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23. CASh AnD CASh equivAlentS (Cont’D)
Cash and cash equivalents of the Group amounting to RM338,100,569 (2009: RM324,621,412) are only available to certain companies
in the Group.
Mandatory balances kept in the Finance Service Reserve Account amounted to RM8,921,061 (2009: RM8,982,225).
Included in cash and bank balances of the Group is an amount of RM26,342,102 (2009: RM38,799,898) maintained pursuant to Istisna’
Bonds and MCPs and may be used only specifically in relation to purchase of oil and gas assets.
Finance Service Reserve Account (sinking fund) is created based on the following:
(i) upon drawdown of the Istisna’ Bonds and on each date falling 6 months thereafter, an amount equivalent to the face value of
the Secondary MCPs and all Istisna’ Bonds coupon payments falling due during the period are required to be deposited into this
account;
(ii) 6 months prior to the maturity of the Primary MCPs, an amount equivalent to 1/6 of all payments due and payable under the
Primary MCPs falling due during such period are required to be deposited into this account every month till maturity; and
(iii) 6 months prior to the maturity of the Istisna’ Bonds, an amount equivalent to 1/6 of all payments due and payable under the
Primary Istisna’ Bonds falling due during such period are required to be deposited into this account every month till maturity.
Other information on financial risks of cash and cash equivalents are disclosed in Note 35.
The weighted average of the interest rate (per annum) and the range of remaining maturities as at the balance sheet date are as
follows:
group Company
2010 2009 2010 2009
Interest rate (%) 1.76 2.84 1.78 3.11
Maturities (days) 1 - 28 1 - 20 1 - 2 1 - 5
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SapuraCrest Petroleum Berhad
Annual Report 2010