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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
26. Cash, bank balances and deposits
134
Building on Success: Developing Resources for the Future
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Cash on hand and at banks 50,340 82,246 37,088 61,681
Deposits with:
- licensed banks 149,612 25,443 140,912 16,330
- other financial institution 35,745 11,555 367 367
Cash and bank balances 235,697 119,244 178,367 78,378
Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying
periods of between four days and 12 months depending on the immediate cash requirements of the Group and the Company,
and earn interests at the respective short-term deposit rates. The weighted average effective interest rates as at 31 December
2011 for the Group and the Company were 2.6% (2010: 2.2%) and 2.5% (2010: 1.7%) respectively.
For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the following at the
reporting date:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Cash and short term deposits:
- Continuing operations
- Attributable to disposal group classified as held
235,697 119,244 178,367 78,378
for sale (Note 22) – 525 – –
Cash and cash equivalents 235,697 119,769 178,367 78,378
27. Provisions
Group
Severance
benefits
RM’000
Mine
rehabilitation
RM’000
Total
RM’000
At 1 January 2011 1,766 24,389 26,155
Provision during the year (Notes 4 and 8) 9,915 18,247 28,162
Unwinding of discount on provision (Note 9) – 130 130
Paid/Utilised during the year (263) – (263)
Plan asset (Note 27(a)i) (11,234) – (11,234)
Exchange differences 411 1,243 1,654
At 31 December 2011 595 44,009 44,604