19. CASH AND BANK BALANCES Group Company 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Fixed deposits 10,383 2,964 – 1,505 Cash at bank balances 22,468 18,811 447 214 32,851 21,775 447 1,719 Fixed deposits pledged (6,100) (1,000) – – Cash and cash equivalents per consolidated statement of cash flows 26,751 20,775 447 1,719 Fixed deposits will mature within 7 days to 12 months (2024: 1 to 12 months) from the financial year-end and the effective interest rate on the fixed deposits ranges from between 1.1% to 3.99% (2024: 1.7% to 5.2%) per annum. For the purpose of presenting consolidated statement of cash flows, cash and cash equivalents include short-term deposits with an average maturity of more than 3 months, as there is no significant loss or penalty in converting these deposits into liquid cash before maturity. Cash and bank balances on statements of financial position are denominated in the following currencies: Group Company 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Malaysian Ringgit 1 1 – – Singapore dollar 31,775 20,217 415 1,665 United States dollar 1,051 929 32 54 Maldives rufiyaa 24 273 – – Japanese yen – 355 – – 32,851 21,775 447 1,719 20. NON-CURRENT ASSETS HELD FOR SALE On 2 September 2024, management expressed the intention to dispose off the 20% interest in KHPL to MCSK Pte Ltd (“MCSK”), the major shareholder of KHPL. The disposal includes the sale of the entire shareholding interest in KHPL and the shareholder’s loan for a total consideration of $34,500,000. The sale and purchase agreement were signed and completed on 19 February 2025. The disposal of KHPL is expected to be completed within a year from the reporting date. Accordingly, investments in KHPL have been reclassified as a non-current assets held for sale as at 30 September 2024. Details of non-current assets held for sale as at 30 September 2024 as follows: 2024 $’000 Cost 200 Share of reserves of associates, net of dividend received and tax 14,111 Amount due from associate 34,601 Impairment loss (14,795) 34,117 On 30 June 2025, the Group completed the disposal of its entire interest in KHPL, payable over six instalments from February 2025 to December 2026. The disposal resulted in a gain of $383,000, recognised in profit or loss. ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 106 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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