Page 161 - URA Annual Report 2021-22

(expressed in Hong Kong Dollars)
13. Cash and bank balances
Bank deposits
Original maturities of 3 months or less Original maturities of more than 3 months
Less: Amounts held in trust for joint development projects Cash at banks and in hand
Maximum exposure to credit risk Representing:
Non-current portion - Bank deposits
Current portion
- Cash at banks and in hand - Bank deposits
2022 $’000
4,364,834 21,767,177
26,132,011 (1,218)
26,130,793 78,750
26,209,543 26,209,528
2022 $’000
976,400 78,750
25,154,393
25,233,143
2021 $’000
1,854,447 7,223,052
9,077,499 (1,213)
9,076,286 217,207
9,293,493 9,293,478
2021 $’000
76,000 217,207
9,000,286
9,217,493
As at 31 March 2022, cash and bank balances of the Group are denominated in Hong Kong Dollars except for an amount of $538,342,000 and $1,023,284,000 (31 March 2021: $286,194,000 and Nil) which are denominated in USD and Renminbi respectively.
The average effective interest rate of time deposits with banks was 0.65% per annum (2020/21: 1.63% per annum). These deposits have an average maturity of 192 days (2020/21: 151 days).
The credit quality of the cash and bank balances, deposited with financial institutions, which are Hong Kong Dollars and denominated in foreign currencies, can be assessed by reference to external credit ratings of the financial institutions and are analysed as follows:
2022 $’000
Aa1 – Aa3
A1 – A3
Others 554,931
26,209,528
2021 $’000
3,660,110 5,583,855 49,513
9,293,478
Rating (Moody’s)
11,490,983 14,163,614
URA ANNUAL REPORT 2021-22 155