Page 199 - SC SCAR 2023 ENGLISH Flipbook

PART 5 ORGANISATION INFORMATION
10. TRADE AND OTHER RECEIVABLES
Levies receivable
Finance income receivable
Other receivables
Deposit
Prepayments
Short-term staff financing (Note 8)
11. CASH AND CASH EQUIVALENTS
Cash and bank balances
Deposits placed with licensed banks
2023 RM’000
14,849 14,186 795 1,117 3,557 880
35,384
2023 RM’000
329,637 51,496
381,133
2022 RM’000
13,430 8,863 1,652
145 2,798 954
27,842
2022 RM’000
21,006 154,759
175,765
Deposits placed with licensed banks have maturity period of 1 month and 3 months (2022: 1 month and 3 months) and earned income at rates ranging from 3.80% to 4.00% per annum (2022: 2.45% to 3.20% per annum).
Included in deposits placed with licensed banks are amounts reserved for stockbroking industry development of RM15.6 million (2022: RM15.2 million), amounts reserved for brokers’ security deposits of RM0.2 million (2022: RM0.2 million) and funds held in trust of approximately RM35.6 million (2022: RM28.5 million).
The bank balances are placed with licensed banks.
12. COMPENSATION FUND RESERVE
This represents an amount allocated from the accumulated surplus for the Capital Market Compensation Fund Corporation.
13. POST-EMPLOYMENT BENEFITS
The defined benefit plan is an unfunded post-employment medical plan, which provides medical benefits for participants and their eligible dependents after retirement age until the death of the participant or spouse, or for child dependents up to age 18 or age 24, if they are still studying.
As such, the ultimate cost of the plan depends on the longevity of the retirees and their eligible dependents, the incidence and cost of events resulting in claims under the plan, and the inflation of such costs in the future.
Funding
The plan is unfunded. Employer contributions to the plan refer to the medical claim amounts paid directly by the SC. The SC expects to pay approximately RM2.23 million in contributions to its defined benefit plan in 2024.
SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023 197