NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C8 Bank balances and other liquid funds Group 2022 $’000 2021 $’000 Fixed deposits with financial institutions 30,323 123,293 Cash and bank balances 571,448 692,631 Bank balances and other liquid funds 601,771 815,924 Deposits pledged (22) – Cash and cash equivalents in the statement of cash flows 601,749 815,924 Fixed deposits with financial institutions mature at varying periods within 12 months (2021: 7 months) from the financial year-end. Interest rates range from 0.4% to 4.1% (2021: 0.1% to 1.9%) per annum, which are also the effective interest rates. Included in cash and cash equivalents are bank deposits amounting to $29,752,000 (2021: $26,010,000) which are not freely remissible for use by the Group because of currency exchange restrictions. Cash and cash equivalents denominated in currencies other than the respective entities’ functional currencies as at 31 December are as follows: • $111,298,000 (2021: $132,843,000) denominated in USD • $27,023,000 (2021: $34,251,000) denominated in EUR C9 Trade payables and accruals Group 2022 $’000 2021 $’000 Trade payables 1,035,615 914,757 Non-trade payables 135,817 109,861 Purchase of property, plant and equipment 19,001 8,341 Accrued operating expenses * 1,690,383 1,638,504 Accrued interest payable 18,394 4,534 2,899,210 2,675,997 Payable: Within 1 year 2,826,498 2,612,515 After 1 year 72,712 63,482 2,899,210 2,675,997 Trade payables denominated in currencies other than the respective entities’ functional currencies as at 31 December are as follows: • $151,176,000 (2021: $130,687,000) denominated in USD • $41,736,000 (2021: $44,592,000) denominated in EUR * Included in the accrued operating expenses is an amount of $303,340,000 (2021: $288,424,000) for the Group’s obligations under its employee compensation schemes. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 183
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