ESR Group AR2023 eBook EN

198 Notes to the Consolidated Financial Statements 31 December 2023 24. CASH AND BANK BALANCES (continued) Cash at banks earns interest at floating rates based on daily bank deposit rates. The bank balances and deposits are deposited with creditworthy banks with no recent history of default. The carrying amounts of the cash and bank balances approximate to their fair values. As at 31 December 2023, the fixed deposit of US$3,850,000 (2022: nil) had a maturity period of over 180 days. The balance as at 31 December 2023 was principal-protected and carried the rate of return of 1.85% per annum. The pledged bank deposits at 31 December 2023 was denominated in JPY (2022: JPY). Pledged bank deposits earn interest at interest rates stipulated by the respective financial institutions. The pledged bank deposits represent the amounts pledged to secure bank and other borrowings granted to the Group (note 25). As at 31 December 2023 and 2022, cash and bank balances and deposits of the Group and the Company were considered to be of low credit risk and thus the Group has assessed that the ECL for cash and bank balances was immaterial under the 12-month expected credit loss method. 25. BANK AND OTHER BORROWINGS Group 31 December 2023 31 December 2022 Effective interest rate (%) Maturity US$’000 Effective interest rate (%) Maturity US$’000 Current Bank loans — secured 1.77–9.90 2024 111,904 0.57–7.20 2023 53,744 Bank loans — unsecured 3.55–7.67 2024 720,913 2.20 2023 95,382 Other borrowings — unsecured 10.00 2024 6,714 0.50–10.00 2023 52,560 Bonds — unsecured 4.15 2024 60,353 4.25–6.00 2023 88,766 899,884 290,452 Non-current Bank loans — secured 0.62–9.90 2025–2043 1,221,658 0.57–9.40 2024–2042 1,270,017 Bank loans — unsecured 0.66–8.17 2025–2030 3,480,574 1.75–7.98 2024–2027 3,392,381 Bonds — unsecured 1.16–5.10 2025–2030 377,437 4.15–5.10 2024–2025 224,727 5,079,669 4,887,125 Convertible bonds (note 31) — 5.03 2025 319,053 5,079,669 5,206,178 5,979,553 5,496,630 STRENGTH IN UNITY

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