FORWARD TOGETHER Notes to the Consolidated Financial Statements 31 December 2022 192 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. The pledged bank deposits at 31 December 2022 was denominated in JPY (2021: RMB). 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 2022 and 2021, 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 2022 31 December 2021 Effective interest rate (%) Maturity US$’000 Effective interest rate (%) Maturity US$’000 Current Bank loans — secured 0.57-7.20 2023 53,744 0.57-6.18 2022 438,846 Bank loans — unsecured 2.20 2023 95,382 3.09-4.10 2022 192,479 Other borrowings — unsecured 0.50-10.00 2023 52,560 — Bonds — unsecured 4.25-6.00 2023 88,766 6.75-7.875 2022 681,558 290,452 1,312,883 Non-current Bank loans — secured 0.57-9.40 2024–2042 1,270,017 0.57-6.18 2023–2041 794,954 Bank loans — unsecured 1.75-7.98 2024–2027 3,392,381 2.00-3.43 2023–2026 1,609,920 Other borrowings — unsecured — 0.50-10.00 2023–2024 57,627 Bonds— unsecured 4.15-5.10 2024–2025 224,727 5.10 2025 163,742 4,887,125 2,626,243 Convertible bonds (note 31) 5.03 2025 319,053 5.03 2025 308,769 5,206,178 2,935,012 5,496,630 4,247,895
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