KBS Fashion Group Ltd | CIK:0001546383 | 3

  • Filed: 4/30/2018
  • Entity registrant name: KBS Fashion Group Ltd (CIK: 0001546383)
  • Generator: Ez-XBRL
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1546383/000121390018005204/0001213900-18-005204-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1546383/000121390018005204/kbsf-20171231.xml
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    • ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory

    28.CASH AND CASH EQUIVALENTS

     

       As at December 31, 
       2017  2016 
     Cash on hand  16,413   15,066 
     Bank deposits  26,034,043   24,561,275 
        26,050,456   24,576,341 

     

       As at December 31, 
       2017  2016 
     Renminbi  26,040,572   24,566,443 
     Hong Kong Dollars  8,914   8,921 
     United States Dollars  970   977 
        26,050,456   24,576,341 

     

    Cash and cash equivalents comprise cash held by the Group and short-term deposits with an original maturity of three months or less. Bank deposits as at December 31, 2017 carry interest at market rates which ranged from 0.35% to 0.50% (2016: 0.35%-0.50%) per annum. Majority of our cash is deposited with financial institution in the PRC. Remittance of funds out of the PRC is subject to the exchange restrictions imposed by the PRC government.