Notes tothe financial statements For the financial year ended 31 December 2023 24. Receivables (cont’d) Advances to suppliers Advances to suppliers represent advance payments to suppliers and contractors in relation to the following purchases: Group 2023 2022 Rp million Rp million Raw materials 303,291 441,391 Factory supplies, spare parts and others 60,001 35,298 363,292 476,689 Advances to suppliers are unsecured, interest-free and obligations of the suppliers are expected to be fulfilled within the next 12 months. 25. Cash and cash equivalents Group Company 2023 2022 2023 2022 Rp million Rp million Rp million Rp million Cash at bank and in hand 1,446,916 783,013 7,562 11,012 Short term deposits 3,778,614 3,639,358 48,238 83,609 Cash and cash equivalents 5,225,530 4,422,371 55,800 94,621 Cash and cash equivalents denominated in foreign currencies are as follows: Group Company 2023 2022 2023 2022 Rp million Rp million Rp million Rp million US Dollars 1,359,798 1,287,274 40,313 47,737 Singapore Dollars 4,431 4,313 3,238 3,186 Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods ranging from one day to three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates. Short-term deposits denominated in US dollars and Rupiah earned interest at annual rates between 1.75% to 5.75% (2022: 0.25% to 4.40%) and 3.75% to 6.00% (2022: 2.25% to 5.50%), respectively. 133 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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