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Notes to the Financial Statements
 
    (a) Employee loans are repayable in equal monthly instalments over five years.
 
    (b) Although there is no legal right of set-off, foreign trade receivables are shown net of certain amounts payable to          overseas telecom operators who have a net credit balance in respect of overseas traffic.
             
  13. Cash & Cash Equivalents                    Group
               Company
 
    ---------------- ---------------- ---------------- ----------------  
    1999 1998 1999 1998  
Rs.million Rs.million Rs.million Rs.million  
 
---------------- ---------------- ---------------- ----------------  
 
198
313
196
311
 
 
Cash at bank and in hand
535
479
535
479
 
 
Restricted at bank [note (a)]
407
369
407
369
 
 
Short-term deposits
---------------- ---------------- ---------------- ----------------  
 
1,140
1,161
1,138
1,159
 
 
---------------- ---------------- ---------------- ----------------  
 

(a) The restricted cash balances are bank deposits in US dollars with Citibank and Credit Agricole Indosuez under terms     specified in the agreements for loans from these entities, and bank deposits of Sri Lankan Rupees 62 million with the     People’s Bank which represents the sinking fund investment for the insurance reserve. These deposits are interest bearing     on commercial terms.

    For the purpose of the cash flow statement, the year-end cash & cash equivalents comprise the following:

 
             
   
                   Group
                Company
 
    ---------------- ---------------- ---------------- ----------------  
    1999 1998 1999 1998  
    Rs.million Rs.million Rs.million Rs.million  
    ---------------- ---------------- ---------------- ----------------  
  Cash and cash equivalents
1,140
1,161
1,138
1,159
 
 
Bank overdrafts (note 14)
(254)
(550)
(254)
(550)
 
 
Restricted at bank
(535)
(479)
(535)
(479)
 
 
---------------- ---------------- ---------------- ----------------  
 
351
132
349
130
 
 
---------------- ---------------- ---------------- ----------------  
 
14. Borrowings
 
 
           Group/Company
 
 
------------------------
------------------------
 
 
    1999 1998  
 
    Rs.million Rs.million  
 
Current
------------------------
------------------------
 
 
Bank overdrafts
254
550
 
 
Government borrowings
1,532
1,262
 
 
Bank borrowings
3,699
1,898
 
 
------------------------
------------------------
 
 
5,485 3,710  
 
Non-current
 
  Government borrowings     9,114 7,421  
  Bank borrowings     16,517 11,139  
     
------------------------
------------------------
 
      25,631 18,560  
     
------------------------
------------------------
 
  Total borrowings     31,116 22,270  
     
------------------------
------------------------
 
             
             
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Notes to the Financial Statements                              
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