15. CASH & CASH EQUIVALENTS   Close Window  
 
(All amounts in Sri Lanka Rupees millions)
  Group Company
  2003 2002 2003 2002
Cash at bank and in hand 385 593 136 579
Restricted at bank [Note (a)] 136 116 136 116
Short-term deposits [Note (b) & (c)] 4,078 5,265 4,076 5,242
  ---------
4,599
======
---------
5,974
======
---------
4,348
======
---------
5,937
======
   
(a) The restricted cash balance is a bank deposit of Sri Lankan Rs. 136 million with the People’s Bank which represents the sinking fund investment for the insurance reserve. The restrictions on this balance are self-imposed.
(b) These deposits are interest bearing on commercial terms.
(c) Short-term deposits include cash deposit of USD 15 million (equivalent Rs. 1,449 million) which has been pledged as collateral for a letter of credit opened by Mobitel (Private) Limited for the import of equipment for the GSM rollout. For the purpose of the Cash Flow Statement, the year-end cash & cash equivalents comprise the following:
   
 
  Group Company
  2003 2002 2003 2002
Cash & cash equivalents 4,599 5,974 4,348 5,937
Bank overdrafts (Note 16) (1)
  ---------
4,599
======
---------
5,973
======
---------
4,348
======
---------
5,937
======
 
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