ELECTRICAL AND MECHANICAL SERVICES TRADING FUND
BALANCE SHEET
As at 31 March 1998

		1998 $000		1997 $000
Assets employed
Fixed assets (note 10)		972,254		995,138
Current assets
Stocks and work in progress (note 11)		129,340		139,009
Debtors and prepayments		95,505		167,945
Amount due from Government		126,888		166,107
Interest receivable		3,323		966
Placements with banks		516,000		354,000
Cash and bank balances		147,633		12,261
		1,018,689		840,288
Less: Current liabilities
Creditors		113,907		99,180
Amounts due to Government		287,468		356,192
Short-term borrowing (note 2)		30,280		30,280
Customers deposits		138,295		43,444
Deferred revenue (note 13)		40,456		22,506
Proposed dividend (note 8)		78,462		44,735
Interest payable		17,206		22,791
Tax payable		41,719		16,830
		747,793		635,958
Net current assets		270,896		204,330
Total assets less current liabilities		1,243,150		1,199,468
Less: Deferred liabilities
Deferred tax (note 14)		6,851		10,968
		1,236,299		1,188,500
Financed by:
Trading fund capital (note 15)		706,600		706,600
Revenue reserve (note 16)		287,459		104,380
Capital and reserves		994,059		810,980
Government loan (note 17)		242,240		377,520
		1,236,299		1,188,500