4. Co-operation Guarantee Deposits
a) Tokyo Office
The deposit was paid to Cathay Pacific Airways Ltd. in accordance with the conditions of the sublease for the period 15 May 1978 to 15 April 1998. The balance of the deposit at 31 March 1991 was JPY12,705,900 (HKD711,530). Repayment of the deposit started on 30 April 1984 by 15 annual instalments with interest accrued on the outstanding balance at the rate of JPY0.005 per JPY100 per day.
b) Osaka Office
For the premises at No. 3, Osaka Ekimae Building, a Co-operation Guarantee Deposit totalling JPY28,520,000 (HKD1,597,120) was paid to Watanabe Comei Kaisha Ltd. This deposit is to be refunded by the landlord within six months after vacating the premises. Interest will not be paid on the deposit.
5. Cash and Bank Balances
Convention and Exhibition Centre project
deposit accounts
Time deposits
Overseas promotional projects imprest
accounts
Current accounts
Cash on hand
1990/91
HKD'000
1989/90 HKD'000
12,614
13,912
321,987
279,204
3,194
7,590
8,987
5,015
294
147
347,076
305,868
6. General Fund
1990/91
1989/90
HKD'000
HKD'000
Balance brought forward
105,905
28,552
Add: Transfer from Other Specific Funds (Note 10)
33,212
Transfer from Reserve Fund (Note 7)
50,630
Transfer from Income and
61,182
99,238
Expenditure Account
200,299
178,420
Less: Transfer to Reserve Fund (Note 7)
Balance carried forward
(59,620)
(72,515)
140,679
105,905
The balance carried forward is allocated to fund fixed assets (other than operating equipment and stand systems), co-operation guarantee deposits and housing loans to staff.
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