21 Restricted cash and cash equivalents
2007 |
2006 |
|
$000 |
$000 |
|
Contractors' deposits |
508 |
459 |
Railway Servants' Benefit Fund |
130 |
235 |
|
638 |
694 |
Contractors’ deposits are held by the PTA as security for contractor performance according to the terms and conditions of the contracts established with each contractor. Generally, the contracts require that these deposits must be maintained intact by the PTA for repayment to the contractor on successful performance of contract conditions.
The Railway Servants’ Benefit Fund is to be used only for the purpose of providing welfare to staff.