1999 $'000	1998 $'000
Balance at end of year	211,960	242,240

A set-up loan of $302.8 million from the Capital Investment Fund was made in accordance with the resolution passed by the Legislative Council on 26 June 1996 to finance part of initial assets valued at $1,009.4 million appropriated to the Electrical and Mechanical Services Trading Fund effective from 1 August 1996. The loan is repayable in ten equal annual instalments of $30.28 million starting from 1 July 1997. The third instalment due to be payable on 1 July 1999 is shown under short-term borrowing. The balance of $211.96 million shown under this item represents the balance of loan after repayment of the third instalment. A further loan facility of $150 million from the Capital Investment Fund was approved by the Finance Committee on 12 July 1996 to finance the initial years' working capital of the Electrical and Mechanical Services Trading Fund. The working capital loan was to operate as an overdraft facility to the Electrical and Mechanical Services Trading Fund with a credit limit of $150 million, drawn as and when necessary and repayable in full by 31 July 2006. Two drawdowns of $70 million and $35 million were made on 1 August 1996 and 2 September 1996 respectively and were subsequently fully paid off. During the year ended 31 March 1999, no additional drawdown from the loan was made. Interests for the set-up loan is payable on the amount outstanding at the average of the best lending rates quoted by the continuing members of the Committee of the Hong Kong Association of Banks.

19 Analysis of the balances of cash and cash equivalents

	1999 $'000	1998 $'000
Cash and bank balances	8,139	147,633
Cash and bank balances	685,000	405,000
Balance at 31 March	693,139	552,633