All monetary amounts are expressed

Restated

in millions of Rand

2006

2005

44. FINANCIAL RISK MANAGEMENT (continued) 44.6  Liquidity risk management The Group manages liquidity risk by monitoring forecast cash flows and ensuring that adequate unutilised borrowing facilities are maintained. Borrowing capacity The Company’s borrowings capacity is unlimited. Borrowing facility Total borrowing facility

6 637,6

6 009,7

Current utilisation

2 717,6

2 712,3

Borrowing facilities available

3 920,0

3 297,4

45. RETIREMENT AND OTHER BENEFIT PLANS The retirement funds operated by the Group in the Republic of South Africa are registered as provident or pension funds and are accordingly governed by the Pension Funds Act No 24 of 1956 (as amended). 45.1  Defined contribution plans – pension funds In South Africa, the Group operates the following privately administered defined contribution pension plans for salaried employees: Murray & Roberts Retirement Fund Investment Solutions Pension Fund The assets of the funds are independently controlled by a board of trustees which includes representatives elected by the members. The funds were actuarially valued on the following dates and declared to be in a sound financial position: Murray & Roberts Retirement Fund 31 December 2005 Investment Solutions Pension Fund 31 December 2003 The total cost to the Group in respect of the above funds for the year ended 30 June 2006 was R35,9 million (2005: R32,8 million). 45.2  Defined contribution plans – provident funds In South Africa, the Group operates the following privately administered defined contribution provident plans for salaried employees: Murray & Roberts Provident Fund The Cementation Company Provident Fund* The assets of the fund are independently controlled by a board of trustees which includes representatives elected by the members. The funds were actuarially valued on 28 February 2006 and on 31 December 2004 respectively and declared to be in a sound financial position. The total cost to the Group in respect of the above funds for the year ended 30 June 2006 was R18,5 million (2005: R16,6 million). 45.3  Surplus legislation Set out below is the current status in respect of surplus scheme submissions: Murray & Roberts Retirement Fund Nil surplus scheme recorded by the Financial Services Board Investment Solutions Pension Fund Surplus apportionment scheme under dispute (R12,4 million) Murray & Roberts Provident Fund Nil surplus scheme recorded by the Financial Services Board The Cementation Company Provident Fund Nil surplus scheme submitted to the Financial Services Board * Includes hourly-paid employees