Island School and corporate giant Hong Kong Aircraft Engineering Co (HAECO) teams are the favourites in the 24-hour Hong Kong Pedal Kart Grand Prix being held at Morse Park in Wong Tai Sin this weekend. The annual fundraising event, organised by Round Table 10 and the Hong Kong Human Powered Vehicle Association (HKHPVA), has raised more than HK$23 million since it's inception in 1986. Forty teams have designed and created their own karts and will race for trophies in several categories. Last year the Royal Hong Kong Yacht Club (RHKYC) did a ladies and overall winners double, and King George V took the school title. 'We used the Tamar site in central last year. It was a spectacular race,' said HKHPVA chairman Simon Boyde in the race programme. This year the race moves back to a former venue - a shorter, tighter track at Morse Park. 'We can be sure of a close race this time. The news is that HAECO and Island School have strong teams again,' said Boyde. Island School (winner in 91,92,93), which hasn't entered in recent years, and HAECO (96,97,98) are two of three teams that have won the overall title three years consecutively. The other was the Hong Kong Hash House Harriers (88,89,90). 'None of the students in this year's team were at the school when we last entered,' said Island School team manager Sandy Pescod. 'We're excited and I'm confident that we'll do ourselves and the school proud,' added Pescod. Major companies taking part include regulars Cathay Pacific Airways, the Kowloon-Canton Railway Corporation, Hong Kong Electric, the MTR Corporation, and CLP Power. As well as Island School, West Island has entered two teams and South Island will make a three pronged attack on the schools' title. Hong Kong Institute of Vocational Education (Lee Wai Lee) will also challenge for the schools' trophy. KGV are absent this time. Teams have squads of drivers who take turns to pedal the vehicle around the track. Their performance is measured to a split second by Formula One professionals MST Sports Timing. The all-time 24 hour distance record is 724.2km set in 1995 by the RHKYC/Intergraph team. The RHKYC also holds the women's record set in 2000 at 656.64km. The record for most sponsorship funds raised is HK$342,121 by the Hong Kong School of Motoring in 1992. Physiotherapy massage company Byrne and Hickman will be on hand to soothe aching limbs, and a restaurant run by the Hong Chi Association will be open through the night. 'To repeat this, year after year, shows that the organisers are an incredible team of people, and that it is well loved by participants who keep coming back for more,' said Tim Lovatt, Round Table 10 chairman. There is a kart parade at 2pm tomorrow, and the race starts at 3pm.