38. Capital management (cont’d.) The debt to equity ratios of the Group and of the Corporation as at 31 December 2016 and 31 December 2015 are as follows: Group Corporation Note 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 Short term borrowings 18(c) 7,372,969 1,110,055 2,804,497 687,662 Long term borrowings 18(c) 5,228,537 5,394,348 6,933,229 1,068,655 Gross debts 12,601,506 6,504,403 9,737,726 1,756,317 Cash, deposits and bank balances 23 6,559,207 5,654,024 3,468,856 2,070,683 Net debts 6,042,299 850,379 6,268,870 (314,366) Total equity 39,330,953 36,459,142 25,930,764 24,288,847 Gross debt equity ratio 0.32 0.18 0.38 0.07 Net debt equity ratio 0.15 0.02 0.24 (0.01) 39. Subsidiaries and activities Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2016 2015 MISC Tankers Sdn. Bhd. Malaysia Investment holding and provision of management services 100 100 Puteri Intan Sdn. Bhd. Malaysia Shipping 100 100 Puteri Delima Sdn. Bhd. Malaysia Shipping 100 100 Puteri Nilam Sdn. Bhd. Malaysia Shipping 100 100 MISC BERHAD • Annual Report 2016 320 notes to the financial statements - 31 december 2016
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