NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 44. FINANCIAL INSTRUMENTS (CONT’D) 44.2 CAPITAL RISK MANAGEMENT (CONT’D) The Group manages its capital based on debt-to-equity ratio that complies with debt covenants and regulatory, if any. The debt-toequity ratio is calculated as net debt divided by total equity. The Group includes within net debt, loans and borrowings from financial institutions less cash and cash equivalents. Capital includes equity attributable to the owners of the parent and non-controlling interest. The debt-to-equity ratio of the Group at the end of the reporting period was as follows:- THE GROUP 2023 RM’000 2022 RM’000 Term loans (Note 24) 122,720 152,846 Bank overdrafts (Note 28) 17,903 - Sukuk Wakalah (Note 22) 80,000 110,000 Revolving credits (Note 25) 20,015 20,015 240,638 282,861 Less: Fixed deposits with licensed banks (Note 17) 59,181 58,466 Less: Cash and bank balances (Note 18) 191,051 143,672 250,232 202,138 Net debt (9,594) 80,723 Total equity 1,987,855 1,898,874 Debt-to-equity ratio (times) N/A 0.04 There was no change in the Group’s approach to capital management during the financial year. Note: N/A – Not Applicable INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 236 FINANCIAL STATEMENTS
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