267 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʧ (cont’d) 49. CAPITAL MANAGEMENT The Group manages its capital to ensure that entities within the Group will be able to maintain an optimal capital structure so as to support their businesses and maximise shareholders’ value. To achieve this objective, the Group may make adjustments to the capital structure in view of changes in economic conditions, such as adjusting the amount of dividend payment, returning of capital to shareholders or issuing new shares. The Group manages its capital based on debt-to-equity ratio that complies with debt covenants and regulatory, if any. The debt-to-equity 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: v Group 2024 2023 RM’000 RM’000 Loans and borrowings 1,264,904 846,658 Lease liabilities 25,797 34,026 1,290,701 880,684 Less: Deposits with licensed banks (24,643) (23,437) Less: Cash and cash equivalents (349,551) (60,707) Net debt 916,507 796,540 Total equity 2,841,200 2,200,286 Gearing ratio (times) 0.32 0.36 50. DATE OF AUTHORISATION FOR ISSUE The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the Directors on 30 April 2025.
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