32. BORROWINGS (CONT’D.) (b) Significant covenants The Sukuk Wakalah Programme 1 and 2 of the Group and of the Company is subject to the following significant covenants: (i) The Group and the Company are required to maintain a Debt-to-Equity Ratio of not more than 1.25 times throughout the tenure of the Sukuk Wakalah Programme 1 and 2. (ii) For each Tranche of the Secured Sukuk Wakalah, the Group and the Company must maintain a Security Cover of at least 1.50 times. (iii) With respect to the principal amount payable, the Group and the Company are required to progressively build up and accumulate the required amount over a period of 12 months for Sukuk Wakalah Programme 1 and 6 months for Sukuk Wakalah Programme 2 prior to the respective maturity date. (iv) With respect to profit payments due and payable, the Group and the Company are required to progressively build up the necessary funds over a period of 6 months prior to each periodic payment date for Sukuk Wakalah Programme 1 whereas, no such fund accumulation is required for Sukuk Wakalah Programme 2. As at reporting date, the Group and the Company have no indication of any difficulty in complying with the above covenants. (c) Changes in liabilities arising from financing activities Group Company 2025 RM’000 2024 RM’000 2025 RM’000 2024 RM’000 At 1 January 2,298,214 3,140,935 1,120,923 1,019,640 Cash flows 438,142 (1,020,471) 199,047 (57,287) Redemption of perpetual bond - 158,570 - 158,570 Others 17,759 19,180 - - At 31 December 2,754,115 2,298,214 1,319,970 1,120,923 The “Others” represent transactions involving amortisation of borrowing costs. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 AR 2025 | FINANCIAL STATEMENT & OTHER INFORMATION 352
RkJQdWJsaXNoZXIy NDgzMzc=