276 YINSON HOLDINGS BERHAD ACCOUNTABILITY 45. CAPITAL MANAGEMENT (CONTINUED) (b) Externally imposed covenants and capital structure The loans and borrowings of the Group and the Company as disclosed in Note 33 are subject to compliance with covenants as defined in the respective facility agreements. For the financial years ended 31 January 2025 and 2024, the Group and the Company have complied with these requirements. For the purpose of financial covenants calculations, the following ratios or indicators apply: • Debt Service Coverage Ratio • Gross gearing • Net gearing • Cash and cash equivalents (excluding restricted balances where required under each facility agreement) • Net worth The applicable ratios and indicators may be tested at the entity level, project level, sub-group level, or YHB Group level, depending on the specific requirements of each facility agreement. The covenants are required to be complied with on a quarterly, semi-annual, or annual basis, depending on the terms specified in each agreement. There are no indications that the Group may have difficulties complying with the covenants in the next twelve months from the reporting date. 46. PERPETUAL SECURITIES The carrying amounts of perpetual securities, as reflected in the Statement of Changes in Equity, are shown below: Group Company Instruments 2025 RM million 2024 RM million 2025 RM million 2024 RM million RM950 million Sukuk Mudharabah (Note (i)) 944 944 - - USD120 million Multi-Currency Perpetual Securities (Note (ii)) - 490 - - RM1.0 billion Perpetual Sukuk Wakalah (Note (iii)) 997 358 997 358 Total 1,941 1,792 997 358
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