37. CAPITAL MANAGEMENT POLICIES AND OBJECTIVES The Group and the Company manage their capital to ensure that the Group and the Company are able to continue as going concern and maintains an optimal capital structure so as to maximise shareholder’s value. The Group and the Company are subject to and complied with externally imposed capital requirements which are financial covenants for the financial years ended 30 September 2024 and 30 September 2023, as disclosed in Note 28 to the financial statements. The Group and the Company constantly review the capital structure to ensure the Group and the Company are able to service any debt obligations (include principal repayment and interests) based on its operating cash flows. The Group’s and the Company’s overall strategy remain unchanged during the financial years ended 30 September 2024 and 30 September 2023. The Group and the Company monitor capital based on a gearing ratio, which is net debt divided by total capital. The Group and the Company include within net debt, trade and other payables, bank borrowings, and lease liabilities less cash, bank balances and fixed deposits which are not pledged. Total equity consists of total share capital, other reserves plus retained earnings. Total capital consists of net debt plus total equity. Group Company 2024 2023 2024 2023 $’000 $’000 $’000 $’000 (Restated) Trade and other payables 97,098 78,121 14,382 13,847 Bank borrowings 14,208 26,060 – – Lease liabilities 4,755 6,943 – – Less: Cash, bank balances and fixed deposits which are not pledged (20,775) (14,643) (1,719) (733) Net debt 95,286 96,481 12,663 13,114 Total equity 50,501 51,259 48,000 30,054 Total capital 145,787 147,740 60,663 43,168 Gearing ratio (%) 65.4 65.3 20.9 30.4 38. FAIR VALUE Fair value of the financial assets and financial liabilities that are measured at fair value on a recurring basis The table below presents assets and liabilities measured and carried at fair value and classified by level of the following fair value measurement hierarchy: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities • Level 2: inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly (i.e. as prices) or indirectly (i.e., derived from prices) • Level 3: inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). Level 1 $’000 Group and Company 30 September 2024 Financial assets Financial assets, at FVTOCI – Quoted equity shares 2,385 30 September 2023 (Restated) Financial assets Financial assets, at FVTOCI – Quoted equity shares 2,475 There were no transfers between levels of the fair value hierarchy during the financial year. 135 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
RkJQdWJsaXNoZXIy NTkwNzg=