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202 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

46. CAPITAL MANAGEMENT (CONT’D)

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Debt:

Long term borrowings

3,387,935

3,336,264

500,000

700,000

Redeemable cumulative preference shares

55,768

74,831

-

-

Short term borrowings

879,403

581,064

440,000

240,000

Bank overdrafts

51,656

60,875

31,569

18,727

Total debt

4,374,762

4,053,034

971,569

958,727

Deposits, cash and bank balances:

Deposits

1,165,099

940,560

872,214

740,930

Cash and bank balances

1,246,941

1,229,971

51,848

4,191

2,412,040

2,170,531

924,062

745,121

Net debt

(1,962,722)

(1,882,503)

(47,507)

(213,606)

Equity attributable to owners of the Company

6,791,680

5,730,934

5,185,331

4,297,344

Gross gearing ratio

0.64

0.71

0.19

0.22

Net gearing ratio

0.29

0.33

0.01

0.05

47. SEGMENTAL ANALYSIS

Primary reporting format - business segment

The operations of the Group are primarily organised in Malaysia into three main segments:

(i) Property development

-

Property development

(ii) Construction

-

Building and infrastructure construction

(iii) Others

-

Manufacturing, trading and investing

Transactions between segments were entered into in the normal course of business and were established on terms and conditions that

are not materially different from that obtainable in transactions with unrelated parties. The effects of such inter-segmental transactions

are eliminated on consolidation.

The business segments results are reviewed monthly by the Chief Executive Officer of the Group.

The operations of the Group are primarily carried out in Malaysia. Group income taxes are presented on a group basis and are not

allocated to operating segments.