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NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2013
MTQ Corporat ion Limi ted Annual Repor t 2012/13 121
36. CAPITAL MANAGEMENT (CONT’D)
The Group monitors capital using a gearing ratio, which is net debt divided by net capitalisation. The Group includes within
its net debt, bank borrowings and finance lease payable, less cash and cash equivalents. Net capitalisation refers to net debt
plus shareholders’ funds and non-controlling interests.
Group
Note 2013 2012
$’000 $’000
Bank borrowings 21 72,659 45,016
Finance lease payable 20 916 909
Less: Cash and cash equivalents 18 (40,911) (27,314)
Net debt 32,664 18,611
Shareholders’ funds 118,630 86,692
Add: Non-controlling interests 13,148 (560)
Net capitalisation 164,442 104,743
Net debt gearing ratio 20% 18%
The Group is in compliance with all externally imposed capital requirements for the financial years ended 31 March 2013 and
31 March 2012.
37. AUTHORISATION OF FINANCIAL STATEMENTS FOR ISSUE
The financial statements for the financial year ended 31 March 2013 were authorised for issue in accordance with a resolution
of the Directors on 13 June 2013.