Balance sheet

Financial Year Ended 31 January Q4 2026 Q3 2026 Q2 2026 Q1 2026 Q4 2025
Total Assets (RM mil) 29,635 28,141 27,774 25,808 25,788
Total Liabilities (RM mil) 20,211 19,224 18,810 18,329 17,924
Total Equity (RM mil) 9,424 8,917 8,964 7,479 7,864
Total Borrowings (RM mil) 18,022 17,547 17,254 16,562 16,054
Total Borrowings – non-recourse (RM'mil) 9,173 10,357 10,580 9,840 6,135
Total Borrowings – recourse (RM mil) 8,849 7,190 6,674 6,722 9,919
Net Assets Per Share (RM) 2.93 2.77 2.79 2.43 2.55
Adjusted Net Debt/Adjusted Core EBITDA (Times) 3.99 4.50 4.48 5.60 5.91
Gross Gearing - Total Borrowings (Times) 1.91 1.97 1.92 2.21 2.04
Gross Gearing - Excluding Non-recourse Borrowings % (Times) 0.94 0.81 0.74 0.90 1.26
Net Gearing - Total Borrowings (Times) 1.35 1.66 1.45 1.87 1.69
Net Gearing - Excluding Non-recourse Borrowings % (Times) 0.37 0.50 0.27 0.56 0.91
Net Debt to EBITDA (Times) 4.46 5.12 4.68 6.00 4.12
Current Ratio (Times) 2.63 2.01 2.41 1.47 1.58

Note:

% Computed based on total loans and borrowings of the Group excluding non-recourse project financing loans