Balance sheet

Financial Year Ended 31 January Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025
Total Assets (RM mil) 28,141 27,774 25,808 25,788 30,075
Total Liabilities (RM mil) 19,224 18,810 18,329 17,924 22,025
Total Equity (RM mil) 8,917 8,964 7,479 7,864 8,050
Total Borrowings (RM mil) 17,547 17,254 16,562 16,054 19,373
Total Borrowings – non-recourse (RM'mil) 10,357 10,580 9,840 6,135 8,182
Total Borrowings – recourse (RM mil) 7,190 6,674 6,722 9,919 11,191
Net Assets Per Share (RM) 2.77 2.79 2.43 2.55 2.51
Adjusted Net Debt/Adjusted Core EBITDA (Times) 4.50 4.48 5.60 5.91 5.01
Gross Gearing - Total Borrowings (Times) 1.97 1.92 2.21 2.04 2.41
Gross Gearing - Excluding Non-recourse Borrowings % (Times) 0.81 0.74 0.90 1.26 1.39
Net Gearing - Total Borrowings (Times) 1.66 1.45 1.87 1.69 2.04
Net Gearing - Excluding Non-recourse Borrowings % (Times) 0.50 0.27 0.56 0.91 1.03
Net Debt to EBITDA (Times) 5.12 4.68 6.00 4.12 4.90
Current Ratio (Times) 2.01 2.41 1.47 1.58 1.57

Note:

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