2012 Annual Report - Media Prima Berhad

Media Prima Berhad
Notes to
the Financial Statements
for the financial year ended 31 December 2012
44 FINANCIAL RISK MANAGEMENT (CONTINUED)
(c)
Liquidity risk (continued)
Group
Between
Less than 3 months Between Between
3 months and 1 year 1 – 2 years 2 – 5 years Total
RM’000 RM’000 RM’000 RM’000 RM’000
At 31 December 2011
Trade and other payables 415,164 – 409 – 415,573
Term loans* 2,563 21,391 190,179 – 214,133
RFRB* 3,713 3,713 7,425 161,138 175,989
BGMTN* 2,135 102,135 – – 104,270
Hire purchase 1,673 4,590 4,936 4,043 15,242
Bankers’ acceptance 31,953 – – – 31,953
Revolving credit 10,000 – – – 10,000
467,201 131,829 202,949 165,181 967,160
At 1 January 2011
Trade and other payables 327,503 – 409 – 327,912
Term loans* 2,741 21,986 200,069 7,149 231,945
RFRB* 3,713 3,713 7,425 168,563 183,414
BGMTN* 3,588 73,588 104,269 – 181,445
Hire purchase 2,420 6,329 6,267 8,975 23,991
339,965 105,616 318,439 184,687 948,707
* These also apply to the Company level liquidity profile. All other non-derivative financial liabilities of the
Company are less than 3 months.
Capital risk management
The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern
in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital
structure to reduce the cost of capital.
Consistent with others in the industry, the Group monitors capital on the basis of the gearing ratio. This ratio is
calculated as debt divided by total equity. Net debt is calculated as total borrowings (including ‘current and noncurrent
borrowings’ as shown in the consolidated statement of financial position). Total equity is calculated as ‘equity’
as shown in the consolidated statement of financial position.
During 2012, the Group’s strategy, which was unchanged from 2011, was to maintain the gearing ratio within the
limits allowed by covenants and an AAA (bg) credit rating.
242
annual
report
2012