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Consolidated Debt-equity ratio liquidity andcapital resources$ million %2,3001141142,2352,2001122,100110With greater profitability,Keppel Land’s net debt-equityratio fell from 114% to 104%in 2006.2,0001,9001,9701,9011,9601081061,8001041041,7002006 2005Debt Equity Debt-equity ratio102Gearing structureFixed rate Floating rate Totalborrowingsborrowings$’000 % $’000 % $’000 %Facilities available for drawdown 430,000 100 3,306,537 100 3,736,537 100Amount utilised 387,639 90 2,163,087 65 2,550,726 68Balance unutilised 42,361 10 1,143,450 35 1,185,811 32Cash in hand and on deposit 580,9511,766,7622006 2005Interest coverProfit before interest and tax ($’000) 233,708 175,419Net interest cost expensed and capitalised ($’000) 76,832 52,000Interest cover 3.0 3.4Effective cost of borrowingsNet interest cost expensed and capitalised ($’000) 76,832 52,000Average net borrowings ($’000) 2,102,147 1,998,114Effective cost of borrowings (%) 3.7 2.6Secured borrowings ratioTotal secured borrowings ($’000) 276,692 142,834Percentage of total borrowings 10.8 5.0Debt-equity ratioTotal borrowings:Gross ($’000) 2,550,726 2,832,196Net of cash ($’000) 1,969,775 2,234,519Total equity (excluding minority interests) ($’000) 1,590,934 1,678,932Debt-equity ratio (excluding minority interests):Gross (%) 160 169Net of cash (%) 124 133Total equity (including minority interests) ($’000) 1,900,952 1,959,509Net debt-equity ratio (including minority interests) (%) 104 11488 Corporate liquidity and capital resourcesKeppel Land LimitedReport to Shareholders 2006