34. FINANCIAL INSTRUMENTS AND FINANCIAL RISKS (CONTINUED) Liquidity risk (Continued) Contractual maturity analysis (Continued) Within one financial year After one financial year but within five financial years After five financial years Total $’000 $’000 $’000 $’000 Company 30 September 2025 Financial liabilities Trade and other payables 1,624 12,750 – 14,374 Corporate guarantee liability 304 – – 304 Financial guarantee contracts 74,353 – – 74,353 30 September 2024 Financial liabilities Trade and other payables 1,566 13,167 – 14,733 Corporate guarantee liability 1,192 – – 1,192 Financial guarantee contracts 151,000 – – 151,000 35. CAPITAL MANAGEMENT POLICIES AND OBJECTIVES The Group and the Company manage their capital to ensure that the Group and the Company are able to continue as going concern and maintains an optimal capital structure so as to maximise shareholder’s value. The Group and the Company are subject to and complied with externally imposed capital requirements which are financial covenants for the financial years ended 30 September 2025 and 2024, as disclosed in Note 26 to the financial statements. The Group and the Company constantly review the capital structure to ensure the Group and the Company are able to service any debt obligations (include principal repayment and interests) based on its operating cash flows. The Group’s and the Company’s overall strategy remain unchanged during the financial years ended 30 September 2025 and 2024. The Group and the Company monitor capital based on a gearing ratio, which is net debt divided by total capital. The Group and the Company include within net debt, trade and other payables, bank borrowings, and lease liabilities less cash, bank balances and fixed deposits which are not pledged. Total equity consists of total share capital, other reserves plus retained earnings. Total capital consists of net debt plus total equity. Group Company 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Trade and other payables 79,046 97,098 13,773 14,382 Bank borrowings 13,199 14,208 – – Lease liabilities 4,106 4,755 – – Less: Cash, bank balances and fixed deposits which are not pledged (26,751) (20,775) (447) (1,719) Net debt 69,600 95,286 13,326 12,663 Total equity 60,228 50,501 48,128 48,000 Total capital 129,828 145,787 61,454 60,663 Gearing ratio (%) 53.6 65.4 21.7 20.9 ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 125 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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