NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) E1 Capital management (continued) Group 2024 2023 $’000 $’000 Shareholders’ funds Share capital 895,926 895,926 Treasury shares (32,806) (29,644) Capital and other reserves 27,882 30,118 Retained earnings 1,779,371 1,562,940 2,670,373 2,459,340 Non-controlling interests 280,474 292,996 2,950,847 2,752,336 Gross debt/equity ratio 2.0 2.2 Gross debt 5,821,536 6,108,092 Less: cash and cash equivalents (429,826) (353,316) Net debt 5,391,710 5,754,776 E2 Finance costs, net Group 2024 2023 $’000 $’000 Finance income Interest income – bank deposits 9,356 8,329 – finance lease 146 568 – others 7,907 4,448 Exchange gain, net 17,524 – Fair value changes of financial instruments – gain on forward currency contract not designated as hedging instrument 19 – Gain on ineffective portion/discontinuation of cash flow hedges 2,910 27,941 37,862 41,286 221 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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