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Food Empire Holdings Limited Annual Report 2013
155
39. Capital management
The primary objective of the Group’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in
order to support its business and maximize shareholder value.
The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust
the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. No
changes were made in the objectives, policies or processes during the years ended 31 December 2013 and 31 December 2012.
The Group monitors its capital structure as follows:
2013
2012
US$’000
US$’000
Interest-bearing loans and borrowings (Note 30)
32,228
12,890
Finance lease creditors (Note 35)
52
47
Trade payables and accruals (Note 27)
31,263
27,593
Other payables (Note 28)
5,873
8,398
Less:
Cash and cash equivalents (Note 26)
(27,664)
(46,596)
Net debt
41,752
2,332
Equity attributable to the equity holders of the Company
165,952
161,414
Capital and net debt
207,704
163,746
Gearing Ratio
20%
1%
40. Authorisation of financial statements
The financial statements for the year ended 31 December 2013 were authorised for issue in accordance with a resolution of the Directors
on 20 March 2014.
notes to the financial statements
For the year ended 31 December 2013