()" MATERIAL#LITIGATION#(CONT’D") (ii) TCB!is!resisting!the!Claim!and!had!duly!filed!its!defence!on!$0!May!"#"$!and!also!filed!an!application!to!strike!out!the!Claim!on!""! July!"#"$'!As!at!the!reporting!date&!the!Claim!is!on-going!and!the!next!return!date!before!the!court!is!scheduled!on!/!May!"#"/' TCB!has!been!advised!by!its!legal!counsel!that!it!has!a!fair!chance!of!defeating!the!Claim!and!the!possibility!of!winning!the!case!is! subjected!to!evidence!and!documents!from!both!parties!as!well!as!interpretation!of!the!same!by!the!Court'!No!provision!for!any! liability!has!been!made!to!TCB’s!financial!statements!for!the!financial!year!ended!+$!December!"#"+!as!the!Board!is!confident!with! a!positive!outcome!of!the!suit' (iii) On!"/!August!"#"+&!a!suit!(“Suit”)!was!brought!by!RHB!Trustees!Berhad&!Sunway!REIT!Management!Sdn!Bhd!(“Sunway!REIT”)!and! Sunway!Education!Group!Sdn!Bhd!(“Sunway!Education”)!(collectively&!“Plainti0s”)!against!the!Company!and!Tropicana!Education! Management!Sdn!Bhd!(“TEM”)!(collectively&!“Defendants”)!in!relation!to!the!letter!of!o(er!concerning!the!proposed!sale!of!all!that! piece!of!land!where!the!St'!Joseph’s!Institution!International!School!Malaysia!(Tropicana!PJ!Campus)!is!located!(“Property”)!by! TEM!to!Sunway!REIT!and!the!proposed!sale!of!all!the!shares!in!Tropicana!SJII!Education!Management!Sdn!Bhd!(“TSEM”)!by!the! Company!to!a!“Sunway!Group!of!Company!to!be!identified”'! On!$#!October!"#"+&!a!counterclaim!was!brought!by!the!Defendants!against!the!Plainti(s'!On!$$!October!"#"+&!the!Defendants! filed!a!striking!out!application!against!the!Suit'!On!"+!November!"#"+&!the!Defendants!filed!a!leave!application!to!file!the!Reply!to! Defence!to!Counterclaim'!On!"!February!"#"1&!the!Plainti(s!filed!a!notice!of!application!for!interrogatories'!On!"!February!"#"1&! the!Plainti(s!filed!a!notice!of!application!for!discovery'!All!the!aforesaid!applications!are!fixed!for!hearing!on!0!August!"#"1' No!provision!for!any!liability!has!been!made!to!TCB’s!financial!statements!for!the!financial!year!ended!+$!December!"#"+!as!the! Board!is!confident!with!a!positive!outcome!of!the!suit' (*" CAPITAL#MANAGEMENT The!primary!objective!of!the!Group’s!and!of!the!Company’s!capital!management!is!to!ensure!that!it!maintains!a!strong!credit!rating!and! healthy!capital!ratios!in!order!to!support!its!business!and!maximise!shareholders’!value'! The!Group!and!the!Company!manage!their!capital!structure!and!make!adjustments!to!it&!in!light!of!changes!in!economic!conditions'!To! maintain!or!adjust!the!capital!structure&!the!Group!and!the!Company!may!adjust!the!dividend!payment!to!shareholders&!return!capital! to!shareholders!or!issue!new!shares'!No!changes!were!made!in!the!objectives&!policies!or!processes!during!the!financial!years!ended!+$! December!"#"+!and!+$!December!"#""' The!Group!and!the!Company!monitor!capital!using!a!gearing!ratio&!which!is!net!debt!divided!by!total!equity'!The!Group!and!the!Company! include!within!net!debt&!loans!and!borrowings!less!cash!and!bank!balances'! Group Company +"+$ +"++ +"+$ +"++ RM’""" RM’""" RM’""" RM’"""! Borrowings!(Note!+") !$%#&#%"+&! !+&00"&-%/! !#%"$,%($#! !$&0//&"-#! Less)!Cash!and!bank!balances!(Note!"%) !('""%'"+) !(%1-&,,1) !($+%,),) !($--&$-,) Net!debt !!+%&&"%'+)! !+&$"+&#,$! !#%""&%(.+! !$&//%&#-"!! Total!equity !'%."&%&.'! !/&0//&#$$! !)%+'.%,)'! !1&#+0&+,% Gearing!ratio !"*)&! !#'/1! !"*+)! !#'+-! The!gearing!ratio!is!not!governed!by!the!MFRS!and!its!definition!and!calculation!may!vary!from!one!group.company!to!another' NOTES TO THE FINANCIAL STATEMENTS FOR!THE!FINANCIAL!YEAR!ENDED!'$!DECEMBER!"%"' 300 ANNUAL REPORT 2023
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