In line with industry practices, the Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.
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|
As of December 31, |
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|||||
|
|
|
2017 |
|
|
2016 |
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||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Interest bearing loans and borrowings |
|
|
41,151 |
|
|
|
28,225 |
|
|
Trade and other payables |
|
|
28,850 |
|
|
|
30,023 |
|
|
Less: cash and cash equivalents |
|
|
(46,093 |
) |
|
|
(48,231 |
) |
|
Net debt |
|
|
23,908 |
|
|
|
10,017 |
|
|
Total Equity |
|
|
222,826 |
|
|
|
197,175 |
|
|
Capital and net debt |
|
|
246,734 |
|
|
|
207,192 |
|
|
Gearing ratio |
|
|
9.7 |
% |
|
|
4.8 |
% |