谁会出席这星期的AGM?

The borrowing of the IGB mainly is in the IGBREIT level. Below are the information of cash & borrowing of IGB & IGBREIT as at FY2014.

Cash(m) Debt(m) Net debt(m)
IGB - 1,100 (2,146) (1,046)
IGBREIT - 232 (1,223) (991)

From above, we can see that the net debt of IGB excluding IGBREIT is about 55m which is insignificant.

For IGBREIT, the borrowing of RM1.2b appears to be huge but it just represents about 25% of the market value of mid valley and garden combined and below the borrowing limit of REIT of 50% of its asset

The cash balance is not able to repay the borrowing when it due in FY16, but the company is most likely able to refinance its borrowing as it is charged against to Mid Valley mall which is a prime retail assets and provides a stable and recurring rental income of 300m pa and the interest payment is 55m pa and is just about 20% of its rental income.

to include net Changes in Working Capital in Free Cash Flow FCF because most of the company need to invest in the working capital ( buy inventories, give credit to customers etc ) to grow the business.