Article On Green Packet

I was reading Star Business version on Green Packet's losses: Aggressive broadband rollout pulls Green Packet deeper in red

• .... At a press conference yesterday, group managing director and chief executive officer C.C. Puan maintained that the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) would turn positive by the first quarter of next year.
  
  “We’re confident of breaking even no later than the first quarter. We’re looking at full turnaround next year in terms of both EBITDA and profitability,” he said.
  
  Puan added that P1 had been in operations for under two years and breaking even within that time period for a telco was unheard of.
  
  “P1 is less than two years old. It is unprecedented for a telco to break even within two years in this country. Other telcos such as DiGi and Celcom took longer.”
  
  As at June 30, Green Packet had a net debt of RM99.18mil. Its capital expenditure incurred stood at RM517mil. Puan said the company would allocate RM500mil in capital expenditure for the next two years to increase its broadband coverage to 65% of the country.
  
  For the period ended June 30, its cash and cash equivalents stood at RM103mil while its debts totalled RM158.91mil.

Debts totalled 158.91 million????

Here's the section taken from Green Packet's earnings.

GPB - Unaudited Results Q2 2010.pdf

See page 11:

The balance sheet, page 2.



I am baffled.

Isn't guaranteed redeemable convertible exchangeable bonds a form of debt security? And isn't a debt security a form of debt?

Isn't hire purchase and finance lease liabilities another form of debt?

So bank borrowings only 158.91 million?

huh?