bbipl vs bnb, page-5

>Does that fact that BNB has negative equity necessarily imply that BBIPL has negative equity?

BBIPL is equity accounted. Given, as correctly pointed out, that BNB owns almost 100% of BBIPL - there are minimal minorities recorded in the accounts.

What you see in the BNB annual and half year is the equity accounting of BBIPL.