Page 187 - S P Setia Annual Report 2016
P. 187

S P Setia Berhad Group                                                                                185
          Annual Report 2016




                                                                               Notes To The Financial Statements

                                                                                  For The Financial Year Ended 31 December 2016

          37.   RELATED PARTY DISCLOSURES (CONT’D.)

              (a)   Significant related party transactions during the financial year/period are as follows (cont’d.):

                                                     Transaction value                     Balance outstanding
                                               Group             Company              Group             Company
                                          1.1.2016   1.11.2014  1.1.2016   1.11.2014
                                               to        to       to        to
                                        31.12.2016 31.12.2015 31.12.2016 31.12.2015  2016    2015      2016     2015
                                          RM’000    RM’000    RM’000   RM’000    RM’000    RM’000   RM’000    RM’000

                   Transactions with former
                     Director of the Company
                   Sale of development
                     properties to
                   -  Tun Dato’ Seri Zaki Bin
                     Tun Azmi                   -        -         -         -        -        48         -        -
                   Transactions with former
                     Director of subsidiary
                     companies

                   Estate management fee
                     charged to
                   -  Norhayati Binti Subali    -        17        -         -        -         -         -        -
                   Transactions with Director
                     of jointly controlled
                     entities and close family
                     members of the Director

                   Sale of development
                     property to
                   -  Ling Thou Lung and
                     close family member    1,275        -         -         -        -         -         -        -

                   Transactions with shareholders and Government

                   Permodalan Nasional Berhad (“PNB”), a government-linked entity, is a shareholder of the Company, with direct shareholding of
                   27.98% (2015: 51.05%). PNB and entities directly controlled by PNB are collectively referred to as government-related entities to
                   the Group and the Company.

                   On 2 December 2016, PNB subscribed RM575,157,532 of the RCPS-i issued by the Company (see Note 20).

                   The transactions entered into with these government-linked corporations have been established on terms and conditions that
                   are not materially different from those obtainable in transactions with unrelated parties.
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