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Section 06 Financial Statements
163

40. SIGNIFICANT RELATED PARTIES TRANSACTION AND BALANCES
For the purposes of these financial statements, parties are considered to be related to the Group and the Bank, if the Group
or the Bank has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making
financial and operating decisions, or vice versa, or where the Group or the Bank and the party are subject to common control
or common significant influence. Related parties may be individuals or other entities.

The Group has related party transactions and balances with the following parties:
(a) Compensation of key management personnel
Key management personnel is defined as those persons having authority and responsibility for planning, directing and
controlling the activities of the Group either directly or indirectly. The key management personnel consists of the President/
Chief Executive Officer and senior management of the Group and the Bank. The key management personnel compensation
is disclosed in Note 31.
(b) The significant outstanding balances of the Bank with the related companies are as follows:

Bank
2020 2019
RM’000 RM’000

Amount due to subsidiaries 64,120 64,123

(c) Government related parties

Included in the financial position of the Group and the Bank are the amounts due from The Government of Malaysia relating
to management fee represented by the following:

Group and Bank
2020 2019
RM’000 RM’000
Amount due from The Government of Malaysia 2,699 2,114

The transaction of management fee represented by the following:
Group and Bank
2020 2019
RM’000 RM’000

Transaction during the year
Other income: Management fee 539 539