Page 275 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS in retrospect

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for the financial year ended 31 december 2020 (continUed)
the Will to Suceed

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46 RELATED PARTY TRANSACTIONS
for the purposes of these financial statements, parties are considered to be related to the Group if the Group or the company
has the ability, directly or indirectly, to control or jointly control the party or exercise significant influence over the other party achieving a leading repute
in making financial and operating decisions, or vice versa, or where the Group or the company and the party are subject to
common control. related parties may be individuals or other entities.

the Group and the company has a related party relationship with its subsidiaries (see note 14) and holding corporation of the |
company.
(a) the significant related party transactions of the Group and the company which are not disclosed elsewhere, other than
key management personnel compensation, are as follows: Paving the Way for a Sustainable future
Group Company
transaction for transaction for
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000
Holding Company
Wakalah incentive fee 576 446 – – 269
brokerage income 416 268 – –
contribution income for General takaful 6 3,219 – –
fees and commission – 38 – –
office rental received 66 64 – –
Profit paid on Sukuk liabilities 57,083 58,435 54,735 52,685
rental of premises paid 1,384 1,361 – –
Profit attributable on deposits placed 59,996 43,671 – – adhering to the best Governance Practices
claims paid for General takaful 737 271 – –
other rental paid 383 496 – –
takaful contribution refunded 5 – – –
depreciation of right-of-use assets 13,311 13,314 – –
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Profit expense on leases 17,524 17,876 – –
Subsidiaries
income receivable on deposits placed – – 9,347 9,658
takaful contribution refunded – – – 18 Laying the Foundation for Financial Growth
office rental received – – 23 –
office rental paid – – 1,038 1,029
other expenses – – 111 129
contribution paid for General takaful – – 67 80
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Other related companies
takaful contribution received 1,078 1,686 – –
income received from financing,
advances and others 239 356 – – additional information & disclosure Summary
fees and commission received 177 141 – –
Profit attributable on deposits placed 2,144 1,919 – –
office rental paid – 448 – –
takaful claims paid 53 168 – –
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24 th aGm information