BIMB Integrated Annual Report 2019

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 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: Group Company Transaction for Transaction for 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Holding Company Wakalah incentive fee 446 485 – – Brokerage income 268 608 – – Contribution income for General Takaful 3,219 6 – – Fees and commission 38 17 – – Office rental received 64 74 – – Profit paid on Sukuk Liabilities 58,435 95,297 52,685 89,547 Rental of premises paid 32,410 24,785 – – Profit attributable on deposits placed 43,671 76,230 – – Claims paid for General Takaful 271 234 – – Other rental paid 496 450 – – Leases 141 – – – Takaful contribution refunded – 1 – – Subsidiaries Income receivable on deposits placed – – 9,658 13,458 Takaful contribution refunded – – 18 2 Office rental paid – – 1,029 964 Other expenses – – 129 141 Contribution paid for General Takaful – – 80 68 Other related companies Takaful contribution received 1,686 1,165 – – Income received from financing, advances and others 356 210 – – Fees and commission received 141 92 – – Profit attributable on deposits placed 1,919 4,180 – – Office rental paid 448 447 – – Takaful claims paid 168 26 – – Takaful contribution refund – 35 – – NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 (CONTINUED) 264 Integrated Annual Report 2019 Group Overview Sustaining The Group Management Discussion & Analysis Group Governance