Asia Media Annual Report 2018

111 | P a g e 24. SIGNIFICANT RELATED PARTY TRANSACTIONS (a) Identification of related parties Parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operational decisions, or vice versa, or where the Group and the party are subject to common control. Related parties may be individuals or other entities. Related parties of the Group include:- (i) Direct subsidiaries; (ii) Indirect subsidiaries; and (iii) Key management personnel which comprise persons (including the Directors of the Company) having the authority and responsibility for planning, directing and controlling the activities of the Company directly or indirectly. (b) Significant related party transactions During the financial year, the significant related party transactions are as follows:- (c) Key management personnel remuneration Included in key management personnel of the Group are the Directors of the Company and their remuneration as disclosed in Note 23 to the financial statements. Key management personnel are defined as the members of Board of Directors of the Company and its subsidiary companies whereby the authority and responsibility for planning, directing and controlling the activities of the Group and the Company, directly or indirectly lies. 2018 2017 RM RM Rental of premises charged by Peakmax Sdn. Bhd. 111,600 116,000 Group Name of related party Relationship Peakmax Sdn. Bhd. A company in which Dato' Wong Shee Kai and Teh Sew Wan also Directors and shareholders