SCC Holdings Berhad Annual Report 2018

SCC Holdings Berhad | Annual Report 2018 74. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2018 (CONT’D) 28. Related Party Disclosures (a) Identifying related parties 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 joint 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 Company and the party are subject to common control. Related parties may be individuals or other entities. Related parties also include key management personnel 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 comprise the Directors of the Company and certain members of senior management of the Group and of the Company. (b) Significant related party transactions Related party transactions have been entered into in the normal course of business under negotiated terms. In addition to the related party balances disclosed elsewhere in the financial statements, the significant related party transactions of the Group and of the Company are as follows: 2018 2017 RM’000 RM’000 Group Rental paid - McDota (M) Sdn. Bhd.* 48 48 - Mr Cher Hwee Seng 108 108 - Sim Ah Choon# 60 60 Company Management fee income - SCC Corporation Sdn. Bhd. 2,208 2,208 - Anitox (M) Sdn. Bhd. 588 588 - SCC Food Manufacturing Sdn. Bhd. 402 402 - Positive Insight Sdn. Bhd. 390 390 Dividend income - SCC Corporation Sdn. Bhd. 3,213 3,359 - Anitox (M) Sdn. Bhd. 2,120 1,800 * A company in which certain Directors have substantial financial interests # Spouse of Mr Cher Sew Seng