MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS MISC BERHAD | Annual Report 2017 266 32. RELATED PARTY DISCLOSURES (CONT'D.) (j) Compensation of key management personnel Key management personnel are defined as persons having authority and responsibility for planning, directing and controlling the activities of the Group and of the Corporation, directly or indirectly, including any director of the Group and of the Corporation. The remuneration of directors and other members of key management during the financial year were as follows: Group Corporation 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Directors Directors' remuneration (Note 7) 3,719 4,213 3,075 3,362 Other key management personnel Short-term employee benefits 25,028 28,068 7,629 5,697 Defined contribution plans 2,434 1,955 1,683 1,331 27,462 30,023 9,312 7,028 31,181 34,236 12,387 10,390 33. COMMITMENTS (a) Capital commitments Group Corporation 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Capital expenditure Approved and contracted for: Ships, offshore floating assets and other property, plant and equipment 3,128,691 3,956,625 1,129,195 2,487,269 Information and communication technology 13,390 18,492 8,839 16,173 3,142,081 3,975,117 1,138,034 2,503,442