EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 105 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CONT’D) 33. RELATED PARTY DISCLOSURES (CONT’D) (c) Compensation of keymanagement personnel Information regarding compensation of Directors and other key management personnel are as follows: Group Company 2020 2019 2020 2019 RM RM RM RM Restated Restated Fees 491,000 496,335 491,000 496,335 Salaries, and other emoluments 1,961,735 1,920,843 1,961,735 1,920,843 Defined contribution plans 241,001 245,881 241,001 245,881 Social security contributions 7,387 7,733 7,387 7,733 2,701,123 2,670,792 2,701,123 2,670,792 34. SEGMENT INFORMATION The Company and its subsidiary companies are principally engaged in the development, provision and maintenance of computer software application solutions for the financial services industry. The Company has arrived at three (3) reportable segments that are organised and managed separately according to the nature of products and services, which requires different business and marketing strategies. The reportable segments are summarised as follows: (a) Application solutions division Sales of software application and product on an outright purchase basis (b) Maintenance services division Provision of maintenance services (c) Application services provider division Income from outsourcing services charge which is volume and transaction based The accounting policies of operating segments are the same as those described in the summary of significant accounting policies. The Group evaluates performance on the basis of profit or loss fromoperations before tax. Group income taxes are managed on a group basis and are not allocated to operating segments. Inter-segment revenue is priced along the same lines as sales to external customers and is eliminated in the consolidated financial statements. These policies have been applied consistently throughout the current and previous financial years. Capital expenditure consist of addition of property, plant and equipment, capital work-in-progress and right-of-use assets. Segment assets exclude tax assets and segment liabilities exclude tax liabilities.

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