EXCEL FORCE MSC BERHAD 99 Notes to the Financial Statements (cont’d) 31. RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES The table below show the details changes in the liabilities of the Group and of the Company arising from financing activities: At 1 January New lease (Note 5) Financing cash flows * At 31 December RM RM RM RM Group and Company 2021 Lease liabilities 1,005,317 - (333,200) 672,117 2020 Lease liabilities 353,091 1,032,562 (380,336) 1,005,317 * Financing cash flows represents payment of lease liabilities in the statements of cash flows. 32. 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 of the Group include: (i) Direct subsidiary companies as disclosed in Note 8; (ii) Company in which a Director of the Company has substantial financial interest; and (iii) Key management personnel who are 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 include the Directors and certain members of the senior management of the Group.
RkJQdWJsaXNoZXIy NDgzMzc=