PRG Holdings Berhad Annual Report 2017

• Annual Report 2017 139 29. EMPLOYEE BENEFITS Group 2017 2016 RM’000 RM’000 Wages, salaries and bonuses 31,100 27,096 Contributions to defined contribution plans 2,287 1,762 Social security contributions 2,218 2,012 Other benefits 4,559 4,247 40,164 35,117 Included in employee benefits of the Group are Executive Directors’ remuneration amounting to RM7,657,000 (2016: RM6,219,000). 30. RELATED PARTY DISCLOSURES (a) Identities 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 operating decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. The Group has a related party relationship with its subsidiaries, associates, joint venture, corporation in which a Director of an associate (formerly a subsidiary) has interest, Directors and key management personnel. (b) In addition to the transactions detailed elsewhere in the financial statements, the Group and the Company had the following transactions with related parties during the financial year which were carried out based on negotiated terms and conditions and mutually agreed with related parties: Group Company 2017 2016 2017 2016 RM’000 RM’000 RM’000 RM’000 Subsidiaries Dividend income - - 26,594 10,505 Interest income - - 2,519 2,373 Associates Business development fee 104 - - - Commission received/receivable 50 - - - Interest income 36 - - - Purchase of goods (9) - - - Progress billing payable (96) - - - Sales of goods 40 - - - Joint venture Commission received/receivable 81 64 - - Dividend income 440 319 - - Sales of goods 1,216 675 - - Purchase of materials (131) (284) - - Rental income 179 - - - Joint venture partner * Sale of goods 4,547 3,467 - - * The joint venture partner of the Group is Trunet (UK) Limited, a company that owns 50% of Trunet (Vietnam) Co., Ltd., a joint venture. N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 3 1 D E C E M B E R 2 0 1 7 ( C O N T ’ D )