PRG Holdings Berhad Annual Report 2019

ANNUAL REPORT 2019 171 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 34. 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 ventures, corporation in which a Director of an associate 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 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Subsidiaries Interest income - - 2,668 2,668 Associates Business development fee 211 206 - - Commission received/receivable 172 109 - - Interest income 140 137 - - Purchase of goods - (114) - - Progress billing payable (507) (2,479) - - Sales of goods 543 66 - -