PRG Holdings Berhad Annual Report 2020

36. RELATED PARTY DISCLOSURES (continued) (d) Transactions with corporation in which a Director of an associate has interest The aggregate value of transactions and outstanding balances relating to corporation in which a Director of an associate has interest were as follows: Transaction value Balance for the year ended outstanding as at 31 December 31 December 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Shann Australia Pty. Ltd. - Sales 768 701 - 255 The Group sells goods to Shann Australia Pty. Ltd., a company that owns 3.27% (2019: 3.27%) of Furnitech Components (Vietnam) Co., Ltd., an associate of the Group. The related party transactions described above were carried out based on negotiated terms and conditions and mutually agreed with related parties. 37. OPERATING SEGMENTS PRG Holdings Berhad and its subsidiaries are principally engaged in the manufacturing and sale and marketing of webbings, yarn, furniture components, rubber strips and fabrics as well as being involved in property development, construction, retail and healthcare. The Group has arrived at four (4) reportable segments that are organised and managed separately according to the nature of products and services, specific expertise and technologies requirements and which requires different business and marketing strategies. The reportable segments are summarised as follows: (i) Manufacturing The manufacturing and sale and marketing of rubber strips and sheets and narrow elastic fabrics, upholstery webbings, covered elastic yarn, rigid webbings, safety webbings, metal components for furniture, PVC and other plastic products and trading. (ii) Retail Principally engaged in the retail sale of clothing, footwear and ancillary accessories. (iii) Property development and construction Development and construction of residential and commercial properties. (iv) Agriculture Principally engaged in the harvesting and selling of teak logs activities. Other operating segments that do not constitute reportable segments comprise operations related to investment holding and healthcare. Annual Report 2020 171 Notes to the Financial Statements 31 December 2020 cont’d