35. RELATED PARTY DISCLOSURES (continued) (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 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Subsidiaries Management fees payable - - 900 1,703 Interest income - - - 1,334 Associates Business development fee - 77 - - Commission received/receivable - 70 - - Rental income 60 - - - Interest income - 142 - - Purchase of goods - (79) - - Progress billing payable (289) (293) - - Sales of goods 4 59 - - Joint venture Commission received/receivable 92 88 - - Dividend income 1,035 - - - Sales of goods 789 636 - - Sales of services 57 62 - - Purchase of materials (83) (94) - - Rental income 94 51 - - Joint venture partner * Sale of goods 1,479 1,461 - - * The joint venture partner of the Group is Trunet (UK) Limited, a company that owns 50% of Trunet (Vietnam) Co., Ltd., a joint venture of the Group. NOTES TO THE FINANCIAL STATEMENTS 171 P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 31 December 2021 (cont’d)
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