ENRA Group Berhad | Annual Report 2022 149 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 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. Related parties of the Group include: (i) Direct and indirect subsidiaries as disclosed in Note 6 to the financial statements; (ii) Key management personnel, which comprises persons (including the Directors of the Company) having authority and responsibility for planning, directing and controlling the activities of the Group directly or indirectly; and (iii) Company in which a Director is also a Director cum shareholder of the Company. (b) Significant related party transactions and balances In addition to the transactions and balances detailed elsewhere in the financial statements, the Company had the following transactions with related parties during the financial year: Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Related party: Disposal of subsidiary 25,500 – – – Subsidiaries: Interest income – – 3,514 3,142 Dividend income – – 24,391 – Lease income – – 15 9 Management fees received/ receivable – – 644 3,828 Transfer of subsidiary – – – 5,001 The related party transactions described above were carried out on terms and conditions mutually agreed with the respective parties. Balances of the above related parties are disclosed in Notes 11 and 19 to the financial statements.
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