ENRA Group Berhad Annual Report 2018

109 A N N U A L R E P O R T 2 0 1 8 NOTES TO THE FINANCIAL STATEMENTS 31 March 2018 cont’d 38. CONTINGENT LIABILITIES Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Unsecured Corporate guarantees given by the Company for credit facilities granted to the subsidiary 29,993 50,995 29,993 50,995 Secured Bank guarantee given to customer in respect of contract in a subsidiary 2,317 - - - Bank guarantee given to suppliers in respect of goods supplied to a subsidiary 1,872 5,493 - - 4,189 5,493 - - The Directors are of the opinion that the fair value of the corporate guarantees is negligible as the possibility of any outflow in settlement arising from the default of credit facilities is remote. 39. 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 of the Company.