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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
17. TRADE RECEIVABLES, OTHER RECEIVABLES, DEPOSITS AND PREPAID EXPENSES (CONT’D)
Included in trade receivables of the Group are the following amounts owing by the related parties:
The Group
2016
2015
RM
RM
A & I Engine Rebuilders Sdn. Bhd.
541
721
AMT Engineering Sdn. Bhd.
5,954
9,148
Tenaga-Tech (M) Sdn. Bhd.
11,793
-
18,288
9,869
The said amount, which arose mainly from trade transactions, is unsecured, interest-free and repayable on demand.
The amount owing is to be settled in cash.
The related parties and their relationships with the Group are as follows:
Name of related parties
Relationship
A & I Engine Rebuilders Sdn. Bhd.
A company in which Sia Chiok Meng, a director of a subsidiary, is also a director
and has a financial interest.
AMT Engineering Sdn. Bhd.
A company in which Sia Chiok Meng, a director of a subsidiary, is also a director
and has a financial interest.
Tenaga-Tech (M) Sdn. Bhd.
A company in which Mohd Shukri Bin Hitam and Fauziah Binti Hamlawi, directors
of a subsidiary, are also directors and have financial interest.
Frontken (Thailand) Co., Ltd.
An associated company.
Transactions undertaken with related parties during the financial year are as follows:
The Group
2016
2015
RM
RM
A & I Engine Rebuilders Sdn. Bhd.
Sales
1,625
1,340
AMT Engineering Sdn. Bhd.
Sales
18,527
43,840
Purchases
1,175
1,089
Rental expense
144,000
144,000
Tenaga-Tech (M) Sdn. Bhd.
Sales
27,400
-
Purchases
202,342
609,010
Rental expense
-
107,870
Cleanpart Dresden GmbH & Co. Kg
Sales
-
118,077
Frontken (Thailand) Co., Ltd.
Purchases
-
27,554
Notes To The Financial Statements
(cont’d)