NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 252 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 37. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D.) Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Transactions (cont’d.) Expenditure incurred (cont’d.): Incentive fees- management fees income: - Subsidiary - - 1,787 1,920 Incentive fees- agent: - Subsidiary - - 1,012 986 Service charge: - Subsidiary - - 887 921 Balances Amount due from: Loans, advances and financing: - Subsidiaries - - 38,000 70,000 Commitment and guarantee fees receivables: - Subsidiaries - - 30 15 Other receivables: - Subsidiaries - - 27,784 30,581 - Related company 53 49 53 49 Amount due to: Deposits and placements: - Subsidiaries (Note 20) - - 154,119 138,227 - Related company (Note 20) 313,160 264,897 313,160 264,897 - Other related party - 90,666 - 90,666 - Key management personnel 897 885 897 885 Balances due to clients and brokers: - Key management personnel 604 73 604 73 Interest receivable on loan, advances and financing: - Subsidiaries - - 67 116 Interest payable on deposits: - Subsidiaries - - 451 499 - Related company 2,007 1,157 2,007 1,157
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