NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 253 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 37. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D.) Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Balances (cont’d.) Deposit for Index trading: - Subsidiary - - 759 697 Other payables: - Subsidiaries - - 9 40 Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions, or if one other party controls both. The related parties of the Bank are: (i) Subsidiaries Details of the subsidiaries are shown in Note 13. (ii) Associates Details of the associates are as disclosed in Note 14. (iii) Joint Ventures Details of the joint ventures are disclosed in Note 15. (iv) Other related parties Name Relationship Cahya Mata Capital Sdn Bhd Substantial shareholder of the Bank Cahya Mata Sarawak Berhad Holding company of a substantial shareholder of the Bank The Directors are of the opinion that the above transactions were entered into in the normal course of business and have been established under terms that are no less favourable than those obtainable in transactions with unrelated parties. 38. CREDIT TRANSACTIONS AND EXPOSURES WITH CONNECTED PARTIES Credit transactions and exposures to connected parties as disclosed below include the extension of credit facilities and/or offbalance sheet credit exposures such as loan commitments: Group and Bank 2023 RM’000 2022 RM’000 Outstanding credit exposures with connected parties 190,000 193,301
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