KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED SHAREHOLDERS’ INFORMATION NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 FINANCIAL STATEMENTS ADDITIONAL INFORMATION OUR VALUE CREATION APPROACH 265 264 37. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D.) Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Transactions (cont’d.) Expenditure incurred (cont’d.): Incentive fees- management fees income: - Subsidiary - - 1,222 1,787 Incentive fees- agent: - Subsidiary - - 1,215 1,012 Service charge: - Subsidiary - - 367 887 Balances Amount due from: Loans, advances and financing: - Subsidiaries - - 58,000 38,000 Commitment and guarantee fees receivables: - Subsidiaries - - 21 30 Other receivables: - Subsidiaries - - 33,866 27,784 - Related companies 79 53 79 53 Deposit for Index trading: - Subsidiary - - 496 759 Amount due to: Deposits and placements: - Subsidiaries - - 142,222 154,119 - Related companies 289,678 313,160 289,678 313,160 - Key management personnel 2,071 897 2,071 897 Balances due to clients and brokers: - Key management personnel 68 604 68 604 Interest receivable on loan, advances and financing: - Subsidiaries - - 169 67 Interest payable on deposits: - Subsidiaries - - 379 451 - Related company 2,084 2,007 2,084 2,007 37. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D.) Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Balances (cont’d.) Other payables: - Subsidiaries - - 267 9 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 2024 RM’000 2023 RM’000 Outstanding credit exposures with connected parties 192,530 190,000
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