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 267 266 38. CREDIT TRANSACTIONS AND EXPOSURES WITH CONNECTED PARTIES (CONT’D.) Group and Bank 2024 RM’000 2023 RM’000 Percentage of outstanding credit exposures to connected parties: - as a proportion of total credit exposures 5.55% 5.70% - which is impaired or in default - - The disclosure on Credit Transactions and Exposures with Connected Parties above is presented in accordance with paragraph 9.1 of BNM’s revised Guidelines on Credit Transactions and Exposures with Connected Parties issued on 16 July 2014, which will be effective from 1 January 2008. Based on these guidelines, connected parties refer to the following: (i) Directors of the Bank and their close relatives; (ii) Controlling shareholder and his close relatives; (iii) Executive officer, being a member of management having authority and responsibility for planning, directing and/or controlling the activities of the Bank, and his close relatives; (iv) Officers who are responsible for or have the authority to appraise and/or approve credit transactions or review the status of existing credit transactions, either as a member of a committee or individually, and their close relatives; (v) Firms, partnerships, companies or any legal entities which control, or are controlled by any person listed in (i) to (iv) above, or in which they have an interest, as a director, partner, executive officer, agent or guarantor, and their subsidiaries or entities controlled by them; (vi) Any person for whom the persons listed in (i) to (iv) above is a guarantor; and (vii) Subsidiary of or an entity controlled by the Bank and its connected parties. 39. COMPENSATION OF KEY MANAGEMENT PERSONNEL The remuneration of Directors and other members of key management during the financial year was as follows: Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Group Managing Director - Short term employee benefits 4,403 2,956 4,403 2,956 - Post-employment benefits: EPF 600 463 600 463 Senior Management - Short term employee benefits 21,757 19,103 12,998 11,296 - Post-employment benefits: EPF 3,269 2,910 1,967 1,730 30,029 25,432 19,968 16,445 Key management personnel are defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Bank either directly or indirectly including all executive directors and senior management. 40. DIRECTORS’ REMUNERATION Remuneration in aggregate for Directors for the financial year is as follows: Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Directors of the Bank: Non-executive directors’ remuneration: - Fees 3,530 3,362 3,166 3,010 - Other remuneration, including meeting allowance 570 568 456 466 Total directors’ remuneration 4,100 3,930 3,622 3,476 Estimated money value of benefits-in-kind 31 68 31 68 Total for directors of the Bank (Note 34) 4,131 3,998 3,653 3,544
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