176 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (cont’d) 31. RELATED PARTY DISCLOSURES (a) Subsidiaries The subsidiaries as disclosed in Note 5 to the financial statements. (b) Significant Related Party Transactions and Balances Other than those disclosed elsewhere in the financial statements, the Group and the Company also carried out the following significant transactions with the related parties during the financial year:- The Group The Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Substantial Shareholders Interest charged on CRNCPS 744 2,325 744 2,325 Redemption of 310,000,000 Keyfield CRNCPS held by a substantial shareholder via: - issuance of 80,000,000 new Keyfield ordinary shares at RM0.90 each 72,000 - 72,000 - - cash consideration 5,500 - 5,500 - Subsidiaries Advances to a subsidiary - - - 4,148 Advances from a subsidiary - - - 2,580 Interest charged to a subsidiary on advances - - - 673 Dividend received from subsidiaries: - ordinary shares - - 40,592 43,000 - CRCPS - - 298 450 Redemption of CRCPS by Keyfield Endeavour - - 22,500 - Payment made by a subsidiary - - - 3,160 Other Related Parties Rental of office units* 507 537 - - Note:- * - This was in relation to the transactions by Keyfield Offshore for rental of office units with 10 Tower Sdn Bhd and Helix Management Sdn Bhd. London Bridge Property Management Sdn Bhd has rented office units to 10 Tower Sdn Bhd and Helix Management Sdn Bhd, which then further rented the said office units to Keyfield Offshore. Calvin Lau Chuen Yien is the sole director and shareholder of London Bridge Property Management Sdn Bhd. Calvin Lau Chuen Yien is also a substantial shareholder of Lavin, a substantial shareholder of Keyfield. As such, this transaction is considered a related party transaction. The rental rate is based on the prevailing market rental rates for which an office space at the similar location can be rented from non-related parties.
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