Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 183 FINANCIAL STATEMENTS CORPORATE GOVERNANCE ANALYSIS OF SHAREHOLDINGS OTHER INFORMATION ANNUAL GENERAL MEETING 36 RELATED PARTIES (CONTINUED) Notes: The Group has entered into the above related party transactions with parties whose relationships are set out below. Usaha Tegas Sdn. Bhd. (“UTSB”), STC and Harapan Nusantara Sdn. Bhd. are parties related to the Company, by virtue of having joint control over MCB via BGSM, pursuant to a shareholders’ agreement in relation to BGSM. MCB is the immediate holding company of the Company. UTSB is ultimately controlled by PanOcean Management Limited (“PanOcean”), via Excorp Holdings N.V. and Pacific States Investment Limited, the intermediate and immediate holding companies of UTSB respectively. PanOcean is the trustee of a discretionary trust, the beneficiaries of which are members of the family of Ananda Krishnan Tatparanandam (“TAK”) and foundations including those for charitable purposes. Although PanOcean and TAK are deemed to have an interest in the shares of the Company through UTSB’s deemed interest in BGSM and MCB, they do not have any economic or beneficial interest in the shares as such interest is held subject to the terms of the discretionary trust. TAK also has a deemed interest in the shares of the Company via an entity which is a direct shareholder of BGSM and held by companies ultimately controlled by TAK. (1) Subsidiary of Astro Holdings Sdn. Bhd. (“AHSB”), an associate of UTSB (2) A major shareholder of BGSM, who has joint control over BGSM, the ultimate holding company of the Company (3) Subsidiaries of MCB (4) Subsidiary of UTSB (5) Companies controlled by TAK (6) Associate of AHSB, an associate of UTSB (7) Subsidiary of the Company and associate of AHSB. The transaction values and outstanding balances are eliminated in the consolidated financial statements Company 2012 2011 RM’000 RM’000 Amount charged by a subsidiary: - management fees 12,742 11,743 Payment on behalf of operating expenses for subsidiaries 79 1,077