NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) FINANCIAL STATEMENTS 42. COMMITMENTS Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Capital expenditure Purchase of property and equipment 769,575 138,126 75,000 124,273 Purchase of right-of-use assets 220 - - - Development costs 63,455 83,187 63,455 - 833,250 221,313 138,455 124,273 43. Financial guarantee No provisions are recognised on the following matters as it is not probable that a future sacrifice of economic benefits will be required or the amount is not capable of reliable measurement: Company 2022 2021 RM’000 RM’000 Corporate guarantee Guarantee given to financial institutions for credit facilities granted to: - subsidiaries 43,458 33,140 44. RELATED PARTY DISCLOSURES (a) Identifying related parties For the purposes of these financial statements, parties are considered to be related to the Group and of the Company if the Group or the Company has the ability, directly or indirectly, to control or joint control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group or the Company and the party are subject to common control. Related parties may be individuals or other entities. Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group and of the Company either directly or indirectly. The key management personnel comprise the Directors and management personnel of the Group and of the Company, having authority and responsibility for planning, directing and controlling the activities of the Group and of the Company directly or indirectly. 229
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