EXCEL FORCE MSC BERHAD 107 Notes to the Financial Statements (Cont’d) 33. Related Party Disclosures (Cont’d) (c) Compensation of key management personnel Information regarding compensation of Directors and other key management personnel are as follows: Group Company 1.1.2022 to 30.6.2023 1.1.2021 to 31.12.2021 1.1.2022 to 30.6.2023 1.1.2021 to 31.12.2021 RM RM RM RM Fees 628,000 463,290 628,000 463,290 Salaries, and other emoluments 3,019,561 1,991,895 2,711,561 1,935,895 Defined contribution plans 360,874 244,342 323,914 237,622 Social security contributions 11,973 7,080 11,068 6,926 Other benefits - 146,000 - - 4,020,408 2,852,607 3,674,543 2,643,733 34. Segment Information The Company and its subsidiary companies are principally engaged in the development, provision and maintenance of computer software application solutions for the financial services industry. The Group has arrived at three (3) reportable segments that are organised and managed separately according to the nature of products and services, which requires different business and marketing strategies. The reportable segments are summarised as follows: (a) Application solutions division Sales of software application and product on an outright purchase basis (b) Maintenance services division Provision of maintenance services (c) Application services provider division Provision of application services on monthly recurring fixed and variable charges The accounting policies of operating segments are the same as those described in the summary of significant accounting policies. The Group evaluates performance on the basis of profit or loss from operations before tax. The Group income taxes are managed on a group basis and are not allocated to operating segments. Inter-segment revenue is priced along the same lines as sales to external customers and is eliminated in the consolidated financial statements. These policies have been applied consistently throughout the current financial period and previous financial years. Capital expenditure consist of addition of property, plant and equipment, right-of-use assets and product development costs. Segment assets exclude tax assets and segment liabilities exclude tax liabilities.
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