Fraser & Neave Holdings Bhd Annual Report 2020

218 FRASER & NEAVE HOLDINGS BHD 196101000155 (4205-V) Notes to The Financial Statements (Cont’d.) 33. RELATED PARTIES IDENTITY OF RELATED PARTIES For the purposes of these financial statements, parties are considered to be related to the Group if the Group or the Company has the ability, directly or indirectly to control or jointly 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 either directly or indirectly and entities that provides key management personnel services to the Group. The key management personnel include all the Directors of the Group and certain members of senior management of the Group. The Group has related party relationship with its holding companies, significant investors, subsidiaries, associate, joint venture and key management personnel. SIGNIFICANT RELATED PARTY TRANSACTIONS Related party transactions had been entered into in the normal course of business under negotiated trade terms. The significant related party transactions of the Group and the Company are shown below. The balances related to the below transactions are shown in Note 12 and 19. Group Company Note 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 A. F&NL Group Sales of goods 269,561 266,876 – – Purchases of goods (169,306) (184,210) – – Royalties paid (49,477) (54,119) – – Internal audit fees paid – (1,275) – – Receipt of corporate service fees 3,211 1,581 – – Proceeds from disposal of intangible assets 35(B) 83,175 – – – B. Subsidiaries Dividend income 21 – – 272,035 213,220 Finance income – – 19,678 21,338 Management fees – – (407) (410) C. CHB Group Dividend income 6,221 3,733 6,221 3,733 D. VCSB Finance income 15 5,814 15 5,814 E. Thai Beverage Public Company Limited Group 33.1 Sales of goods 2,553 1,747 – – Purchases of goods (6,019) (2,845) – – Marketing expenses (20,887) (18,223) – – Corporate service fees paid (2,274) (1,999) – – Purchase of plant and machinery (4,023) – – – Other income/(expenses) 1,967 (483) – – F. BJC Group 33.1 Sales of goods 69,410 68,099 – – Purchases of goods (18,116) (20,237) – – Other expenses (10,599) (10,254) – –