QL Resources Berhad (428915-X)
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32. 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 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. The key management
personnel include all the Directors of the Group.
The Group and the Company have related party relationship with its subsidiaries, associates, Directors and key
management personnel.
Significant related party transactions
Related party transactions have been entered into in the normal course of business under normal trade terms. The
significant related party transactions of the Group and the Company are as follows:
Group
2016 2015
RM’000 RM’000
With companies in which Dr. Ng Siew Thiam,
Chia Song Kun, Chia Song Phuan, Chia Teow Guan,
Cheah Yaw Song, Cheah Juw Teck, Chia Song Pou,
Chia Seong Fatt, Chia Song Swa, Chia Song Kooi,
Heng Hup Peng and Sim Chin Swee, Directors of
certain subsidiaries have interests
Success Portfolio Sdn. Bhd.:
Sales (4,802) (5,387)
MB Agriculture (Sandakan) Sdn. Bhd.:
Sales (7,037) (6,200)
Purchases 775 947
MB Agriculture (Sabah) Sdn. Bhd.:
Sales (16,882) (13,412)
Arena Dijaya Sdn. Bhd.:
Sales (5,369) (4,021)
Keang Huat Trading Sdn. Bhd.:
Purchases 3,184 3,892
Perikanan Sri Tanjung Sdn. Bhd.:
Purchases 751 920
Visible Triumph Sdn. Bhd.:
Sales - (1,638)
Green Breeder Sdn. Bhd.:
Sales (21,332) (17,972)
Timurikan Trengganu Marine Products Sdn. Bhd.:
Sales (131) (150)
Purchases 83 629
C-Care Enterprise Sdn. Bhd.:
Sales (728) (3,345)
Purchases - 149
Sin Teow Fatt Trading Co.:
Purchases 778 614
Hai Hong Fishery Sdn. Bhd.:
Purchases 445 479
Notes to the Financial Statements
(Cont’d.)
