7 213 212 Notes to the Financial Statements Notes to the Financial Statements 32. CAPITAL MANAGEMENT (CONTINUED) The summary of quantitative data used in capital management is as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Net debt (excluding lease liabilities) Loans and borrowings (note 19) 1,255,066 1,360,395 438,592 641,834 Less: Cash and cash equivalents (note 16) (346,499) (481,131) (18,285) (14,915) 908,567 879,264 420,307 626,919 Total equity 2,887,246 2,706,407 1,106,932 1,100,282 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 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 and Directors. Significant related party transactions Related party transactions have been entered into in the normal course of business under negotiated terms. The significant related party transactions of the Group and the Company are as below. The balances related to the below transactions are shown in Note 10 and Note 20. 33. RELATED PARTIES (CONTINUED) Significant related party transactions (continued) Group 2023 RM’000 2022 RM’000 With companies in which certain Directors and/or person(s) connected to them have interests: M.B. Agriculture (Sandakan) Sdn. Bhd.: Sales (8,057) (11,393) Purchases 666 520 M.B. Agriculture (Sabah) Sdn. Bhd.: Sales (4,454) (28,171) Arena Dijaya Sdn. Bhd.: Sales (4,989) (9,170) Highglobal Properties Sdn. Bhd.: Purchases 1,377 1,111 Sin Teow Fatt Trading Co.: Purchases 897 936 Cheah Joo Kiang Enterprise: Sales (6,283) (5,461) E Koon Trading: Purchases 2,440 2,241 Fusipim Sdn. Bhd.: Sales (351) (1,315) Eita Electric Sdn. Bhd.: Purchases 1,799 1,096 With companies in which certain directors of certain subsidiaries and person(s) connected to them have interests: Perikanan Sri Tanjung Sdn. Bhd.: Purchases 1,057 815 Timurikan Trengganu Sdn. Bhd.: Purchases 654 56 Primem (Chenzhou) Co. Ltd.: Purchases 310 628 Associates Gross dividends received (605) (394) Warehousing services 8,306 9,119 Subsidiaries Finance income (31,461) (38,923) Dividend received (176,932) (172,607) Finance costs 5,420 3,645 Management fee expense 8,157 7,432
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