35 SIGNIFICANT RELATED PARTYTRANSACTIONS In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions and balances. Federal Land Development Authority (“FELDA”), the Group and Company’s ultimate holding body effective from 24 December 2020, is a statutory body corporate set up under the Land Development Act 1956, and controlled by theMalaysian Government. The Group considers that, for the purpose of MFRS 124 – “Related Party Disclosures”, FELDA and the Malaysian Government is in the position to exercise significant influence over it. As a result, the Malaysian Government and Malaysian Government controlled bodies (collectively referred to as “government-related entities”) are related parties of the Group and the Company. Apart from the individually significant transactions as disclosed in the financial statements, the Group and the Company have collectively, but not individually, significant transactions with other government-related entities which include but not limited to the following: • Deposit placing with and deposit taking from government-related entities • Utilities services provided by the government-related entities These transactions are conducted in the ordinary course of the Group’s business on terms consistently applied in accordance with the Group’s internal policies and processes. These terms do not depend on whether the counterparties are government-related entities or not. Related parties and their relationship with the Group are as follows: Related parties Relationship Federal Land Development Authority (“FELDA”) Ultimate holding body FGV Holdings Berhad (“FGVH”) Immediate holding company Koperasi Permodalan FELDA Malaysia Berhad (“KPF”) Related company Felda Holdings Berhad (“FHB”) Subsidiary of FGVH FGV Capital Sdn Bhd (“FGVC”) Subsidiary of FGVH MSM Perlis Sdn Bhd (“MSM Perlis”) Subsidiary of FGVH FGV Integrated Farming Holdings Sdn Bhd (“FGVIF”) Subsidiary of FGVH FGV R&D Sdn Bhd (“FGV R&D”) Subsidiary of FGVH KPF Trading Sdn Bhd (Felda Trading Sdn Bhd) (“KPF Trading”) Subsidiary of KPF KPF Niaga Sdn Bhd (“KPF Niaga”) Subsidiary of KPF Felda D’Saji Sdn Bhd (“D’Saji”) Subsidiary of KPF FGV Prodata Systems Sdn Bhd (“FPSB”) Subsidiary of FHB FGV Security Services Sdn Bhd (“FSS”) Subsidiary of FHB FGV Transport Sdn Bhd (“FGVT”) Subsidiary of FHB Felda Travel Sdn Bhd (“Felda Travel”) Subsidiary of FHB FGV Agri Services Sdn Bhd (“FASSB”) Subsidiary of FHB Delima Oil Products Sdn Bhd (“D.O.P”) Subsidiary of FHB FGV Kernel Products Sdn Bhd (“FKPSB”) Subsidiary of FHB Felda Engineering Services Sdn Bhd (“Felda Engineering”) Subsidiary of FHB MSM Sugar Refinery (Johor) Sdn Bhd (“MSM Johor”) Subsidiary company MSM Logistics Sdn Bhd (“MSM Logistics”) Subsidiary company MSM Prai Berhad (“MSM Prai”) Subsidiary company MSMTrading & Distribution Sdn Bhd (“MSMTrading”) Subsidiary company MSMTrading International DMCC (“MSMTrading International”) Subsidiary company NOTESTOTHE FINANCIAL STATEMENTS FORTHE FINANCIALYEAR ENDED 31 DECEMBER 2021 WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOWWE OPERATE MSM Malaysia Holdings Berhad ANNUAL INTEGRATED REPORT 2021 360
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