136
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
33. RELATED PARTIES DISCLOSURES
(a) Identities of related parties
Parties are considered to be related to the Group if the Group 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 and the party are subject to common control or common
significant influence. Related parties could be individuals or other parties.
Related parties of the Group include:
(i) Direct and indirect subsidiaries as disclosed in Note 10 to the financial statements;
(ii) Direct and indirect joint ventures as disclosed in Note 11 to the financial statements;
(iii) Key management personnel are defined as those persons having the authority and responsibility
for planning, directing and controlling the activities of the Group either directly or indirectly. The
key management personnel includes all the Directors of the Company, and certain members of
senior management of the Group; and
(iv) Microtree Sdn. Bhd. (“Microtree”) whereby a substantial shareholder of the Company, Goh Kuan
Ho, is also the General Manager of Microtree.
(b) In addition to the transactions and balances detailed elsewhere in the financial statements, the Group
and the Company had the following transactions with related parties during the financial year:
Group
Company
2014
2013
2014
2013
RM
RM
RM
RM
Subsidiaries:
Sales of other hardware
-
-
1,226,077 1,941,700
Rental and license fee
-
-
3,570,550 3,423,550
Hosting services
-
-
319,500
312,000
Purchase of goods and services
-
-
1,302,252 1,382,740
Related parties:
Supply of EuroPay
- MasterCard-Visa chip-based cards
and/or data preparation and
personalisation of chip-based cards;
supply of computer hardware and
software; sales of payment solutions;
sales and rental of EDC terminals and
other related services to e-pay (m)
Sdn Bhd
308,995 1,680,027
304,344
331,520
