Tropicana Corporation Berhad Annual Report 2020

37. SIGNIFICANT RELATED PARTY TRANSACTIONS In addition to the related party information disclosed elsewhere in the financial statements, the following significant transactions between the Group and the related parties took place at terms agreed between the parties during the financial year: (a) Transactions with subsidiaries Company 2020 2019 RM'000 RM'000 Dividend income from subsidiaries (Note 4) 35,750 46,263 Management fees from subsidiaries (Note 4) 20,529 25,934 Finance income on amounts due from subsidiaries (Note 7) 67,511 30,834 Management fees charged by a subsidiary (Note 9) (7,898) (6,398) Finance costs on amounts due to subsidiaries (Note 8) (36,152) (12,236) (b) Transactions with entities related to Tan Sri Dato' Tan Chee Sing (Major shareholder of the Company) 2020 2019 RM'000 RM'000 Group Rental income receivable/received 13,201 20,028 Security charges receivable/received 129 113 Utilities charges receivable/received 209 1,732 Acquisition of subsidiaries – (1,937,121) Transportation cost payable/paid (718) (851) Entertainment expenses payable/paid (12) (35) Car park charges payable/paid – (24) Gift expense payable/paid (893) (812) Marketing expenses payable/paid (1,107) (1,562) Company Acquisition of subsidiaries – (1,937,121) Transportation cost payable/paid (718) (851) Entertainment expenses payable/paid (12) (35) Gift expense payable/paid (840) (758) 37. SIGNIFICANT RELATED PARTY TRANSACTIONS (CONT'D.) In addition to the related party information disclosed elsewhere in the financial statements, the following significant transactions between the Group and the related parties took place at terms agreed between the parties during the financial year: (cont'd.) (c) Transactions with entities related to Tan Sri Dato' Tan Chee Yioun ("Tan Sri Vincent Tan"), who is the brother of Tan Sri Dato' Tan Chee Sing 2020 2019 RM'000 RM'000 Group Rental income receivable/received 298 17 Telephone charges payable/paid (2) (5) Insurance charges payable/paid (524) (474) Company Insurance charges payable/paid (45) (11) (d) Sale of development properties 2020 2019 RM'000 RM'000 Group Sales of development properties to certain directors of subsidiaries 12,973 934 The directors are of the opinion that all the above transactions were entered into in the normal course of business and have been established under terms that are no less favourable than those obtainable in transactions with unrelated parties. Information regarding outstanding balances arising from related party transactions as at 31 December 2020 and 31 December 2019 are disclosed in Note 23(b)(ii) and Note 33(b)(iii). NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 274 275