105 www.excelforce.com.my Notes to the Financial Statements (cont’d) 33. Capital Commitment Group and Company 2024 2023 RM RM Authorised and contracted for: - Property, plant and equipment - 3,527,258 34. Related Party Disclosures (a) Identifying 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 or joint 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 included key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group and of the Company either directly or indirectly. The key management personnel comprise the Directors and management personnel of the Company, having authority and responsibility for planning, directing and controlling the activities of the Group and of the Company directly or indirectly. (b) Significant related party transactions Related party transactions have been entered into in the normal course of business under negotiated terms. In addition to the related party balances disclosed elsewhere in the financial statements, the significant related party transactions of the Group and of the Company are as follows: Group Company 1.7.2023 to 30.6.2024 1.1.2022 to 30.6.2023 1.7.2023 to 30.6.2024 1.1.2022 to 30.6.2023 RM RM RM RM Transactions with subsidiary companies Application services paid/payable - - 164,000 470,700 Dividend received - - - 570,000 Management fee income - - 22,200 122,400 Sales of computer and software - - - 15,219 Transactions with an associate Application services paid/payable 1,909,498 - 338,545 - Dividend income 88,000 - - - Transactions with a related party Application services rendered 15,100 14,800 - - Rental of office 363,075 544,612 90,769 544,612
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