30. RELATED PARTIES For the purposes of these financial statements, parties are considered to be related to the Group or the Company if the Group or the Company has the ability, directly or indirectly, to control or jointly 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 of the Group refer to the Directors of the Group. The Group and the Company have related party relationships with its subsidiaries and key management personnel. Related party transactions have been entered in the normal course of business under negotiated terms. The significant related party transactions are shown below. Group Company 2024 2023 2024 2023 RM9000 RM9000 RM9000 RM9000 Subsidiaries Dividend income - - (1,764) (1,039) Interest income - - (581) (574) Interest expense - - 795 147 Key management personnel: Directors9 remuneration - Fees 404 322 404 322 - Other emoluments 963 844 - - 1,367 1,166 404 322 The estimated monetary value of Directors9 benefit-in-kind of the Group is RM38,000 (2023: RM59,100). 31. SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD On 10 December 2024, the Group and the Company had entered into a share acquisition agreement to acquire 1,680,000 ordinary shares representing 60% equity interest in Edu Paper And Stationery Sdn Bhd. from Eduprint Solutions Sdn Bhd for RM2,580,000, subject to the terms and conditions contained in the Agreement. ANNUAL REPORT 2024 HOLDINGS BERHAD Financial Statements (continued) 144
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