WASCO BERHAD 274 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 37 SIGNIFICANT RELATED PARTY DISCLOSURES 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 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 or common significant influence. Related parties may be individuals or other entities. Key management personnel are defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions. The transactions described below were carried out on agreed terms. Group 2024 RM’000 2023 RM’000 Significant transactions with companies in which a Director of the Company, Dato’ Seri Robert Tan Chung Meng, has interest Rental of premises paid/payable 1,049 898 Facilities paid/payables 186 105 Significant transactions with an associate Lease rental income of equipment - 20,108 Company 2024 RM’000 2023 RM’000 Significant transactions with subsidiaries Dividend income: - Wasco Process Engineering Sdn. Bhd. 159,765 12,190 - Petro-Pipe Industrial Corporation Sdn. Bhd. 41,120 9,000 - Maple Sunpark Sdn. Bhd. 20,000 - Interest income: - Wasco Capital Sdn. Bhd. 1,808 688 Finance cost: - Maple Sunpark Sdn. Bhd. 820 15 - Wasco AgroTech Sdn. Bhd. 588 - - Petro-Pipe Industrial Corporation Sdn. Bhd. 293 953
RkJQdWJsaXNoZXIy NDgzMzc=