Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 113 30. Significant related party transactions (a) Identity of related parties For the purposes of the 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 parties or exercise significant influence over the parties in making financial and operating decisions, or vice versa, or where the Group or the Company and the parties are subject to common control. Related party 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 or the Company either directly or indirectly and entity that provides key management personnel services to the Group. Key management personnel include all the Directors of the Group or the Company, and certain members of senior management of the Group or the Company. The Group has related party relationships with its significant investors, subsidiaries, associate and key management personnel. (b) Transactions with related parties Significant related party transactions, other than the compensation paid to key management personnel (see Note 27) and those disclosed elsewhere in the financial statements, are as follows: Group Company Financial period from 1.1.2020 to 30.6.2021 Financial year from 1.1.2019 to 31.12.2019 Financial period from 1.1.2020 to 30.6.2021 Financial year from 1.1.2019 to 31.12.2019 RM’000 RM’000 RM’000 RM’000 Transactions with related partiess Contractor charges 30 750 - - Professional service charges 24,220 5,264 - - Revenue from operation and maintenance (63) (16) - - Transactions with associates Revenue from engineering, procurement, construction and commissioning project (29,949) (6,192) - - Contract revenue (129,400) (139,231) - -