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 2021 2020 RM’000 RM’000 Group Rental income receivable/received 808 298 Telephone charges payable/paid (3) (2) Insurance charges payable/paid (534) (524) Gift expense payable/paid (4) – Company Telephone charges payable/paid (1) – Insurance charges payable/paid (7) (45) Gift expense payable/paid (1) – (d) Sale of development properties 2021 2020 RM’000 RM’000 Group Sales of development properties to certain directors of subsidiaries – 12,973 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 2021 and 31 December 2020 are disclosed in Note 23(b)(ii) and Note 33(b)(iii). 37. SIGNIFICANT RELATED PARTY TRANSACTIONS (CONT’D.) (e) Compensation of key management personnel 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. The key management personnel includes all the directors of the Group and certain members of senior management of the Group. The remuneration of directors and other members of key management during the financial year were as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Salaries, bonus and other emoluments 37,155 33,135 10,416 9,993 Contributions to defined contribution plan 3,194 2,505 784 530 Fees 2,479 1,449 1,987 1,092 42,828 37,089 13,187 11,615 Included in the total key management personnel are: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Directors’ remuneration (Note 11) 40,615 35,435 13,187 11,615 FINANCIAL STATEMENTS NOTES TO THE For the financial year ended 31 December 2021 Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 330 331
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