278 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 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. (a) Significant related party transactions In addition to the related party information disclosed elsewhere in the financial statements, the following significant transactions between the Group and related parties took place at terms agreed between the parties during the financial year: Group Company 2023 RM million 2022 RM million 2023 RM million 2022 RM million Related companies controlled by certain directors: - purchase of vehicles (1) - - - - service fee charges (1) - - - Associates: - loan (Note 24) (9) - - - Joint ventures: - dividend income 49 47 49 47 - management fee income - 13 - - - finance lease income - 2 - - - repayment of advances - 27 - - Subsidiaries: - advances received - - 46 20 - repayment of advances paid - - 10 - - management fee income - - 24 13 - interest income - - 2 3 - dividend income - - - 125 (b) Related party balances Related party balances have been disclosed in Notes 24 and 35 to the financial statements. (c) Compensation to 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. Key management personnel of the Group and of the Company are made up of Directors and senior management of the Group and the Company (2022: Directors).
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