BIMB Integrated Annual Report 2017

43. RELATED PARTY TRANSACTIONS 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 or jointly control the party or exercise significant influence over the other 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. The Group and the Company has a related party relationship with its subsidiaries (see Note 14) and holding corporation of the Company. (a) The significant related party transactions of the Group and the Company which are not disclosed elsewhere, other than key management personnel compensation, are as follows: GROUP COMPANY TRANSACTIONS FOR TRANSACTIONS FOR 2017 2016 2017 2016 RM’000 RM’000 RM’000 RM’000 Holding Company Wakalah incentive fee 2,595 5,328 – – Brokerage income 1,611 1,404 – – Contribution income for General Takaful 371 33 – – Fees and commission 156 1 – – Office rental received 78 73 – – Gain/(Loss) on forex transaction – 62 – – Profit paid on Sukuk Liabilities 82,599 79,681 76,849 73,809 Rental of premises paid 23,947 22,942 – – Profit attributable on deposits placed 21,171 27,196 – – Claims paid for General Takaful 1,165 264 – – Other rental paid 415 412 – – Subsidiaries Income receivable on deposits placed – – 8,301 10,397 Takaful contribution refunded – – 18 – Office rental paid – – 1,001 985 Other expenses – – 182 20 Contribution paid for General Takaful – – 65 7 Claims receivable for General Takaful – – – 5 Other related companies Takaful contribution received 1,698 5,722 – – Income received from financing, advances and others 100 546 – – Fees and commission received 178 20 – – Net gain/(loss) on forex transactions – 407 – – Profit attributable on deposits placed 5,190 3,404 – – Office rental paid 446 437 – – Takaful claims paid 27 1,354 – – Takaful contribution refund – 411 – – NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 247 Overview Value Creation Accountability Financial Statements Sustainability Performance Data Shareholders Information 21 st AGM Information Management Discussion & Analysis t t