CAHYA MATA SARAWAK ANNUAL REPORT 2016

www.cmsb .com.my Cahya Mata Sarawak Berhad 178 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 39. SIGNIFICANT RELATED PARTY TRANSACTIONS (CONT'D.) (a) Sale and purchase of goods and services (cont'd.) Group Company 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 Other related parties Sale of goods to: - Titanium Construction Sdn. Bhd. (i) (94) (465) - - - Vanadium Land Sdn. Bhd. (ii) - (791) - - - Laku Management Sdn. Bhd. (iii) (6,795) (5,304) - - - a director - (799) - - Contract revenue from Laku Management Sdn. Bhd. (iii) - (7,792) - - Payment of services to: - Impetus Alliance Advisors Sdn. Bhd. (iv) - 298 - - - Satria Realty Sdn. Bhd. (v) 2,134 1,978 575 1,686 (i) Dato Sri Mahmud Abu Bekir Taib is a director of Titanium Construction Sdn. Bhd. of which the Group supplied construction materials. He is a director and a major shareholder of the Company as well as a director in several subsidiaries of the Group. (ii) Datu Michael Ting Kuok Ngie, a director of the Company in previous year, is also a director of Vanadium Land Sdn. Bhd. of which the Group supplied construction materials. Vanadium Land Sdn. Bhd. ceased to be a related party to the Group upon retirement of Datu Michael Ting Kuok Ngie in April 2015. (iii) The Group was awarded a construction project and supplied goods to Laku Management Sdn. Bhd., a company in which Datu Hubert Thian Chong Hui is a director. (iv) Datuk Seri Yam Kong Choy is a director and a substantial shareholder of Impetus Alliance Advisors Sdn. Bhd. which provided advisory services to the Group. He is also a director of a subsidiary of the Group. (v) The Group had transacted with Satria Realty Sdn. Bhd., a company controlled by Majaharta Sdn. Bhd. (a major shareholder of the Company) which in turn is controlled by Dato Hanifah Hajar Taib and Jamilah Hamidah Taib who are major shareholders of the Company and persons connected to Dato Sri Haji Mahmud Abu Bekir Taib and Datuk Syed Ahmad Alwee Alsree, for the provision of office rental and office upkeep to the Group.