46
MIGHT Directors’ Report And Audited Financial Statements 2020
21. SIGNIFICANT RELATED PARTY TRANSACTIONS (continued)
(a)
Identities of related parties (continued)
Related parties of the Group include: (continued)
(iv) Key management personnel who 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 include all the Directors of the Company, and certain members of the senior management of the Group.
In addition to the transactions and balances detailed elsewhere in the financial statements, the Group and the Company had the following transactions with related parties during the financial year.
(b)
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Project management income received from a subsidiary: - VentureTECH Sdn. Bhd.
-
-
6,712,882
-
Dividend income received from a subsidiary: - VentureTECH Sdn. Bhd.
-
-
1,000,000
1,000,000
(c)
Compensation of key management personnel
The remuneration of Directors and other key management personnel during the financial year was as follows:
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Directors of the subsidiaries
- -
- -
Fees Other emoluments
225,000 631,022
216,000 700,273
-
-
856,022
916,273
Total
Other key management personnel
3,912,007 704,229
3,432,772 569,142
Salaries Defined contribution plan Other emoluments
4,262,707 775,991 923
3,751,418 634,958 860
-
-
4,616,236
4,001,914
Total
5,039,621
4,387,236
Total compensation of key management personnel
4,001,914
4,616,236
5,895,643
5,303,509
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