Connecting the nation. and Beyond. - ChartNexus

43 RELATED PARTY DISCLOSURES (cont’d)
(b) Key management compensation
(including Executive Directors)
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Salaries and other short term employee benefits 6,153 5,840 4,087 3,695
Progress billings charged to the directors and
key management of the Group and the Company 947 – – –
Post employment benefits 882 949 534 602
Share based payments 22 318 22 250
At as 31 December 2011, there were no amount outstanding arising from the progress billings to the directors and key
management.
44 CONTINGENT LIABILITIES
Unsecured corporate guarantees given
to financial institutions for:
/ MRCB laporan tahunan 2011 / 243
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
- credit facilities granted to subsidiaries – – 45,000 45,000
- trade and performance guarantees
extended to third parties 308,096 334,494 257,202 283,612
Unsecured guaranteed return given
to a minority shareholder – – 115,000 115,000
Litigations arising from business transactions 97,376 100,136 – –
The unsecured guaranteed return is a contractual obligation made by the Company to a minority shareholder to guarantee
the minimum return to their investment in the KL Sentral development project which is payable by 31 December 2012 or
upon the completion of KL Sentral development project, whichever shall be the earlier. As at financial year end, the net
present value of this guaranteed sum accounted for in the Group is RM110,142,859 (2010: RM105,517,007) (Note 38).
The litigation arising from business transactions and share of liquidated ascertained damages of a jointly controlled entity
have not been provided for in the financial statements as the Board of Directors, based on legal advice, are of the opinion
that the above claims are not likely to succeed and thus would not have a material effect on the financial position of the
business of the Group and of the Company.