Annual Report 2009 - Greentown China Holdings Limited

Notes to the Consolidated Financial Statements
For The Year Ended 31 December 2009
39. RELATED PARTY DISCLOSURES
(i)
During the year, in addition to those disclosed in other notes to the consolidated financial statements, the
Group entered into the following transactions with related parties:
2009 2008
RMB’000 RMB’000
Sale of properties to Shareholders 65,770 13,160
Sale of properties to officers 54,960 233,100
Sale of properties to minority shareholders of subsidiaries 253,389 216,019
Sale of materials to associates and jointly controlled entities 1,694 7,260
Construction service income from associates 5,650 4,525
Construction service income from jointly controlled entities 1,098 1,427
Construction service income from Shareholders’ Companies – 2,037
Rental fees paid/payable to:
– Shareholders’ Companies 7,886 5,098
– minority shareholders 200 173
Purchases from Shareholders’ Companies (Note) 1,707 1,460
Interior decoration service fees paid/payable to
Shareholders’ Companies 791 21,304
Sales commission paid/payable to minority shareholders – 6,301
Property management fees paid/payable to Shareholders’ Companies 13,899 11,153
Interest income arising from amounts due from:
– associates 89,361 72,491
– jointly controlled entities 163,681 82,572
Interest expense arising from amounts due to:
– associates 3,982 90,620
– jointly controlled entities 17,669 77,138
– minority shareholders 3,199 69,809
Advertising expenses paid/payable to Shareholders’ Companies 40,000 40,000
Other service fees to Shareholders’ Companies 5,645 4,506
Brand usage fees from jointly controlled entities and associates 84,500 10,093
Hotel management fees paid/payable to Shareholders’ Companies 1,737 –
Hotel service income from jointly controlled entities – 148
Hotel service income from associates – 502
Hotel service income from Shareholders’ Companies 12 275
Note:
Purchases from Shareholders’ Companies represent raw materials purchased for use by construction
contractors, the costs of which are included in the overall construction contracts.
The directors considered that the transactions above were carried out in the Group’s normal course of
business and in accordance with the terms agreed with the counterparties.
Shareholders’ Companies represent companies owned by the Shareholders and affiliates.
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Greentown China Holdings Limited Annual Report 2009