Hatching For The Future - teo seng capital berhad

Teo Seng Capital Berhad
Notes To The Financial Statements
For The Financial Year Ended 31 March 2012
32. RELATED PARTY DISCLOSURES
(a)
Identities of related parties
The Group has related party relationships with the entities within the same group of companies.
(b)
In addition to the information detailed elsewhere in the financial statements, the Group and the Company carried
out the following significant transactions with the related parties during the financial year :
Group
Company
2012 2011 2012 2011
RM RM RM RM
Intermediate holding company
- IT service payable 9,278 9,278 - -
- Secretarial fee 7,680 6,720 - -
- Internal audit fee 102,888 - 102,888 -
Subsidiaries
- Dividend income received/receivable - - (8,322,500) (6,100,000)
- Interest income - - (45,029) (20,311)
- Interest expense - - 336,302 -
- Management fee - - (360,000) (360,000)
Other related companies
- Sale of goods (7,251,450) (18,336,179) - -
- Purchase of goods 7,228,677 5,817,545 - -
- Laboratory charges 60,707 49,848 - -
- Transport charges - 1,874 - -
- Upkeep of equipment 305 - - -
Related parties
- with companies where Lau Brothers #
are directors/shareholders
- Sale of goods (11,035,107) (5,059,457) - -
- Purchase of goods 11,010,174 11,594,852 - -
- Professional fee - 4,368 - -
- with company where spouse of
Mr. Nam Yok San is a director
- Transport charges 3,910,285 2,798,673 - -
- Purchase of property, plant and equipment - 18,000 - -
- with company where a director of a
subsidiary Mr. Tan Chau King is a director
- Sale of goods (240,317) - - -
- Transport charges received (11,257) - - -
Annual Report 2012
- with Mr. Nam Hiok Yong, director
of subsidiaries
- Proceeds from disposal of property, plant
and equipment (40,000) - - -
# Lau Brothers are Dato’ Lau Bong Wong, Lau Chia Nguang, Datuk Lau Chir Nguan, Dato’ Lau Eng Guang, Lau
Hai Nguan and Tan Sri Lau Tuang Nguang collectively.
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