Annual Report 2012 - ecoWise Holdings Limited

84ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS3. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS (CONTINUED)3A. Related PartiesThere are transactions and arrangements between the Group and related parties and the effects of these onthe basis determined between the parties are reflected in these financial statements. The sales with relatedparties are based on the price lists in force with non-related parties. The current related party balances areunsecured without fixed repayment terms and interest, unless stated otherwise. For non-current balances,if significant, an interest is imputed, unless stated otherwise, based on the prevailing market interest rate forsimilar debt less the interest rate, if any, provided in the agreement for the balance. For financial guarantees,an amount is imputed and is recognised accordingly if significant where no charge is payable.Intragroup transactions and balances that have been eliminated in these consolidated financial statementsare not disclosed as related party transactions and balances below.In addition to the transactions and balances disclosed elsewhere in the notes to the financial statements,significant related party transactions include the following:Group2012 2011$’000 $’000Non-Controlling Interests in SubsidiariesSale of goods (6,031) (6,472)Service income – (7)Rental income – (65)Sale of property, plant and equipment – (28)Purchase of goods 3,799 3,568Purchase of services 311 242Operating lease expenses 363 516Purchase of property, plant and equipment 3,674 16AssociatesService income – (73)Management fee income (1,570) (1,359)Purchase of services 1,223 1,429