Ecowise Annual Report 2007 - ecoWise Holdings Limited

Notes to FinancialStatements31 October 20073. RELATED PARTY TRANSACTIONS (Cont’d)3.2 Other related parties: (Cont’d)Related party transactions:In addition to the transactions and balances disclosed elsewhere in the notes to the financial statements,this item includes the following:-GroupOther related parties2007 2006$’000 $’000Rendering of services (26) (1)Sales of goods (3) –Purchase of plant and equipment – 19Supply of labour – 55Disposal costs – 1Purchases of goods 6 1Rental expense 80 79Management fee 32 32Utilities – 18Transportation 16 –3.3 Key management compensation:Group2007 2006$’000 $’000Salaries and other short-term employee benefits 2,327 1,972Share-based compensation for directors 549 –The above amounts are included under employee benefits expense. Included in the above amounts arefollowing items:Group2007 2006$’000 $’000Remuneration of directors of the company 1,550 1,320Remuneration of directors of the subsidiaries 264 275Fees to directors of the company 80 80Fees to directors of the subsidiaries 15 15Share-based compensation for directors 549 –Key management personnel are directors and those persons having authority and responsibility forplanning, directing and controlling the activities of the company, directly or indirectly. The above amountsfor key management compensation are for all the directors and other key management personnel totalling3 persons.56 • ecoWise Holdings Limited • Annual Report 2007