FORGING AHEAD - Tradewinds Plantation Berhad

210
FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2010
38. RELATED PARTY DISCLOSURES
(a) Identities of related parties
For the purpose of these financial statements, parties are considered to be related to the Group if the Group has the
ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial
and operating decisions, or vice versa, or where the Group and the party are subject to common control or common
significant influence. Related parties may be individuals or other entities.
Related parties of the Company include:
(i) Tradewinds (M) Berhad, the holding company;
(ii) Direct and indirect subsidiaries of the holding company;
(iii) Direct and indirect associates, jointly controlled entities and affiliates of the holding company; and
(iv) Key management personnel are defined as those persons having authority and responsibility for planning,
directing and controlling the activities of the Group either directly or indirectly. The key management personnel
includes all the Directors of the Company, and certain members of senior management of the Group.
The Group has related party relationships with the following parties:
(i) Retus Plantation Sdn. Bhd. (‘RPSB’)
RPSB is a 60% subsidiary of the holding company.
(ii) Agri-Sabah Fertilizer Sdn. Bhd. (‘ASFSB’)
ASFSB, in which PPB Oil Palms Berhad (‘PPBOPB’) has a 6.92% equity interest. PPBOPB is a wholly-owned
subsidiary of Wilmar International Limited (‘WIL’), a company in which PPB Group Berhad (‘PPB’) has an 18.3%
equity interest.
PPB was deemed as a major shareholder of the Company until 5 January 2010 by virtue of its direct and
indirect equity interests in FFM Berhad, Grenfell Holdings Sdn. Bhd., Hexarich Sdn. Bhd., Cathay Enterprises Sdn.
Bhd., Taloh Sdn. Bhd. and the holding company. With effect from 6 January 2010, PPB ceased to be a major
shareholder of the Company pursuant to the completion of the disposal by Grenfell Holdings Sdn. Bhd. of its 20%
equity instruments in the holding company to Felda Global Ventures Holdings Sdn. Bhd.
(iii) Bintulu Edible Oils Sdn. Bhd. (‘BEOSB’)
BEOSB is a wholly-owned subsidiary of PGEO Group Sdn. Bhd. (‘PGEOGSB’). PGEOGSB is a wholly-owned
subsidiary of WIL, a company in which PPB has 18.3% equity interest.
TRADEWINDS PLANTATION BERHAD
Annual Report 2010