26) SIGNIFICANT RELATED PARTY TRANSACTIONS
For the purposes of these financial statements, parties are considered to be related to the
Company if the Company has the ability, directly or indirectly, to control the party or exercise
significant influence over the party in making financial and operating decisions, vice versa, or
where the Company and the party are subject to common control or common significant influence.
Related parties may be individuals or other entities.
Key management personnel are defined as those persons having authority and responsibility for
planning, directing and controlling the activities of the Group and of the Company either directly
or indirectly. The key management personnel include all the directors of the Group and of the
Company.
The remuneration of directors and other members of key management during the year is as
follows:
GROUP
COMPANY
2014
2013
2014
2013
RM
RM
RM
RM
Short-term employee benefits (Note 20) 364,400
364,400
162,000
162,000
27) CAPITAL COMMITMENT
GROUP
2014
2013
RM
RM
Capital expenditure in respect of purchase of property,
plant and equipment:
Approved and contracted for
– 1,004,000
28) CORPORATE PROPOSALS
On 20th January 2015, the Company had acquired two (2) ordinary shares of RM1.00 each,
representing 100% of the total issued and paid up share capital of DPO Plantations Sdn Bhd at
a purchase consideration of RM2.00.
DPO Plantations Sdn Bhd was incorporated in Malaysia under the Companies Act, 1965 on 24th
January 2005. The present authorised share capital of DPO Plantations Sdn Bhd is RM100,000
divided into 100,000 ordinary shares of RM1.00 each and the paid up share capital is RM2.00
divided into 2 ordinary shares of RM1.00 each.
Asia Media Group Berhad Annual Report 2014
117
NOTES TO THE FINANCIAL STATEMENTS
(Cont’d)
