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Asia Media Group Berhad
►
Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
115
23. Significant related party disclosures (cont’d)
Related party transactions has been entered into the normal course of business under terms
agreed between the Group and the related parties. The significant related party transactions of
the Group are as follows:
Group
2015
2014
RM
RM
Rental of premises to subsidiary:
Asia Media Sdn. Bhd.
111,600
111,600
Compensation of Directors and key management personnel
The remuneration of Directors and key management personnel during the year are as follows:
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Short-term employee benefits
(Note 19)
359,079
364,400
156,679
162,000
24. Financial risk management objectives and policies
The Group and the Company are exposed to financial risks arising from their operations and
the use of financial instruments. The key financial risks include credit risk, liquidity risk, interest
rate risk and market price risk.
The Board of Directors reviews and agrees policies and procedures for the management of
these risks. The audit committee provides independent oversight to the effectiveness of the risk
management process.
It is, and has been throughout the current and previous financial year, the Group’s policy that
no derivatives shall be undertaken.
The following sections provide details regarding the Group’s and Company’s exposure to the
above-mentioned financial risks and the objectives, policies and processes for the management
of these risks.