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ASIA MEDIA GROUP Berhad
Annual Report 2016
114
Notes to the Financial Statements
(continued)
22. Significant related party disclosures
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, or 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.
Related parties also include key management personnel defined as those persons having
authority and responsibility for planning, directing and controlling the activities of the Company
directly, or indirectly. The key management personnel include all the Directors of the Company,
and certain members of senior management of the Company.
The related party and its relationship with the Group are as follows:
Name of related party
Relationship
Peakmax Sdn. Bhd.
A company in which Dato’ Wong Shee Kai and Teh Sew Wan are
also Directors and shareholders.
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
2016
2015
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
2016
2015
2016
2015
RM
RM
RM
RM
Short-term employee benefits
(Note 19)
356,400
359,079
156,00
156,679