Positioning for the Future | 215
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
37 SIGNIFICANT RELATED PARTY TRANSACTIONS
For the purposes of these mnancial statements, parties are considered to be related to the Group if the Group has
the direct and indirect ability to control the party, jointly control or exercise signimcant innuence over the party in
making mnancial and operating decisions, or vice versa, or where the Group and the party are subject to common
control or common signimcant innuence. Related parties may be individuals or other entities.
The Group considers the directors of the Company, and Executive Management Council comprising the President
& Group CEO, key management ofmcers of the corporate ofmce and CEOs of the strategic business units, to be
key management personnel in accordance with FRS 24 Related Party Disclosures.
In addition to the related party information disclosed elsewhere in the mnancial statements, there were signimcant
related party transactions which were carried out in the normal course of business on terms agreed between the
parties as follows
The Group
The Company
2014
$’000
2013
$’000
2014
$’000
2013
$’000
Restated
Restated
Related Corporations
Project management fee income
1,980
2,246
–
–
Subsidiaries
Management fee income
–
–
72,535
65,530
IT and administrative support services
–
–
17,049
17,324
Rental expense
–
–
(7,099)
(4,040)
Others
–
–
(852)
707
Associates and Joint Ventures
Management fee income
279,706
244,029
–
–
Construction and project management income
47,342
49,177
–
–
Rental expense
(3,894)
(2,912)
(51)
(51)
Proceeds from sale of an investment
–
226,707
–
–
Consideration for acquisitions of investments
109,321
119,671
–
–
Accounting service fee, acquisition fee,
divestment fee, marketing income and others
16,543
45,852
(43)
(326)
Key Management Personnel
Purchase of shares pursuant to voluntary
cash offer for a subsidiary
5,076
–
–
–
Subscription of shares in a subsidiary pursuant
to rights issues
–
191
–
–
Repurchase of bonds by the Company
–
558
–
558
Interest paid/payable by the Company and
its subsidiaries
89
96
29
36
Remuneration of Key Management
Personnel
Salary, bonus and other benemts
14,121
13,240
8,027
7,364
Employer’s contributions to demned
contribution plans
110
109
60
52
Equity compensation benemts
8,494
5,818
4,616
3,387
22,725
19,167
12,703
10,803
