KENANGA ANNUAL REPORT 2020

236 5 1 2 3 4 6 7 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 36. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D.) Group Bank 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 Transactions (cont’d.) Balances (cont’d.): Interest payable on deposits: - Subsidiaries - - 144 106 - Related company 218 151 218 151 - Other related party - 17 - 17 Deposit for Index trading - Subsidiaries - - 5,314 548 Deposit for rental of premises - Other related party 243 243 243 243 Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions, or if one other party controls both. The related parties of the Bank are: (i) Subsidiaries Details of the subsidiaries are shown in Note 13. (ii) Associates Details of the associates are as disclosed in Note 14. (iii) Joint Venture Details of the joint venture are disclosed in Note 15. (iv) Other related parties Name Relationship CMS Capital Sdn Bhd Substantial shareholder of the Bank Cahya Mata Sarawak Berhad Holding company of a substantial shareholder of the Bank Satria Realty Sdn Bhd Common director The Directors are of the opinion that the above transactions were entered into in the normal course of business and have been established under terms that are no less favourable than those obtainable in transactions with unrelated parties.