Maxis Berhad
Annual Report 2015
page
174
Notes to the Financial Statements
31 December 2015
36 RELATED PARTIES (CONTINUED)
Group
Transaction value
Balance outstanding
Commitments
Total balance outstanding,
including commitments
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Purchases of goods and
services from:
(continued)
- UTSB Management Sdn. Bhd.
(5)
(corporate management services)
25,000
25,000
(2,083)
(6,625)
(18,750)
(43,750)
(20,833)
(50,375)
- SRG Asia Pacific Sdn. Bhd.
(6)
(call handling and telemarketing
services)
15,899
19,024
(934)
(2,708)
-
-
(934)
(2,708)
- UMTS (Malaysia) Sdn. Bhd.
(7)
(usage of 3G spectrum)
49,274
43,633
(3,975)
29,300
-
-
(3,975)
29,300
Notes:
The Group has entered into the above related party transactions with parties whose relationships are set out below.
Usaha Tegas Sdn. Bhd. (“UTSB”), STC and Harapan Nusantara Sdn. Bhd. are parties related to the Company, by virtue of having joint control over BGSM, pursuant to a shareholders’
agreement in relation to BGSM. BGSM is the ultimate holding company of the Company.
The ultimate holding company of UTSB is PanOcean Management Limited (“PanOcean”). PanOcean is the trustee of a discretionary trust, the beneficiaries of which are members of the
family of Ananda Krishnan Tatparanandam (“TAK”) and foundations including those for charitable purposes. Although PanOcean is deemed to have an interest in all of the Company shares
in which UTSB has an interest, it does not have any economic or beneficial interest over the Company shares, as such interest is held subject to the terms of the discretionary trust.
(1)
Subsidiary of a company which is an associate of UTSB
(2)
A major shareholder of BGSM, as described above
(3)
Subsidiary of a company in which TAK has a 99.999% direct equity interest
(4)
Subsidiary of BGSM
(5)
Subsidiary of UTSB
(6)
Subsidiary of a company whereby a person connected to TAK has a deemed equity interest
(7)
Subsidiary of the Company and associate of a company which is an associate of UTSB. The transaction values and outstanding balances are eliminated in the consolidated financial statements
Company
2015
RM’000
2014
RM’000
Amount charged by a subsidiary:
- management fees
11,619
10,981
Payment on behalf of operating expenses for subsidiaries
185
238
