NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
38 RELATED PARTY DISCLOSURES
(a)
Sale and Purchase of Goods and Services
In addition to related party information disclosed elsewhere in the financial statements, significant transactions
with related parties on terms agreed between the parties are as follows:
Group
2014
2013
$’000
$’000
Associates/joint ventures
Sales of goods
18,325
18,787
Interest income
1,384
531
Receiving of services
7,737
–
Reversal of interest charged to a joint venture
268
–
Holding company
Receiving of services
100
50
Other related parties
Office leases
761
791
Receiving of services
–
200
Please refer to notes 20 and 34 for information on amounts due from/to subsidiaries, associates and joint ventures.
(b)
Key Management Personnel Compensation
The key management personnel compensation are as follows:
Group
2014
2013
$’000
$’000
Directors’ fees
828
678
Short-term employee benefits
2,124
4,872
Defined contribution plans
27
134
2,979
5,684
Comprise amounts paid to:
– Directors of the Company
2,251
2,913
– Other key management personnel
728
2,771
2,979
5,684
141
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
