Page 149 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

16. Tax expense

The SC was granted approval from the Minister of Finance to be exempted from taxation with effect
from Year Assessment (YA) 2007 onwards.

17. Related parties

For the purpose of these financial statements, parties are considered to be related to the SC if the
SC has the ability, directly or indirectly, to control or jointly control the party or exercise significant
influence over the party in making financial and operating decisions, or vice versa, or where the SC and
the party are subject to common control. 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 SC either directly or indirectly.

The SC has related party relationship with Securities Industry Development Corporation (SIDC), as the
Chairman of the SC is also the Chairman of SIDC.

significant related party transaction

The significant related party transactions of the SC are shown below. The balances related to the below
transactions are shown in Note 6 and Note 11.

2018 2017
RM’000 RM’000
Related party
Management fee 502 502
Provision of grant (2,500) (2,500)

Key management personnel
Proceeds from disposal of motor vehicles 242 -

18. capital commitments
2018 2017
RM’000 RM’000
capital expenditure commitments
Plant and equipment
Approved but not contracted for:
Within one year 18,616 13,110

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