32. Related party disclosures (cont’d)
(a) Sale and purchase of goods and services (cont’d)
Company
2015 2014
$’000 $’000
Subsidiaries
Interest income
6,661
7,393
Dividend income
5,500 10,000
Companies/firms related to directors:
One of the directors of the Company has deemed equity interest of 51.48% (2014:
51.59%) in Koon Holdings Limited. Koon Holdings Limited and its subsidiaries
(“Koon Group”) are in the business of providing infrastructure and civil engineering
services, specialising in reclamation and shore protection works. Transactions
entered by the Group with Koon include provision of ship chartering services, trade
sales income, trade expenses, rental income, hiring of equipment, supply of labour
and consultancy fees.
Please refer to Note 11 and Note 14 for outstanding balances due from/to related
parties at the end of the reporting period.
(b) Compensation of key management personnel
Group
2015 2014
$’000 $’000
Short-term employee benefits
3,504 4,039
Central Provident Fund contributions
110
105
Other long-term benefits
283
192
Total compensation paid to key management personnel
3,897 4,336
Comprise amounts paid to:
• Directors of the Group
2,159 2,254
• Other key management personnel
1,738 2,082
3,897 4,336
The remuneration of key management personnel is determined by the Committee
of the Company having regard to the performance of individuals and market trends.
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
147
