AUDITED FINANCIAL STATEMENTS 2022 175 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 53 SIGNIFICANT RELATED PARTY TRANSACTIONS (CONTINUED) Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 (c) Transactions with Government-related entities Transactions between subsidiaries and other government agencies Cooking oil subsidy received from Malaysia Palm Oil Board (“MPOB”) and Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup 376,360 202,519 - - Cess payment to MPOB 46,395 42,240 - - (d) Key management compensation Key management personnel comprise of Directors and senior management with the rank of Vice President and above, having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. The aggregate amount of emoluments received/receivable by key management personnel of the Group and the Company during the financial year is as follows: Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Fees 2,070 1,659 1,930 1,630 Salaries and bonuses 34,995 32,018 21,080 20,856 Defined contribution and benefit plans 6,189 5,698 3,731 3,713 Other short-term employee benefits 6,721 6,185 3,798 3,545 49,975 45,560 30,539 29,744 (e) Loans due from subsidiaries Terms and conditions of the loans are disclosed in Note 33 to the financial statements. Company 2022 RM’000 2021 RM’000 At 1 January 216,830 368,886 Addition 864,573 446,539 Repayment (874,392) (598,595) At 31 December 207,011 216,830 (f) Issuance of letter of financial support letter The Company has confirmed its intention to provide continuing financial support to MSM Malaysia Holdings Berhad (“MSMH”), a direct listed subsidiary of the Company to enable MSMH and its subsidiaries to meet its liabilities as they fall due within the next twelve months from the date of the support letter, 24 March 2023.
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