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AEMULUS HOLDINGS BERHAD
TA R G E T I N G T H E B U L L’ S E Y E
3. SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
3.21 Related Parties
A related party is a person or entity that is related to the Group. A related party transaction is a transfer of resources,
services or obligations between the Group and its related party, regardless of whether a price is charged.
(a)
A person or a close member of that person’s family is related to the Group if that person:
(i)
Has control or joint control over the Group;
(ii)
Has significant influence over the Group; or
(iii) Is a member of the key management personnel of the Group.
(b)
An entity is related to the Group if any of the following conditions applies:
(i)
The entity and the Group are members of the same group.
(ii)
The entity is an associate or joint venture of the other entity.
(iii) Both entities are joint ventures of the same third party.
(iv) The entity is a joint venture of a third entity and the other entity is an associate of the third entity.
(v)
The entity is a post-employment benefit plan for the benefits of employees of either the Group or an
entity related to the Group.
(vi) The entity is controlled or jointly-controlled by a person identified in (a) above.
(vii) A person identified in (a)(i) above has significant influence over the Group or is a member of the key
management personnel of the entity.
(viii) The entity, or any member of a group when it is a part, provides key management personnel services
to the Group.
NOTES TO THE FINANCIAL STATEMENTS
(Cont’d)
– 30 SEPTEMBER 2016