Page 141 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
139
Annual Report 2013
F i nanc i a l Statement s
36. Related party transactions (continued)
(a) (continued)
The transactions conducted with government-related entities are based on terms agreed between the
parties.
In addition to the related party information and transactions disclosed elsewhere in the consolidated financial
statements, the following is a summary of significant related party transactions entered into the ordinary
course of business between the Group and its related parties during the financial year.
The Group
2013 2012
$’000 $’000
Revenue
Sales to fellow subsidiaries 47,182 42,922
Sales to associated companies 83 120
Sales to related parties 873 3
Rental income received/receivable from fellow subsidiaries 975 917
Rental income received/receivable from associated companies 16 19
Rental income received/receivable from related parties 75 164
Service income received from ultimate holding corporation 101 67
Service income received from fellow subsidiaries 3,101 3,804
Service income receivable from associated companies 340 154
Interest received/receivable from a fellow subsidiary 13,708 30,928
Interest received/receivable from an associated company 33 –
Commission received/receivable from a fellow subsidiary – 283
Expenditure
Purchases from fellow subsidiaries 50,159 49,118
Purchases from associated companies 206 295
Purchases of plant and equipment from fellow subsidiaries – 4,114
Rental paid/payable to fellow subsidiaries 7,422 1,807
Rental paid/payable to a related party – 6,284
Vessel rental paid/payable to a fellow subsidiary 13,440 –
Crew wages paid/payable to fellow subsidiaries 8,007 7,991
Sub-contractor costs paid/payable to fellow subsidiaries 5,464 5,472
Sub-contractor costs paid/payable to associated companies 8,640 4,409
Sub-contractor costs paid/payable to a related party – 777
Utilities expenses paid/payable to a related party 503 2,335
Service expenses paid/payable to fellow subsidiaries 2,097 249
Service expenses paid/payable to an associated company – 546
Service expenses paid/payable to related parties 83 83
Insurance premium paid/payble to a fellow subsidiary 248 –
Interest paid/payable to a fellow subsidiary 1,330 712
Commitments
Operating lease commitments with fellow subsidiaries where the
Group is a lessor 36 49
Operating lease commitments with an associated company where the
Group is a lessor 17 –
Operating lease commitments with a related party where the
Group is a lessee – 517