Notes to the Financial Statements
(Cont’d)
For the financial year ended 30 April 2016
(In Singapore Dollar)
STAMFORD TYRES CORPORATION LIMITED
96 |
DRIVING IT UP
34.
Related party transactions
(a)
Sale and purchase of goods and services
In addition to those related party information disclosed elsewhere in the financial statements, the
following significant transactions between the Group and related parties took place during the year
at terms agreed between the parties:
Group
2016
2015
$’000
$’000
Income from services rendered to a joint venture company
587
335
Management fee paid to other shareholder of a joint venture company
(90)
(84)
Rental expenses paid to a company with common director
(174)
(68)
(b)
Compensation of key management personnel
Group
2016
2015
$’000
$’000
Salaries, bonus and other benefits-in-kind
2,490
3,112
Directors’ fees
377
377
Contribution to defined contribution plan
72
63
2,939
3,552
Comprises amounts paid/payable to:
- Directors of the Company
1,470
1,986
- Directors of subsidiary companies
370
355
- Other key management personnel
1,099
1,211
2,939
3,552
