CFSL - Annual report 2018

EXPLANATORY NOTES 30 SEPTEMBER 2018 39. RELATED PARTY TRANSACTIONS (a) During the year the Group transacted with related parties. Transactions which are not dealt with elsewhere in the financial statements are as follows: GROUP COMPANY Sep-18 Sep-17 Sep-18 Sep-17 MUR m MUR m MUR m MUR m Sales of goods & services to Companies with common shareholders 44.3 3.6 - - Purchase of goods & services from Companies with common shareholders 18.00 0.5 0.1 - Dividend income, interest income and other income Subsidiaries - - 142.7 574.9 Associates - 1.7 - 1.7 Financial charges Subsidiaries - - 3.3 - Loans payable to Subsidiaries - - 107.0 - Loans and leases receivable from Companies with common shareholders 111.5 126.0 - - Subsidiaries - - 1,105.5 2,272.8 Amount owed by Companies with common shareholders 0.6 0.8 - - Subsidiaries - - 780.8 176.7 Amount owed to Companies with common shareholders - 1.1 - - Subsidiaries - - 23.8 84.3 Remuneration of key management personnel Short term employee benefit 121.7 174.9 6.8 7.1 Long term employee benefit 7.0 5.6 - - Post employment benefit 15.8 5.7 - - (b) The above transactions have been made on commercial terms and in the normal course of business. (c) Except for lease receivable where the facilities are effectively secured by the underlying assets, outstanding balances at the year end are unsecured with interest varying from 3.6% to 8.7% (2017: 4.3% to 8.5%) and settlement occurs in cash and/or through current account. The Group has not recorded any impairment of receivable relating to amounts owed by the related parties (2017: nil). There has been no guarantee provided or recorded for any related party receivable or payable. 132 CIM FINANCIAL SERVICES LTD ANNUAL REPORT 2018