38. 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-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m Interest income from loans Subsidiaries – – 11.9 11.6 Directors 0.2 – 0.2 – Management fees Associates – 1.3 – 1.3 Income related to merchant activities Companies with common shareholders 20.0 6.9 20.0 6.9 Purchase of goods & services from Companies with common shareholders 14.8 17.4 14.8 17.4 Sales of goods & services from Companies with common shareholders 1,429.2 1,422.6 1,427.5 1,421.4 Financial charges Subsidiaries – – 3.8 3.8 Loans payable to Subsidiary – – 161.3 134.8 Loans and leases receivable from Companies with common shareholders 116.8 101.4 116.8 101.4 Subsidiaries – – – 54.1 Directors 3.2 – 3.2 – Amount owed to Companies with common shareholders 76.7 57.0 76.7 57.0 Right-of-use assets Companies with common shareholders 98.7 138.3 98.7 138.3 Lease liabilities Companies with common shareholders 136.3 175.1 136.3 175.1 Remuneration of key management personnel Short term employee benefit 164.8 144.8 158.6 129.4 Post employment benefit 8.3 8.3 8.0 7.4 173.1 153.1 166.6 136.8 The Company has given guarantees to related companies as per Note 35. The Company has recorded impairment of loans of MUR 64.3m (2023: MUR 220.5m) and intercompany receivables of MUR 11.5m (2023: MUR 4.7m) relating to amounts owed by related parties. The impairment assessments of these companies were based on ECL. Leases receivable from companies with common shareholders are unsecured facilities bearing interest from 4.25% to 10.25%, repayable on demand. The loans receivable from subsidiaries refers to an unsecured loan given to a subsidiary which is repayable to the Lender when the Borrower starts making profits, which is not expected to be realised in the next 12 months. The loan bears interest at a rate of 4% p.a. Amount owed to companies with common shareholders relate to normal trade creditors which is generally repayable within 3 months. The loan payable to subsidiary refers to a loan at call bearing variable interest at deposit rate less 0.2% (fees and charges). The loan is unsecured and repayable on demand. Settlement of amounts outstanding as at September 2024 and 2023 occurs in cash. 203 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial
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