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Annual Report 2017

193

Notes to the

financial statements

31 march 2017

33. Employee benefits (cont’d.)

(b) RSGS

The following table illustrates the movements of shares vested under the RSGS during the financial year:

Movement of shares under the RSGS during the financial year

Group

2017

2016

No.

No.

Outstanding at 1 April 2016/2015

-

-

Granted

190,000

188,000

Vested

(190,000)

(188,000)

Outstanding at 31 March

-

-

The vesting of the RSGS shares is conditional upon the satisfaction of the performance targets of the Group and all other

conditions as set out in the ESS Bye-Laws.

34. Related party disclosures

(a) Significant related party transactions

In addition to the transactions detailed elsewhere in the financial statements, the Group and the Company had the

following transactions with related parties during the financial year.

(Income)/expense

2017

2016

RM’000

RM’000

Group

(a)

Transaction with companies connected to directors and substantial shareholders:

- Rental charges

(78)

(78)

- Purchase of products

(6,029)

(5,003)

- Service renderred

314

457

Company

(a)

Transaction with corporate shareholder:

- Advisory services

120

120

(b)

Transaction with subsidiaries:

- Dividend income from subsidiaries

(52,317)

(52,889)

- Management fees from subsidiaries

(1,069)

(696)

- Interest charged to subsidiaries

(9,482)

(7,328)

- Interest charged by a subsidiary

189

-

- Rental charges

761

761

- Sales of fish

18,119

25,242