Page 177 - Exim iar24_Ebook

EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 175
NOTES TO THE FINANCIAL STATEMENTS

38. DIVIDENDS

The holders of redeemable convertible cumulative preference shares are entitled to receive dividends at a fixed rate of
4.7% per annum as and when declared by the Bank.

39. COMMITMENTS AND CONTINGENCIES

Group and Bank
2024 2023
RM’000 RM’000

Banking operation commitments
Contracted but not provided for:
Guarantee facility 129,700 117,459
Letter of credit - 286
Undrawn loans and financing 798,926 1,049,679
928,626 1,167,424

Operational commitments

Approved but not contracted for:
Within one year 17,275 10,944
Total commitments and contingencies 945,901 1,178,368

40. SIGNIFICANT RELATED PARTIES TRANSACTION AND BALANCES

For the purposes of these financial statements, parties are considered to be related to the Group and the Bank, if the Group
or the Bank has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making
financial and operating decisions, or vice versa, or where the Group or the Bank and the party are subject to common control
or common significant influence. Related parties may be individuals or other entities.
The Group has related party transactions and balances with the following parties:
(a) Key management personnel

Key management personnel is defined as those persons having authority and responsibility for planning, directing and
controlling the activities of the Group either directly or indirectly. The key management personnel consists of the President/
Chief Executive Officer and senior management of the Group and the Bank. The key management personnel compensation
is disclosed in Note 32.
(b) Subsidiaries

Bank
2024 2023
RM’000 RM’000
Amount due to subsidiaries 64,103 64,108