KIM HENG OFFSHORE & MARINE HOLDINGS LIMITED
96
Notes to the financial statements
26 Related parties
For the purposes of these financial statements, parties are considered to be related to the Group if the Group
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 and the party are subject to
common control or common significant influence. Related parties may be individuals or other entities.
Key management personnel compensation
Key management personnel of the Group are those persons having the authority and responsibility for
planning, directing and controlling the activities of the Group. The directors are considered as key management
personnel of the Group.
The key management personnel compensation comprises:
Group
2015
2014
$’000
$’000
Short term employee benefits
2,923
3,641
Contributions to defined contribution plans
75
90
2,998
3,731
Other related party transactions
During the financial year, other than those transactions as disclosed elsewhere in the financial statements, there
were no related party transactions.
