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35. COMMITMENTS AND CONTINGENCIES
Group and Bank
2013
2012
RM’000
RM’000
Banking operation commitments
Contracted but not provided for:
Guarantee facility
368,025
160,179
Letter of credit
375,357
1,123
Undrawn loans and financing
2,770,460
2,081,150
3,513,842
2,242,452
Insurance operation commitments
Contracted but not provided for:
Within one year
415,743
1,422,414
One year or later and no later than five years
401,035
149,142
816,778
1,571,556
Operational commitments
Approved but not contracted for:
Within one year
15,400
18,266
Total commitments and contingencies
4,346,020
3,832,274
36. SIGNIFICANT RELATED PARTIES TRANSACTION AND BALANCES
For the purposes of these financial statements, parties are considered to be related to the Group, 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) Compensation of 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 of the Group and the Bank. The key management personnel compensation is disclosed
in Note 30.
EXIM Bank Annual Report 2013
155