30. SIGNIFICANT RELATED PARTY TRANSACTIONS (CONTINUED) (b) An entity is related to the Group and the Company if any of the following conditions applies: (Continued) (v) The entity is a post-employment benefit plan for the benefit of employees of either the Company or an entity related to the Company. If the Company is itself such a plan, the sponsoring employers are also related to the Company. (vi) The entity is controlled or jointly controlled by a person identified in (a). (vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity). (viii) The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity. For the purposes of these financial statements, parties are considered to be related to the Group and the Company if the Group and the Company have 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 Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. In addition to the related party information disclosed elsewhere in the financial statements, the Group and the Company entered into the following transactions with their related parties during the financial year at rates and terms between the parties: Group 2025 2024 $’000 $’000 Joint ventures Contract revenue from joint ventures 80 477 Interest charged to joint ventures – 79 Advance to joint ventures 415 50 Associates Advance to an associate – 2,868 Payment made on behalf of associates 4 9 Subcontract services by associates 422 410 Management fee charged to associates 331 300 Interest charge to associates 6,029 6,198 Rental charged to associates 1,656 1,179 As at end of reporting period, the outstanding balances in respect of the above related party transactions are disclosed in Note 13, 14 and 17 to the financial statements. Group and Company 2025 2024 $’000 $’000 Loan from ultimate shareholders Interest expense – LJHB Capital (S) Pte Ltd 520 520 – Leo Ting Ping, Ronald 308 309 ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 115 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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