| Related party transactions |
| 21. |
Related party transactions
|
In addition to the related party information disclosed elsewhere in the consolidated financial statements, the following transactions took place between the
Group and related parties during the financial year on commercial terms agreed by the parties:
|
|
2025
|
|
|
2024
|
|
|
|
US$’000
|
|
|
US$’000
|
|
|
Purchase
of services from related parties1
|
|
|
|
|
|
|
|
Support service fees to related parties
|
|
|
(7,553
|
)
|
|
|
(6,313
|
)
|
|
Rental expenses to a related party
|
|
|
(926
|
)
|
|
|
(893
|
)
|
|
|
|
|
|
|
|
|
|
|
Rendering
of services to related parties1
|
|
|
|
|
|
|
|
|
|
Management fee income from related parties
|
|
|
28
|
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
Other
transactions with related parties1
|
|
|
|
|
|
|
|
|
|
Service fee paid on behalf of/settled on behalf by related parties2
|
|
|
(76,283
|
)
|
|
|
(75,268
|
)
|
|
|
|
|
|
|
|
|
|
|
Transactions with joint ventures
|
|
|
|
|
|
|
|
|
|
Support service fees to a joint venture
|
|
|
(546
|
)
|
|
|
—
|
|
|
Management fee expense to a joint venture
|
|
|
(1,074
|
)
|
|
|
—
|
|
|
Management fee income from joint ventures2
|
|
|
5,180
|
|
|
|
1,045
|
|
|
Interest income from loans to joint ventures2
|
|
|
2,944
|
|
|
|
3,799
|
|
|
|
|
|
|
|
|
|
|
|
Other transactions with joint ventures
|
|
|
|
|
|
|
|
|
|
Service fee paid on behalf of/settled on behalf by joint ventures2
|
|
|
(7,204
|
)
|
|
|
(10,029
|
)
|
|
|
|
|
|
|
|
|
|
|
Pool arrangements
|
|
|
|
|
|
|
|
|
|
Revenue distributed to a joint venture
|
|
|
61,484
|
|
|
|
77,107
|
|
|
1
|
Related parties refer to subsidiaries of holding companies that have significant
influence in the Group.
|
|
2
|
Revisions were made to prior year
comparatives as the Group did not disclose related parties transactions in relation to service fee paid on behalf of/settle on behalf by related parties of US$75,268,000, management fee income from joint ventures of US$1,045,000, interest income from loans to joint ventures of US$3,799,000 and
service fee paid on behalf of/settled on behalf by joint ventures of US$10,029,000 in the financial statements
for the year ended 31 December 2024. These revisions are determined to be immaterial by the Group.
|
Key management personnel compensation
|
|
|
2025
US$’000
|
|
|
2024
US$’000
|
|
|
Fixed
|
|
|
|
|
|
|
|
Salary (annual) including pension
|
|
|
1,346
|
|
|
|
1,320
|
|
|
Variable
|
|
|
|
|
|
|
|
|
|
Cash bonus
|
|
|
2,474
|
|
|
|
2,455
|
|
|
Share-based compensation
|
|
|
1,408
|
|
|
|
1,281
|
|
|
Director’s fees
|
|
|
532
|
|
|
|
433
|
|
Key management personnel are
defined as the Group’s Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”) and board of directors.
For LTIP 2025, the CEO has received 770,533
options (2024: 617,581). The CFO has received 193,475 options (2024: 134,479). The CEO and CFO do not receive pension as part of the
remuneration package. This is considered to be included in the fixed salary. Non-monetary benefits can include standard employment benefits such as newspaper, telephone, laptop and internet access.
|