NOTE－13
RELATED PARTY TRANSACTIONS
In
the ordinary course of business, during the six months ended June 30, 2026 and 2025, the Company was involved in certain transactions,
either at cost or current market prices and on the normal commercial terms with related parties. The following table provides the transactions
with these parties for the financial years as presented (for the portion of such period that they were considered related):
SCHEDULE
OF TRANSACTIONS WITH RELATED PARTIES
| | |
2026 | | |
2025 | |
| Nature of transactions | |
Six Months ended June 30, | |
| | |
2026 | | |
2025 | |
| | |
$’000 | | |
$’000 | |
| | |
| | |
| |
| Sale of products | |
| | | |
| | |
| - Spare-Parts Zone (Australia) Pty Ltd(2) | |
| 311 | | |
| 400 | |
| - Branded Filters Pty Ltd(2) | |
| 181 | | |
| 301 | |
| - Jurong Barrels & Drums Industries Pte. Ltd.(1) | |
| 5 | | |
| - | |
| - Auto Saver Pte. Ltd.(3) | |
| 95 | | |
| 130 | |
| - PT Heavy Machindo Diesel(2) | |
| 622 | | |
| 296 | |
| - Oceania Power & Solutions Pty Ltd(2) | |
| 477 | | |
| 12 | |
| - Soon Aik Global Pte. Ltd.(3) | |
| - | | |
| 1 | |
| Sale
of products | |
| | | |
| | |
| Sundry income | |
| | | |
| | |
| - Soon Aik Global Pte. Ltd.(3) | |
| 1 | | |
| - | |
| - EU Group Pte. Ltd.(1) | |
| 2 | | |
| - | |
| - Oceania Power & Solutions Pty Ltd(2) | |
| - | | |
| 12 | |
| - PT Heavy Machindo Diesel(2) | |
| - | | |
| 2 | |
| | |
| | | |
| | |
| Purchases | |
| | | |
| | |
| - Branded Filters Pty Ltd(2) | |
| - | | |
| 147 | |
| - PT Heavy Machindo Diesel(2) | |
| 383 | | |
| 643 | |
| - Oceania Power & Solutions Pty Ltd(2) | |
| 533 | | |
| 12 | |
| - Auto Saver Pte. Ltd.(3) | |
| 1 | | |
| 1 | |
| Purchases | |
| | | |
| | |
| Expenses | |
| | | |
| | |
| - EU Group Pte. Ltd.(1) | |
| 338 | | |
| 275 | |
| - Branded Filters Pty Ltd(2) | |
| - * | | |
| - * | |
| - Soon Aik Global Pte. Ltd.(3) | |
| 192 | | |
| 89 | |
| - Auto Saver Pte. Ltd.(3) | |
| 109 | | |
| 124 | |
| - N-United Pte Ltd(2) | |
| 30 | | |
| 18 | |
| - Fleetzone Autoparts (M) Sdn. Bhd.(3) | |
| 29 | | |
| 14 | |
| -Expenses | |
| 29 | | |
| 28 | |
| |
* |
These
are related to the figures which are immaterial. |
The
related parties are controlled by the common directors of the Company as follows:
| |
(1) |
Jimmy
Neo owns a 50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels
& Drums Industries Pte. Ltd.. |
| |
(2) |
CE
Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”).
SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd. Branded Filters Pty Ltd, and an associated entity with
Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami
Corporation in Japan |
| |
(3) |
Soon
Aik, the parent entity of the Company and is also the parent entity of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd.. |
Apart
from the transactions and balances detailed elsewhere in these accompanying consolidated financial statements, the Company has no other
significant or material related party transactions during the financial years presented.
|