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360 MSM MALAYSIA HOLDINGS BERHAD WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOW WE OPERATE
ANNUAL INTEGRATED REPORT 2021

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

35 SIGNIFICANT RELATED PARTY TRANSACTIONS
In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant
related party transactions and balances.
Federal Land Development Authority (“FELDA”), the Group and Company’s ultimate holding body effective from 24 December
2020, is a statutory body corporate set up under the Land Development Act 1956, and controlled by the Malaysian Government.
The Group considers that, for the purpose of MFRS 124 – “Related Party Disclosures”, FELDA and the Malaysian Government
is in the position to exercise significant influence over it. As a result, the Malaysian Government and Malaysian Government
controlled bodies (collectively referred to as “government-related entities”) are related parties of the Group and the Company.
Apart from the individually significant transactions as disclosed in the financial statements, the Group and the Company have
collectively, but not individually, significant transactions with other government-related entities which include but not limited
to the following:
• Deposit placing with and deposit taking from government-related entities

• Utilities services provided by the government-related entities
These transactions are conducted in the ordinary course of the Group’s business on terms consistently applied in
accordance with the Group’s internal policies and processes. These terms do not depend on whether the counterparties are
government-related entities or not.
Related parties and their relationship with the Group are as follows:
Related parties Relationship

Federal Land Development Authority (“FELDA”) Ultimate holding body
FGV Holdings Berhad (“FGVH”) Immediate holding company
Koperasi Permodalan FELDA Malaysia Berhad (“KPF”) Related company
Felda Holdings Berhad (“FHB”) Subsidiary of FGVH
FGV Capital Sdn Bhd (“FGVC”) Subsidiary of FGVH
MSM Perlis Sdn Bhd (“MSM Perlis”) Subsidiary of FGVH
FGV Integrated Farming Holdings Sdn Bhd (“FGVIF”) Subsidiary of FGVH
FGV R&D Sdn Bhd (“FGV R&D”) Subsidiary of FGVH
KPF Trading Sdn Bhd (Felda Trading Sdn Bhd) (“KPF Trading”) Subsidiary of KPF
KPF Niaga Sdn Bhd (“KPF Niaga”) Subsidiary of KPF
Felda D’Saji Sdn Bhd (“D’Saji”) Subsidiary of KPF
FGV Prodata Systems Sdn Bhd (“FPSB”) Subsidiary of FHB
FGV Security Services Sdn Bhd (“FSS”) Subsidiary of FHB
FGV Transport Sdn Bhd (“FGVT”) Subsidiary of FHB
Felda Travel Sdn Bhd (“Felda Travel”) Subsidiary of FHB
FGV Agri Services Sdn Bhd (“FASSB”) Subsidiary of FHB
Delima Oil Products Sdn Bhd (“D.O.P”) Subsidiary of FHB
FGV Kernel Products Sdn Bhd (“FKPSB”) Subsidiary of FHB
Felda Engineering Services Sdn Bhd (“Felda Engineering”) Subsidiary of FHB
MSM Sugar Refinery (Johor) Sdn Bhd (“MSM Johor”) Subsidiary company
MSM Logistics Sdn Bhd (“MSM Logistics”) Subsidiary company
MSM Prai Berhad (“MSM Prai”) Subsidiary company
MSM Trading & Distribution Sdn Bhd (“MSM Trading”) Subsidiary company
MSM Trading International DMCC (“MSM Trading International”) Subsidiary company