4
Details of recurrent related party transactions carried out / contemplated shall include, but not be limited
to, the following:
Parties
Nature of Transactions
Estimated aggregate
value as disclosed in
the Circular to
Shareholders dated
6 November 2014
(RM’000)
Actual value
transacted
since last
AGM till
9 October
2015
(RM’000)
Estimated
aggregate value
from 51
st
AGM
to the next AGM
(RM’000)
Diageo
Group
1. Purchase of manufacturing and
marketing materials from Diageo
Group
20,000
10,935
15,000
(Note 1)
2. Purchase of beverage products
from Diageo Group
5,000
542
4,500
(Note 1)
3. Royalties paid/payable to Diageo
Group for licence to brew Guinness
Foreign Extra Stout, Guinness
Draught, Kilkenny, Malta and
Anglia Shandy
20,000
11,251
15,000
(Note 1)
4. Sale of beverage products to
Diageo Group
20,000
22,868
(Note 2)
24,750
(Note 1)
Heineken
Group
1. Purchase of manufacturing and
marketing materials from Heineken
Group
20,100
13,474
30,000
2. Purchase of beverage products
from Heineken Group
6,000
2,407
6,000
3. Fees paid/payable to Heineken
Group for engineering and
technical services
1,500
550
1,500
4. Royalties paid/payable to Heineken
Group for licence to brew Heineken
Beer, Tiger Beer, Anchor Smooth
and Anchor Strong Beer
40,500
26,465
42,000
5. Sale of beverage products to
Heineken Group
8,000
-
6,000
6. Fees received/receivable from
Heineken Group for marketing and
advertising services
25,500
6,911
27,000
7. Fees payable to Heineken Group
for professional services which
include procurement services,
advisory support services and
other support services (Note 3)
-
-
3,000
Notes:
1. Diageo was deemed a Major Shareholder of the Company by virtue of its indirect shareholding in GAPL. On 7 October 2015, Diageo
sold its entire interests in GAPL to Heineken and accordingly ceased to be a related party to GAB Group. Pursuant to the Listing
Requirements, a related party shall include any person who is or was, within the preceding 6 months of the date on which the terms of
the transaction were agreed upon, a party related to the company or any other corporation which is the subsidiary or holding company
of such related party. The estimated aggregate value stated herein is for transactions to be entered into by the Group with the Diageo
Group up to 7 April 2016.
2. The reported transaction amount has exceeded the estimated aggregate value by 14%. This is due to the change of invoicing party
from a non-related party to a party related to Diageo Group for certain sales transactions since September 2014. In the past, GAB
invoiced the distributor who is a non-related party nominated by Diageo Group for certain transactions involving the sale of beverage
products. With the change of invoicing party, GAB now invoices Diageo Ireland directly for the same transactions. The aggregated
actual value of all the transactions involving the interests of Diageo Group did not exceed the aggregated estimated value as approved
under the previous shareholders’ mandate.
3. GAB is in the midst of negotiation of the regional procurement services with the Heineken Group. The estimated value of the
transactions
is based on management’s estimate of the value to be transacted during the validity period of the Proposed Shareholders’
Mandate. They actual value of this transaction may vary.
Save for the item reported under Note 2, none of the actual value of other recurrent related party
transactions as disclosed above has exceeded the estimated value by 10% or more.
As of the financial year ended 30 June 2015, there is no amount due and owing to the Company by its
related parties arising from the Recurrent Related Party Transactions that exceeded the credit term.
