Annual Report 2019

173 Miramar Hotel and Investment Company, Limited Annual Report 2019 Notes to the Financial Statements 27 Material related party transactions In addition to the transactions and balances disclosed elsewhere in these financial statements, the Group entered into the following material related party transactions under the ordinary course of business and were carried out on normal commercial terms: 2019 2018 HK$’000 HK$’000 Property agency fee payable to a subsidiary of the Group’s major shareholder (note (a)) 1,546 3,000 Travel and ticketing income from subsidiaries and associates of the Group’s major shareholder (note (a)) (14,814) (15,313) Management fee income from a subsidiary of the Group’s major shareholder (note (b)) (804) (752) Hotel and catering service income from subsidiaries and associates of the Group’s major shareholder (note (c)) (2,296) (3,402) Rental and building management fee income from: – an entity controlled by a director for leasing of Office Units 1706– 1707 and certain units of 18th Floor (from 1 January to 31 October 2019 and 2018: whole of 18/F, from 1 November 2019 to 31 December 2019: units 1801–07 and 1812–18), Mira Place Tower A (30,655) (29,106) – a subsidiary of the Group’s major shareholder for leasing of Shops 501–03, 505–06 and Pillar Signage, Mira Place 1 (32,450) (32,109) Cash rental paid to: – an associate of the Group’s major shareholder for the leasing of Shop Nos. 3101–3107 and certain floor space of ifc Mall (note (d)) 17,579 17,070 – a subsidiary of the Group’s major shareholder for the leasing of a building located at No. 388 Jaffe Road, Wanchai, Hong Kong (note (e)) 15,200 16,754 Professional consultancy and management services income from an associate of the Group’s major shareholder (note (f)) (104) – All of the above related party transactions constitute connected transactions or continuing connected transactions as defined in Chapter 14A of the Listing Rules. The disclosures required by Chapter 14A of the Listing Rules are provided in paragraphs headed “Connected Transaction and Continuing Connected Transactions” in the Report of the Directors as set out in the Company’s annual report for the year ended 31 December 2019.