Annual Report 2020

172 Notes to the Financial Statements Annual Report 2020 Miramar Hotel and Investment Company, Limited 26 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: 2020 2019 HK$’000 HK$’000 Property agency fee payable to a subsidiary of the Group’s major shareholder (note (a)) 3,000 1,546 Travel and ticketing income from subsidiaries and associates of the Group’s major shareholder (note (a)) (463) (14,814) Management fee income from a subsidiary of the Group’s major shareholder (note (b)) (747) (804) Hotel and catering service income from subsidiaries and associates of the Group’s major shareholder (note (c)) (1,804) (2,296) 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: whole of 18/F, and from 1 November 2019 to 31 December 2020: units 1801–07 and 1812–18), Mira Place Tower A (25,252) (30,655) – a subsidiary of the Group’s major shareholder for leasing of Shops 312, 501–03, 505–06 and Pillar Signage and for short term leasing for periods in between 24 July 2020 to 14 December 2020 of unit 2108 and Roadshow unit TM547, Mira Place 1 (34,789) (32,450) 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)) 17,632 17,579 – 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)) 7,034 15,200 Professional consultancy and management services income from an associate of the Group’s major shareholder (note (f)) (246) (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 “Continuing Connected Transactions” in the Report of the Directors as set out in the Company’s annual report for the year ended 31 December 2020.