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FoR BetteR RetuRns Annual Report 2022 253

notes to the
financial statements
for the year ended 31 december 2022

35. RELATED PARTY TRANSACTIONS (CONTINUED)
Between KWAP and the Government of Malaysia and entities related to the Government Of Malaysia

KWap is an agency under the ministry of finance that reports directly to the federal government of malaysia.

the significant transactions between KWap and the government of malaysia and other entities controlled by the
government are as follows:

KWAP
31 December 31 December
2022 2021
RM’000 RM’000
interest income and profit on investments 1,674,681 1,510,065

purchase of malaysian government securities and bonds 8,628,714 8,899,900

sale of malaysian government securities and bonds 3,562,722 3,729,825

repayment of loans 1,966,598 2,481,583

Key management personnel
Key management personnel are defined as the board and senior management of KWap whereby their remuneration
are included as part of the staff costs.

Group KWAP
31 December 31 December 31 December 31 December
2022 2021 2022 2021
RM’000 RM’000 RM’000 RM’000

board and investment panel
Wages, salaries, honorarium and remuneration 1,706 911 1,653 848
benefit in Kind - 5 - 5
senior management
Wages, salaries, honorarium and remuneration 18,291 13,225 17,751 12,986
benefit in Kind 14 7 14 6
statutory contribution to the employees
provident fund 3,358 2,498 3,264 2,456
23,369 16,646 22,682 16,301