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enricHing national Progress ENRICHING SUSTAINABLE RETURNS

notes to tHe financial statements

for the year ended 31 december 2023

36. 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
2023 2022
RM’000 RM’000

interest income and profit on investments 1,737,271 1,674,681

purchase of malaysian government securities and bonds 9,370,875 8,628,714

sale of malaysian government securities and bonds 4,741,006 3,562,722

repayment of loans 531,653 1,966,598

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
2023 2022 2023 2022
RM’000 RM’000 RM’000 RM’000

board and investment panel
Wages, salaries, honorarium and remuneration 1,603 1,706 1,552 1,653
benefit in Kind 28 - 28 -
senior management
Wages, salaries, honorarium and remuneration 16,769 18,291 16,139 17,751
benefit in Kind 54 14 38 14
statutory contribution to the
employees provident fund 3,131 3,358 3,021 3,264
21,585 23,369 20,778 22,682

256 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INTEGRATED REPORT 2023