| |
| |
Group |
|
Company |
| Details of material transactions and balances with related parties not disclosed
separately in the financial statements were as follows: |
Restated
31 March
2019
Rm |
|
Restated
31 March
2019
Rm |
| With shareholders: |
|
|
|
|
|
| Government of South Africa |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Finance lease receivable |
157 |
207 |
|
157 |
207 |
| Trade receivables |
796 |
1 370 |
|
542 |
1 098 |
| Impairment of trade receivables |
(152) |
(212) |
|
(30) |
(231) |
| Related party transactions |
|
|
|
|
|
| Revenue |
(4 568) |
(4 495) |
|
(3 250) |
(3 561) |
| With subsidiaries: |
|
|
|
|
|
| Business Connexion Proprietary Limited |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade receivables |
|
|
|
788 |
988 |
| Other receivables |
|
|
|
– |
– |
| Loans, preference shares and other facilities |
|
|
|
128 |
3 783 |
| Other financial liabilities |
|
|
|
(2 754) |
(2 757) |
| Trade and other payables |
|
|
|
(2 633) |
(2 802) |
| Related party transactions |
|
|
|
|
|
| Revenue and other income |
|
|
|
(5 296) |
(6 212) |
| Expenses |
|
|
|
2 203 |
1 902 |
| Interest received |
|
|
|
(462) |
(478) |
| Interest expense |
|
|
|
202 |
143 |
| Dividend received |
|
|
|
(1 095) |
– |
| Yellow Pages Proprietary Limited |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade receivables |
|
|
|
1 |
4 |
| Trade and other payables |
|
|
|
(185) |
(63) |
| Other payables |
|
|
|
– |
(186) |
| Related party transactions |
|
|
|
|
|
| Revenue |
|
|
|
(37) |
(53) |
| Dividend received |
|
|
|
(132) |
(58) |
| Interest paid |
|
|
|
7 |
7 |
| Swiftnet Proprietary Limited |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade receivables |
|
|
|
2 |
2 |
| Other receivables |
|
|
|
243 |
176 |
| Loans, preference shares and other facilities |
|
|
|
– |
1 069 |
| Trade and other payables |
|
|
|
229 |
(616) |
| Related party transactions |
|
|
|
|
|
| Revenue |
|
|
|
– |
(106) |
| Expenses |
|
|
|
610 |
310 |
| Dividend received |
|
|
|
(448) |
– |
| Interest received |
|
|
|
(142) |
(139) |
| Interest expense |
|
|
|
26 |
– |
| Rossal No 65 Proprietary Limited |
|
|
|
|
|
| Related party transactions |
|
|
|
|
|
| Expenses |
|
|
|
2 |
– |
| VS Gaming Proprietary Limited (formerly Acajou Investments Proprietary Limited) |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade and other payables |
|
|
|
92 |
(109) |
| Telkom Foundation |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade and other payables |
|
|
|
(20) |
(29) |
| Related party transactions |
|
|
|
|
|
| Expenses |
|
|
|
63 |
64 |
| Gyro Solutions Proprietary Limited |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade receivables |
|
|
|
23 |
– |
| Other receivables |
|
|
|
– |
198 |
| Loans, preference shares and other facilities |
|
|
|
– |
4 |
| Trade and other payables |
|
|
|
(172) |
(429) |
| Related party transactions |
|
|
|
|
|
| Revenue |
|
|
|
– |
(19) |
| Expenses |
|
|
|
76 |
105 |
| Other income |
|
|
|
(8) |
– |
| Interest received |
|
|
|
(1) |
(1) |
| Interest paid |
|
|
|
7 |
4 |
| Dividend received |
|
|
|
(161) |
– |
| Gyro Properties Proprietary Limited |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Loans, preference shares and other facilities |
|
|
|
– |
113 |
| Trade and other payables |
|
|
|
(117) |
(82) |
| Related party transactions |
|
|
|
|
|
| Expenses |
|
|
|
175 |
102 |
| Interest received |
|
|
|
(16) |
(15) |
| Interest paid |
|
|
|
8 |
– |
| Dividend received |
|
|
|
(83) |
– |
| With entities under common control: |
|
|
|
|
|
| Major public entities |
|
|
|
|
|
| Related party balances |
|
|
|
|
|
| Trade receivables |
58 |
45 |
|
32 |
14 |
| Impairment of trade receivables |
(5) |
(2) |
|
– |
– |
| Trade payables |
(1) |
(1) |
|
(1) |
(1) |
| Related party transactions |
|
|
|
|
|
| Revenue (excluding lease income) |
(291) |
(501) |
|
(62) |
(314) |
| Operating expenses (excluding lease expense) |
257 |
214 |
|
257 |
214 |
| Lease income |
(20) |
(27) |
|
(20) |
(27) |
| Lease expense |
36 |
30 |
|
36 |
30 |
| Key management personnel compensation: |
|
|
|
|
|
| (Including directors and prescribed officers’ remuneration) |
|
|
|
|
|
| Related party transactions |
|
|
|
|
|
| Short-term employee benefits |
190 |
272 |
|
150 |
204 |
| Post-employment benefits |
17 |
17 |
|
15 |
14 |
| Termination benefits |
23 |
13 |
|
19 |
5 |
| Equity compensation benefits |
62 |
22 |
|
66 |
20 |
At 31 March 2020, the Government of South Africa held 40.5% (31 March 2019: 40.5%) of Telkom’s shares, and had the ability to exercise significant
influence, and the Public Investment Corporation held 14.97% (31 March 2019: 11.9%) of Telkom’s shares.
Except as indicated above, outstanding balances at year end are unsecured, include interest and settlement occurs in cash. There have been no
guarantees provided or received for any related party receivables or payables. Except as indicated above, for the year ended 31 March 2020, the
Company has not made any impairment of amounts owed by related parties. This assessment is undertaken each financial year through examining
the financial position of the related party and the market in which the related party operates.
Terms and conditions of transactions with related parties
Except as indicated above, outstanding balances at 31 March 2020 are unsecured, include interest and settlement occurs in cash. There have been no
guarantees provided or received for any related party receivables or payables. Except as indicated above, for the year ended 31 March 2020, the Group
has not impaired any of the amounts owed by the related parties. This assessment is undertaken each financial period through examining the financial
position of the related party and the market in which the related party operates. |