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Related Party Disclosures | 12 Months Ended
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Apr. 30, 2023
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Related Party Disclosures |
30. | RELATED PARTY DISCLOSURES
In addition to the transactions and balances disclosed elsewhere in the consolidated financial statements, the Group had the following significant related party transactions during the reporting period:
Relationship |  | Nature of transactions |  | 2021 |  |  | 2022 |  |  | 2023 |
|  |  |  | US$ |  |  | US$ |  |  | US$ |
Ultimate holding company |  | Digital solutions services—financial services rendered |  |  | 62 |  |  |  | 11 |  |  |  | 7 |
Ultimate holding company |  | Digital solutions services—non financial services rendered |  |  | 963 |  |  |  | 1,642 |  |  |  | 2,168 |
Ultimate holding company |  | Corporate expenses allocated |  |  | 803 |  |  |  | 910 |  |  |  | 1,212 |
Fellow subsidiaries |  | Digital solutions services—financial services rendered |  |  | 11 |  |  |  | 74 |  |  |  | 52 |
A related company |  | Digital solutions services—non financial services rendered |  |  | 645 |  |  |  | — |  |  |  | — |
Immediate holding company |  | Repurchase of shares of the Company |  |  | — |  |  |  | — |  |  |  | 318,882 |
Immediate holding company |  | Consideration for acquisition of AMTD Assets (note 14(a)) |  |  | — |  |  |  | — |  |  |  | 266,647 |
Ultimate holding company |  | Interest income (note 9) |  |  | — |  |  |  | — |  |  |  | 6,612 |
Compensation of key management personnel The directors of the Company were considered to be the key management personnel of the Company. The remuneration of the directors of the Company is set out in note 12. The remuneration of key management personnel is determined with regard to the performance of individuals and market trends. Centralized cash management and major non-cash transactions Treasury functions of the Group are conducted centrally under AMTD Group and inter-company fund transfers were carried out among the entities within AMTD Group. The treasury function manages available funds at AMTD Group level and allocates the funds to various entities within AMTD Group for their operations. In May and August 2019 and April 2021, certain entities within AMTD Group had entered into intercompany financing and offsetting agreements pursuant to which certain intercompany receivables and payables are to be netted-off for settlement purpose. These constituted material non-cash transactions. During the year ended April 30, 2021, amount due from AMTD Group, amount due to AMTD Group, amounts due from fellow subsidiaries and amounts due to fellow subsidiaries, which amounted to US$73,616, US$45,469, US$212,394 and US$239,206, respectively, were transferred or netted-off under these agreements. During the year ended April 30, 2023, the Group repurchased 616,346 Class B ordinary shares from its immediate holding company amounting to US$318,882. The consideration was settled through the current accounts with AMTD Group. As at April 30, 2022, the amount due from AMTD Group was unsecured, interest free and repayable on demand. As at April 30, 2023, the amount due from AMTD Group was unsecured, bearing interest of 2% per annum and repayable on demand. As at April 30, 2023, the amount due from a non-controlling shareholder is unsecured, interest-free and repayable on demand. As at April 30, 2023, the amount due to a non-controlling shareholder comprised of (i) interest bearing balance of US$7,643 at a variable rate of 2 times of HIBOR plus 1.15% per annum, (ii) interest bearing balance of US$25,479 at a variable rate of HIBOR plus 1.15% per annum and (iii) non-interest bearing balance of US$20,681. The amount due to a non-controlling shareholder was unsecured, US$33,122 of which is repayable within one year and the remaining balances of which are repayable on demand as at April 30, 2023. Details of impairment assessment of amounts due from AMTD Group and a non-controlling shareholder are set out in note 29(b).

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