Transactions with key management personnel:
Key management personnel comprise the Group's directors and key management executive officers.
As at 31 December 2010 and 2009, none of the Group's directors and executive officers has outstanding personnel loans from the Group. In addition to their salaries, the Group also provides non-cash benefits to directors and executive officers and contributes to a post-employment defined plan on their behalf. The Group is required to contribute a specified percentage of payroll costs to the retirement benefit scheme to fund the benefits.
Total compensation provided to key management personnel is $11,395, $8,044 and $7,912 for the years ended 31 December 2010, 2009 and 2008, respectively.
The Company has agreements or protocols with several of its shareholders, consolidated subsidiaries and affiliates of the shareholders.
Other related party transactions
|Due from related parties – long term||31 December 2010||31 December 2009|
|Digital Platform Iletisim Hizmetleri AS ("Digital Platform")||-||15,306|
Receivables from T-Medya consists of receivables based on rent agreements, accrued interests for outstanding balance and unpaid building expenses. Due from related parties long term is shown net of allowance for doubtful debts amounting to $5,897 as at 31 December 2010 (31 December 2009: nil). The impairment loss recognized for the years ended 31 December 2010 is $5,897 (31 December 2009 and 2008: nil).
|Due from related parties – short term||31 December 2010||31 December 2009|
|System Capital Management ("SCM ")||38,202||63,311|
|KVK Teknoloji Urunleri AS ("KVK Teknoloji")||8,212||5,470|
|ADD Production Media AS . ("ADD")||1,796||-|
|Kyisvstar GSM JSC ("Kyivstar")||1,225||226|
Due from related parties short term is shown net of allowance for doubtful debts amounting to $2,998 as at 31 December 2010 (31 December 2009: nil). The impairment loss recognized for the years ended 31 December 2010 is $2,998 (31 December 2009 and 2008: nil).