Frontken Corporation Berhad 200401012517 (651020-T) • A N N U A L R E P O R T 2 0 2 1 139 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 25. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D) (c) Defined benefit plan – Indonesia (Cont’d) Expenses recognised in profit or loss:- The Group 2021 2020 RM RM Current service costs and interests 83,941 80,341 Actuarial gains and losses recognised directly in other comprehensive income:- The Group 2021 2020 RM RM Actuarial gains recognised during the year 44,947 143 The Group defined benefit plan based on the actuarial valuation performed by an independent actuary adopting the Projected Unit Credit method, with the following principal actuarial assumptions:- The Group 2021 2020 RM RM i) Retirement age 55 55 ii) Disability rate (per annum) 1% of 1% of mortality rate mortality rate iii) Discount rate (per annum) 5.85% 5.95% iv) Expected rate of salary increases (per annum) 8.00% 8.00% The Group 2021 2020 (Decrease)/ (Decrease)/ Increase Increase Effect on defined benefit obligations RM RM Discount rate (per annum) - strengthened by 1% (16,381) (19,334) - weakened by 1% 18,406 21,734 Expected rate of salary increases (per annum) - strengthened by 1% 21,719 25,052 - weakened by 1% (19,522) (22,657)
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