157 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 28. EMPLOYEE BENEFITS OBLIGATIONS (Cont’d) (d) The movements in the present value of employee benefit obligations are as follows: Group 2021 2020 RM RM Balance as at 1 January 2,233,582 1,395,720 Service costs (Current and Past) - 200,273 Interest - 79,058 Remeasurement recognition in Other Comprehensive Income (Note 9) - 521,325 Exchange differences - 37,206 Balance as at 31 December 2,233,582 2,233,582 (e) Expenses recognised in profit or loss are as follows: Group 2021 2020 RM RM Current service cost - 200,273 Interest on obligation - 79,058 Net benefit expenses - 279,331 (f) The principal actuarial assumptions at the end of the reporting period (expressed as weighted average) are as follows: Group 2021 2020 % % Discount rate 4.00 4.00 Average salary increase 5.00 5.00 (g) The following table demonstrates the sensitivity analysis of the Group to a reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, with other assumptions being constant, would have affected the defined benefit obligation by the amounts shown below: Group 2021 2020 Increase Decrease Increase Decrease RM RM RM RM Discount rate (1% movement) 1,903,938 (2,713,371) 1,903,938 (2,713,371) Average salary (1% movement) 2,705,225 (1,922,245) 2,705,225 (1,922,245) Although the analysis does not account for the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.
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