144 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 CONT’D 28. EMPLOYEE BENEFITS OBLIGATIONS (Cont’d) (d) The movements in the present value of employee benefit obligations are as follows: Group 2022 2021 RM RM Balance as at 1 January 2,233,582 2,233,582 Service costs (Current and Past) 528,551 - Interest 191,872 - Remeasurement recognition in Other Comprehensive Income (Note 9) (1,433,757) - Exchange differences (108,009) - Balance as at 31 December 1,412,239 2,233,582 (e) Expenses recognised in profit or loss are as follows: Group 2022 2021 RM RM Current service cost 528,551 - Interest on obligation 191,872 - Net benefit expenses 720,423 - (f) The principal actuarial assumptions at the end of the reporting period (expressed as weighted average) are as follows: Group 2022 2021 % % Discount rate 7.50 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 2022 2021 Increase Decrease Increase Decrease RM RM RM RM Discount rate (1% movement) (215,939) 262,104 (356,979) 443,978 Average salary (1% movement) 266,196 (222,514) 435,917 (338,864) 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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