34. PROVISIONS Group 2024 RM’000 2023 RM’000 Non-current: Provision for employee service entitlements (Note a) 5,705 4,132 Current: Provision for long term incentive plan (Note b) – – Total 5,705 4,132 (a) Provision for employee service entitlements Group 2024 RM’000 2023 RM’000 At 1 January 4,132 4,280 Acquisition of subsidiaries (Note 44(a)) 1,417 – Charged to the statement of comprehensive income (Note 8) 440 171 Exchange differences (284) (319) At 31 December 5,705 4,132 Provision for employee service entitlements comprises provisions for retirement leave entitlements in respect of eligible employees. The provisions are in respect of both vested and unvested entitlements, and are made by reference to independent actuarial valuations. The timing of such payments depends on when vesting occurs and the subsequent retirement date of the eligible employees. (b) Provision for long term incentive plan (“LTIP”) Group 2024 RM’000 2023 RM’000 At 1 January – 1,620 Reversal of provision (Note 7) – (1,620) At 31 December – – The Group under some of its subsidiaries grant the Shadow Share Option Scheme, i.e. LTIP, to eligible employees, as part of the remuneration package, whereby the employees will be entitled to future cash payments subject to meeting the pre-determined financial performance and value growth targets of the Group over a specific performance vesting period. In the previous financial year, the provision has been reversed as its realisation no longer probable. Notes to the Financial Statements For the year ended 31 December 2024 347 FINANCIAL STATEMENTS
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