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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
24. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D)
Included in other payables are defined benefit plan as detailed below: (Cont’d)
(a) Defined benefit plan – Taiwan (Cont’d)
Expenses recognised in profit or loss:
The Group
2016
2015
RM
RM
Current service costs and interests
130,378
1,118,812
Expected return on plan assets
(91,644)
(88,677)
Net benefit expense
38,734
1,030,135
Actuarial gains and losses recognised directly in other comprehensive income:
The Group
2016
2015
RM
RM
Actuarial losses recognised during the year
(468,542)
(514,203)
The Group defined benefit plan based on the actuarial valuation performed by an independent actuary adopting
the Projected Unit Credit With Service Increment method, with the following principal actuarial assumptions:
The Group
2016
2015
i)
Retirement age
65
65
ii)
Disability rate (per annum)
10% of
10% of
mortality rate mortality rate
iii) Discount rate (per annum)
1.50%
1.75%
iv) Expected rate of salary increases (per annum)
3.00%
3.00%
Notes To The Financial Statements
(cont’d)