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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
24. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D)
(c) Defined benefit plan – Indonesia (Cont’d)
Movement in the present value of defined benefit obligations:
The Group
2016
2015
RM
RM
At 1 January
345,534
-
Current service costs and interest
114,687
375,329
Actuarial gains in other comprehensive income
(56,583)
(42,016)
Defined plan payable
(18,837)
-
Exchange difference
30,004
12,221
At 31 December
414,805
345,534
Expenses recognised in profit or loss:
The Group
2016
2015
RM
RM
Current service costs and interests
114,687
375,329
Actuarial gains and losses recognised directly in other comprehensive income:
The Group
2016
2015
RM
RM
Actuarial gains recognised during the year
56,583
42,016
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
2016
2015
i)
Retirement age
55
55
ii)
Disability rate (per annum)
1% of
1% of
mortality rate mortality rate
iii) Discount rate (per annum)
8.30%
9.10%
iv) Expected rate of salary increases (per annum)
10.00%
10.00%
Notes To The Financial Statements
(cont’d)