FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) ANNUAL REPORT 2024 109 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 26. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES Trade payables of the Group comprise amounts outstanding for trade purchases. The credit periods granted to the Group for trade purchases range from 30 to 90 days (2023: 30 to 90 days). Other payables and accrued expenses consist of: The Group The Company 2024 2023 2024 2023 RM RM RM RM Other payables 93,088,038 86,232,682 237,215 13,120 Accrued expenses 39,625,805 33,450,828 9,174,644 7,265,354 132,713,843 119,683,510 9,411,859 7,278,474 Less: Other payables (included under non-current liabilities) (172,698) (350,732) - - Current liabilities 132,541,145 119,332,778 9,411,859 7,278,474 Included in (other receivables)/other payables are de ned bene t plan as detailed below: The Group 2024 2023 RM RM De ned bene t plan (Overseas subsidiaries) - Taiwan (798,973) (869,194) - Philippines 172,698 350,732 (626,275) (518,462) (a) De ned bene t plan – Taiwan The Group 2024 2023 RM RM Fair value of plan assets (1,094,120) (883,759) Present value of plan obligations 295,147 14,565 (798,973) (869,194) The Group contributes to a de ned bene t plan that provides retirement bene ts for employees upon retirement based on the following: i) 2 months average salary for each year for the rst 15 years of working; and ii) 1 month average salary for each year subsequent to 15 years of working. A maximum entitlement for a retired employee is 45 months average salary. The average salary of a retired employee is calculated based on the average 6 months’ salary prior to his retirement date.
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