FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) ANNUAL REPORT 2024 113 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 26. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D) (b) De ned bene t plan – Philippines (Cont’d) Actuarial losses recognised directly in other comprehensive income: The Group 2024 2023 RM RM Actuarial loss recognised during the year (36,511) (21,208) The Group de ned bene t 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 2024 2023 RM RM i) Retirement age 60 60 ii) Discount rate (per annum) 6.15% 5.96% iii) Expected rate of salary increases (per annum) 3.00% 2.00% The Group 2024 2023 (Decrease)/ (Decrease)/ Increase Increase RM RM Effect on defined benefit obligations Discount rate (per annum) - strengthened by 1% (11,030) (8,538) - weakened by 1% 12,369 9,411 Expected rate of salary increases (per annum) - strengthened by 1% 12,640 9,695 - weakened by 1% (11,452) (8,937)
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