NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 SECTION 4: FINANCIAL PERFORMANCE 180 16. BORROWINGS (CONT’D) The interest rates on borrowings were as follows:- Group 2024 2023 % % Term loans 4.95 - 7.35 4.70 - 7.10 Bankers’ acceptance 5.16 - 5.26 5.14 - 5.31 Bank overdraft 7.35 - 8.49 7.35 - 8.49 Supplier finance arrangements 4.36 - 5.92 4.67 - 6.46 Revolving loan 6.47 6.32 - 6.90 17. EMPLOYEE BENEFITS Retirement benefits plan Group 2024 2023 RM’000 RM’000 Total present value of unfunded obligations, representing liability for defined benefit obligations 63 - Total employee benefits 63 - Analysed as:- - Non-current 63 - Defined benefit obligation Two of the Group’s subsidiaries, PT MST Golf Indonesia and PT MST Golf Distribution makes contributions to non-contributory defined benefit plans that provides pension for eligible employees upon retirement. Calculation of liability for post-employment benefits as of 31 December 2024 is based on calculation performed by Kantor Konsultan Aktuaria Hery Al Hariry dan Rekan, an independent actuary as per its reports dated 20 January 2025 (2023: Nil).
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