33. DEFINED BENEFIT PENSION PLAN (CONTD.) Actual return on plan assets: Group 2022 RM’000 2021 RM’000 Actual return of plan assets, representing actuarial gain recognised in the other comprehensive income (19) (11) A quantitative sensitivity analysis for significant assumptions as at 31 December 2022 and 2021 are as shown below: Increase in one percentage Decrease in one percentage Sensitivity Level 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Assumptions Discount rate (121) (174) 129 186 Salary increase 126 180 (119) (171) The sensitivity analysis above has been determined based on a method that extrapolates the impact on net defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. The average duration of the defined benefit obligation at the end of the reporting period is 10 years (2021: 11 years). 34. PROVISIONS Group 2022 RM’000 2021 RM’000 Non-current: Provision for employee service entitlements (Note a) 4,280 3,441 Current: Provision for long-term incentive plan (Note b) 1,620 1,620 Total 5,900 5,061 34. PROVISIONS (CONTD.) (a) Provision for employee service entitlements Group 2022 RM’000 2021 RM’000 At 1 January 3,441 2,891 Charged to the statement of comprehensive income (Note 8) 653 621 Exchange differences 186 109 Payment – (180) At 31 December 4,280 3,441 Provision for employee service entitlements comprises provisions for retirement leave entitlements in respect of eligible employees. The provisions are in respect of both vested and unvested entitlements, and are made by reference to independent actuarial valuations. The timing of such payments depends on when vesting occurs and the subsequent retirement date of the eligible employees. (b) Provision for long-term incentive plan (“LTIP”) Group 2022 RM’000 2021 RM’000 At 1 January/31 December 1,620 1,620 The Group under some of its subsidiaries grant the Shadow Share Option Scheme, i.e. LTIP, to eligible employees, as part of the remuneration package, whereby the employees will be entitled to future cash payments subject to meeting the pre-determined financial performance and value growth targets of the Group over a specific performance vesting period. p.346 p.347 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 FINANCIAL STATEMENTS Notes to the financial statements For the year ended 31 December 2022 Notes to the financial statements For the year ended 31 December 2022
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