Serba Dinamik Annual Report 2019

281 18. LOANS AND BORROWINGS (CONTINUED) 18.5 Finance lease liabilities Finance lease liabilities were payable as follows: Future Present value minimum Interest of minimum lease or lease payments profit payments Group RM’000 RM’000 RM’000 2018 Less than one year 4,573 629 3,944 Between one and two years 3,413 410 3,003 Between two and five years 4,557 267 4,290 More than five years 52 1 51 12,595 1,307 11,288 =========== =========== =========== 19. EMPLOYMENT BENEFITS - GROUP In accordance with Indonesian Labor Law No.13/2003, the Group provides post employment benefits to the eligible employees of an indirect subsidiary upon terminating their employment or upon attaining retirement age. The benefits payable are determined based on employees length of services and compensation at termination or retirement. The Group operates the post employment benefits plan for eligible employees of an indirect subsidiarywho are Indonesians with age above 20 years and continuous service of at least a year from date of hire. The benefits payable on retirement are based on length of service, input factor and base pay. The retirement age is 55 for employees of the subsidiary. The post employment benefit plan exposes the Group to actuarial risks such as longevity risk, financial risks such as change in discount rates and demographic risk such as turnover rate not being borne out. The following table shows a reconciliation from the opening balance to the closing balance for defined benefit liability and its components. RM’000 Balance at 1 January 2018 592 Included in profit or loss Current service cost 51 Balance at 31 December 2018/1 January 2019 643 Included in profit or loss Current service cost 48 Balance at 31 December 2019 691 N O T E S T O T H E F I N A N C I A L S TAT E M E N T S