ANNUAL REPORT 2014
81
NOTES TO THE
FINANCIAL STATEMENTS
17. Employee benefits
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Recognised liability for employee benefits
11,448
10,301
615
615
Under the terms of employment with its employees, the Group and the Company have to pay employee benefits
to eligible employees who have completed a qualifying period of service. Eligible employees are entitled to
employee benefits based on a certain percentage of total basic salary earned for the period of service less the
employers’ Employee Provident Funds contribution.
Movement in net defined benefit liability
The following table shows a reconciliation from the opening balance to the closing balance for net defined
benefit liability and its components.
Net defined benefit
liability
2014
2013
Group
RM’000
RM’000
Balance at 1 January
10,301
13,187
Included in profit or loss
Current service cost
1,084
779
Past service credit
-
279
Interest cost
457
512
Effect of movements in exchange rate
-
159
1,541
1,729
Included in other comprehensive income
Actuarial gain recognised in equity
-
(2,180)
Others
Benefits paid
(394)
(2,435)
Balance at 31 December
11,448
10,301
