101
FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
(cont’d)
19. TRADERECEIVABLES, OTHERRECEIVABLES, DEPOSITSANDPREPAIDEXPENSES (CONT’D)
Other receivables, deposits and prepaid expenses consist of:
The Group
The Company
2014
2013
2014
2013
RM
RM
RM
RM
Other receivables
3,350,833
3,802,610
38,602
2,353
Allowance for impairment losses
(1,006,445)
(1,006,445)
–
–
2,344,388
2,796,165
38,602
2,353
Deposits
1,806,628
1,212,907
4,830
3,720
Prepayments
1,133,148
1,261,016
20,864
17,498
5,284,164
5,270,088
64,296
23,571
Included in prepayments are employee benefits as detailed below:
The Group
2014
2013
RM
RM
Fair value of plan assets
–
3,947,697
Present value of plan obligations
–
(3,381,916)
–
565,781
The Group contributes to a defined benefit plan that provides retirement benefits for employees upon retirement
based on the following:-
a)
2 months average salary for each year for the first 15 years of working; and
b)
1 month average salary for each year subsequent to 15 years of working.
A maximum entitlement for a retired employee is 45 months average salary. The average salary of a retired
employee is calculated based on the average 6 months’ salary prior to his retirement date.
Plan assets comprise:
The Group
2014
2013
RM
RM
Cash at bank
792,434
902,444
Short-term investments
105,265
161,856
Debentures
485,482
369,899
Fixed income investments
618,115
714,928
Equity securities
2,040,455
1,767,384
Others
168,845
31,186
4,210,596
3,947,697
