Frontken Berhad Annual Report 2019

113 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 28. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D) (b) Defined benefit plan – Philippines (Cont’d) Movement in the present value of defined benefit obligations:- The Group 2019 2018 RM RM At 1 January 201,538 240,191 Current service costs and interest 31,365 34,757 Actuarial gains in other comprehensive income (43,406) (65,268) Exchange difference 4,977 (8,142) At 31 December 194,474 201,538 Expenses recognised in profit or loss:- The Group 2019 2018 RM RM Current service costs and interests 31,365 34,757 Actuarial gains and losses recognised directly in other comprehensive income:- The Group 2019 2018 RM RM Actuarial gain recognised during the year 43,406 65,268 The Group defined benefit plan based on the actuarial valuation performed by an independent actuary adopting the Projected Unit Credit method, with the following principal actuarial assumptions:- The Group 2019 2018 i) Retirement age 60 60 ii) Discount rate (per annum) 5.16% 7.49% iii) Expected rate of salary increases (per annum) 2.00% 2.00% Notes To The Financial Statements (cont’d)