Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 138 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 26. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D) (c) Defined benefit plan – Indonesia (Cont’d) Expenses recognised in profit or loss: The Group 2023 2022 RM RM Current service costs and interests 4,302 63,721 Gain on settlement (277,980) - (273,678) 63,721 Actuarial gains recognised directly in other comprehensive income: The Group 2023 2022 RM RM Actuarial gain recognised during the year - 50,925 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 2023 2022 i) Retirement age Not applicable 55 ii) Disability rate (per annum) Not applicable 1% of mortality rate iii) Discount rate (per annum) Not applicable 6.70% iv) Expected rate of salary increases (per annum) Not applicable 8.00% The Group 2023 2022 (Decrease)/ (Decrease)/ Increase Increase Effect on defined benefit obligations RM RM Discount rate (per annum) - strengthened by 1% - (12,598) - weakened by 1% - 14,155 Expected rate of salary increases (per annum) - strengthened by 1% - 17,391 - weakened by 1% - (15,428)
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