GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 161 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 28. EMPLOYEE BENEFITS OBLIGATIONS (cont’d) (g) The following table demonstrates the sensitivity analysis of the Group to a reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, with other assumptions being constant, would have affected the defined benefit obligation by the amounts shown below: Group 2019 2018 Increase Decrease Increase Decrease RM RM RM RM Discount rate (1% movement) 1,171,021 (1,654,463) 729,556 (1,014,643) Average salary (1% movement) 1,652,779 (1,168,412) 1,017,601 (725,343) Although the analysis does not account for the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown. 29. CONTRACT LIABILITIES Group Company 2019 2018 2019 2018 RM RM RM RM Deferred income 4,104,741 1,536,233 374,692 422,773 (a) Deferred income arose from sales of goods and services which are yet to be recognised as revenue due to unsatisfied performance obligation i.e. delivery and installation of goods and services at the end of the period and advance receipts from maintenance arrangements. (b) Movements of deferred income during the financial year are as follows: Group Company RM RM At 1 January 2018 833,005 833,005 Advance receipts during the financial year 4,587,036 2,736,276 Recognised in profit or loss (3,883,808) (3,146,508) At 31 December 2018 1,536,233 422,773 Advance receipts during the financial year 5,490,992 1,119,409 Recognised in profit or loss (2,434,772) (1,167,490) Offset with trade receivables (523,050) - Exchange differences 35,338 - At 31 December 2019 4,104,741 374,692