EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 102 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CONT’D) 30. DIVIDENDS Group and Company 2020 2019 RM RM Dividends recognised as distribution to ordinary shareholders of the Company: In respect of the financial year ended 31 December 2019 - First interim single-tier dividend of 0.50 sen per ordinary share - 3,076,892 - Second interim single-tier dividend of 0.50 sen per ordinary share - 2,951,892 In respect of the financial year ended 31 December 2020 - First interim single-tier dividend of 0.50 sen per ordinary share 2,796,892 - - Second interim single-tier dividend of 0.50 sen per ordinary share 2,796,892 - 5,593,784 6,028,784 At the forthcoming Annual General Meeting, a final single-tier dividend of 0.50 sen per ordinary share in respect of the current financial year will be proposed for the approval of the shareholders. The financial statements for the current financial year do not reflect this proposed dividend. This dividend will be accounted for as an appropriation of retained profits in the period when it is approved by the shareholders. 31. STAFF COSTS Group Company 2020 2019 2020 2019 RM RM RM RM Fees 300,000 353,935 300,000 353,935 Salaries, wages and other emoluments 8,061,830 7,485,964 7,609,235 7,151,624 Defined contribution plans 977,286 928,968 920,419 886,504 Social security contributions 64,420 66,351 58,656 61,408 Other benefits 138,863 244,067 132,634 232,579 9,542,399 9,079,285 9,020,944 8,686,050