NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 CONT’D 26. TRADE AND OTHER PAYABLES (Cont’d) (g) The following table demonstrates the sensitivity analysis of the Group and of the Company to a reasonably possible change in the PHP, THB, AUD, IDR, USD and SGD exchange rates against the respective functional currencies of the Group entities, with all other variables held constant: Group Company 2023 2022 2023 2022 RM RM RM RM Profit after taxation/Retained earnings/ (Accumulated losses) PHP/RM - strengthen by 10% (2022: 10%) (1,139,634) (350,280) - - PHP/RM - weaken by 10% (2022: 10%) 1,139,634 350,280 - - THB/RM - strengthen by 10% (2022: 10%) (273,754) (537,539) - - THB/RM - weaken by 10% (2022: 10%) 273,754 537,539 - - AUD/RM - strengthen by 10% (2022: 10%) (7,328) (5,033) - - AUD/RM - weaken by 10% (2022: 10%) 7,328 5,033 - - IDR/RM - strengthen by 10% (2022: 10%) (33,216) (44,398) - - IDR/RM - weaken by 10% (2022: 10%) 33,216 44,398 - - USD/RM - strengthen by 10% (2022: 10%) (1,504,855) (614,768) (262) (1,368) USD/RM - weaken by 10% (2022: 10%) 1,504,855 614,768 262 1,368 SGD/RM - strengthen by 10% (2022: 10%) (1,990) (600) - - SGD/RM - weaken by 10% (2022: 10%) 1,990 600 - - 27. EMPLOYEE BENEFITS OBLIGATIONS Group 2023 2022 RM RM Present value of unfunded obligations, representing recognised liability for defined benefit obligations 2,069,947 1,412,239 (a) Liability for employee benefits obligations One of the group’s subsidiary recognised liability for defined benefit obligations based on actuarial valuation report dated 8 January 2024. The subsidiary operates a defined benefit plan that provides pension benefit for employees upon retirement based on Republic Act 7641. Under the plan, eligible employees are entitled to retirement benefit of one-half month salary for every year of service, a fraction of at least six (6) months is considered as one (1) whole year. The retirement benefit is payable to employees who are at least 60 years old with at least 6 years of services. 152 GHL SYSTEMS BERHAD 199401007361 (293040-D)
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