NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 CONT’D 27. 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 2023 2022 Increase Decrease Increase Decrease RM RM RM RM Discount rate (1% movement) (305,074) 370,681 (215,939) 262,104 Average salary (1% movement) 371,452 (310,917) 266,196 (222,514) 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. 28. CONTRACT LIABILITIES Group Company 2023 2022 2023 2022 RM RM RM RM Non-current liabilities Deferred income 700,393 14,047 - - Current liabilities Deferred income 5,196,945 5,135,829 315,527 513,719 5,897,338 5,149,876 315,527 513,719 (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 Balance as at 1 January 2022 5,001,202 575,819 Advance receipts during the financial year 16,924,865 1,565,104 Recognised in profit or loss (16,730,500) (1,627,204) Exchange differences (45,691) - Balance as at 31 December 2022/1 January 2023 5,149,876 513,719 Advance receipts during the financial year 12,428,528 1,149,347 Recognised in profit or loss (11,826,749) (1,347,539) Exchange differences 145,683 - Balance as at 31 December 2023 5,897,338 315,527 154 GHL SYSTEMS BERHAD 199401007361 (293040-D)
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