NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 CONT’D 6. PROFIT BEFORE TAXATION (Cont’d) (a) Dividend income Dividend income is recognised when the right to receive payment is established. (b) Interest income Interest income is recognised as on a time proportion basis that reflects the effective yield on assets. 7. EMPLOYEE BENEFITS Group Company 2023 2022 2023 2022 RM RM RM RM Salaries, bonus and allowances 73,238,546 65,259,232 12,718,908 12,190,295 Defined contribution plan 6,937,332 6,309,287 1,074,384 1,186,470 Social security contributions 819,449 893,496 56,868 51,874 Other benefits 3,324,915 2,135,792 828,021 405,505 84,320,242 74,597,807 14,678,181 13,834,144 Included in the employee benefits of the Group and of the Company are Executive Directors’ remuneration as disclosed in Note 8. 8. DIRECTORS’ REMUNERATION Group Company 2023 2022 2023 2022 RM RM RM RM Directors of the Group and the Company: Executive: Salaries, bonus and allowances 6,244,388 5,479,440 4,551,776 3,846,363 Defined contribution plan 407,742 411,980 216,000 216,000 Social security contributions 5,378 5,035 1,901 1,644 Non-Executive: Fees 416,207 413,790 408,000 392,737 Allowances 85,500 97,500 85,500 97,500 Gratuity - 100,000 - 100,000 Total 7,159,215 6,507,745 5,263,177 4,654,244 The estimated monetary value of benefits-in-kind received by the Directors otherwise than in cash from the Group and from the Company amounted to RM71,042 (2022: RM97,500) and RM63,842 (2022: RM90,300) respectively. 98 GHL SYSTEMS BERHAD 199401007361 (293040-D)
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