2019 UEM Edgenta Annual Report

220 221 UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP STRATEGIC FOCUS OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION Notes to the Financial Statements For the year ended 31 December 2019 Notes to the Financial Statements For the year ended 31 December 2019 UEM Edgenta Berhad Annual Report 2019 26. RETIREMENT BENEFIT OBLIGATIONS (CONT’D.) Group 2019 RM’000 2018 RM’000 Analysis of funded and unfunded PVDBO PVDBO from plans that are wholly unfunded 3,747 4,456 Analysed as: Current 564 940 Non-current: Later than 1 year but not later than 2 years 877 564 Later than 2 years 2,306 2,952 3,183 3,516 3,747 4,456 The details of net employee benefits expense recognised in income statement are as follows: Group 2019 RM’000 2018 RM’000 Current service costs 59 67 Interest cost 172 206 Net employee benefits expense (Note 8) 231 273 26. RETIREMENT BENEFIT OBLIGATIONS (CONT’D.) Total amount recognised in statement of comprehensive income Group 2019 RM’000 2018 RM’000 Cumulative amount of actuarial loss recognised in statement of comprehensive income: At 1 January 963 710 Actuarial loss recognised in other comprehensive income - 253 At 31 December 963 963 Historical experience adjustments: PVDBO 3,747 4,456 Experience adjustment (value) - 253 Experience adjustment (% of PVDBO) 0% 6% Principal actuarial assumptions used: 2019 % 2018 % Discount rate 4.90 4.90 Expected rate of salary increases 5.00 5.00 Assumptions regarding future mortality are based on published statistics and mortality tables. A one percentage point change in the below key assumptions would have the following effects: Increase/(decrease) in PVDBO 2019 RM’000 2018 RM’000 Discount rate Increase in one percentage point on discount rate (110) (135) Decrease in one percentage point on discount rate 117 144 Salary increment rate Increase in one percentage point on salary increment rate 375 342 Decrease in one percentage point on salary increment rate (352) (321)