QL Resources Berhad (428915-X)
108
19. Employee benefits
The Group’s net obligation in respect of defined benefit retirement plans arises from its subsidiaries in Indonesia. The
following tables summarise the components of net employee benefit expense recognised in the statements of profit or
loss and other comprehensive income and in the statements of financial position as employee benefits.
Group
2016 2015
RM’000 RM’000
• Expense recognised in profit or loss
Current service cost 703 439
Interest on obligation 141 96
Net benefit expense 844 535
• Present value of defined benefit obligations
Present value of defined benefit obligations 2,304 1,644
Unrealised actuarial gain - 22
Net benefit expense 2,304 1,666
Present value of defined benefit obligation
Defined benefit obligations at 1 April 2015/2014 1,666 1,151
Current service cost and interest 844 536
Payment during the year (206) (21)
Defined benefit obligations at 31 March 2,304 1,666
The principal assumptions used in determining the retirement benefit cost at end of the reporting period are as follows:
Calculation method : Projected Unit Credit
Normal pension age : 55 years
Annual salary increment
(estimated) : 7% - 10.2% (2015: 7% - 10.2%)
Annual discount rate : 8.38% (2015: 8%)
Mortality level : Indonesian Mortality Table (“TMI”) 3
Disability level : 10% from mortality level (2015: 10%)
Resignation level : 5% constant until the age of 34 and linearly decreasing until the pension age
The Group’s management believes that the accrued employee benefit as of 31 March 2016 is sufficient to meet the
requirements of the law in Indonesia.
20. Trade and other payables
Group Company
Note 2016 2015 2016 2015
RM’000 RM’000 RM’000 RM’000
Current
Trade payables 20.1 153,481 127,494 - -
Associate - trade 20.2 1,868 1,721 - -
Subsidiaries - - - 5,717
Other payables 20.3 85,240 79,187 28 27
Accrued expenses 30,977 29,900 3,362 3,212
271,566 238,302 3,390 8,956
Notes to the Financial Statements
(Cont’d.)
