7 183 182 Notes to the Financial Statements Notes to the Financial Statements 21. EMPLOYEE BENEFITS The Group’s net obligation in respect of defined benefit retirement plans arises from its subsidiaries in Indonesia. The following table summarises the components of net employee benefit expense recognised in the statement of profit or loss and other comprehensive income and in the statement of financial position as employee benefits: Group 2023 RM’000 2022 RM’000 a. Expense recognised in profit or loss Current service cost 2,160 1,421 Past service cost (184) (1,666) Interest on obligation 1,096 891 Net employee benefit expense 3,072 646 b. Present value of defined employee benefit obligations Net employee benefit expense 12,258 10,875 c. Present value of defined employee benefit obligations Defined employee benefit obligations at 1 April 2022/2021 10,875 12,029 Current service cost and interest 3,072 646 Payment during the year (992) (366) Actuarial gain recorded in other comprehensive income (753) (1,752) Effect of movements in exchange rate 56 318 Defined employee benefit obligations at 31 March 12,258 10,875 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 - 57 years Annual salary increment (estimated) : 5.00% - 10.20% (2022: 5.00% - 10.20%) Annual discount rate : 7.00% - 7.27% (2022: 6.92% - 8.16%) Mortality level : Indonesian Mortality Table (“TMI”) 3 & 4 Disability level : 10% from mortality level (2022: 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 financial year end is sufficient to meet the requirements of the law in Indonesia. 22. REVENUE Marine-products manufacturing Palm oil and clean energy Integrated livestock farming Convenience store chain Total 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Group Major products and service lines Sale of goods 1,341,701 1,164,856 293,392 379,960 3,439,415 2,786,474 861,017 636,711 5,935,525 4,968,001 Construction contracts - - 307,097 267,975 - - - - 307,097 267,975 1,341,701 1,164,856 600,489 647,935 3,439,415 2,786,474 861,017 636,711 6,242,622 5,235,976 Primary geographical markets Malaysia 853,331 762,769 336,190 414,627 2,117,866 1,771,576 861,017 636,711 4,168,404 3,585,683 Indonesia 155,565 80,132 251,438 227,426 720,886 571,218 - - 1,127,889 878,776 Vietnam 13,056 2,582 230 - 360,409 257,936 - - 373,695 260,518 Other countries 319,749 319,373 12,631 5,882 240,254 185,744 - - 572,634 510,999 1,341,701 1,164,856 600,489 647,935 3,439,415 2,786,474 861,017 636,711 6,242,622 5,235,976 Timing and recognition At a point in time 1,341,701 1,164,856 293,392 379,960 3,439,415 2,786,474 861,017 636,711 5,935,525 4,968,001 Over time - - 307,097 267,975 - - - - 307,097 267,975 1,341,701 1,164,856 600,489 647,935 3,439,415 2,786,474 861,017 636,711 6,242,622 5,235,976
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