163 / 188
159
NOTES TO THE FINANCIAL STATEMENTS
F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
28. RETIREMENT BENEFIT OBLIGATIONS (CONT’D.)
(b)
The amounts recognised in the profit or loss are as follows:
Group
2018
2017
RM’000
RM’000
Current service cost
200
199
Interest cost
89
85
Total, included in staff costs (Note 7)
289
284
(c)
Movements in the net liability during the financial year are as follows:
Group
2018
2017
RM’000
RM’000
At 1 April 2017/2016
1,837
1,391
Recognised in profit or loss (Note 6)
289
284
Benefits paid
(43)
(50)
Remeasurement of defined benefit liability
(49)
100
Exchange differences
(221)
112
At 31 March
1,813
1,837
(d)
Principal assumptions used by the foreign subsidiary in Indonesia in determining employee benefits liability as of
31 March 2018 and 2017 are as follows:
Group
2018
2017
Discount rate
7.3%
7.8%
Annual salary increase
7.0%
7.0%
Retirement age
55
55
The discount rate is determined based on the values of AA rated corporate bond yields with 3 to 15 years of maturity,
converted to estimated spot rates.