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Notes to the
Financial Statements
As at 31 March 2020
Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
172
29. Deferred taxation (cont’d.)
Deferred tax liability/(asset) of the Company:
Accelerated
capital
allowances
Provision
for liabilities
Total
RM’000
RM’000
RM’000
At 1 April 2018
209
(619)
(410)
Recognised in profit or loss
42
(54)
(12)
At 31 March 2019
251
(673)
(422)
Recognised in profit or loss
56
564
620
At 31 March 2020
307
(109)
198
30. Retirement benefit obligations
The foreign subsidiary in Indonesia operates an unfunded defined benefit plan for its eligible employees. The obligations under
the retirement benefit are calculated using the projected unit credit method, is determined by a qualified independent actuary,
considering the estimated future cash outflows using market yields at the reporting date of high quality corporate bonds. The latest
actuarial valuation was carried out using the employee data as at 31 March 2020.
(a) The amounts recognised in the statement of financial position are determined as follows:
Group
2020
2019
RM’000
RM’000
Present value of unfunded defined benefits obligations
2,073
1,831
Analysed as:
Non-current
2,073
1,831
(b) The amounts recognised in the profit or loss are as follows:
Group
2020
2019
RM’000
RM’000
Current service cost
163
147
Interest cost
110
93
Total, included in staff costs (Note 8)
273
240