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236 / MRCB annual report 2011 /
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2011
36 POST-EMPLOYMENT BENEFIT OBLIGATIONS (cont’d)
Defined benefit plan
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
At 1 January 11,507 11,054 3,497 3,365
Charged to profit or loss (Note 12) 1,994 1,968 635 608
Utilised during the financial year (1,023) (1,515) (224) (476)
At 31 December 12,478 11,507 3,908 3,497
The amounts recognised in the Group’s and the Company’s statement of financial positions are analysed as follows based
on valuation carried out on 23 October 2009:
Non-current
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Present value of unfunded obligations 12,478 11,507 3,908 3,497
The expenses recognised in the Group’s and the Company’s profit or loss are analysed as follows:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Current service cost 1,112 1,126 345 339
Interest cost 839 788 276 252
Actuarial loss recognised 43 54 14 17
Total included in staff costs (Note 12) 1,994 1,968 635 608
The above charge to the profit or loss was included in administrative expenses of the year.
The principal actuarial assumptions used by the valuers in the valuation carried out on 23 October 2009 in respect of the
Group’s and the Company’s defined benefit plan is as follows:
Group and Company
%
Discount rate 6.2
Expected rate of salary increases 4.0
There is no material effect to the defined benefit obligations should there a 1% movement in the above assumed discounted
rate.