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Notes to the Financial Statements (cont’d)<br />
For the financial year ended 31 December 2011<br />
27. Provisions (cont’d)<br />
Group<br />
Severance<br />
benefits<br />
RM’000<br />
Mine<br />
rehabilitation<br />
RM’000<br />
Total<br />
RM’000<br />
At 1 January 2010 7,725 20,583 28,308<br />
Provision during the year (Notes 4 and 8) 8,544 5,855 14,399<br />
Unwinding of discount on provision (Note 9) – 123 123<br />
Paid/Utilised during the year (3,430) – (3,430)<br />
Plan asset (Note 27(a)i) (10,722) – (10,722)<br />
Attributable to disposal group classified as held for sale (Note 22) – (158) (158)<br />
Exchange differences (351) (2,014) (2,365)<br />
At 31 December 2010 1,766 24,389 26,155<br />
At 31 December 2011<br />
Current<br />
Non-current:<br />
495 14,624 15,119<br />
Later than 1 year but not later than 2 years – 26,562 26,562<br />
Later than 2 years but not later than 5 years – 101 101<br />
Later than 5 years 100 2,722 2,822<br />
At 31 December 2010<br />
100 29,385 29,485<br />
595 44,009 44,604<br />
Current<br />
Non-current:<br />
1,673 4,415 6,088<br />
Later than 1 year but not later than 2 years – 3,808 3,808<br />
Later than 2 years but not later than 5 years – 13,574 13,574<br />
Later than 5 years 93 2,592 2,685<br />
(a) Severance benefits<br />
93 19,974 20,067<br />
1,766 24,389 26,155<br />
The subsidiaries in Indonesia operate a partly funded, Severance Benefits Scheme (“the Scheme”) for their eligible<br />
employees. Under the Scheme, eligible permanent employees confirmed in service are entitled to severance benefits<br />
due to reduction or termination of operations, termination due to ill-health or death and on attainment of the normal<br />
retirement age of 55 or early retirement age of 50 due to ill-health. The obligations under the Scheme are determined<br />
based on actuarial valuation.<br />
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 135