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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
27. Provisions (cont’d)
136
(a) Severance benefits (cont’d)
The amounts recognised in the statement of financial position are determined as follows:
Building on Success: Developing Resources for the Future
Group
2011 2010
RM’000 RM’000
Present value of unfunded defined benefit obligations 47,154 39,640
Fair value of plan asset (37,648) (26,738)
Unrecognised actuarial losses (8,554) (10,257)
Unrecognised past service costs (357) (879)
Net liability 595 1,766
Analysed as:
Current 495 1,673
Non-current:
Later than 5 years 100 93
The amounts recognised in profit or loss are as follows:
595 1,766
2011 2010
RM’000 RM’000
Current service cost 7,889 5,520
Interest cost 2,549 3,021
Net actuarial losses 511 545
Past services costs 2,146 1,741
Expected return on plan asset (3,180) (2,283)
Total, included in employee benefits expense (Note 8) 9,915 8,544
Movements in the net liability in the current year are as follows:
2011 2010
RM’000 RM’000
At 1 January 1,766 7,725
Recognised in profit or loss (Note 8) 9,915 8,544
Contribution paid (263) (3,430)
Plan asset (Note 27 (a)i) (11,234) (10,722)
Exchange differences 411 (351)
At 31 December 595 1,766