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LAPORAN TAHUNAN 2005 ANNUAL REPORT

19. EMPLOYEES RETIREMENT BENEFITS

2005

2004

2005

2004

RM’000

RM’000

RM’000

RM’000

The Group operates an unfunded, defined benefit Retirement Benefits Scheme (“the Scheme”) for its eligible employees. Under the Scheme, eligible employees are entitled to retirement benefits varying between 36% and 48% of final salary on attainment of the retirement age of 55.

The amount recognised in the balance sheets are determined as follows:

Group

Present value of unfunded defined benefit

2,113

2,016

Company

22

16

Analysed as: Current (Note 13)

180

180

-

-

229

141

-

-

468 1,236

449 1,246

- 22

- 16

1,933

1,836

22

16

Non-current: Later than 1 year but not later

than 2 years Later than 2 years but not

later than 5 years Later than 5 years

2005

2004

2005

2004

RM’000

RM’000

RM’000

RM’000

276 137 ( 20 )

210 90 ( 2,984 )

6 - -

5 - ( 75 )

393

( 2,684 )

6

( 70 )

Current service cost Interest cost Net transition asset

Total recognised in staff costs

2,113

The amount recognised in the income statements are as follows:

Group

2,016

22

Company

16

Of the Group’s and Company’s writeback in prior year, RM2,684,000 and RM70,000 respectively have been included in administrative expenses.

67

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