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78

Every Note Counts

N otes to the Financial Statements

Year ended 31 December 2010

20

Employee benefits

Defined benefit obligations

Certain subsidiaries of the Group operate defined benefit plans that provide pension and healthcare benefits, as required under the labour laws of the respective countries. These pension plans are unfunded.

Details of defined benefit obligations in respect of the subsidiaries are as follows:

Group

2010 $’000

2009 $’000

13,481

17,185

(144)

(223)

13,337

16,962

Present value of unfunded obligations Unrecognised net actuarial losses Recognised liability for defined benefit obligations

Recognised liability comprises:

Note

2010 $’000

23 19

1,150 12,187 13,337

Current

1,742

Non-current

15,220

16,962

Movements in the liability for defined benefit obligations are as follows:

Group

2009 $’000

Note

2010 $’000

26 26

16,962 (1,847) 554 462 (221) (2,573) 13,337

At 1 January Benefits paid by the plan Current service costs recognised in the income statement Interest costs recognised in the income statement Provision written off Translation differences on consolidation At 31 December

Group

2009 $’000

15,996 (1,845) 2,355

579 - (123) 16,962

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