FGV Audited Financial Statements 2019

197 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 2019 50 PROVISION FOR DEFINED BENEFIT PLAN (CONTINUED) The amounts recognised in profit or loss are as follows: Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Current service cost 10,475 (1,153) 319 126 Loss on settlement 2,817 - - - Finance cost 3,836 4,282 106 77 Remeasurement (965) (523) (56) - Expense recognised in profit or loss 16,163 2,606 369 203 The defined benefit obligations for the Group by country are as follows: Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Present value of obligation: - Malaysia 84,229 79,268 1,706 2,094 - Indonesia 2,447 2,871 - - - Thailand 1,125 822 - - 87,801 82,961 1,706 2,094 The principal actuarial assumptions used in respect of the Group’s and the Company’s unfunded defined retirement benefits are as follows: Group Company 2019 % 2018 % 2019 % 2018 % Discount rate 4.40 5.30 4.40 5.30 Expected rate of salary increase 5.00 5.00 5.00 5.00