159 AUDITED FINANCIAL STATEMENTS 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 49 PROVISION FOR DEFINED BENEFIT PLAN (CONTINUED) The sensitivity of the defined benefit obligation of the Group to changes in the weighted principal assumption is: Change in Impact on defined assumption benefit obligation RM’000 (i) Discount rate Increase 1% Decrease by RM2,025 Decrease 1% Increase by RM2,368 (ii) Salary growth rate Increase 1% Increase by RM953 Decrease 1% Decrease by RM1,223 The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the benefit liability recognised within the statement of financial position. The methods and types of assumptions used in preparing the sensitivity analysis have not changed compared to the previous financial year. The weighted average duration of the defined benefit obligation is 13 to 24 (2020: 2 to 28) years. Expected maturity analysis of undiscounted defined benefit obligation: Less than Between Between Over 5 a year 1 – 2 years 2 – 5 years years Total RM’000 RM’000 RM’000 RM’000 RM’000 Provision for defined benefit plan At 31 December 2021 2,133 2,531 8,971 88,218 101,853 At 31 December 2020 1,533 2,068 9,498 119,686 132,785 50 DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statement of financial position: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Present value of obligation: Subject to income tax – Deferred tax assets 295,131 526,672 6,527 – – Deferred tax liabilities (575,740) (635,501) – –
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