46 PROVISION FOR DEFINED BENEFIT PLAN (CONTINUED) 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 11 to 27 (2023: 11 to 25) years. Expected maturity analysis of the Group of undiscounted defined benefit obligation: Less than a year RM’000 Between 1-2 years RM’000 Between 2-5 years RM’000 Over 5 years RM’000 Total RM’000 Provision for defined benefit plan At 31 December 2024 4,434 4,464 12,304 105,459 126,661 At 31 December 2023 4,549 4,513 12,648 104,553 126,263 47 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 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Subject to income tax – Deferred tax assets 288,709 237,429 4,124 274 – Deferred tax liabilities (655,455) (591,523) – – At 31 December (366,746) (354,094) 4,124 274 FGV Holdings Berhad | Audited Financial Statements 2024 Notes to the Financial Statements For the financial year ended 31 December 2024 168
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