FGV Annual Report 2012

103 F i n a n c i a l S t a t e m e n t s 2 0 1 2 P e n y a t a K e w a n g a n 44 PROVISION FOR DEFINED BENEFIT PLAN Group Company 2012 2011 2012 2011 RM’000 RM’000 RM’000 RM’000 Non-current 19,429 492 186 24 The defined benefit plan comprises obligations by certain Malaysian subsidiaries which adopt the Group human resource policy for its employees. The movements during the financial year in the amounts recognised in the statement of financial position of the Group and Company are as follows: Group Company 2012 2011 2012 2011 RM’000 RM’000 RM’000 RM’000 At 1 January 492 1,032 24 – Recognition of defined benefit plan on transfer of employees from a related company 18,645 – – – Charged to profit or loss 2,523 78 21 24 Benefits paid (3,279) (618) – – Re-measurement 1,048 – 141 – At 31 December 19,429 492 186 24 The amounts recognised in the statement of financial position are determined as follows: Group Company 2012 2011 2012 2011 RM’000 RM’000 RM’000 RM’000 Present value of unfunded obligations 18,381 492 45 24 Re-measurement: – Changes in financial assumptions 934 – 13 – – Experience adjustments 114 – 128 – 1,048 – 141 – Net liabilities 19,429 492 186 24 The amounts recognised in profit or loss are as follows: Group Company 2012 2011 2012 2011 RM’000 RM’000 RM’000 RM’000 Current service cost 1,397 42 15 23 Interest cost 1,126 36 6 1 Expense recognised in profit or loss 2,523 78 21 24