FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 297 47 PROVISION FOR DEFINED BENEFIT PLAN (CONT’D.) The amounts recognised in the statement of financial position are determined as follows: Group Company 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Present value of unfunded obligations 34,474 18,381 120 45 Re-measurement: - Changes in financial assumptions (96) 934 (1) 13 - Experience adjustments 308 114 (18) 128 212 1,048 (19) 141 Net liabilities 34,686 19,429 101 186 The amounts recognised in profit or loss are as follows: Group Company 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Current service cost 1,711 1,397 (42) 15 Finance cost 886 1,126 10 6 Past service cost (2,034) - - - Expense recognised in profit or loss 563 2,523 (32) 21 The defined benefit obligations for the Group by country are as follows: Group Company 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Present value of obligation: - Malaysia 33,901 19,429 101 186 - Indonesia 560 - - - - Thailand 225 - - - 34,686 19,429 101 186 The principal actuarial assumptions used in respect of the Group’s and the Company’s unfunded defined retirement benefits are as follows: Group Company 2013 2012 2013 2012 % % % % Discount rate 4.25-9.75 5.25-7.00 5.25 6.25 Expected rate of salary increase 5.00-10.00 6.00-10.00 5.00 6.00