FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 204 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 12 (LOSS)/PROFIT FOR THE FINANCIAL YEAR (CONTINUED) (Loss)/profit for the financial year is stated after charging/(crediting) (continued) Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 Reversal of onerous contract (net) (845) (16,637) - - Reversal of provision for asset retirement (net) (1,500) - - - Unwinding of discount for provision for asset retirement 465 1,385 - - Transportation, loading and handling 157,217 213,541 - - Tax penalty - 2,293 - 2,196 * Staff costs (excluding Directors’ remuneration) are analysed as follows: Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 Wages, salaries and bonuses 1,206,639 1,173,344 64,454 65,027 Defined contribution plan 124,691 127,955 12,142 14,238 Defined benefit plan 2,606 11,523 203 287 Employee share grant 5,283 8,579 1,519 2,425 Other employee benefits 287,668 232,064 18,629 23,375 1,626,887 1,553,465 96,947 105,352 Staff cost included in costs of sales amounted to RM1,192,630,000 (2017: RM1,154,577,000) and RM28,697,000 (2017: RM43,090,000) for the Group and Company respectively. ** Other operating expenses are analysed as follows: Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 Loss on disposal of an associate 18,494 - - Impairment loss on investment in a joint venture 1,350 2,444 - - Provision for litigation loss 2,700 32,841 - - Loss on liquidation of a subsidiary - 68 - 68 Other operating expenses 16,207 6,106 293 - 38,751 41,459 293 68