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Annual Report 2017
185
Notes to the
financial statements
31 march 2017
26. Finance lease obligations
2017
2016
RM’000
RM’000
Miminum lease payments:
- due no later than one year
742
726
- due later than one year and no later than 5 years
4,030
3,697
- due later than 5 years
83,595
84,671
Total minimum lease payments
88,367
89,094
Less: Amounts representing finance charges
(71,567)
(71,649)
Present value of minimum lease payments
16,800
17,445
Present value of finance lease payables:
- due no later than one year
624
646
- due later than one year and no later than 5 years
2,284
2,257
- due later than 5 years
13,892
14,542
Present value of minimum lease payments
16,800
17,445
Less: Amount due within 12 months
(624)
(646)
Amount due after 12 months
16,176
16,799
27. Retirement benefit obligations
Group
2017
2016
RM’000
RM’000
At 1 April 2016/2015
1,391
1,634
Recognised in profit or loss (Note 6)
284
69
Contributions paid
(50)
(14)
Remeasurement of defined benefit liability
100
(354)
Exchange differences
112
56
At 31 March
1,837
1,391
The foreign subsidiary in Indonesia operates an unfunded defined benefit plan for its eligible employees. The obligations
under the retirement benefit scheme are calculated using the projected unit credit method, is determined by a qualified
independent actuary, considering the estimated future cash outflows using market yields at the reporting date of high quality
corporate bonds. The latest actuarial valuation was carried out using the employee data as at 31 March 2017.
(a)
The amounts recognised in the statement of financial position are determined as follows:
Group
2017
2016
RM’000
RM’000
Present value of unfunded defined benefits obligations
1,837
1,391
Analysed as:
Non-current
1,837
1,391