axiata group berhad | annual report 2015
197
21. TRADE AND OTHER PAYABLES (CONTINUED)
(a) Defined benefits plans (continued)
The movement in present value of obligations of the defined benefit plans is as follows:
Group
2015
2014
RM’000
RM’000
At 1 January
95,982
63,085
Acquisition of subsidiary
174
-
Charge to profit or loss:
- current service cost
12,171
10,222
- interest costs
9,183
7,125
- past service cost
(206)
(160)
21,148
17,187
Benefit paid
(5,297)
(5,887)
Settlement loss
3,604
4,151
Charge to other comprehensive income:
- actuarial (gains)/losses
(17,351)
14,806
Currency translation differences
12,525
2,640
At 31 December
110,785
95,982
Present value of the defined benefits obligation of the Group is calculated annually by independent actuaries using the projected unit credit
method. The principal actuarial valuation assumption used was as follows:
Group
2015
2014
Discount rate (p.a.)
9.0% - 10.8%
8.5% - 9.6%
Salary increment rate (p.a.)
10.0% - 12.0%
10.0% - 12.0%
(b) Finance lease payables are payables related to the sale and lease back of tower assets of a subsidiary.
Details of the lease payables according to the maturity schedule are as follows:
Group
2015
2014
RM’000
RM’000
Within one (1) year
114,356
43,580
Between one (1) and five (5) years
306,135
221,205
More than five (5) years
323,044
318,605
Finance lease payables
743,535
583,390
