Page 200 - SC SCAR 2023 ENGLISH Flipbook

PART 5 ORGANISATION INFORMATION
Movement in net defined benefit liability
Net defined benefit liability at 1 January
Included in profit or loss
Current service cost Interest expense
Others
Benefits paid
Remeasurement of defined benefit liability
Net defined benefit liability at 31 December
Defined benefit obligation actuarial assumptions
2023 RM’000
186,950
3,690 10,753
14,443
(4,504) 36,566
233,455
2022 RM’000
183,310
4,315 9,453
13,768
(3,159) (6,969)
186,950
2022
5.8% 10%, reducing to 6% in 4 years 60 years
Principal actuarial assumptions at the end of reporting period (expressed as weighted averages):
2023
Discount rate 5.1%
Medical cost inflation Normal retirement age
10%, reducing to 6% in 4 years 60 years
Assumptions regarding future mortality are based on published statistics and mortality tables.
At 31 December 2023, the weighted-average duration of the defined benefit obligation was 17 years (2022: 19 years).
Sensitivity analysis
The sensitivity analysis is based on a change in a significant assumption while holding all other assumptions constant. The sensitivities have been assessed by:
Defined benefit obligation
2023
Discount rate (1% movement)
Medical cost inflation rate (1% movement)
2022
Discount rate (1% movement)
Medical cost inflation rate (1% movement)
Increase RM’000
(36,886) 44,823
(29,351) 35,521
Decrease RM’000
47,158 (35,952)
37,390 (28,603)
198 SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023