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Annual Report 2020
196
Notes to the Financial Statements
As at 31 March 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
32. Finance lease obligations
The minimum lease payments and the present value of the obligations under finance leases for the year ended 31 March
2019 is as follows:
Group
2019
RM’000
Miminum lease payments:
- due no later than one year
865
- due later than one year and no later than 5 years
4,781
- due later than 5 years
81,159
Total minimum lease payments
86,805
Less: Amounts representing finance charges
(71,294)
Present value of minimum lease payments
15,511
Present value of finance lease payables:
- due no later than one year
643
- due later than one year and no later than 5 years
2,550
- due later than 5 years
12,318
Present value of minimum lease payments
15,511
Less: Amount due within 12 months
(643)
Amount due after 12 months
14,868
33. Retirement benefit obligations
Group
2020
RM’000
2019
RM’000
At 1 April 2019/2018
1,831
1,813
Recognised in profit or loss (Note 6)
273
240
Contributions paid
(77)
(141)
Remeasurement of defined benefit liability
201
(110)
Exchange differences
(155)
29
At 31 March
2,073
1,831
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 2020.