NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
34 TRADE AND OTHER PAYABLES (CONT’D)
Severance benefit obligations (cont’d)
(b)
The amounts recognised in profit or loss are as follows:
Group
2014
2013
(restated)
$’000
$’000
Current service cost
13
23
Interest cost
–
5
Past service costs
–
(76)
Total, included in employee benefits expense (note 7)
13
(48)
(c)
Movements in the net liability in the current year are as follows:
Group
2014
2013
(restated)
$’000
$’000
At 1 January
210
3,735
Amounts recognised in profit or loss
– Continuing operations (note 7)
13
(48)
– Discontinued operations
(12)
1,141
Paid during the year
(159)
(5,906)
Plan asset
–
5,458
Reclassification
–
181
Attributable to disposal group classified as held for sale
–
(4,301)
Sale of subsidiary
(38)
–
Exchange adjustment
(14)
(50)
At 31 December
–
210
(d)
Movements in the fair value of plan asset are as follows:
Group
2014
2013
$’000
$’000
At 1 January
–
8,102
Expected return
–
218
Funds withdrawal
–
(5,458)
Benefits paid
–
(14)
Attributable to disposal group classified as held for sale
–
(1,227)
Exchange adjustment
–
(1,621)
At 31 December
–
–
137
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
