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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
27. Provisions (cont’d)
Group
Severance
benefits
RM’000
Mine
rehabilitation
RM’000
Total
RM’000
At 1 January 2010 7,725 20,583 28,308
Provision during the year (Notes 4 and 8) 8,544 5,855 14,399
Unwinding of discount on provision (Note 9) – 123 123
Paid/Utilised during the year (3,430) – (3,430)
Plan asset (Note 27(a)i) (10,722) – (10,722)
Attributable to disposal group classified as held for sale (Note 22) – (158) (158)
Exchange differences (351) (2,014) (2,365)
At 31 December 2010 1,766 24,389 26,155
At 31 December 2011
Current
Non-current:
495 14,624 15,119
Later than 1 year but not later than 2 years – 26,562 26,562
Later than 2 years but not later than 5 years – 101 101
Later than 5 years 100 2,722 2,822
At 31 December 2010
100 29,385 29,485
595 44,009 44,604
Current
Non-current:
1,673 4,415 6,088
Later than 1 year but not later than 2 years – 3,808 3,808
Later than 2 years but not later than 5 years – 13,574 13,574
Later than 5 years 93 2,592 2,685
(a) Severance benefits
93 19,974 20,067
1,766 24,389 26,155
The subsidiaries in Indonesia operate a partly funded, Severance Benefits Scheme (“the Scheme”) for their eligible
employees. Under the Scheme, eligible permanent employees confirmed in service are entitled to severance benefits
due to reduction or termination of operations, termination due to ill-health or death and on attainment of the normal
retirement age of 55 or early retirement age of 50 due to ill-health. The obligations under the Scheme are determined
based on actuarial valuation.
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 135