Page 183 - S P Setia Annual Report 2016

 

 

 

 

 

Page 183 - S P Setia Annual Report 2016
P. 183

S P Setia Berhad Group                                                                                181
          Annual Report 2016




                                                                               Notes To The Financial Statements

                                                                                  For The Financial Year Ended 31 December 2016

          35.   EMPLOYEE BENEFITS EXPENSE

                                                                        Group                      Company
                                                                   1.1.2016     1.11.2014      1.1.2016      1.11.2014
                                                                         to            to            to            to
                                                                 31.12.2016    31.12.2015    31.12.2016     31.12.2015
                                                                   RM’000         RM’000        RM’000        RM’000

               Employee benefits expense                           275,042       342,398         11,301        17,376

              Included in employee benefits expense are the following:

                                                                        Group                      Company
                                                                   1.1.2016     1.11.2014      1.1.2016      1.11.2014
                                                                        to             to            to            to
                                                                 31.12.2016    31.12.2015    31.12.2016     31.12.2015
                                                                   RM’000         RM’000        RM’000        RM’000

               EPF                                                  18,599        29,306           725          1,275
               Share-based payment under the LTIP                   31,483        44,887           643           961


         36.  CHANGES IN THE COMPOSITION OF THE GROUP

              Dissolution of subsidiary

              During the financial year, the Group has dissolved its wholly owned subsidiary, Setia Jersey Investment Holding Company Limited
              (“Setia Jersey”).

              The Group recognises a net gain of RM1,123,000 from the dissolution of Setia Jersey. Setia Jersey has been dormant since its
              incorporation and accordingly, no disclosures were made on the effects of dissolution as the financial impact is immaterial to the
              financial position of the Group.
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