Page 60

25 URBAN DEVELOPMENT CORPORATION Notes to the Non-Consolidated Financial Statements (Continued) Year ended March 31, 2010

8.

Retirement benefit asset

Present value of funded obligations of defined benefit pension plan Fair value of plan assets

2010 $’000

2009 $’000

( 799,193) 1,321,078

( 483,076) 1,187,554

Net assets Unrecognised net actuarial gains Asset not recognised due to limitation in economic benefits Asset recognised in the statement of financial position (a)

(b)

(c)

521,885 (

60,346) 461,539

704,478 ( 284,075) ( 420,403) -

Movements in funded obligations: 2010 $’000

2009 $’000

Balance at beginning of year Current service costs Interest costs Actuarial (losses)/gains Benefits paid Settlement Purchase of pension increase

( 483,076) ( 39,946) ( 79,843) ( 277,948) 17,556 93,248 ( 29,184)

( 511,780) ( 47,817) ( 72,118) 138,959 6,910 2,770 -

Balance at end of year

( 799,193)

( 483,076)

2010 $’000

2009 $’000

Balance at beginning of year Amounts charged to profit or loss Contributions

444,358 17,181

255,757 ( 268,876) 13,119

Balance at end of year

461,539

-

Movements in the net assets in the year were as follows:

Movements in plan assets:

Fair value of plan assets at beginning of year Contributions paid Expected return on plan assets Benefits paid Actuarial losses/(gains) Settlement Fair value of plan assets at end of year

2010 $’000

2009 $’000

1,187,554 48,662 114,085 ( 21,979) 86,004 ( 93,248) 1,321,078

1,071,628 43,308 103,534 ( 6,910) ( 21,236) ( 2,770) 1,187,554

Annreport09 10  
Advertisement