EMPLOYEE BENEFIT OBLIGATIONS Sample Clauses

EMPLOYEE BENEFIT OBLIGATIONS. Movement of employee benefit obligations for the six-month period ended June 30, 2014 shown as follow :- The statements of financial position In Thousand Baht Consolidated Separate Financial Financial Statements Statements Employee benefit obligations, beginning of the period 28,860 28,166 Current service costs 1,515 1,423 Interest cost 442 428 Employee benefit obligations, ending of the period 30,817 30,017 Expense recognized in the statements of comprehensive income In Thousand Baht Consolidated Financial Statements Separate Financial Statements For the three-month periods ended June 30 For the three-month periods ended June 30 2014 2013 2014 2013 Current service costs 758 795 712 752 Interest on obligation 221 227 213 222 Total 979 1,022 925 974 Current service costs Cost of service 39 38 - - Selling expenses 246 229 246 229 Administrative expenses 000 000 000 228 Management benefit expenses 209 296 208 295 Finance costs 221 227 213 222 Total 979 1,022 925 974 In Thousand Baht Consolidated Financial Statements Separate Financial Statements For the six-month periods ended June 30 For the six-month periods ended June 30 2014 2013 2014 2013 Current service costs 1,515 1,578 1,423 1,491 Interest on obligation 442 453 428 444 Loss estimation under actuarial principles - 882 - 718 Total 1,957 2,913 1,851 2,653 Current service costs Cost of service 77 76 - - Selling expenses 000 000 000 455 Administrative expenses 528 1,337 516 1,164 Management benefit expenses 418 592 415 590 Finance costs 442 453 428 444 Total 1,957 2,913 1,851 2,653 18. LIABILITIIES FROM PURCHASING THE REAL ESTATE PROJECT The Company had an obligation under the contract to buy and sell land of a real estate project with a company under the buy and sale agreement dated December 16, 2004. The contract to buy and to sell land requires the Company has to pay for the land, including the debt burden owing to the existing customers of the project. Movements in the liabilities from purchasing the real estate project account during the three-month periods ended June 30, 2014 and December 31, 2013 are summarized below. In Thousand Baht Consolidated Financial Statements/ Separate Financial Statements As at June As at December 30, 2014 (six-month period) 31, 2013 (annual period) Beginning balance 80,719 104,449 Less decrease (reversal) during the period (3,420) (23,730) Liabilities from purchasing the real estate project 77,299 80,719 As at June 30, 2014, liabilities from purchasing the real estate pro...
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EMPLOYEE BENEFIT OBLIGATIONS. The amount of payments, bonuses, benefits or other obligations arising under any Transferred Company Plans or any other plans, programs, agreements or arrangements to which any Company or Subsidiary contributes or is obligated to contribute, which amount is to be paid, funded or otherwise satisfied following the Closing Date with respect to, including or covering any period prior to the Closing Date.
EMPLOYEE BENEFIT OBLIGATIONS. The statements of financial position Baht Consolidated financial statements Separate financial statements 2018 2017 2018 2017 Defined benefit obligations at the beginning of the year 133,868,376 115,663,350 49,318,168 45,318,119 Benefits paid by the plan (7,036,832) (4,955,718) (3,541,124) (3,331,810) Current service costs and interest 21,820,673 20,009,864 7,690,588 7,331,859 Past service costs 814,396 - - - Actuarial (gain) loss (329,810) 3,150,880 - - Defined benefit obligations at the end of the year 149,136,803 133,868,376 53,467,632 49,318,168 Expenses recognized in the statement of comprehensive income For the years ended December 31, 2018 and 2017 Baht Consolidated financial statements Separate financial statements 2018 2017 2018 2017 Current service costs Cost of medical treatment 11,305,862 10,636,316 3,753,970 3,764,691 Administrative expenses 5,207,099 4,429,798 1,941,094 1,613,439 Management benefit expenses 26,098 23,873 - - Interest on obligation 5,281,614 4,919,877 1,995,524 1,953,729 Total 21,820,673 20,009,864 7,690,588 7,331,859 Gain (loss) from the estimate based on actuarial principles recognized in the other comprehensive income for the years ended December 31, 2018 and 2017 arise from :- Baht Consolidated financial statements Separate financial statements 2018 2017 2018 2017 Improvement from experience 1,927,826 788,511 - - Demographic assumption (2,039,677) 70,693 - - Financial assumption 441,661 (4,010,084) - - Total 329,810 (3,150,880) - - Principal actuarial assumptions in the estimates base on the actuarial principles. Percentage Consolidated financial statements Separate financial statements 2018 2017 2018 2017 Discount rate 2.76 - 3.63 3.48 - 3.99 3.52 3.52 Salary increase rate 3.00 - 6.70 3.00 - 6.70 5.40 5.40 Employee turnover rate 0.00 - 26.37 0.00 - 23.98 0.00-23.13 0.00-23.13 Disability rate 10.00 of mortality rate 10.00 of mortality rate 10.00 of mortality rate 10.00 of mortality rate Mortality rate 100.00 of mortality rate according to Thai mortality table 2008, 2017 male and female tables 100.00 of mortality rate according to Thai mortality table 2008 male and female tables 100.00 of mortality rate according to Thai mortality table 2008 male and female tables 100.00 of mortality rate according to Thai mortality table 2008 male and female tables Sensitivity analysis The results of sensitivity analysis for significant assumptions that affect the present value of the long-term employee benefit obligations as at December 3...
EMPLOYEE BENEFIT OBLIGATIONS. Employee benefit obligations consists of : The statements of financial position In Baht Consolidated Financial Statements Separate Financial Statements 2018 2017 2018 2017 Defined benefit obligations, beginning of the years 38,008,941.00 39,885,275.00 36,904,041.00 38,739,960.00 Plus Current service costs and interest 17,780,297.00 5,192,008.00 17,207,626.00 4,990,113.00 Less Employee benefit obligations paid during the year - (636,800.00) - (636,800.00) Less Actuarial loss from post-employee benefit - (6,431,542.00) - (6,189,232.00) Defined benefit obligations, ending of the years 55,789,238.00 38,008,941.00 54,111,667.00 36,904,041.00 Expense recognized in the statements of comprehensive income In Baht Consolidated Financial Statements Separate Financial Statements 2018 2017 2018 2017 Recognized in profit (loss) Current service costs 16,622,645.00 4,005,104.00 16,085,882.00 3,839,509.00 Interest on obligation 1,157,652.00 1,186,904.00 1,121,744.00 1,150,604.00 Total 17,780,297.00 5,192,008.00 17,207,626.00 4,990,113.00 Current service costs Cost of service 268,362.00 121,245.00 - - Selling expenses 3,788,591.00 1,238,997.00 3,788,591.00 1,238,997.00 Administrative expenses 8,888,628.00 1,452,757.00 8,620,227.00 1,408,407.00 Management benefit expenses 3,677,064.00 1,192,105.00 3,677,064.00 1,192,105.00 Finance costs 1,157,652.00 1,186,904.00 1,121,744.00 1,150,604.00 Total 17,780,297.00 5,192,008.00 17,207,626.00 4,990,113.00 Recognized in other comprehensive income Actuarial loss from post-employee benefit - (6,431,542.00) - (6,189,232.00) Total - (6,431,542.00) - (6,189,232.00) Total 17,780,297.00 (1,239,534.00) 17,207,626.00 (1,199,119.00) Gain and loss from the estimate based on actuarial principles recognized in the statement of comprehensive income for the year ended December 31, 2018 arise from In Baht For the year ended December 31, 2018 Recognize in other comprehensive income Consolidated Financial Statements Separate Financial Statements Improvement from experience 868,161.00 737,809.00 Population assumption (273,243.00) (191,295.00) Financial assumption 5,836,624.00 5,642,718.00 Total 6,431,542.00 6,189,232.00 The main assumptions in the estimates the financial assumptions for the Group of Company based on actuarial principles. For the years ended December 31, 2018 and 2017. Percentage Consolidated Financial Statements Separate Financial Statements 2018 2017 2018 2017 Discount rate 2.30 - 2.46 2.30 - 2.46 2.30 2.30 Salary increase rate 4.00 4....
EMPLOYEE BENEFIT OBLIGATIONS. Movement of employee benefit obligations were summarized as follows : Baht Consolidated financial statements Separate financial statements As at September 30, 2019 As at December 31, 2018 As at September 30, 2019 As at December 31, 2018 (For the nine-month) (For the year) (For the nine-month) (For the year) Beginning balance 1,313,129.00 1,536,704.00 1,150,101.00 1,483,401.00 Past service costs and interest - change a post-employment plan amendment 84,656.00 - 11,509.00 - Current service costs during the period 548,261.00 490,064.00 458,850.00 419,812.00 Interest during the period 25,623.00 21,960.00 21,034.00 18,924.00 Actuarial gain - (735,599.00) - (772,036.00) Less Employee benefit obligations due within one year (155,514.00) - (155,514.00) - Ending balance 1,816,155.00 1,313,129.00 1,485,980.00 1,150,101.00 Expense recognized in the statements of comprehensive income: Baht Consolidated financial statements For the three-month period ended September 30, For the nine-month period ended September 30, 2019 2018 2019 2018 Past service costs - - 84,656.00 - Current service costs Selling and administrative expenses 107,526.00 80,770.00 306,544.00 243,001.00 Management’s benefits 80,573.00 51,991.00 241,717.00 155,973.00 Interest on obligation 8,093.00 6,350.00 25,623.00 19,050.00 Total 196,192.00 139,111.00 658,540.00 418,024.00 Baht Separate financial statements For the three-month period ended September 30, For the nine-month period ended September 30, 2019 2018 2019 2018 Past service costs - - 11,509.00 - Current service costs Selling and administrative expenses 71,302.00 57,928.00 217,133.00 173,775.00 Management’s benefits 80,573.00 51,991.00 241,717.00 155,973.00 Interest on obligation 6,717.00 5,226.00 21,034.00 15,678.00 Total Employee benefit obligations 158,592.00 115,145.00 491,393.00 345,426.00 On April 5, 2019, the Labour Protection Act has been enacted in the Royal Gazette. The Labour Protection Act includes a requirement that an employee who is terminated after having been employed by the same employer for an uninterrupted period of 20 years or more, receives severance payment of 400 days of wages at the most recent rate, which is increased from the current maximum rate of 300 days. This Act shall come into force after the expiration of thirty days from the enacted date in the Royal Gazette onwards. This change is considered a post-employment benefits plan amendment. The effect of the change is recognized past service costs as expenses in the ...
EMPLOYEE BENEFIT OBLIGATIONS. As at September 30, 2020 and December 31, 2019, the Company has defined benefit obligations as follows: The statement of financial position Baht Consolidated financial statements/ Separate financial statements As at September 30, 2020 As at December 31, 2019 Employee benefit obligations at beginning of the period 18,330,893.03 10,916,987.03 Actuarial loss on defined employee benefit plan - In profit or loss - - - In other comprehensive income - 2,410,283.00 Past service costs and interest - Change a considered a post employment plan amendment - 3,245,433.00 Current service cost and interest cost during the period 1,812,738.77 2,073,390.00 Benefit paid by the plan during the plan (201,500.00) (315,200.00) Employee benefit obligations at ending of the period 19,942,131.80 18,330,893.03 Expenses which are recognized in the statement of comprehensive income Baht Consolidated financial statements/ Separate financial statements For the three-month period ended September 30, For the nine-month period ended September 30, 2020 2019 2020 2019 Past service costs and interest - - - 3,245,433.00 Current service cost Cost of sales 259,690.75 211,897.00 779,072.25 635,691.00 Selling expenses 41,806.25 33,760.25 125,418.75 101,280.75 Administrative expense 288,580.25 272,690.28 908,247.77 818,070.84 590,077.25 518,347.53 1,812,738.77 4,800,475.59 23. APPROPRIATION OF RETAINED EARNINGS According to the Board of Directors’ Meeting No. 2/2020 held on April 17, 2020, the Board approved to pay interim dividend from the operating results for the year ended December 31, 2019 to the shareholders of 280,000,000 shares at Baht 0.20 per share in the amount of Baht 56 million. The dividend was paid on May 15, 2020. According to the 2019 Annual General Meeting of Shareholders on April 9, 2019, the shareholders approved the payment of dividends from the operating results for the year ended December 31, 2018 to the shareholders of 1,000,000 shares at Baht 20 per share in the amount of Baht 20 million. The Company paid the dividend on April 25, 2019. According to the Board of Directors’ Meeting No. 3/2019 held on June 13, 2019, the Board approved to pay interim dividend from the operating results for the year ended December 31, 2018 to the shareholders of 1,000,000 shares at Baht 25 per share in the amount of Baht 25 million. The dividend was paid on July 5, 2019.
EMPLOYEE BENEFIT OBLIGATIONS. Movement of employee benefit obligations for the six-month period ended June 30, 2017 is shown as follows : The statements of financial position In Thousand Baht Consolidated Financial Statements Separate Financial Statements Employee benefit obligations, at the beginning of the period 39,885 38,740 Plus Current service costs and interest cost 2,596 2,495 Less Actual paid of employee benefit obligations - - Employee benefit obligations, at the end of the period 42,481 41,235 The statements of comprehensive income In Thousand Baht Consolidated Financial Statements Separate Financial Statements For the three-month periods ended June 30, For the three-month periods ended June 30, Recognized in profit or loss 0000 0000 0000 0000 Current service costs 1,001 914 960 870 Interest on obligation 000 000 000 255 Total 1,298 1,175 1,248 1,125 Current service costs Cost of service 30 35 - - Selling expenses 310 276 310 276 Administrative expenses 363 274 352 265 Management benefit expenses 298 329 298 329 Finance costs 000 000 000 255 Total 1,298 1,175 1,248 1,125 Recognized in other comprehensive income Loss estimation over actuarial principles - - - - Total - - - - Total 1,298 1,175 1,248 1,125 In Thousand Baht Consolidated Financial Statements Separate Financial Statements For the six-month periods ended June 30, For the six-month periods ended June 30, 0000 0000 0000 0000 Current service costs 2,003 1,827 1,920 1,738 Interest on obligation 593 523 575 509 Total 2,596 2,350 2,495 2,247 Current service costs Cost of service 61 71 - - Selling expenses 620 566 620 566 Administrative expenses 000 000 000 618 Management benefit expenses 596 554 596 554 Finance costs 593 523 575 509 Total 2,596 2,350 2,495 2,247 Recognized in other comprehensive income Loss estimation over actuarial principles - 331 - 325 Total - 331 - 325 Total 2,596 2,681 2,495 2,572
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EMPLOYEE BENEFIT OBLIGATIONS. The statements of financial position Baht As at March As at December 31, 2011 Beginning balance, defined benefit obligations 1,756,543 1,005,443 Current service costs and interest 224,197 751,100 Ending balance, defined benefit obligations 1,700,740 1,756,543 Benefits paid by the plan (280,000) - (Less) Current portion due within one year (142,749) (420,524) Net 1,557,991 1,336,019 The statements of comprehensive income Cost of sales 59,200 82,969 Selling expenses 3,576 1,528 Administrative expenses 10,372 35,581 Current service costs Baht For the three-month periods ended March 31, 2012 2011 Directors and management benefit expenses 140,629 59,855 Total 213,777 179,933 Interest on obligation 10,420 7,842 Total 224,197 187,775 Principal actuarial assumptions at the reporting date Percentage For the three-month periods ended March Discount rate 3.1199 Salary increase rate 4 Employee turnover rate 49 Mortality rate - 31, 2012 and 2011
EMPLOYEE BENEFIT OBLIGATIONS. The statements of financial position Baht Consolidated financial statements Separate financial statements 2014 2013 2014 2013 Beginning balance 70,763,656.44 60,876,454.21 64,927,423.57 56,000,326.21 Benefits paid by the plan during the year (4,144,656.00) (4,427,447.75) (4,144,656.00) (4,346,977.68) Current service costs and interest during the year 5,852,949.01 6,493,798.82 5,196,540.01 5,453,223.88 Acturial (gains) losses (1,836,952.00) 7,820,851.16 (1,470,157.00) 7,820,851.16 Ending balance 70,634,997.45 70,763,656.44 64,509,150.58 64,927,423.57 Expense recognized in the statements of comprehensive income: Baht Consolidated financial statements Separate financial statements 2014 2013 2014 2013 Current service costs Cost of sales 1,703,171.00 2,234,522.33 1,455,944.01 1,662,478.00 Selling expense 82,356.00 91,170.00 82,356.00 91,170.00 Administrative expenses 1,230,207.00 1,343,161.88 1,057,693.00 1,096,307.00 Interest on obligation 2,837,215.01 2,824,944.61 2,600,547.00 2,603,268.88 Total 5,852,949.01 6,493,798.82 5,196,540.01 5,453,223.88 Principal actuarial assumptions at the reporting date 2014 2013 Percentage Percentage Consolidated financial statements Separate financial statements Consolidated financial statements Separate financial statements Discount rate 4.00 4.00 4.00 4.00 Salary increase rate 5.11 - 5.65 5.11 5.75 - 6.00 5.75 Employee turnover rate 0.50 - 5.00 5.00 1.00 - 5.00 5.00 Disability rate 15.00 of mortality rate 15.00 of mortality rate 15.00 of mortality rate 15.00 of mortality rate Mortality rate 100.00 of Thai mortality table 2008 100.00 of Thai mortality table 2008 100.00 of Thai mortality table 2008 100.00 of Thai mortality table 2008
EMPLOYEE BENEFIT OBLIGATIONS. 13.1 Movements of the employee benefit obligations account for the nine-month periods ended September 30, 2019 and 2018 are as follows:- In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September 30, 2019 (For the nine- month) As at December 31, 2018 (For the year) As at September 30, 2019 (For the nine- month) As at December 31, 2018 (For the year) The statements of financial position Employee benefit obligations, beginning 56,769 50,546 24,002 21,081 Gain estimation over actuarial principles (848) - (222) - Past service cost and interest - Change a considered a post employment plan amendment 16,562 - 7,218 - - Amendment in other long-term employee benefit 10,446 - 5,279 - Employee benefit obligations paid 8,524 6,223 3,717 2,921 Employee benefit obligations, ending 91,453 56,769 39,994 24,002
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