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FINANCIAL REPORTS
162
Bursa Malaysia •
Annual Report 2015
NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2015
26. Other reserves (cont’d.)
(d) Clearing fund reserves (cont’d.)
(i) CGF reserve
The CGF reserve is an amount set aside following the implementation of the CGF. The quantum of the CGF was set at RM100,000,000 and
may increase by the quantum of interest arising from investments of the fixed contributions from TCPs. The CGF comprises contributions
from TCPs and appropriation from Bursa Malaysia Securities Clearing resources, and other financial resources. The CGF composition is
disclosed in Note 23(i).
(ii) DCF reserve
Pursuant to the Rules of Bursa Malaysia Derivatives Clearing, Bursa Malaysia Derivatives Clearing set up a DCF for derivatives clearing and
settlement. The DCF comprises contributions from CPs and appropriation of certain amounts from Bursa Malaysia Derivatives Clearing’s
retained earnings. The DCF composition is disclosed in Note 23.
(e) AFS reserve
AFS reserve represents the cumulative fair value changes, net of tax, of AFS financial assets until they are disposed or impaired.
27. Retained earnings
The Company is able to distribute dividends out of its entire retained earnings under the single-tier system.
28. Employee benefits
(a) Retirement benefit obligations
Contributions to the Scheme are made to a separately administered fund. Under the Scheme, eligible employees are entitled to a lump sum, upon
leaving service, calculated based on the multiplication of two times the Final Scheme Salary, Pensionable Service and a variable factor based on
service years, less EPF offset.
The amounts recognised in the statements of financial position were determined as follows:
Group and Company
2015
2014
RM’000
RM’000
Present value of funded defined benefit obligations
26,959
27,943
Fair value of plan assets
(847)
(1,338)
Net liability arising from defined benefit obligations
26,112
26,605