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enricHing national Progress  ENRICHING SUSTAINABLE RETURNS

          notes to tHe financial statements

          for the year ended 31 december 2023



          33.  EMPLOYEE BENEFiTS (CONTiNUED)
             (d)  the principal actuarial assumptions employed were as follows:

                                                                                       Group and KWAP
                                                                                  31 December   31 December
                                                                                         2023         2022


                Discount Rate (%)                                                        4.7%         4.6%
                Medical Cost inflation (%)
                   general practitioner (gp)                                             3.0%         3.0%
                   hospitalization (hp)                                                  3.0%         3.0%
                   specialist (sp)                                                       3.0%         3.0%
                   dialysis (dl)                                                         0.0%         0.0%

                the  provision  of  post-employment  medical  benefits  is  based  on  the  net  present  Value  (“npV”),  representing
                the present value of the estimated future cash outflows required to settle the post-retirement medical benefit
                obligations. the npV amount is discounted at the expected money market rate of 4.70% (2022: 4.60%), on the
                basis that the underlying instrument is naturally considered to be conservative and liquid for the group and KWap.

             (e)  the sensitivity analysis below are determined based on a method that extrapolates the occurrence of reasonable
                changes in the key assumptions in the same statement of financial position whereby all other assumptions remain
                constant:

                                                                            Group and KWAP
                                                              31 December 2023           31 December 2022
                                                                   RM’000                    RM’000
                                                            increase    Decrease      increase    Decrease


                discount rate (1 % movement)                  (1,048)       1,380         (950)       1,258
                medical inflation rate (1% movement)             96          (222)        118         (288)

                                                                (952)       1,158         (832)        970




















          212  KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INTEGRATED REPORT 2023
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