2018 UEM Edgenta Annual Report

7. PROFIT BEFORE TAX (CONT’D.) The following amounts have been charged/(credited) in arriving at profit before tax: (cont’d.) Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Property, plant and equipment written off (Note 13) 9 2,216 – – Impairment on land held for property development (Note 14) – 638 – – Impairment on trade and other receivables (Note 21) 9,935 15,499 – – - continuing operations 9,935 6,653 – – - discontinued operation – 8,846 – – Reversal of impairment on trade and other receivables (Note 21) (2,714) (10,218) – – - continuing operations (2,714) (4,140) – – - discontinued operation – (6,078) – – Bad debts written off – 3,028 – – - continuing operations – – – – - discontinued operation – 3,028 – – Impairment loss on investment in subsidiary (Note 17(a)) – – 129,000 111,857 Net foreign exchange loss: - realised 32 2,141 – – - unrealised 24 1,739 – – Fair value loss/(gain) on derivative financial instruments – 4,228 – 4,459 - continuing operations – 4,459 – 4,459 - discontinued operation – (231) – – 8. EMPLOYEE BENEFITS EXPENSE Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Wages and salaries 531,874 1,175,759 34,415 31,104 Contributions to statutory Employees Provident Fund (“EPF”) 54,174 97,478 4,930 4,400 Social security contributions 2,951 2,675 324 246 Defined retirement benefit obligations (Note 26) 273 273 – – Decrease in liability for defined benefit pension plan (Note 27) (29) (1,252) – – Employees’ service entitlements (Note 28(a)) 532 2,257 – – Other benefits 161,567 141,895 15,002 9,023 Total employee benefits recognised in profit or loss (Note 7) 751,342 1,419,085 54,671 44,773 Included in employee benefits expense of the Group and of the Company are executive directors’ remuneration excluding benefits-in-kind amounting to RM1.3 million (2017: RM1.9 million) as further disclosed in Note 9. NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2018 Management Discussion & Analysis UEM Edgenta Berhad Annual Report 2018 About UEM Edgenta Chairman’s Statement 188