Page 141 - RFHL ANNUAL REPORT 2024_ONLINE
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9. Intangible assets (continued)
b Other intangible assets with definite useful life (continued)
Trade name intangibles acquired through business combinations in 2019 have been determined to have a life of 5 years
from acquisition date and therefore was fully amortised in the current financial year.
Customer base intangibles acquired through business combinations in 2020 have been determined to have a life of 6.2
years from acquisition date.
10. Employee benefits
The Group has defined benefit pension plans and also funds post-employment healthcare benefits to employees. The Group’s
defined benefits plans are the final salary plans for employees, which requires contributions to be made to a separately
administered fund.
a The amounts recognised in the Consolidated statement of financial position are as follows:
Defined benefit pension plans
Pension assets Pension liability
2024 2023 2024 2023
Present value of defined benefit obligation (3,830) (3,668) – (6)
Fair value of plan assets 4,787 4,627 – 6
Surplus 957 959 – –
Effect of asset ceiling (12) (13) – –
Net asset recognised in the Consolidated statement
of financial position 945 946 – –
Post-retirement
medical benefits
2024 2023
Present value of defined benefit obligation (33) (41)
Fair value of plan assets – –
Net liability recognised in the Consolidated statement
of financial position (33) (41)
