Defined Benefit Obligation

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Defined Benefit Obligation

20 DEFINED BENEFIT OBLIGATION

A subsidiary in the Philippines is a participant in an unfunded, non-contributory defined benefit multi-employer retirement plan. The subsidiary provides for a defined benefit plan for all qualifying employees. The normal retirement shall accrue to the employee upon reaching retirement age of 60 with at least 5 years of credited service. All employees may retire early with the consent of the subsidiary upon reaching the age of 50 and having completed at least 10 years of credited service.

A subsidiary in Thailand has obligations in respect of the severance payments they must make to employees upon retirement under labour law. The subsidiary treats these severance payment obligations as a defined benefit plan.