Annual Report 2020

2020 Annual Report Transport International Holdings Limited 161 Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 (Expressed in Hong Kong dollars) 2020 2019 Note $’ 000 $’ 000 Profit for the year 1,904,114 605,311 Other comprehensive income for the year (after tax and reclassification adjustments): Items that will not be reclassified to profit or loss: Remeasurements of net defined benefit asset, net of tax expense of $72,295,000 (2019: tax expense of $74,709,000) 365,857 378,074 Equity investment at fair value through other comprehensive income: net movement in fair value reserve (non-recycling), net of nil tax 32(f) 1,649 3,907 Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of financial statements of entities outside Hong Kong, net of nil tax 39,151 (10,705) Investments in debt securities: net movement in fair value reserve (recycling), net of nil tax 9 9,409 38,198 Share of other comprehensive income of an associate, net of nil tax 43,050 11,707 Other comprehensive income for the year 459,116 421,181 Total comprehensive income for the year 2,363,230 1,026,492 The notes on pages 167 to 239 form part of these financial statements.