Annual Report 2025

213 2025 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 4 Other net income 2025 2024 $’000 $’000 Dividend income from equity investments 75,179 81,541 Interest income on financial assets measured at FVOCI (recycling) 21,784 25,603 Interest income on financial assets measured at amortised cost 48,884 61,121 Net foreign exchange gain/(loss) 1,032 (6,482) Net loss on derecognition of financial assets measured at FVOCI (recycling) (note 9) (14) (3,098) Expected credit loss on other financial assets (note 20(ii)) (86,500) (171,000) 60,365 (12,315) Claims received 15,210 24,116 Net miscellaneous business receipts 12,056 12,885 Net gain on disposal of other property, plant and equipment 1,451 4,162 Government subsidies 1,120 15,744 Sundry income 45,556 67,807 135,758 112,399 5 Profit before taxation Profit before taxation is arrived at after charging/(crediting): 2025 2024 $’000 $’000 (a) Staff costs Contributions to defined contribution retirement plans 187,778 185,469 (Income)/expenses recognised in respect of defined benefit plans: – Employee benefit assets (note 21(e)) (33,596) (12,926) – Long service payments (note 30) 14,796 11,543 Total retirement cost 168,978 184,086 Equity-settled share-based payment expenses 741 3,454 Salaries, wages and other benefits 4,425,737 4,244,209 4,595,456 4,431,749 Less: staff costs included in cost of mask production – (778) 4,595,456 4,430,971 2025 2024 $’000 $’000 (b) Finance costs Interest on bank loans 112,795 222,772 Interest on lease liabilities (note 24(d)) 340 317 Total interest expenses on financial liabilities not measured at FVPL 113,135 223,089 Less: interest expense capitalised* (51,814) (124,746) 61,321 98,343 * The borrowing costs have been capitalised at the average interest rate of 3.13% per annum (2024: 4.92% per annum).