Annual Report 2025

235 2025 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 21 Employee retirement benefits (continued) The plans expose the Group to actuarial risks, such as interest rate risk, investment risk and longevity risk. Since the two retirement schemes have similar risks and features, information about the two plans is aggregated and disclosed below: (a) The amount recognised in the consolidated statement of financial position is as follows: 2025 2024 $’000 $’000 Present value of funded obligations (note 21(c)) (773,313) (815,946) Fair value of plan assets (notes 21(b) and 21(d)) 2,883,604 2,571,703 2,110,291 1,755,757 Represented by: Employee benefit assets 2,110,291 1,755,757 A portion of the above asset is expected to be recovered after more than one year. However, it is not practicable to segregate this amount from the amounts recoverable in the next twelve months, as future refund will also relate to future services rendered and future changes in actuarial assumptions and market conditions. The expected annual contribution to defined benefit retirement schemes for the year ending 31 December 2026 is $Nil (2025: $Nil). (b) Plan assets consist of the following: 2025 2024 $’000 $’000 Equity securities: – Hong Kong and Chinese Mainland 461,376 411,805 – Rest of Asia Pacific 451,848 377,293 – Europe 259,524 180,020 – North America 412,979 436,856 1,585,727 1,405,974 Exchange-traded fund 19,308 – Bonds 1,259,515 1,123,089 Cash and others 19,054 42,640 2,883,604 2,571,703 All of the equity securities, exchange-traded fund and bonds have quoted prices in active markets.