Annual Report 2025

236 Transport International Holdings Limited 2025 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 21 Employee retirement benefits (continued) (c) Movements in the present value of the defined benefit obligations: 2025 2024 $’000 $’000 At 1 January 815,946 995,791 Remeasurements: – Actuarial (gains)/losses arising from changes in demographic assumptions (6) 80 – Actuarial losses/(gains) arising from changes in financial assumptions 30,860 (64,034) – Actuarial gains arising from liability experience (1,744) (21,347) 29,110 (85,301) Benefits paid by the plans (124,393) (154,029) Current service cost 24,966 31,325 Interest cost 27,684 28,160 (71,743) (94,544) At 31 December 773,313 815,946 The weighted average duration of the Monthly Rated and Daily Rated defined benefit obligations are 5.7 and 4.3 years respectively (2024: 6.0 and 4.5 years respectively). (d) Movements in plan assets: 2025 2024 $’000 $’000 At 1 January 2,571,703 2,605,064 Administrative expenses paid (3,431) (2,904) Benefits paid by the plans (124,393) (154,029) Interest income 89,677 75,315 Return on plan assets, excluding interest income 350,048 48,257 At 31 December 2,883,604 2,571,703