Annual Report 2025

248 Transport International Holdings Limited 2025 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 30 Provision for long service payments (continued) The present value of LSP liability and its movements are as follows: 2025 2024 $’000 $’000 At 1 January 97,308 80,492 Payments made during the year (11,237) (7,411) 86,071 73,081 Actuarial (gains)/losses arising from changes in demographic assumptions (35) 52 Actuarial losses arising from changes in financial assumptions 4,306 8,040 Actuarial (gains)/losses arising from experience adjustments (13,335) 4,592 Total amounts recognised in other comprehensive income (9,064) 12,684 Current service cost 11,446 9,205 Interest cost 3,350 2,338 Total amounts recognised in profit or loss (note 5(a)) 14,796 11,543 At 31 December 91,803 97,308 The weighted average duration of the defined benefit obligations is 8.0 years (2024: 7.3 years). Amounts recognised in the consolidated statement of profit or loss and other comprehensive income as follows: 2025 2024 $’000 $’000 Staff costs 14,796 11,543 Actuarial (gains)/losses recognised in other comprehensive income (9,064) 12,684 Significant actuarial assumptions and sensitivity analysis are as follows: 2025 2024 Discount rate 3.0% 3.6% Future salary increases 3.0% 3.0% The below analysis shows how the LSP liability would have (decreased)/increased as a result of 0.5 percentage point change in the significant actuarial assumptions: 2025 2024 Increase in 0.5 percentage point Decrease in 0.5 percentage point Increase in 0.5 percentage point Decrease in 0.5 percentage point $’000 $’000 $’000 $’000 Discount rate (3,472) 3,693 (3,391) 3,618 Future salary increases (4,184) 4,269 (3,773) 3,809 The above sensitivity analysis is based on the assumption that changes in actuarial assumptions are not correlated and therefore it does not take into account the correlations between the actuarial assumptions.