Annual Report 2023

260 2023 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 30 Provision for long service payments (continued) 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: 2023 2022 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 rates (2,738) 2,919 (2,192) 2,337 Future salary increases (3,434) 3,593 (2,916) 3,017 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. 31 Capital and reserves (a) Movements in components of equity The reconciliation between the opening and closing balances of each component of the Group’s consolidated equity is set out in the consolidated statement of changes in equity. Details of the changes in the Company’s individual components of equity between the beginning and the end of the year are set out below: Share capital Share premium Capital reserve Contributed surplus Retained profits Total equity Note $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 January 2022 465,469 1,212,314 4,709 1,300,000 1,002,842 3,985,334 Changes in equity for 2022: Shares issued in respect of scrip dividend – 2021 final dividend 31(b) 9,471 106,355 – – – 115,826 Forfeiture of share options – – (227) – 227 – Equity-settled share-based transaction 5(a) – – 1,194 – – 1,194 Dividends approved in respect of the previous year 11(b) – – – – (232,735) (232,735) Profit and total comprehensive income for the year – – – – 230,003 230,003 Balance at 31 December 2022 474,940 1,318,669 5,676 1,300,000 1,000,337 4,099,622