Annual Report 2024

241 2024 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 21 Employee retirement benefits (continued) (e) Amounts recognised in the consolidated statement of profit or loss and other comprehensive income are as follows: 2024 2023 $’000 $’000 Current service cost 31,325 34,213 Net interest income on net defined benefit assets (47,155) (55,476) Administrative expenses paid 2,904 3,174 Total amounts recognised in profit or loss (note 5(a)) (12,926) (18,089) Actuarial (gains)/losses (85,301) 31,535 Return on plan assets, excluding interest income (48,257) (81,728) Total amounts recognised in other comprehensive income (133,558) (50,193) Total defined benefit income (146,484) (68,282) (f) Significant actuarial assumptions and sensitivity analysis are as follows: 2024 2023 Discount rate – Monthly Rated Employees Scheme 3.6% 3.0% – Daily Rated Employees Scheme 3.5% 2.9% Future salary increases 3.0% 4.0% The below analysis shows how the defined benefit obligations would have (decreased)/increased as a result of a 0.25 percentage point change in the significant actuarial assumptions: 2024 2023 Increase in 0.25 percentage point Decrease in 0.25 percentage point Increase in 0.25 percentage point Decrease in 0.25 percentage point $’000 $’000 $’000 $’000 Discount rate (10,025) 10,251 (13,577) 13,908 Future salary increases 9,071 (8,916) 12,252 (12,027) 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.