2017E — Page 131

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

NET EMPLOYEE RETIREMENT BENEFITS LIABILITIES (Continued)

(a) Defined benefit retirement plan contine (1)

(iii) Movements in the present value of the defined benefit obligations:

2017

HK$'000

2016

HK$'000

At 1 January

35,312

41,039

Remeasurements:

- Actuarial loss/(gain) arising from changes in financial

assumptions

273

(767)

- Actuarial gain arising from changes in experience

(63)

(196)

- Actuarial (gain)/loss arising from change in demographic

assumptions

(3)

16

207

(947)

Current service cost

Interest cost

Benefits paid by the plan

Curtailments

Settlement

At 31 December

(iv)

Movements in plan assets:

1,160

1,331

633

552

(203)

(4,647)

(63)

(1,953)

37,109

35,312

2017

HK$'000

2016

HK$'000

At 1 January

30,844

36,709

Interest income

559

493

Return greater/(less) than discount rate

2,332

(298)

Benefits paid by the plan

(203)

(4,647)

Administrative expenses paid

(112)

(117)

Contributions paid to the plan

Settlement

665

657

(1,953)

At 31 December

34,085

30,844

129

Hong Kong Ferry (Holdings) Company Limited

Annual Report 2017