23 PENSION OBLIGATIONS CONTINUED¡
(a) Defined benefit plans (Continued)
The sensitivity of the defined benefit obligation to changes in the significant principal assumptions is:
Impact on defined benefit obligation
Change in
Increase in
Decrease in
assumption
assumption
assumption
Discount rate
0.25%
Decrease by 1.9%
Increase by 2.0%
Salary increase
0.25%
Increase by 0.6%
Decrease by 0.5%
The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In
practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity
of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit
obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when
calculating the pension liability recognised within the statement of financial position. The methods and types of assumptions
used in preparing the sensitivity analysis did not change compared to previous year.
Expected contributions to the defined benefit plans for the year ending 31 December 2016 are HK$39,029,000.
The weighted average duration of the defined benefit obligation is 7.9 years as at 31 December 2015 (2014: 8.2 years).
(b) Defined contribution plans
The Group’s cost in respect of defined contribution plans for the year amounted to HK$69,464,000 (2014: HK$67,938,000).
24 OTHER NONCURRENT LIABILITIES
Group
2015
2014
HK$’000
HK$’000
Fair value hedges
Interest rate swaps
38,784
-
Others
18,079
19,651
56,863
19,651
25 UNITS IN ISSUE
Group and Trust
Number of
units
HK$’000
At 1 January 2014, 31 December 2014 and 31 December 2015
8,711,101,022
68,553,839
All issued units are fully paid and rank pari passu in all respects.
Notes to the
Financial Statements
107
ANNUAL REPORT 2015
HUTCHISON PORT HOLDINGS TRUST
