HUTCHISON PORT HOLDINGS TRUST 156 NOTES TO THE FINANCIAL STATEMENTS 3 Critical accounting estimates and judgements (Continued) (f) Pension (Continued) Management appointed actuaries to carry out a full valuation of these pension plans to determine the pension assets/obligations that are required to be disclosed and accounted for in the fi nancial statements in accordance with the HKFRS requirements. The actuaries use assumptions and estimates in determining the fair value of the defi ned benefi t plans and evaluate and update these assumptions on an annual basis. Judgements are required to determine the principal actuarial assumptions to determine the present value of defi ned benefi t obligations and service costs. Changes to the principal actuarial assumptions can signifi cantly aff ect the present value of plan obligations and service costs in future periods. (g) Tax The Group is subject to income taxes in diff erent jurisdictions. Significant judgements are required in determining the provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is diff erent from the amounts that were previously recorded, such diff erences will impact the income tax and deferred tax provisions in the period in which such determination is made. Deferred tax is provided in full, using the liability method, on temporary diff erences arising between the tax bases of assets and liabilities and their carrying values in the fi nancial statements. Deferred tax assets are recognised for unused tax losses carried forward to the extent it is probable that future taxable profi ts will be available against which the unused tax losses can be utilised, based on all available evidence. Recognition primarily involves judgements regarding the future fi nancial performance of the particular legal entity or tax group in which the deferred tax asset has been recognised. A variety of other factors are also evaluated in considering whether there is convincing evidence that it is probable that some portion or all of the deferred tax assets will ultimately be realised, such as the existence of taxable temporary diff erences, group relief, tax planning strategies and the periods in which estimated tax losses can be utilised. The carrying amount of deferred tax assets and related fi nancial models and budgets are reviewed at the end of the reporting period and to the extent that there is insuffi cient convincing evidence that suffi cient taxable profi ts will be available within the utilisation periods to allow utilisation of the carry forward tax losses, the asset balance will be reduced and charged to the income statement. 4 Revenue and other income and segment information (a) Revenue and other income 2025 2024 HK$’000 HK$’000 Revenue Rendering of port and related services 11,350,549 10,917,859 Rendering of transportation and logistics solutions 209,562 257,543 Management and service fee income 37,487 38,799 System development and support fees 7,292 7,142 Others 5,114 1,747 11,610,004 11,223,090 Other income Interest income 252,989 344,179 11,862,993 11,567,269
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