Page 141 - Microsoft Word - One-Report-Eng 2024 Final.docx

Tycoons Worldwide Group (Thailand) Plc.

18. Provision for long-term employee benefits

Provision for long- term employee benefits, which represents compensation payable to
employees after they retire, was as follows.

(Unit: Thousand Baht)
Consolidated Separate

financial statements financial statements
2024 2023 2024 2023

Provision for long-term employee benefits at
beginning of year 56,896 52,702 56,896 52,702

Included in profit or loss:
Current service cost 4,938 3,594 3,640 3,594
Interest cost 1,540 1,442 1,540 1,442
Included in other comprehensive income:

Actuarial gain arising from
Financial assumptions changes (3,122) - (3,122) -

Experience adjustments (1,587) - (1,587) -
Benefits paid during the year (307) (842) (307) (842)
Provision for long-term employee benefits at

end of year 58,358 56,896 57,060 56,896

The Group expects to pay Baht 5.2 million of long-term employee benefits during the next year
(2023: Baht 0.3 million) (the Company only: Baht 5.2 million (2023: Baht 0.3 million)).

As at 31 December 2024, the weighted average duration of the liabilities for long- term
employee benefit is approximately 10 years (2023: 11 years) (the Company only: 10 years (2023:

11 years)).
Significant actuarial assumptions are summarised below.

(Unit: percent per annum)
Consolidated Separate
financial statements financial statements

2024 2023 2024 2023
Discount rate 2.5 - 2.8 2.8 2.5 2.8

Salary increase rate 2.2 - 4.0 3.0 - 4.5 2.5 - 4.0 3.0 - 4.5
Staff turnover rate 0.0 - 50.0 0.0 - 50.0 0.0 - 50.0 0.0 - 50.0

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