15 EMPLOYEE BENEFITS Liability for long-term incentive plan Group Company 2023 2022 2023 2022 $’000 $’000 $’000 $’000 At beginning of the year 930 703 685 512 Additions 3,418 238 1,028 173 Reversal (1,305) – (1,305) – Translation differences 27 (11) – – At end of the year 3,070 930 408 685 Non-current 2,194 930 408 685 Current 876 – – – 3,070 930 408 685 The liability for long-term incentive plan estimated by the Group and the Company is made based on the best estimate of the expected cash settlement in accordance with the contract terms of the said plan and achievement of the key performance indicators at the end of each reporting date. For details on related employee benefit expenses, see note 24. 16 DEFERRED TAX LIABILITIES Recognised deferred tax liabilities Movements in deferred tax liabilities during the year are as follows: Balance as at 1/1/2022 Recognised in profit or loss (note 23) Disposal of a subsidiary Translation differences Balance as at 31/12/2022 $’000 $’000 $’000 $’000 $’000 Group Investment properties 213,597 4,852 – (19,989) 198,460 Balance as at 1/1/2023 Recognised in profit or loss (note 23) Disposal of a subsidiary Translation differences Balance as at 31/12/2023 $’000 $’000 $’000 $’000 $’000 Group Investment properties 198,460 (8) (227) (2,914) 195,311 Notes to the Financial Statements Year ended 31 December 2023 194 PERENNIAL HOLDINGS PRIVATE LIMITED
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