289 O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT (Unit: Baht Thousand) (Unit: Baht Thousand) (Unit: % p.a.) Consolidated financial statements Compensations on employees’ retirement Other long-term employee benefits Total 2022 2021 2022 2021 2022 2021 Included in other comprehensive income: Actuarial (gain) loss arising from - Demographic assumptions change 70,604 10,687 - 3,697 70,604 14,384 - Financial assumptions changes (111,289) (111,289) - (2,869) (2,869) (71,898) - Experience adjustments (115,849) (105,279) - (44,391) (115,849) (149,670) Benefits paid/ transfer to accrued expenses during the year (10,142) (17,738) - - 10,142) (17,738) Provision for long-term employee 603,267 655,934 129,527 126,505 732,794 782,439 benefits at end of year Consolidated financial statements 2022 2021 Increase 1% Decrease 1% Increase 1% Decrease 1% Discount rate (71,202) 84,969 (81,974) 98,313 Salary increase rate 80,848 (68,609) 89,370 (75,741) Turnover rate (76,218) 66,612 (87,683) 74,057 Consolidated financial statements 2022 2021 Discount rate 2.84 2.18 Salary increase rate 4.00 4.00 Turnover rate 0.00 - 7.00 0.00 - 7.00 The subsidiary expects to pay Baht 46 million (2021: Baht 26 million) of long-term employee benefits during the next year. As at 31 December 2022, the weighted average duration of the liabilities for long-term employee benefit is 13 years (2021: 13 years). The results of sensitivity analysis for significant assumptions that affect the present value of the long-term employee benefit obligation as at 31 December 2022 and 2021 are summarised below: 24.Share capital On 15 August 2021, the Board of Directors’ Meeting of the Company No. 6/2021 passed a resolution to increase the registered capital from Baht 485 million to Baht 1,285 million, through the issuance of 8,000,000,000 ordinary shares with a par value of Baht 0.1 each, total amounting to Baht 800 million. The company has received 5,028,571,429 shares in amounting to Baht 8,800 million. The share capital increase of the Company was registered with the Ministry of Commerce on 15 December 2021. The difference between fair value and par value of Baht 8,297 million was presented as share premium in the financial statements. Significant actuarial assumptions are summarised below.
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