MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 32 DEFERREDTAX LIABILITIES/(ASSETS) Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statement of financial position: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Deferred tax liabilities - Subject to income tax 43,891 83,384 (69) (143) - Subject to RPGT 7,171 - - - 51,062 83,384 (69) (143) The analysis of deferred tax assets and deferred tax liabilities is as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 (Restated) (Restated) Deferred tax liabilities/(assets): - Deferred tax liabilities to be recovered after more than 12 months 24,635 34,463 77 51 - Deferred tax liabilities to be recovered within 12 months 26,427 48,921 (146) (194) Deferred tax liabilities/(assets) (net) 51,062 83,384 (69) (143) At 1 January, as previously stated 83,458 78,675 (143) 403 Effect of adoption of MFRS 16 (Note 41) (74) (68) - - At 1 January, as restated 83,384 78,607 (143) 403 Charged/(credited) to profit or loss (Notes 14 and 16): - property, plant and equipment (50,625) 5,972 26 51 - asset held for sale 7,171 - - - - payables and accruals 2,265 278 48 656 - intangible assets 5,821 (291) - (1,120) - receivables 535 38 - (133) - accrued interest (163) - - - - unabsorbed business loss 2,782 (1,214) - - - right-of-use assets (130) 51 - - - derivatives financial assets (101) - - - - lease liabilities 123 (57) - - (Credited)/charged to profit and loss (32,322) 4,777 74 (546) At 31 December 51,062 83,384 (69) (143) 199 FINANCIAL STATEMENTS 08