MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 32 DEFERREDTAX LIABILITIES/(ASSETS) (CONTINUED) The amount of unused tax losses and deductible temporary differences (subject to approval by the Inland Revenue) for which no deferred tax assets are recognised in the statement of financial position of the Group as the Directors are of the view it is not probable that sufficient taxable profits will be available to allow the deferred tax assets to be utilized is as follows: Continuing operations Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Unused tax losses 197,634 - - - Deductible temporary differences 14,629 - - - 212,263 - - - Discontinuing operation Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Unused tax losses 8,690 - - - Under the Malaysia Finance Act 2018 which was gazetted on 27 December 2018, unutilised tax losses will be imposed with a limit of utilisation for 7 consecutive years. 33 PAYABLES Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Non-current liabilities: Other payables - 32 - 32 Current liabilities: Trade payables 17,132 158,718 - - Other payables 65,170 75,797 552 684 Accruals 45,660 21,208 1,603 2,094 Unpaid balance for acquisition of property, plant and equipment (Note 36) 1,495 6,425 - - GST payables 512 - - - 129,969 262,148 2,155 2,778 Total payables 129,969 262,180 2,155 2,810 Trade payables carry credit periods between 30 to 60 days (2018: 30 to 60 days). The fair value of the payables, excluding GST payables, approximate their carrying value, as the impact of discounting is not significant. 201 FINANCIAL STATEMENTS 08

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