Chemical Company of Malaysia Berhad Annual Report 2018

Notes to the Financial Statements 9. DEFERRED TAX (ASSETS)/LIABILITIES Recognised deferred tax (assets)/liabilities Deferred tax assets and liabilities are attributable to the following: Assets Liabilities Net 2018 2017 2018 2017 2018 2017 Group Property, plant and equipment – – 15,206 21,157 15,206 21,157 Investment properties – – 4,344 5,983 4,344 5,983 Provisions (3,708) (2,723) – – (3,708) (2,723) Other deductible temporary differences (930) (2,247) 102 123 (828) (2,124) Tax losses/tax incentives  carry-forwards (1,156) (1,173) – 603 (1,156) (570) Tax (assets)/liabilities (5,794) (6,143) 19,652 27,866 13,858 21,723 Set off of tax 4,436 3,822 (4,436) (3,822) – – Net tax (assets)/liabilities (1,358) (2,321) 15,216 24,044 13,858 21,723 Company Property, plant and equipment – – 2,274 2,901 2,274 2,901 Investment properties – – 4,344 12,391 4,344 12,391 Other deductible temporary differences (491) (505) 79 – (412) (505) Tax (assets)/liabilities (491) (505) 6,697 15,292 6,206 14,787 Set off of tax 491 505 (491) (505) – – Net tax liabilities – – 6,206 14,787 6,206 14,787 Unrecognised deferred tax assets Deferred tax assets have not been recognised in respect of the following items: Group 2018 2017 Tax losses carry-forwards (86,477) (91,492) Other deductible temporary differences (11,972) (6,760) (98,449) (98,252) The deductible temporary differences do not expire under current tax legislation. Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profit will be available against which the Group can utilise the benefits there from. 150 ANNUAL REPORT 2018