GHL System Berhad Annual Report 2020

132 G H L S y s t e m S B e r h a d 1 9 9 4 0 1 0 0 7 3 6 1 ( 2 9 3 0 4 0 - D ) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 CONT’D 17. INVESTMENTS IN JOINT VENTURES AND AN ASSOCIATE (cont’d) (h) The reconciliation of movement in the impairment loss are as follow: Group 2020 2019 RM RM Investment in associate At 1 January 397,700 397,700 Charge for the financial year 317,756 - At 31 December 715,456 397,700 18. DEFERRED TAX (a) The deferred tax assets and liabilities are made up of the following: Group Company 2020 2019 2020 2019 RM RM RM RM Balance as at 1 January 1,146,253 2,055,328 145,057 54,779 Recognised in profit or loss (Note 9) 544,948 (777,393) (81,041) 90,278 Recognised in other comprehensive income (Note 9(d)) (156,398) (102,505) - - Exchange differences (10,690) (29,177) - - Balance as at 31 December 1,524,113 1,146,253 64,016 145,057 Presented after appropriate offsetting: Deferred tax assets, net (2,954,710) (3,749,323) - - Deferred tax liabilities, net 4,478,823 4,895,576 64,016 145,057 1,524,113 1,146,253 64,016 145,057