127 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 17. INVESTMENTS IN JOINT VENTURES AND AN ASSOCIATE (Cont’d) (h) The reconciliation of movement in the impairment loss are as follows: Group 2021 2020 RM RM Investment in associate Balance as at 1 January 715,456 397,700 Charge for the financial year - 317,756 Reversal of impairment during the financial year (31,206) - Balance as at 31 December 684,250 715,456 18. DEFERRED TAX (a) The deferred tax assets and liabilities are made up of the following: Group Company 2021 2020 2021 2020 RM RM RM RM Balance as at 1 January 1,524,113 1,146,253 64,016 145,057 Recognised in profit or loss (Note 9) 3,087,126 544,948 43,190 (81,041) Recognised in other comprehensive income (Note 9(d)) - (156,398) - - Exchange differences 69,513 (10,690) - - Balance as at 31 December 4,680,752 1,524,113 107,206 64,016 Presented after appropriate offsetting: Deferred tax assets, net (2,220,044) (2,954,710) - - Deferred tax liabilities, net 6,900,796 4,478,823 107,206 64,016 4,680,752 1,524,113 107,206 64,016
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