129 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 18. DEFERRED TAX (Cont’d) (b) The components and movements of deferred tax liabilities and assets during the financial year prior to offsetting are as follows: (Cont’d) Deferred tax assets of the Group (Cont’d) Unabsorbed capital allowances Unused tax losses Others Total RM RM RM RM Balance as at 1 January 2021 (3,531,379) (993,659) (3,272,990) (7,798,028) Recognised in profit or loss (50,103) - 457,349 407,246 Exchange differences - - 70,380 70,380 Balance as at 31 December 2021 (before offsetting) (3,581,482) (993,659) (2,745,261) (7,320,402) Offsetting 3,581,482 993,659 525,217 5,100,358 Balance as at 31 December 2021 (after offsetting) - - (2,220,044) (2,220,044) Balance as at 1 January 2020 (3,535,030) (991,269) (4,252,709) (8,779,008) Recognised in profit or loss 3,651 (2,390) 1,168,764 1,170,025 Recognised in other comprehensive income - - (156,398) (156,398) Exchange differences - - (32,647) (32,647) Balance as at 31 December 2020 (before offsetting) (3,531,379) (993,659) (3,272,990) (7,798,028) Offsetting 3,531,379 993,659 318,280 4,843,318 Balance as at 31 December 2020 (after offsetting) - - (2,954,710) (2,954,710) The Group revisited the assumptions used for the forecasted taxable profits and assessed the likelihood of these subsidiaries being able to recover the amount of deductible temporary differences due to the impact of the COVID-19 pandemic. Deferred tax liabilities of the Company Property, plant and equipment Intangible assets Total RM RM RM Balance as at 1 January 2021 33,989 30,027 64,016 Recognised in profit or loss (Note 9) 48,973 (5,783) 43,190 Balance as at 31 December 2021 82,962 24,244 107,206 Balance as at 1 January 2020 119,953 25,104 145,057 Recognised in profit or loss (Note 9) (85,964) 4,923 (81,041) Balance as at 31 December 2020 33,989 30,027 64,016
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