MISC BERHAD - Annual Report 2014 p 202 9. Taxation (cont’d.) The Government had on 7 October 2011 proposed that the existing exemption for the shipping sector provided under Section 54A of the Income Tax Act, 1967 (“the Act”) be reduced from 100% to 70% of statutory income effective from Year of Assessment (“YA”) 2012. However, the Government subsequently decided to defer the above proposal for a period of 2 years via Income Tax (Exemption) (No.2) Order 2012 dated 29 May 2012 and for another period of 2 years as per letter issued by Malaysian Ministry of Finance (“MOF”) dated 29 October 2013. 10. Earnings per share Basic earnings per share are calculated by dividing profit for the year attributable to ordinary equity holders of the Corporation by the weighted average number of ordinary shares in issue during the financial year. The Group does not have any financial instrument which may dilute its basic earnings per share. Group 2014 2013 Profit after taxation attributable to equity holders of the Corporation (RM’000) - from continuing operations 2,204,310 2,081,065 - from discontinued operations – 4,310 Number of ordinary shares in issue (‘000) 4,463,794 4,463,794 Weighted average number of ordinary shares in issue (‘000) 4,463,794 4,463,794 Basic earnings per share (sen) - from continuing operations 49.4 46.6 - from discontinued operations – 0.1 49.4 46.7 Diluted earnings per share (sen) - from continuing operations 49.4 46.6 - from discontinued operations – 0.1 49.4 46.7 NOTESTOTHE FINANCIAL STATEMENTS - 31 December 2014
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