241 MISC BERHAD Annual Report 2015 26. Other reserves (cont’d.) (f) Fair value reserve This reserve records changes in available-for-sale financial assets until they are disposed off or impaired. (g) Hedging reserve Hedging reserve represents the effective portion of the gain or loss on hedging instruments in the Group’s cash flow hedges and includes the Group’s share of hedging reserve of joint ventures. (h) Currency translation reserve Currency translation reserve comprises all foreign exchange differences arising from translation of the financial statements of the Corporation and foreign operations whose functional currencies are different from that of the Group’s presentation currency. 27. Deferred tax Group 2015 2014 RM’000 RM’000 At 1 January (61,410) (45,279) Recognised in income statement: In Malaysia 2,008 (7,889) Outside Malaysia (2,411) (8,284) (403) (16,173) Currency translation differences (4) 42 At 31 December (61,817) (61,410) Presented after appropriate offsetting as follows: Deferred tax assets (92,186) (90,373) Deferred tax liabilities 30,369 28,963 (61,817) (61,410)
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