243 MISC BERHAD Annual Report 2015 27. Deferred tax (cont’d.) Deferred tax assets of the Group: (cont’d.) Tax losses, investment tax allowance and unabsorbed Other capital payables allowances Others Total RM’000 RM’000 RM’000 RM’000 At 1 January 2014 (4,711) (100,708) (9,528) (114,947) Recognised in income statement: In Malaysia (1,598) (25,560) (1,067) (28,225) Outside Malaysia 140 – – 140 Currency translation differences (23) – 65 42 At 31 December 2014 (6,192) (126,268) (10,530) (142,990) Deferred tax assets have not been recognised in respect of the following items: Group Corporation 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 Unused tax losses 5,910,372 6,119,829 5,877,782 6,088,066 Unabsorbed capital allowances 29,540 141,218 – 111,879 Others 13,680 13,680 – – 5,953,592 6,274,727 5,877,782 6,199,945 The unused tax losses and unabsorbed capital allowances of the Group, amounting to RM5,910,372,000 (2014: RM6,119,829,000) and RM29,540,000 (2014: RM141,218,000) respectively, are available indefinitely for offsetting against future taxable profits of the respective entities within the Group, subject to no substantial change in shareholdings of those entities under the Income Tax Act, 1967 and guidelines issued by the tax authority. The unused tax losses of the Corporation relate to the loss making non-resident ships and can be utilised to offset against future taxable profits. Deferred tax assets have not been recognised for certain subsidiaries as these subsidiaries have a recent history of losses.
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