28. Deferred tax (cont’d.) Deferred tax assets of the Group: (cont’d.) The unused tax losses and unabsorbed capital allowances of the Group, amounting to RM6,120,564,000 (2015: RM6,391,535,000) and RM29,773,000 (2015: RM29,868,000) 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 with recent history of losses. 29. Deferred Income Group Corporation 2016 2015 2016 2015 RM’000 RM’000 RM’000 RM’000 At 1 January 67,201 67,201 – – Deferred during the year 717,047 – – – Currency translation differences 62,022 – – – At 31 December 846,270 67,201 – – Current (Note 25) 89,309 67,201 – – Non-current 756,961 – – – 846,270 67,201 – – Deferred income relates to time charter income paid in advance by customers. MISC BERHAD • Annual Report 2016 280 notes to the financial statements - 31 december 2016
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