MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 259 Financial Statements 27. OTHER RESERVES (CONT'D.) (g) Currency translation reserve Currency translation reserve comprises all foreign exchange differences arising from translation of the financial statements of the Corporation and foreign operations with different functional currencies from that of the Group's presentation currency. 28. DEFFERED TAX Group 2017 RM'000 2016 RM'000 At 1 January (48,145) (61,817) Recognised in income statement: In Malaysia (15,296) 9,159 Outside Malaysia (2,770) 3,418 (18,066) 12,577 Currency translation differences (2,131) 1,095 At 31 December (68,342) (48,145) Presented after appropriate offsetting as follows: Deferred tax assets (99,484) (85,335) Deferred tax liabilities 31,142 37,190 (68,342) (48,145) The components and movements of deferred tax liabilities and assets during the financial year, prior to offsetting are as follows: Deferred tax liabilities of the Group: Accelerated capital allowances Others Total RM'000 RM'000 RM'000 At 1 January 2017 53,457 23,381 76,838 Recognised in income statement: In Malaysia 28,447 - 28,447 Outside Malaysia - (2,288) (2,288) At 31 December 2017 81,904 21,093 102,997 At 1 January 2016 70,667 19,245 89,912 Recognised in income statement: In Malaysia (17,210) - (17,210) Outside Malaysia - 4,136 4,136 At 31 December 2016 53,457 23,381 76,838