EXCEL FORCE MSC BERHAD Annual Report 2017

91 17. Deferred Tax Liabilities (cont’d) The net deferred tax assets and liabilities shown on the statements of financial position after appropriate offsetting are as follows: Group Company 2017 2016 2017 2016 RM RM RM RM Deferred tax liabilities 40,820 63,013 37,042 63,013 Deferred tax assets (3,778) - - - 37,042 63,013 37,042 63,013 The components and movements of deferred tax liabilities and assets are as follows: 2017 2016 RM RM Group Deferred tax liabilities Accelerated capital allowances At 1 January 2017 63,013 76,671 Recognised in profit or loss (12,944) (56,211) (Over)/Under provision in prior years (9,249) 42,553 At 31 December 2017 40,820 63,013 Deferred tax assets Unused tax losses At 1 January 2017 - - Recognised in profit or loss 4,352 - Under provision in prior year (8,130) - At 31 December 2017 (3,778) - Company Deferred tax liabilities Accelerated capital allowances At 1 January 2017 63,013 76,671 Recognised in profit or loss (8,592) (56,211) (Over)/Under provision in prior years (17,379) 42,553 At 31 December 2017 37,042 63,013 Deferred tax assets have not been recognised in respect of the following items: Group 2017 2016 RM RM Unused tax losses 2,496,914 2,973,870 Deferred tax assets have not been recognised in respect of this item as they have arisen from a subsidiary company which has been granted with the Pioneer Status as disclosed in Note 23. Notes To The Financial Statements 31 December 2017 (cont’d)