EXCEL FORCE MSC BERHAD 97 Notes to the Financial Statements (cont’d) 27. DEFERRED TAX (CONT’D) Deferred tax assets have not been recognised in respect of the following items: Group Company 2021 2020 2021 2020 RM RM RM RM Unutilised capital allowances 5,311 - - - Unused tax losses 812,503 322,763 - - Other deductible temporary differences 3,562,029 3,036,100 2,916,996 2,155,833 4,379,843 3,358,863 2,916,996 2,155,833 The deferred tax assets have not been recognised in respect of these items as they may not have sufficient taxable profits to be used to offset or they have arisen in subsidiary company that have a recent history of losses. Pursuant to an amendment to Section 44(5F) of the Income Tax Act 1967, effective from year of assessment 2019 onwards, the unused tax losses can be carried forward for a maximum period of ten consecutive years of assessment. The unused tax losses accumulated up to year of assessment 2018 can be carried forward for another ten consecutive years of assessment until year of assessment 2028. 28. EARNINGS PER SHARE (a) Basic earnings per share The basic earnings per share are calculated based on the consolidated profit for the financial year attributable to the owners of the parent and the weighted average number of ordinary shares in issue during the financial year as follows: Group 2021 2020 Profit attributable to owners of the parent (RM) 12,179,755 10,766,107 Weighted average number of ordinary shares in issue: (units) Issued ordinary shares at 1 January 615,378,375 615,378,375 Effect of treasury shares held (56,000,000) (52,898,630) 559,378,375 562,479,745 Basic earnings per ordinary share (in sen) 2.18 1.91 (b) Diluted earnings per share The Group has no dilution in their earnings per ordinary shares as there are no dilutive potential ordinary shares. There have been no other transactions involving ordinary shares or potential ordinary shares since the end of the financial year and before the authorisation of these financial statements.
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