200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 27. Deferred tax assets 2022 2021 RM RM At 1 January 2,863,545 653,106 Recognised in profit or loss (Note 10) 15,368,738 2,210,439 At 31 December 18,232,283 2,863,545 Deferred tax liabilities Property, plant and equipment Others Total RM RM RM At 1 January 2021 (6,618,915) (886,865) (7,505,780) Recognised in profit or loss 1,729,416 430,212 2,159,628 At 31 December 2021 and 1 January 2022 (4,889,499) (456,653) (5,346,152) Recognised in profit or loss (340,801) (377,832) (718,633) At 31 December 2022 (5,230,300) (834,485) (6,064,785) Deferred tax assets Unutilised tax credits and Provision for unabsorbed defect liability capital costs and allowances others Total RM RM RM At 1 January 2021 1,544,311 6,614,575 8,158,886 Recognised in profit or loss 957,520 (906,709) 50,811 At 31 December 2021 and 1 January 2022 2,501,831 5,707,866 8,209,697 Recognised in profit or loss 5,172,471 10,914,900 16,087,371 At 31 December 2022 7,674,302 16,622,766 24,297,068 Deferred tax assets have not been recognised in respect of the following items: 2022 2021 RM RM Unutilised tax losses 4,320,000 4,587,000 Unabsorbed capital allowance 3,994,000 5,000 Other temporary differences 12,661,000 12,059,000 Group Group Based on the current legislation, the unused tax losses up to the year of assessment 2018 can be carried forward until the year of assessment 2028 and the unused tax losses for 2019 onwards are allowed to be utilised for 10 consecutive years of assessment immediately following the relevant year of assessment; whereas, the unabsorbed capital allowances are allowed to be carried forward indefinitely. The components and movements of deferred tax assets during the financial year prior to offsetting are as follows: - 86 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Kimlun Corporation Berhad | Registration No. 200901023978 (867077-X) 151
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