200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 26. Deferred tax assets 2023 2022 RM RM At 1 January 18,232,283 2,863,545 Recognised in profit or loss (Note 9) (2,633,092) 15,368,738 At 31 December 15,599,191 18,232,283 Deferred tax liabilities Property, plant and equipment Others Total RM RM RM At 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 and 1 January 2023 (5,230,300) (834,485) (6,064,785) Recognised in profit or loss (1,837,223) (826,040) (2,663,263) At 31 December 2023 (7,067,523) (1,660,525) (8,728,048) Deferred tax assets Unutilised tax losses and Provision for unabsorbed defect liability capital costs and allowance others Total RM RM RM At 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 and 1 January 2023 7,674,302 16,622,766 24,297,068 Recognised in profit or loss 1,855,658 (1,825,487) 30,171 At 31 December 2023 9,529,960 14,797,279 24,327,239 Deferred tax assets have not been recognised in respect of the following items: 2023 2022 RM RM Unutilised tax losses 1,776,000 4,320,000 Unabsorbed capital allowance 6,084,000 3,994,000 Other temporary differences 9,873,000 12,661,000 Group Group Based on the current legislation, the unutilised tax losses up to the year of assessment 2018 can be carried forward until the year of assessment 2028 and the unutilised 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 allowance 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: - 67 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 137 Annual Report 2023
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