PRG Holdings Berhad Annual Report 2019

PRG HOLDINGS BERHAD 168 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 31. TAX EXPENSE Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 (Restated) Current tax expense based on (loss)/profit for the financial year: Malaysia - current year provision 514 505 - - - (over)/under-provision in prior years (64) 115 - 9 Overseas - current year provision 1,698 913 - - - under-provision in prior years 81 - - - 2,229 1,533 - 9 Deferred tax (Note 14) Origination and reversal of temporary differences (113) (117) - - Under/(Over)-provision in prior years 4 (142) - - (109) (259) - - 2,120 1,274 - 9 The Malaysian income tax is calculated at the statutory tax rate of 24% (2018: 24%) of the estimated taxable profits for the fiscal year. Tax on each component of other comprehensive income is as follows: Group Before tax Tax effect After tax RM’000 RM’000 RM’000 2019 Change in the fair value of equity investments at fair value through other comprehensive income (21,875) - (21,875) Foreign currency translations (2,086) - (2,086) Share of other comprehensive loss of an associate (49) - (49) Share of other comprehensive loss of a joint venture (21) - (21) (24,031) - (24,031) 2018 Foreign currency translations 392 - 392 Share of other comprehensive loss of an associate (32) - (32) Share of other comprehensive loss of a joint venture (4) - (4) 356 - 356