NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Deferred tax liabilities (cont’d) The deferred tax liability relates to fair value gain on investment properties which is expected to be recovered through sale. The amount of deferred tax recognised is measured using the tax rates that would apply on the sale of those assets at their carrying values at the reporting date unless the property is held with the objective to consume substantially all the economic bene ts embodied in the property over time, rather than through sale. Based on the Finance Act 2019 which was gazetted in December 2019, it was clari ed that the RPGT rate of 10% is prescribed for disposal of investment properties held for more than 5 years for a trustee of a trust. 18. Islamic financing Group Fund 2021 2020 2021 2020 RM RM RM RM Non-current Commodity Murabahah Term Financing-i I (“Commodity Murabahah - I”) 80,000,000 80,000,000 80,000,000 80,000,000 Commodity Murabahah Term Financing-I II (“Commodity Murabahah - II”) 29,994,050 29,994,050 29,994,050 29,994,050 Commodity Murabahah Term Financing-I III (“Commodity Murabahah - III”) 580,000,000 - 580,000,000 - 689,994,050 109,994,050 689,994,050 109,994,050 Less: Transaction costs (6,117,083) (924,360) (6,117,083) (924,360) Total (non-current) 683,876,967 109,069,690 683,876,967 109,069,690 Current Sukuk Ijarah - Islamic Medium Term Notes (“IMTNs”) - 575,000,000 - - Less: Transaction costs - (482,435) - - Total (current) - 574,517,565 - - Total (non-current and current) 683,876,967 683,587,255 683,876,967 109,069,690 GOVERNANCE STRUCTURE FINANCIAL REPORTS 183 AN PO STRATEGIC PERFORMANCE CORPORATE OVERVIEW THE DRIVING FORCES SUSTAINABILITY STATEMENT
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