10. DEFERRED TAX ASSETS/(LIABILITIES) (CONTINUED) Deferred tax assets/(liabilities) have not been recognised in respect of the following items: Group Company 31.12.2024 31.12.2023 31.12.2024 31.12.2023 RM’000 RM’000 RM’000 RM’000 Unutilised tax losses 2,312,106 2,286,723 - - Unutilised investment tax allowances 5,066,000 5,066,000 - - Unabsorbed capital allowances 4,607,461 4,575,014 - - Property, plant and equipment and intangible assets (588) (719) (166) (362) Provisions 43,581 42,902 291 291 12,028,560 11,969,920 125 (71) Unrecognised deferred tax assets/(liabilities) 2,886,854 2,872,781 30 (17) (a) Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profits will be allowable against which the Group and the Company can utilise the benefits. (b) The comparative figures have been restated to reflect the actual tax losses, investment tax allowances and capital allowances available to the Group and to the Company. (c) With effect from year of assessment 2020, the unutilised tax losses in a year of assessment of the Group and of the Company can only be carried forward for a maximum period of ten (10) consecutive years of assessment to be utilised against income from any business source. The unabsorbed capital allowances and unutilised investment tax allowances do not expire under the current tax legislation. 11. INVENTORIES Group 31.12.2024 31.12.2023 RM’000 RM’000 Raw materials 20,075 21,481 Work in progress 46,415 28,365 Manufactured inventories 6,973 12,096 Consumables 36,217 32,034 Crude oil 6,436 17,029 Spares 5,445 5,312 Trading merchandise in transit 6,383 8,902 127,944 125,219 Recognised in profit or loss: Inventories recognised as cost of sales 574,751 758,495 Write-down to net realisable value 5,117 1,146 156 Financial Statements DAGANG NeXCHANGE BERHAD Integrated Report 2024 NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024
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