10. INCOME TAX EXPENSE (CONTD.) Reconciliation between tax expense and accounting profits (contd.) A reconciliation of income tax expense and the product of accounting profit multiplied by the applicable corporate tax rate for the years ended 31 December 2024 and 2023 are as follows: (contd.) Company 2024 RM’000 2023 RM’000 Profit before tax and zakat 64,550 24,306 Taxation at Malaysian statutory tax rate of 24% (2023: 24%) 15,492 5,833 Non-deductible expenses 7,663 9,234 Foreign income not subject to tax (6,355) (1,674) Income not subject to tax (19,624) (13,567) Deferred tax assets not recognised during the year 2,824 310 (Over)/under provision of income tax expense in prior years (135) 350 Income tax (credit)/expense recognised in statement of comprehensive income (135) 486 11. EARNINGS PER SHARE Basic earnings per share amounts are calculated by dividing profit for the year attributable to owners of the parent by the weighted average number of ordinary shares in issue during the financial year held by the Company. Group 2024 RM’000 2023 RM’000 Profit attributable to owners of the parent 51,909 31,112 Number of shares ‘000 Number of shares ‘000 Weighted average number of ordinary shares in issue 831,624 831,624 Group 2024 Sen 2023 Sen Basic earnings per share 6.2 3.7 There are no potential ordinary shares outstanding as at 31 December 2024. As such, the diluted earnings per share of the Group is equivalent to the basic earnings per share. There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorisation of these financial statements. Notes to the Financial Statements For the year ended 31 December 2024 311 FINANCIAL STATEMENTS
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