NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 232 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 19. DEFERRED TAXATION Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 At 1 January 25,120 30,605 12,966 15,219 Disposal of a subsidiary (Note 56 (a)(i)) (40) - - - Reclassification * - (79) - - Recognised in profit or loss (Note 41) 2,957 (7,759) (3,566) (4,606) Recognised in other comprehensive income (2,593) 2,353 (2,593) 2,353 At 31 December 25,444 25,120 6,807 12,966 Deferred tax assets and liabilities on the statements of financial position are as follows: Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Deferred tax assets 25,500 25,184 6,807 12,966 Deferred tax liabilities (56) (64) - - 25,444 25,120 6,807 12,966 * Arising from Purchase Price Allocation exercise on i-VCAP and reclassification of goodwill to customer relationship, the Group has recognised deferred tax liability of RM79,000. Deferred tax assets and liabilities prior to offsetting are summarised as follows: Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Deferred tax assets 39,173 36,691 18,914 24,350 Deferred tax liabilities (13,729) (11,571) (12,107) (11,384) 25,444 25,120 6,807 12,966
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