ANNUAL REPORT 2025 167 NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 9. Income tax expense (cont'd) Reconciliation between income tax expense and accounting profit 2025 2024 2025 2024 RM RM RM RM Profit before tax 138,110,809 68,398,279 41,965,542 1,778,235 Taxation at Malaysian statutory tax rate of 24% (2024: 24%) 33,146,594 16,415,587 10,071,730 427,000 Different tax rates in other countries (222,825) (80,356) - - Effect of expenses not deductible for tax purposes 5,101,574 5,350,758 820,270 706,000 Effect of income not subject to tax - (1,043,858) (10,445,000) (960,000) Effect of capital gains tax 266,663 - - - Deferred tax assets not recognised on unutilised tax losses, unabsorbed capital allowances and other temporary differences 2,918,387 585,255 - - Deferred tax assets recognised on unutilised tax losses, unabsorbed capital allowances and other temporary differences (725,012) (870,157) - - Utilisation of current year's reinvestment allowances - (825,317) - - Utilisation of previous year's unrecognised business loss, unabsorbed capital allowances and other temporary differences (1,773,086) (2,156,346) - - Share of tax of associate 329,796 79,116 - - Share of tax of joint ventures (580,428) (154,594) - - (Over)/underprovision of income tax in prior years (3,036,227) 179,220 (2,630) 1,180 (Over)/underprovision of deferred tax in prior years (4,146,285) 137,296 - - Income tax expense recognised in profit or loss 31,279,151 17,616,604 444,370 174,180 Company Group The reconciliations between income tax expense and the product of accounting profit multiplied by the applicable corporate tax rate for the years ended 31 December 2025 and 2024 are as follows: - 47 -
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