notes to the financial statements 31 march 2025 (cont’d.) 7. INCOME TAX EXPENSES (CONT’D.) A reconciliaঞon of income tax expense applicable to profit before taxaঞon at the statutory tax rate to income tax expenses at the effecঞve tax rate of the Group and of the Company is as follows: GROUP COMPANY 2025 RM’000 2024 RM’000 2025 RM’000 2024 RM’000 Profit before taxaঞon 274,923 332,406 253,211 215,424 Tax at the applicable corporate tax rate of 24% (2024: 24%) 65,982 79,777 60,771 51,701 Tax effects of: Effects of differenঞal in tax rates of subsidiaries 258 (478) – – Share of results in joint venture 673 156 – – Effects of income subject to RPGT - 12 – – Non-deducঞble expenses 4,011 2,720 1,029 3,150 Non-taxable income (859) (311) (56,984) (48,973) Deferred tax assets not recognised 1,979 6,664 – – Recogniঞon and uঞlisaঞon of previously unrecognised tax losses and unabsorbed capital allowances (13,176) (3,818) – – Under/(Over) provision in prior years: - income tax 3,102 (85) 280 (7) - deferred tax (1,892) 1,925 – – Income tax expense for the financial year 60,078 86,562 5,096 5,871 The tax effects of deducঞble temporary differences, unused tax losses and unused tax credits which would give rise to deferred tax assets are recognised to the extent that it is probable that sufficient future taxable profits will be available against which the deducঞble temporary differences, unused tax losses, and unused tax credits can be uঞlised. At the reporঞng date, the deferred tax assets that have not been recognised in the financial statements due to uncertainty of their realisaঞon, are as follows: GROUP 2025 RM’000 2024 RM’000 Unabsorbed capital allowances 6,098 8,860 Unuঞlised tax losses 26,726 75,579 Unabsorbed industrial building allowances 55,051 49,491 Other deducঞble temporary differences 94,246 94,846 182,121 228,776 179 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 07 FINANCIAL STATEMENTS
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