Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 145 FINANCIAL STATEMENTS CORPORATE GOVERNANCE ANALYSIS OF SHAREHOLDINGS OTHER INFORMATION ANNUAL GENERAL MEETING 22 DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED) The gains or losses recognised in the cash flow hedging reserve in equity will be continuously released to the income statement within finance cost until the underlying borrowings are repaid. As the Group and the Company intend to hold the borrowings and associated derivative instruments to maturity, any changes to the fair values of the derivative instruments will not impact the income statements and will be taken to the cash flow hedging reserve in equity. The method and assumption applied in determining the fair value of derivatives are disclosed in Note 3(i) to the financial statements. 23 DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statements of financial position: Group 31.12.2012 31.12.2011 1.1.2011 RM’000 RM’000 RM’000 Deferred tax assets 121,003 120,870 95,906 Deferred tax liabilities (548,070) (551,068) (620,317) (427,067) (430,198) (524,411) The analysis of deferred tax assets and deferred tax liabilities is as follows: Group 31.12.2012 31.12.2011 1.1.2011 RM’000 RM’000 RM’000 Deferred tax assets: - to be recovered after more than 12 months 3 1 – - to be recovered within 12 months 121,000 120,869 95,906 121,003 120,870 95,906 Deferred tax liabilities: - to be recovered after more than 12 months (548,070) (486,376) (503,650) - to be recovered within 12 months – (64,692) (116,667) (548,070) (551,068) (620,317) Deferred tax liabilities (net) (427,067) (430,198) (524,411)