MKH Annual Report 2018

151 MKH Berhad Annual Report 2018 17. LAND HELD FOR PROPERTY DEVELOPMENT (Cont’d) Included in land held for property development are: (i) freehold land amounting to RM127,530,916 (2017: RM169,678,150) which have been pledged for term loan and revolving credit facilities granted to certain subsidiaries as disclosed in Note 28; (ii) leasehold land amounting to RM19,040,009 (2017: RM19,040,009) which have been charged for revolving credit facilities granted to certain subsidiaries as disclosed in Note 28; and (iii) freehold and leasehold land amounting to RM284,461,990 (2017: RM257,621,706) represent entitlements of the landowners pursuant to joint land development agreements to undertake property development projects. The titles to the development land will be transferred from landowners to the property purchasers. 18. DEFERRED TAX ASSETS AND LIABILITIES The Group The Company 2018 2017 2018 2017 RM RM RM RM Deferred tax assets At beginning of year 33,933,101 29,357,648 - - Recognised in profit or loss (Note 8) 15,669,701 4,575,453 - - At end of year 49,602,802 33,933,101 - - Deferred tax liabilities At beginning of year (59,037,723) (64,545,058) (64,326) (62,926) Recognised in profit or loss (Note 8) (5,150,471) 5,268,338 (1,400) (1,400) Recognised in other comprehensive income (Note 8) (636,107) 212,071 (26,500) - E ect of movements in exchange rate 700,119 26,926 - - At end of year (64,124,182) (59,037,723) (92,226) (64,326) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018