MKH Berhad 169 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 LAND HELD FOR PROPERTY DEVELOPMENT (CONT’D) 18. DEFERRED TAX ASSETS AND LIABILITIES 19. 2022 RM The Company 2021 RM 2021 RM 2022 RM The Group At beginning of year Deferred tax assets Recognised in profit or loss (Note 8) At end of year (5,685,613) - - (4,077,358) 41,236,529 - - 35,550,916 35,550,916 - - 31,473,558 At beginning of year Deferred tax liabilities Recognised in profit or loss (Note 8) At end of year 3,201,697 - - 2,611,879 (58,133,071) (114,428) (114,428) (56,122,660) Recognised in other comprehensive income (Note 8) Effect of movements in exchange rate (370,350) - - (42,109) (820,936) - - (298,597) (56,122,660) (114,428) (114,428) (53,851,487) Included in land held for property development are: freehold land amounting to RM79,962,939 (2021: RM79,962,939) have been pledged for term loan and revolving credit facilities granted to certain subsidiaries as disclosed in Note 33; leasehold land amounting to RM19,040,009 (2021: RM19,040,009) have been charged for revolving credit facilities granted to certain subsidiaries as disclosed in Note 33; freehold land amounting to RM39,704,655 (2021: RMNil) have been deposited with a financial institution for term loan facilities granted to a subsidiary as disclosed in Note 33; and freehold and leasehold land amounting to RM293,917,816 (2021: RM289,699,792) 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 directly from landowners to the property purchasers. (i) (ii) (iii) (iv)
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