Notes to the Financial Statements for the Financial Year Ended 30 September 2024 Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 245 18. LAND HELD FOR PROPERTY DEVELOPMENT (CONT’D) Included in land held for property development are: (i) freehold land amounting to RM79,962,939 (2023: RM79,962,939) that has been pledged for term loan and revolving credit facilities granted to certain subsidiaries as disclosed in Note 33; (ii) leasehold land amounting to RM19,039,509 (2023: RM19,040,009) that has been charged for revolving credit facility granted to a subsidiary as disclosed in Note 33; (iii) the title of the freehold land amounting to RM19,241,720 (2023: RM24,436,438) that has been deposited with a financial institution for term loan facilities granted to a subsidiary as disclosed in Note 33; and (iv) freehold and leasehold land amounting to RM193,921,649 (2023: RM278,134,587) that represents 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. 19. DEFERRED TAX ASSETS AND LIABILITIES The Group The Company 2024 2023 2024 2023 RM RM RM RM Deferred tax assets At beginning of year 24,228,580 31,473,558 - - Recognised in profit or loss (Note 8) (5,934,982) (7,244,978) - - At end of year 18,293,598 24,228,580 - - Deferred tax liabilities At beginning of year (50,046,493) (53,851,487) (114,428) (114,428) Recognised in profit or loss (Note 8) 5,501,527 3,726,899 - - Recognised in other comprehensive income (Note 8) (239,304) 61,583 - - Effect of movements in exchange rate 350,452 16,512 - - At end of year (44,433,818) (50,046,493) (114,428) (114,428)
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