My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 169 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) FINANCIAL STATEMENTS 41. INCOME TAX EXPENSE (CONT’D) Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2018 - 24%) of the estimated assessable profit for the financial period. On 10 August 2016, a subsidiary with MSC Malaysia status, was granted an extension of the Pioneer Status incentive under the Promotion of Investments Act, 1986. The subsidiary will enjoy full exemption from income tax on its statutory income from pioneer activities for five (5) years, from 27 April 2016 to 26 April 2021. No deferred tax assets are recognised in respect of the following items:- The Group The Company 31.12.2019 30.9.2018 31.12.2019 30.9.2018 RM’000 RM’000 RM’000 RM’000 Unutilised tax losses 65,668 41,610 31,650 24,463 Unabsorbed capital allowances 17,049 11,547 15,890 10,684 Accelerated capital allowances (4,417) (415) - - Other provisions 84 (130) 77 (99) 78,384 52,612 47,617 35,048 42. EARNINGS PER SHARE The Group 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 Profit attributable to owners of the Company (RM’000) 303,090 128,952 Weighted average number of ordinary shares in issue:- Ordinary shares at 1 October 2018/1 July 2017 (‘000) 3,590,917 3,606,306 Effect of treasury share buy-back and resale (‘000) (58,641) (15,389) Weighted average number of ordinary shares at 31 December 2019/30 September 2018 (‘000) 3,532,276 3,590,917 Basic earnings per share (Sen) 8.6 3.6 The Company has not issued any dilutive potential ordinary shares and hence, the diluted earnings per share is equal to the basic earnings per share.