My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 200 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 38. INCOME TAX EXPENSE (CONT’D) Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2019 - 24%) of the estimated assessable profit for the financial year/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 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Unutilised tax losses 68,997 52,610 26,279 24,463 Unabsorbed capital allowances 33,917 31,135 23,225 15,162 Accelerated capital allowances (459) (355) - - Other provisions 2,806 795 967 77 105,261 84,185 50,471 39,702 39. EARNINGS PER SHARE The Group 1.1.2020 1.10.2018 to to 31.12.2020 31.12.2019 Profit attributable to owners of the Company (RM’000) 268,656 303,090 Weighted average number of ordinary shares in issue:- Ordinary shares at 1 January 2020/1 October 2018 (‘000) 3,532,276 3,590,917 Effect of treasury shares buy-back (‘000) (12,849) (58,641) Effect of new ordinary shares issued (‘000) 6,113 - Effect of new ordinary shares issued pursuant to DRP (‘000) 7,105 - Effect of new ordinary shares issued pursuant to private placement (‘000) 4,918 - Weighted average number of ordinary shares at 31 December 2020/2019 (‘000) 3,537,563 3,532,276 Basic earnings per share (Sen) 7.6 8.6 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.