Press Metal Annual Report 2023

Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 248 249 Integrated Annual Report 2023 Notes to the Financial Statements Notes to the Financial Statements 11. DEFERRED TAX ASSETS/(LIABILITIES) Recognised deferred tax assets/(liabilities) Deferred tax assets and liabilities are attributable to the following: Assets Liabilities Net 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Group Property, plant and equipment 32 95 (511,419) (460,299) (511,387) (460,204) Right-of-use assets - - (64,700) (54,678) (64,700) (54,678) Lease liabilities 69,894 55,502 - - 69,894 55,502 Provisions 55,886 60,691 - - 55,886 60,691 Capital allowance carry-forwards 407 232 - - 407 232 Unutilised tax losses 3,509 - - - 3,509 - Investment tax allowance carry- forwards 487 - - - 487 - Derivatives 31,706 65 (891) (39,351) 30,815 (39,286) Other items 315 - (51,894) (29,892) (51,579) (29,892) Tax assets/(liabilities) 162,236 116,585 (628,904) (584,220) (466,668) (467,635) Set off of tax (141,243) (115,870) 141,243 115,870 - - Net tax assets/(liabilities) 20,993 715 (487,661) (468,350) (466,668) (467,635) Company Provisions 1,509 929 - - 1,509 929 Derivatives 16,610 - - (2,386) 16,610 (2,386) Other items 32 29 - - 32 29 Tax assets/(liabilities) 18,151 958 - (2,386) 18,151 (1,428) Set off of tax - (958) - 958 - - Net tax assets/(liabilities) 18,151 - - (1,428) 18,151 (1,428) 11. DEFERRED TAX ASSETS/(LIABILITIES) (CONT’D) Movement in temporary differences during the year At 1.1.2022 RM’000 Recognised in profit or loss (Note 23) RM’000 Recognised in other comprehensive (expense)/ income (Note 24) RM’000 Effect of movements in exchange rates RM’000 At 31.12.2022/ 1.1.2023 RM’000 Recognised in profit or loss (Note 23) RM’000 Recognised in other comprehensive (expense)/ income (Note 24) RM’000 Effect of movements in exchange rates RM’000 At 31.12.2023 RM’000 Group Property, plant and equipment (427,184) (33,929) - 909 (460,204) (46,773) - (4,410) (511,387) Right-of-use assets (53,398) (1,280) - - (54,678) (7,905) - (2,117) (64,700) Lease liabilities 56,628 (1,126) - - 55,502 11,919 - 2,473 69,894 Provisions 59,213 1,478 - - 60,691 (7,370) - 2,565 55,886 Capital allowance carryforwards 86 146 - - 232 175 - - 407 Unutilised tax losses - - - - - 3,494 - 15 3,509 Investment tax allowance carry-forwards 58 (58) - - - - - - - Reinvestment tax allowance carry-forwards - - - - - 487 - - 487 Derivatives 16,601 (1,167) (54,720) - (39,286) 6,094 64,007 - 30,815 Other items (631) (29,261) - - (29,892) (21,238) - (449) (51,579) (348,627) (65,197) (54,720) 909 (467,635) (61,117) 64,007 (1,923) (466,668) Company Provisions 633 296 - - 929 580 - - 1,509 Derivatives 21,507 (23,840) (53) - (2,386) (1,239) 20,235 - 16,610 Other items 31 (2) - - 29 3 - - 32 22,171 (23,546) (53) - (1,428) (656) 20,235 - 18,151

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