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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