12. INCOME TAX EXPENSE (CONT’D.) The reconciliation between tax expense and the product of accounting (loss)/profit multiplied by the applicable corporate tax rate are as follows: 2025 RM’000 2024 RM’000 Group Loss before tax (12,858) (117,125) Taxation at Malaysian statutory tax rate of 24% (2024: 24%) (3,086) (28,110) Tax incentive and income not subject to tax (4,027) (4,313) Expenses not deductible for tax purposes 60,373 94,431 Effect on income taxed under real property gain tax 141 (30,917) Deferred tax recognised at different tax rate (640) (3,528) Deferred tax assets not recognised 40,512 97,929 Utilisation of previously unrecognised tax losses and unabsorbed capital allowances (6,146) (8,934) Share of results of joint ventures (485) (1,312) (Over)/underprovision of deferred tax in prior year (12,764) 1,004 Under/(over)provision of tax expense in prior years 3,454 (303) Income tax expense 77,332 115,947 Company Profit/(loss) before tax 41,587 (7,925) Taxation at Malaysian statutory tax rate of 24% (2024: 24%) 9,981 (1,902) Income not subject to tax (15,254) (5,642) Expenses not deductible for tax purposes 5,453 7,685 Under/(over)provision of deferred tax in prior year 6 (48) Underprovision of tax expense in prior year 391 - Income tax expense 577 93 Tax savings during the financial year arising from: Group 2025 RM’000 2024 RM’000 Utilisation of previously unused tax losses and unabsorbed capital allowances 25,608 37,225 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 AR 2025 | FINANCIAL STATEMENT & OTHER INFORMATION 286
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