250 YINSON HOLDINGS BERHAD ACCOUNTABILITY 35. DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statement of financial position: Group 2025 RM million 2024 RM million Deferred tax assets 100 57 Deferred tax liabilities (17) (602) 83 (545) At 1 February (545) (295) Recognised in profit or loss (Note 14) 639 (200) Disposal of a subsidiary to a joint venture due to loss of control (Note 48(a)) (36) - Disposal of subsidiaries (Note 48(c)) 20 - Exchange differences 5 (50) At 31 January 83 (545) The components and movements of deferred taxes during the financial year were as follows: Group Tax losses and interest capitalised RM million Contract assets RM million Accelerated capital allowances and others RM million Total RM million At 1 February 2023 28 (318) (5) (295) Recognised in profit or loss 16 (212) (4) (200) Exchange differences 3 (52) (1) (50) At 31 January 2024 and 1 February 2024 47 (582) (10) (545) Recognised in profit or loss - changes in tax estimate (Note 5(c)) - 591 - 591 - others 64 - (16) 48 Disposal of a subsidiary to a joint venture due to loss of control (Note 48(a)) (7) (29) - (36) Disposal of subsidiaries (Note 48(c)) - - 20 20 Exchange differences (12) 20 (3) 5 At 31 January 2025 92 - (9) 83 2024 Deferred tax assets (before offsetting) 47 - 7 54 Deferred tax liabilities (before offsetting) - (582) (17) (599) Net deferred tax assets/(liabilities) 47 (582) (10) (545) 2025 Deferred tax assets (before offsetting) 92 - 3 95 Deferred tax liabilities (before offsetting) - - (12) (12) Net deferred tax assets/(liabilities) 92 - (9) 83
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