Kenanga Investment Bank Berhad Annual Report 2021 238 Our Sustainability Approach About This Report We Are Kenanga Message From Chairman and GMD 19. DEFERRED TAXATION (CONT’D.) The components and movements of deferred tax assets and liabilities during the financial year prior to offsetting are as follows (cont’d.): Deferred tax liabilities of the Bank: Fair value reserve RM’000 Excess of capital allowances over depreciation RM’000 Right-of-use assets RM’000 Total RM’000 At 1 January 2021 (4,720) (5,725) (5,121) (15,566) Recognised in profit or loss - (2,509) 1,472 (1,037) Recognised in other comprehensive income 4,521 - - 4,521 At 31 December 2021 (199) (8,234) (3,649) (12,082) At 1 January 2020 (3,317) (5,800) (5,699) (14,816) Recognised in profit or loss - 75 578 653 Recognised in other comprehensive income (1,403) - - (1,403) At 31 December 2020 (4,720) (5,725) (5,121) (15,566) Deferred tax assets of the Bank: Impairment allowance and provisions RM’000 Lease liabilities RM’000 Total RM’000 At 1 January 2021 19,142 5,146 24,288 Recognised in profit or loss 4,115 (1,102) 3,013 At 31 December 2021 23,257 4,044 27,301 At 1 January 2020 8,534 5,625 14,159 Recognised in profit or loss 10,608 (479) 10,129 At 31 December 2020 19,142 5,146 24,288 Deferred tax assets have not been recognised in respect of the following items: Group 2021 RM’000 2020 RM’000 Unutilised tax losses carried forward 7,904 6,274 Unutilised capital allowances carried forward 2,180 1,992 10,084 8,266 On 27 December 2018, the Finance Act 2018 was gazetted and section 10 of the Finance Act 2018 made amendments to Section 44 of Income Tax Act 1967 (“ITA”). Effective year of assessment (“YA”) 2019, the ability to carry forward the unabsorbed losses and unutilised allowances is restricted to a maximum period of seven (7) consecutive years. Notes to the Financial Statements 31 December 2021
RkJQdWJsaXNoZXIy NDgzMzc=