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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
33. Deferred tax (cont’d)
146
Deferred tax assets (cont’d)
Company
Building on Success: Developing Resources for the Future
Unused tax
losses and
unabsorbed
capital
allowance
RM’000
Other
provisions
RM’000
Fair value
changes on
derivative
financial
instruments
RM’000
Total
RM’000
At 1 January 2011 – (1,268) (344) (1,612)
Recognised in profit or loss – 52 128 180
Recognised in other comprehensive income – – – –
At 31 December 2011 – (1,216) (216) (1,432)
At 1 January 2010 – (993) (983) (1,976)
Recognised in profit or loss – (275) (136) (411)
Recognised in other comprehensive income – – 775 775
At 31 December 2010 – (1,268) (344) (1,612)
Deferred tax assets have not been recognised in respect of the following item:
2011 2010
RM’000 RM’000
Unutilised tax losses 53,335 84,566
(a) The unutilised tax losses of the Group comprise:
(i) an amount of RM53,335,000 (2010: RM48,315,000) that arose from subsidiaries in Indonesia, which is subject to
agreement by the tax authorities, may be carried forward and utilised to offset future taxable income for up to five
years following the year in which the tax loss occurred.
(ii) The subsidiary in Australia has been disposed of during the financial year, thus no amount (2010: RM36,251,000) is
available for offsetting against future taxable income of a subsidiary in Australia, which is subject to agreement by
the tax authorities, may be carried forward and utilised to offset future taxable income.
(b) At the reporting date, no deferred tax liability (2010: Nil) has been recognised for taxes that would be payable on the
undistributed earnings of a foreign subsidiary. The Group has determined that undistributed earnings of the subsidiary
will not be distributed in the foreseeable future.
Such temporary differences for which no deferred tax liability has been recognised aggregate to RM122,438,000 (2010:
RM136,853,000). The deferred tax liability is estimated to be RM18,366,000 (2010: RM20,528,000).