Annual Report (Complete) - MYCRON Steel Berhad

Notes to the Financial Statements 30 June 2010
(continued)
11. TAXATION (continued)
Group
Company
2010
RM
2009
RM
2010
RM
2009
RM
Deferred tax (Note 17):
- origination and reversal of temporary
differences
- over accrual in prior financial year
6,484,762
(224,277)
(9,613,422)
(1,921,103)
(1,250)
-
11,250
(12,500)
6,260,485
(11,534,525)
(1,250)
(1,250)
6,767,904
(11,301,622)
468,111
1,360,767
The explanation of the relationship between tax expense/(credit) and profit/(loss) before tax is as follows:
Group
Company
2010
RM
2009
RM
2010
RM
2009
RM
Numerical reconciliation between tax expense/
(credit) and the product of accounting profit/
(loss) multiplied by the Malaysian tax rate
Profit/(loss) before tax
32,262,734
(49,656,412)
(4,371,630)
819,064
Tax calculated at the Malaysian tax:
- tax rate of 25% (2009: 25%)
8,065,684
(12,414,103)
(1,092,908)
204,766
Tax effects of:
- share of results of an associate
- expenses not deductible for tax purposes
- double deductions
- reinvestment allowance tax credit (claimed)/
clawback
- income not subject to tax
- under/(over) accrual in prior financial year (net)
24,406
1,459,444
(63,550)
(218,729)
(2,539,932)
40,581
30,375
2,291,077
(82,972)
808,333
(21,904)
(1,912,428)
-
1,299,340
-
-
(3,179)
264,858
-
1,157,901
-
-
(2,188)
288
Tax expense/(credit)
6,767,904
(11,301,622)
468,111
1,360,767
12. EARNINGS/(LOSS) PER SHARE
(a)
Basic earnings per share
Group
Profit/(loss) attributable to ordinary shareholders
Weighted average number of ordinary shares
Basic earnings/(loss) per share (sen)
2010
RM
25,494,830
177,998,330
14.32
2009
RM
(38,354,790)
178,589,510
(21.48)
(b)
Diluted earnings/(loss) per share
Diluted loss per share in the previous financial year is the same as the basic loss per share as there is no potential ordinary
shares.
pg 67 | Mycron Steel Berhad