Eng - IOI Group

33 DEFERRED TAXATION cont’dDeferred tax assetsIn RM’000Group2003 2002At beginning of financial yearAs reported - -Prior year adjustments 29,311 31,103As restated 29,311 31,103Recognised in the income statements (Note 9)Arising from unabsorbed tax losses 16,557 -Arising from unutilised capital allowances 5,885 -Utilisation of unabsorbed tax losses (24,193) (2,095)Utilisation of unutilised capital allowances (10) 303Other deductible temporary differences 1,713 -(48) (1,792)Charged to equity 1,723 -Addition through subsidiaries acquired 11,999 -42,985 29,311The components of deferred tax liabilities and assets at the end of the financial year comprise tax effects of:Deferred tax liabilitiesIn RM’000GroupCompany2003 2002 2003 2002Fair value adjustments on acquisitions 115,401 109,027 - -Temporary differences arising fromaccelerated capital allowances 177,742 83,222 5,720 6,220Temporary differences on prepaid lease rental 11,112 6,509 - -Temporary differences on recognitionof project profit 2,075 1,533 - -Temporary differences on recognitionof project expenses 6,131 3,745 - -Other taxable temporary differences 6,814 165 - -Revaluation of investment properties 10,606 8,030 - -329,881 212,231 5,720 6,220185IOI Corporation BerhadAnnual Report 2003