perspective perspective - ChartNexus

18 DEFERRED TAX (cont’d)
137
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Subject to income tax:
Deferred tax assets (before offsetting):
- property, plant and equipment 794 722 672 599
- tax losses 2,674 574 – –
- receivables 402 532 83 83
- payables 815 503 226 182
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
4,685 2,331 981 864
Offsetting (3,839) (1,961) (981) (864)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Deferred tax assets (after offsetting) 846 370 – –
================= ================= ================= =================
Deferred tax liabilities (before offsetting):
- property, plant and equipment (25) (4) – –
- land held for property development (9,948) (11,103) – –
- property development costs (5,995) (5,653) – –
- interest capitalised (4,475) (4,577) – –
- receivables – – (1,633) –
- interest receivable – (946) – (886)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(20,443) (22,283) (1,633) (886)
Offsetting 3,839 1,961 981 864
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Deferred tax liabilities (after offsetting) (16,604) (20,322) (652) (22)
================= ================= ================= =================
Subject to RPGT:
Deferred tax assets:
- property development costs 17,015 14,288 – –
================= ================= ================= =================
Deferred tax liabilities:
- property, plant and equipment (16,184) (16,184) – –
================= ================= ================= =================
The amount of unused tax losses (with no expiry date) for which no deferred tax asset is recognised in the balance sheet is as
follows:
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Tax losses 40,137 27,684 – –
================= ================= ================= =================
19 COMPLETED PROPERTIES
Completed properties with book value of RM35,289,050 (2004: RM16,807,043) have been pledged as security for borrowings
(Note 25).
UNITED MALAYAN LAND BHD