As at reporting date 153557696 2017 153557696 free detachable Warrants 20092019

As at reporting date 153557696 2017 153557696 free

This preview shows page 136 - 140 out of 191 pages.

As at reporting date, 153,557,696 (2017: 153,557,696) free detachable Warrants 2009/2019 remain unexercised. (c) Retained earnings The entire retained earnings are available for distribution as single tier dividends. 30. DEFERRED TAX LIABILITIES/(ASSETS) Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 At 1 January 7,969 35,914 (182) - Revaluation of land acquisition from business combination 138,061 - - - Recognised in profit or loss (Note 12) (38,141) (27,945) (589) (182) At 31 December 107,889 7,969 (771) (182)
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TROPICANA CORPORATION BERHAD 186 ABOUT TROPICANA OUR STRATEGIC PERFORMANCE OUR LEADERSHIP SUSTAINABILITY AT TROPICANA NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 30. DEFERRED TAX LIABILITIES/(ASSETS) (CONT’D.) Deferred income tax as at 31 December relates to the following: Provision for liabilities Unused tax losses and unabsorbed capital allowances Unrealised profits from transactions Others Total RM’000 RM’000 RM’000 RM’000 RM’000 Group Deferred tax assets: At 1 January 2018 (18,606) (885) (25,655) (3,583) (48,729) Recognised in profit or loss (65,816) 742 (5,625) (1,506) (72,205) At 31 December 2018 (84,422) (143) (31,280) (5,089) (120,934) At 1 January 2017 (8,917) (841) (14,598) (1,819) (26,175) Recognised in profit or loss (9,689) (44) (11,057) (1,764) (22,554) At 31 December 2017 (18,606) (885) (25,655) (3,583) (48,729) Accelerated capital allowances Fair value adjustment on business combination Fair value changes to investment properties Property development costs Total RM’000 RM’000 RM’000 RM’000 RM’000 Group Deferred tax liabilities: At 1 January 2018 11,403 31,401 3,431 10,463 56,698 Acquisition of a subsidiary - 138,061 - - 138,061 Recognised in profit or loss (535) (72) 3,249 31,422 34,064 At 31 December 2018 10,868 169,390 6,680 41,885 228,823 At 1 January 2017 12,863 31,715 3,816 13,695 62,089 Recognised in profit or loss (1,460) (314) (385) (3,232) (5,391) At 31 December 2017 11,403 31,401 3,431 10,463 56,698
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ANNUAL REPORT 2018 187 WHAT WE’VE GOVERNED FINANCIAL STATEMENTS OTHER INFORMATION NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 30. DEFERRED TAX LIABILITIES/(ASSETS) (CONT’D.) Deferred income tax as at 31 December relates to the following: (cont’d.) Accelerated capital allowances RM’000 Company Deferred tax liability: At 1 January 2018 170 Recognised in profit or loss (40) At 31 December 2018 130 At 1 January 2017 - Recognised in profit or loss 170 At 31 December 2017 170 Provision for liabilities RM’000 Deferred tax asset: At 1 January 2018 (352) Recognised in profit or loss (549) At 31 December 2018 (901) At 1 January 2017 - Recognised in profit or loss (352) At 31 December 2017 (352) Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 Presented after appropriate offsetting as follows: Deferred tax assets (84,545) (48,955) (771) (182) Deferred tax liabilities 192,434 56,924 - - 107,889 7,969 (771) (182) The unused tax losses, unabsorbed capital allowances and other deductible temporary differences of the Group are available indefinitely for offsetting against future taxable profits of the respective entities within the Group, subject to no substantial change in shareholdings of those entities under the Income Tax Act, 1967 and guidelines issued by the tax authority.
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TROPICANA CORPORATION BERHAD 188 ABOUT TROPICANA OUR STRATEGIC PERFORMANCE OUR LEADERSHIP SUSTAINABILITY AT TROPICANA NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 31. BORROWINGS Group Company 2018 RM’000 2017 RM’000 2018 RM’000 2017 RM’000 Current Secured: Bridging loans 3,653 12,209 - - Revolving credits 363,796 310,840 204,724 195,250 Term loans 252,993 360,985 66,442 89,521 Hire purchase (Note 31(a)) 1,002 1,611 68 -
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