32 DEFERREDTAX LIABILITIES/(ASSETS) (CONTINUED) Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Deferred tax liabilities (before offsetting) - property, plant and equipment 22,960 18,971 48 72 - asset held for sale - 7,171 - - - right-of-use assets 639 720 - - - intangible assets 20,456 22,877 - - - receivables 271 - - - 44,326 49,739 48 72 Offsetting (4,415) (2,729) (48) (72) Deferred tax liabilities (after offsetting) 39,911 47,010 - - Deferred tax assets (before offsetting) - derivatives - 676 - - - payables and accruals 3,497 1,239 420 230 - lease liabilities 918 814 - - 4,415 2,729 420 230 Offsetting (4,415) (2,729) (48) (72) Deferred tax assets (after offsetting) - - 372 158 The amount of unused tax losses and deductible temporary differences (subject to approval by the Inland Revenue) for which no deferred tax assets are recognised in the statement of financial position of the Group as the Directors are of the view it is not probable that sufficient taxable profits will be available to allow the deferred tax assets to be utilised is as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Continuing operations Unused tax losses 304,711 291,268 - - Deductible temporary differences 107,642 61,533 - - 412,353 352,801 - - Discontinuing operation Unused tax losses - 17,669 - - NOTESTOTHE FINANCIAL STATEMENTS FORTHE FINANCIALYEAR ENDED 31 DECEMBER 2021 WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOWWE OPERATE MSM Malaysia Holdings Berhad ANNUAL INTEGRATED REPORT 2021 356
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