Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 132 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 16. DEFERRED TAX ASSETS/LIABILITIES The Group 2022 2021 RM RM Deferred tax assets At 1 January 1,909,744 2,602,639 Transfer from profit or loss (Note 9) (17,401) (819,663) Transfer to other comprehensive expenses (373,515) 7,499 Foreign currency translation differences (71,630) 119,269 At 31 December 1,447,198 1,909,744 Deferred tax liabilities At 1 January 615,155 447,902 Transfer to profit or loss (Note 9) 550,060 151,715 Foreign currency translation differences (23,665) 15,538 At 31 December 1,141,550 615,155 The net deferred tax liabilities and assets are in respect of the tax effects of the following: The Group Deferred Tax (Assets)/Liabilities 2022 2021 RM RM Temporary differences arising from property, plant and equipment (106,593) 9,132 Others (199,055) (1,303,721) (305,648) (1,294,589) As of 31 December 2022, the estimated amount of net deferred tax assets, calculated at the current tax rate which has not been recognised in the financial statements of the Group due to uncertainty of its realisation, is as follows: The Group Deferred Tax Assets 2022 2021 RM RM Unutilised tax losses 561,999 757,409 Temporary differences arising from property, plant and equipment 473,590 455,415 1,035,589 1,212,824 The unabsorbed capital allowances is allowed to be carried forward indefinitely, whereas, the unutilised tax losses of subsidiaries in other countries are subject to the agreement of the tax authorities and compliance with certain provisions of the tax legislation of the respective countries in which the subsidiaries operate.
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