Frontken Berhad Annual Report 2023

Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 126 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 16. DEFERRED TAX ASSETS/LIABILITIES The Group 2023 2022 RM RM Deferred tax assets At 1 January 1,447,198 1,909,744 Transfer from profit or loss (Note 9) (5,398) (17,401) Transfer to other comprehensive expenses (148,994) (373,515) Foreign currency translation differences 51,557 (71,630) At 31 December 1,344,363 1,447,198 Deferred tax liabilities At 1 January 1,141,550 615,155 Transfer (from)/to profit or loss (Note 9) (144,883) 550,060 Transfer to other comprehensive expenses (117,230) - Foreign currency translation differences 32,210 (23,665) At 31 December 911,647 1,141,550 The net deferred tax liabilities and assets are in respect of the tax effects of the following: The Group Deferred Tax (Assets)/Liabilities 2023 2022 RM RM Temporary differences arising from property, plant and equipment 237,706 129,775 Others (670,422) (435,423) (432,716) (305,648) As of 31 December 2023, 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 2023 2022* RM RM Temporary differences arising from property, plant and equipment 354,942 409,272 * The comparative figure has been restated to reflect the revised temporary differences available to the Group.

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