GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 113 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 19. DEFERRED TAX (cont’d) (b) The components and movements of deferred tax liabilities and assets during the financial year prior to offsetting are as follows (cont’d): Deferred tax assets of the Group Unabsorbed capital allowances Unused tax losses Others Total RM RM RM RM Balance as at 1 January 2018 (3,637,550) (999,326) (1,850,242) (6,487,118) Recognised in profit or loss 40,073 - (401,749) (361,676) Exchange differences - - (22,758) (22,758) Balance as at 31 December 2018 (before offsetting) (3,597,477) (999,326) (2,274,749) (6,871,552) Offsetting 3,567,719 205,572 997,098 4,770,389 Balance as at 31 December 2018 (after offsetting) (29,758) (793,754) (1,277,651) (2,101,163) Balance as at 1 January 2017 (3,714,716) (922,527) (1,708,063) (6,345,306) Recognised in profit or loss 77,166 (76,799) 275,205 275,572 Exchange differences - - (417,384) (417,384) Balance as at 31 December 2017 (before offsetting) (3,637,550) (999,326) (1,850,242) (6,487,118) Offsetting 3,607,792 205,572 1,174,027 4,987,391 Balance as at 31 December 2017 (after offsetting) (29,758) (793,754) (676,215) (1,499,727) Deferred tax liabilities of the Company Property, plant and equipment Intangible assets Total RM RM RM Balance as at 1 January 2018 185,636 19,661 205,297 Recognised in profit or loss (17,960) (3,276) (21,236) Balance as at 31 December 2018 (before offsetting) 167,676 16,385 184,061 Offsetting (112,897) (16,385) (129,282) Balance as at 31 December 2018 (after offsetting) 54,779 - 54,779 Balance as at 1 January 2017 146,586 8,117 154,703 Recognised in profit or loss 39,050 11,544 50,594 Balance as at 31 December 2017 (before offsetting) 185,636 19,661 205,297 Offsetting (49,616) (19,661) (69,277) Balance as at 31 December 2018 (after offsetting) 136,020 - 136,020