GHL System Berhad Annual Report 2020

133 a n n u a l r e p o r t 2 0 2 0 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 CONT’D 18. 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: Deferred tax liabilities of the Group Property, plant and equipment Intangible assets Others Total RM RM RM RM Balance as at 1 January 2020 8,817,628 168,212 939,421 9,925,261 Recognised in profit or loss (109,906) 4,923 (520,094) (625,077) Exchange differences - - 21,957 21,957 Balance as at 31 December 2020 (before offsetting) 8,707,722 173,135 441,284 9,322,141 Offsetting (4,870,647) 27,329 - (4,843,318) Balance as at 31 December 2020 (after offsetting) 3,837,075 200,464 441,284 4,478,823 Balance as at 1 January 2019 8,753,701 159,492 13,687 8,926,880 Recognised in profit or loss 63,927 8,720 919,303 991,950 Exchange differences - - 6,431 6,431 Balance as at 31 December 2019 (before offsetting) 8,817,628 168,212 939,421 9,925,261 Offsetting (5,003,135) (26,550) - (5,029,685) Balance as at 31 December 2019 (after offsetting) 3,814,493 141,662 939,421 4,895,576