Sasbadi Annual Report 2018

ANNUAL REPORT 2018 FINANCIAL STATEMENTS 111 12. Loans and borrowings (continued) 12.2 Term loans The term loans of the Group are secured by charges over the land and buildings (Note 3), investment properties (Note 4), land and building of a company owned by a former director of a subsidiary, corporate guarantees by the Company and letter of negative pledge. 12.3 Bank overdrafts The bank overdrafts of the Group are secured by charges over the land and buildings (Note 3), pledged deposits (Note 10.1), corporate guarantees by the Company, land and building of a company owned by a former director of a subsidiary, and letter of negative pledge. 12.4 Bankers’ acceptances The bankers’ acceptances are secured by charges over the land and buildings (Note 3), corporate guarantees by the Company and letter of negative pledge. 13. Deferred tax assets/(liabilities) Recognised deferred tax assets/(liabilities) Deferred tax assets/(liabilities) are attributable to the following: Assets Liabilities Net 2018 2017 2018 2017 2018 2017 Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Property, plant and equipment - capital allowance 54 66 (426) (348) (372) (282) - revaluation - - (7,112) (4,305) (7,112) (4,305) Intangible assets - - (2,253) (2,435) (2,253) (2,435) Tax losses 419 1,015 - - 419 1,015 Provisions 2,604 952 - (39) 2,604 913 Tax assets/(liabilities) 3,077 2,033 (9,791) (7,127) (6,714) (5,094) Set off of tax (1,850) (664) 1,850 664 - - 1,227 1,369 (7,941) (6,463) (6,714) (5,094)