Tropicana Corporation Berhad Annual Report 2020

31. DEFERRED TAX LIABILITIES/(ASSETS) Group Company 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 At 1 January 393,707 107,889 (811) (771) Acquisition of subsidiaries – 314,204 – – Recognised in profit or loss (Note 12) 27,308 (28,386) 114 (40) At 31 December 421,015 393,707 (697) (811) Deferred income tax as at 31 December relates to the following: Unused tax losses and unabsorbed Unrealised Contract Provision capital profit from liabilities for liabilities allowances transactions Others Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Group Deferred tax assets: At 1 January 2020 (17,745) (95,836) (6,011) (39,012) (2,574) (161,178) Recognised in profit or loss 2,781 22,563 (49,232) – (24,668) (48,556) At 31 December 2020 (14,964) (73,273) (55,243) (39,012) (27,242) (209,734) At 1 January 2019 – (84,422) (143) (31,280) (5,089) (120,934) Acquisition of subsidiaries – – (14,059) – – (14,059) Recognised in profit or loss (17,745) (11,414) 8,191 (7,732) 2,515 (26,185) At 31 December 2019 (17,745) (95,836) (6,011) (39,012) (2,574) (161,178) Fair value Fair value Accelerated adjustment changes to Property capital on business investment development allowances combination properties costs Total RM'000 RM'000 RM'000 RM'000 RM'000 Group Deferred tax liabilities: At 1 January 2020 9,453 497,653 5,168 42,611 554,885 Recognised in profit or loss (11,133) – 51,826 35,171 75,864 At 31 December 2020 (1,680) 497,653 56,994 77,782 630,749 At 1 January 2019 10,868 169,390 6,680 41,885 228,823 Acquisition of a subsidiary – 328,263 – – 328,263 Recognised in profit or loss (1,415) – (1,512) 726 (2,201) At 31 December 2019 9,453 497,653 5,168 42,611 554,885 31. DEFERRED TAX LIABILITIES/(ASSETS) (CONT'D.) Deferred income tax as at 31 December relates to the following: (cont'd.) Provision for liabilities RM'000 Company Deferred tax asset: At 1 January 2020 (900) Recognised in profit or loss 141 At 31 December 2020 (759) At 1 January 2019 (901) Recognised in profit or loss 1 At 31 December 2019 (900) Accelerated capital allowances RM'000 Deferred tax liability: At 1 January 2020 89 Recognised in profit or loss (27) At 31 December 2020 62 At 1 January 2019 130 Recognised in profit or loss (41) At 31 December 2019 89 Group Company 2020 2019 2020 2019 RM'000 RM'000 RM'000 RM'000 Presented after appropriate offsetting as follows: Deferred tax assets (122,862) (111,348) (697) (811) Deferred tax liabilities 543,877 505,055 – – 421,015 393,707 (697) (811) NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 260 261