Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 170 34 FINANCE COSTS Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Interest expense on: - loans and borrowings 41,897 29,907 7,427 3,575 35 TAX EXPENSE Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Current tax: - Malaysian income tax 10,173 19,076 1,988 1,806 - Foreign taxation 22,722 3,251 - - 32,895 22,327 1,988 1,806 Deferred taxation (Note 14) (24,933) (13,637) 113 (1,146) 7,962 8,690 2,101 660 Current tax: - Current financial year 36,959 20,245 1,800 1,500 - (Over)/Under accrual in prior financial years (4,064) 2,082 188 306 32,895 22,327 1,988 1,806 Deferred taxation (Note 14) - Origination and reversal of temporary differences (24,933) (13,637) 113 (1,146) Tax expense recognised in profit or loss 7,962 8,690 2,101 660