Yinson Annual Report 2019
Yinson Holdings Berhad ANNUAL REPORT 2019 154 13. INCOME TAX EXPENSE (CONTINUED) Reconciliation between tax expense and accounting profit: The reconciliation between tax expense and the product of accounting profit multiplied by the applicable tax rates for the financial years ended 31 January 2019 and 2018 are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Profit before tax 343,861 361,770 245,764 87,791 Tax at Malaysian statutory tax rate of 24% (2018: 24%) 82,527 86,825 58,983 21,070 Income not subject to tax (4,297) (6,591) (108,930) (27,684) Expenses not deductible for tax purposes 71,525 54,568 50,422 6,898 Different tax rates of subsidiaries (68,774) (54,908) – – Changes in deferred tax asset not recognised (360) 231 – – Shared of profit of joint ventures and associates (3,125) (10,437) – – Under/(over) provision of tax expense in prior years 1,986 9 (140) 122 Income tax expense recognised in profit or loss 79,482 69,697 335 406 Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2018: 24%) of the estimated assessable profit for the financial year. Taxation for other jurisdictions arecalculatedat the ratesprevailing in the respective jurisdictions. Theabove reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction. 14. EARNINGS PER SHARE (a) Basic Basic earnings per share amounts are calculated by dividing profit attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the financial year excluding ordinary shares purchased by the Company and held as treasury shares (Note 28). Group 2019 2018 Profit attributable to owners of the Company used in the computation of basic earnings per share (RM’000) 234,896 292,179 Weighted average number of ordinary shares for computation of basic earnings per share (’000) 1,095,957 1,088,201 Basic earnings per share (sen) 21.4 26.8 The weighted average number of shares takes into account the weighted average effect of changes in ordinary shares transactions during the financial year. For the financial year ended 31 January 2019 Notes to the financial statements (cont’d)
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