Yinson Annual Report 2019

Yinson Holdings Berhad ANNUAL REPORT 2019 188 34. UNFAVOURABLE CONTRACTS Group 2019 2018 RM’000 RM’000 Cost At 1 February 108,040 121,612 Exchange differences 5,038 (13,572) At 31 January 113,078 108,040 Accumulated amortisation At 1 February 84,657 73,791 Amortisation (Note 7) 19,436 20,435 Exchange differences 4,079 (9,569) At 31 January 108,172 84,657 Net carrying amount 4,906 23,383 Amount to be amortised: - Current 4,906 18,713 - Non-current – 4,670 4,906 23,383 The unfavourable contracts represent the fair value of the services contracts embedded in the time charter contracts, determined at the time of the acquisition of subsidiaries, which were recognised as liabilities. Subsequently, these are measured at amortised cost over the contract period. 35. DEFERRED TAX LIABILITIES Group 2019 2018 RM’000 RM’000 At 1 February 42 5,450 Acquisition of a subsidiary – 16 Recognised in profit or loss (Note 13) 498 (5,214) Exchange differences 6 (210) At 31 January 546 42 For the financial year ended 31 January 2019 Notes to the financial statements (cont’d)