96 MSC BERHAD Notes to the Financial Statements (cont’d) 21. Deferred Tax Liabilities (cont’d) The components and movements of deferred tax liabilities and assets are follows: (cont’d) Unutilised capital allowances Others Total Company RM RM RM Deferred tax assets 2024 At 1 July 2023 - (1,059,839) (1,059,839) Transfer upon corporate reorganisation exercise - 384,692 384,692 Recognised in profit or loss (4,431) 675,147 670,716 At 30 June 2024 (4,431) - (4,431) 2023 At 1 January 2022 - (822,877) (822,877) Recognised in profit or loss - (236,962) (236,962) At 30 June 2023 - (1,059,839) (1,059,839) Deferred tax assets have not been recognised in respect of the following items: Group Company 2024 2023 2024 2023 RM RM RM RM Unutilised tax losses 2,857,717 1,379,863 936,375 - Unutilised capital allowances 352,561 124,370 1,015 - Other deductible temporary differences 691 - 691 - 3,210,969 1,504,233 938,081 - Deferred tax assets have not been recognised in respect of these items as they may not have sufficient taxable profits to be used to offset or they have arisen in subsidiary companies that have a recent history of losses. 22. Trade Payables The normal trade credit term granted to the Group and to the Company ranged from 30 to 90 days (2023: 30 to 90 days) depending on the terms of the contracts. Included in trade payables of the Group and of the Company are an amount due to an associate amounting to RM107,462 and RMNil (2023: RM132,600 and RM132,600) respectively. The amount is unsecured, trade related with non-interest bearing and repayable on demand.
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