NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 16. Deferred tax liabilities (cont’d) The components and movements of deferred tax liability during the financial year are as follows: Deferred tax liability - Group and Fund Investment properties RM At 1 January 2022 1,765,866 Recognised in profit or loss (103,325) At 31 December 2022 1,662,541 At 1 January 2021 2,534,162 Recognised in profit or loss (768,296) At 31 December 2021 1,765,866 The deferred tax liability relates to fair value gain on investment properties which is expected to be recovered through sale. The amount of deferred tax recognised is measured using the tax rates that would apply on the sale of those assets at their carrying values at the reporting date unless the property is held with the objective to consume substantially all the economic bene ts embodied in the property over time, rather than through sale. Based on the Finance Act 2019 which was gazetted in December 2019, it was clari ed that the RPGT rate of 10% is prescribed for disposal of investment properties held for more than 5 years for a trustee of a trust. 17. Islamic financing Group Fund 2022 2021 2022 2021 RM RM RM RM Non-current Commodity Murabahah Term Financing-i I (“Commodity Murabahah - I”) 80,000,000 80,000,000 80,000,000 80,000,000 Commodity Murabahah Term Financing-i II (“Commodity Murabahah - II”) 29,994,050 29,994,050 29,994,050 29,994,050 Commodity Murabahah Term Financing-i III (“Commodity Murabahah - III”) 580,000,000 580,000,000 580,000,000 580,000,000 Revolving Credit-i (“RC - I’’) 100,000,000 - 100,000,000 - Term Financing-i (“TF - I’’) 72,000,000 - 72,000,000 - 861,994,050 689,994,050 861,994,050 689,994,050 Less: Transaction costs (6,377,083) (6,117,083) (6,377,083) (6,117,083) Total (non-current) 855,616,967 683,876,967 855,616,967 683,876,967 179 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
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