2020 UEM Edgenta Annual Report

29. DEFERRED TAX (CONTD.) The components and movements of deferred tax assets and liabilities during the financial year prior to offsetting are as follows: (contd.) Deferred tax liabilities of the Group: RM’000 Property, plant and equipment Intangible assets Concession receivable and others Total At 1 January 2020 2,621 27,595 24,401 54,617 Recognised in profit or loss (971) (2,884) 2,832 (1,023) Exchange differences – 239 – 239 1,650 24,950 27,233 53,833 Less: Set off with deferred tax assets (9,707) At 31 December 2020 44,126 At 1 January 2019 6,500 30,620 20,245 57,365 Recognised in profit or loss (3,879) (3,066) 4,156 (2,789) Exchange differences – 41 – 41 2,621 27,595 24,401 54,617 Less: Set off with deferred tax assets (4,226) At 31 December 2019 50,391 The Group offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority. UEM EDGENTA BERHAD 274 Financial Statements NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020