ANNUAL REPORT 2021 221 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 38. INCOME TAX EXPENSE (CONT’D) The Group acquired a subsidiary during the year which was granted pioneer status on 27 March 2017. The subsidiary will enjoy full exemption from income tax on its statutory income from pioneer activities from 19 October 2017 to 30 June 2021 of which the subsidiary has applied to complete the full five (5) years pioneer status period. No deferred tax assets are recognised in respect of the following items:- The Group The Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Unutilised tax losses 71,841 71,817 32,736 32,736 Unabsorbed capital allowances 15,649 36,217 12,571 34,239 Accelerated capital allowances (21,978) (9,635) (21,389) (11,667) Other provisions 4,640 7,031 705 967 70,152 105,430 24,623 56,275 39. EARNINGS PER SHARE The Group 2021 2020 Profit attributable to owners of the Company (RM’000) 315,940 268,656 Weighted average number of ordinary shares in issue:- Ordinary shares at 1 January 2021/2020 (‘000) 3,531,765 7,064,552* Effect of treasury shares buy-back (‘000) (21,027) (24,978)* Effect of new ordinary shares issued (‘000) - 12,226* Effect of new ordinary shares issued pursuant to bonus issue (‘000) 3,690,310 - Effect of new ordinary shares issued pursuant to DRP (‘000) 5,725 14,210* Effect of new ordinary shares issued pursuant to private placement (‘000) 36,721 9,836* Weighted average number of ordinary shares at 31 December 2021/2020 (‘000) 7,243,494 7,075,846* Basic earnings per share (Sen) 4.4 3.8 * - The weighted average number of ordinary shares in issue had been adjusted retrospectively, to reflect the Bonus Issue as though the Bonus Issue had been issued from the earliest period of these financial statements as required by MFRS 133 - Earnings Per Shares. The Company has not issued any dilutive potential ordinary shares and hence, the diluted earnings per share is equal to the basic earnings per share. 40. ACQUISITION OF SUBSIDIARIES On 1 May 2021, GVSB acquired 100% equity interests in NFT Creative. The acquisition of the subsidiaries is to enable the Group to expand its business into providing solutions and technical services and support related to application and software development.
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