23. TAXATION (continued) Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Reconciliation of tax expense Profit before tax 13,150 1,971 725 5,139 Income tax using Malaysian tax rate of 24% (2022: 24%) 3,156 473 174 1,233 Non-deductible expenses 897 374 179 127 Non-taxable income (94) (242) (249) (1,360) Crystallisation of deferred tax (186) (146) - - Utilisation of previously unrecognised deferred tax assets (1,016) - - - Unrecognised deferred tax assets 172 35 - - Green investment tax allowance (166) - - - 2,763 494 104 - Over provision of current tax in prior years (7) (216) - - Under provision of deferred tax in prior years 226 852 - - 2,982 1,130 104 - Tax on each component of other comprehensive income is as follows: Item that will not be reclassified subsequently to profit or loss Group Before tax Tax effect After tax 2023 RM RM RM Revaluation gain on property, plant and equipment 6,548 (1,572) 4,976 2022 Net changes in fair value of equity investments designated at fair value through other comprehensive income (5) - (5) 24. EARNINGS PER ORDINARY SHARE (“EPS”) The calculation of basic EPS was based on the profit attributable to ordinary shareholders and a weighted average number of ordinary shares outstanding, calculated as follows: Group 2023 2022 Profit attributable to ordinary shareholders (RM’000) 10,168 841 Weighted average number of ordinary shares (‘000) 427,831 424,432 Basic earnings per ordinary share (sen) 2.38 0.20 Diluted earnings per ordinary share is calculated by dividing profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding, adjusted for the effects of dilutive potential ordinary shares. The effects of dilutive potential ordinary shares have been arrived at based on the assumption that ESOS are exercised and the ordinary shares to be issued are based on the assumed proceeds on the difference between average share price for the financial year and exercise price. ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 128 Financial Statements (continued)
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