Wah Seong Corporation Berhad Annual Report 2021 180 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 34 TAX EXPENSE/(CREDIT) (CONTINUED) The numerical reconciliation between the tax expense and the product of accounting profit multiplied by the statutory tax rate is as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Loss before tax (100,341) (268,024) (1,308) (97,730) Calculated at the Malaysian tax rate of 24% (2020: 24%) on loss before tax (24,082) (64,326) (314) (23,455) Expenses not deductible for tax purposes 32,903 70,926 5,671 30,763 Income not subject to tax (10,397) (11,094) (5,465) (6,579) Utilisation of previously unrecognised tax losses and unabsorbed capital allowances (5,764) (3,301) - - Current financial year deferred tax assets not recognised 2,451 8,713 - - Reversal of previously recognised deferred tax assets 617 20,781 - - Utilisation of tax incentives (1,053) (318) - - Effect of different tax rates in other countries (600) 15,604 - - Under/(Over) provision in prior financial years 535 (1,790) (416) 211 Share of associates and joint ventures results 16,881 3,071 - - Others 117 412 - - Tax expense/(credit) recognised in profit or loss 11,608 38,678 (524) 940 35 LOSS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY The basic earnings per share for the financial year has been calculated by dividing the Group’s loss attributable to owners of the Company for the financial year of RM107,484,000 (2020: RM295,149,000) by the weighted average number of ordinary shares in issue, after adjusting on the effects of treasury shares during the financial year. Weighted average number of shares Group 2021 2020 ’000 ’000 Issued ordinary shares at 1 January 774,888 774,888 Effect of treasury shares (577) (1,608) Weighted average number of ordinary shares in issue 774,311 773,280 Basic earnings per ordinary share (sen) (13.88) (38.17) As there are no potential ordinary shares issued by the Company, thus there is no dilution in earnings per share.
RkJQdWJsaXNoZXIy NDgzMzc=