Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 8 DEFERRED TAX ASSETS/(LIABILITIES) (CONTINUED) The Group’s accumulated unused tax losses, for which no deferred tax assets were recognised on, can be carried forward for another 10 consecutive years (2022: 10 consecutive years) of assessment (“YA”) effective from YA2018. Group Expiring in 2023 2022 RM’000 RM’000 Unused tax losses - YA2018 YA2028 46,003 50,136 - YA2019 YA2029 8,611 21,192 - YA2020 YA2030 4,341 19,803 - YA2021 YA2031 146 5,496 - YA2022 YA2032 8 8 - YA2023 YA2033 9,333 - 68,442 96,635 9 INVESTMENT IN SUBSIDIARIES Company 2023 2022 RM’000 RM’000 Unquoted shares, at cost 926,190 923,730 Accumulated impairment losses (190,095) (186,306) 736,095 737,424 The movements in the allowance for impairment losses of investment in subsidiaries during the financial year are as follows: Company 2023 2022 RM’000 RM’000 At 1 January 186,306 181,650 Impairment loss recognised 3,789 4,656 190,095 186,306 For the financial year ended 31 December 2023, due to the uncertainty of the future economic condition, the investment in certain subsidiaries of the Company was not expected to be recovered. The recoverable amount was RM771,000 (2022: RM2,009,000), determined through the higher of value in use or fair value less cost to sell. As a result, an impairment loss of RM3,789,000 (2022: RM4,656,000) was recognised in the profit and loss. 207 Wasco Berhad
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