271 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 12. Finance costs Group Company 2022 2021 2022 2021 RM million RM million RM million RM million Bank charges 11 6 1 1 Interest expenses: - Loans and borrowings 304 262 61 39 - Lease liabilities 2 2 - - Cash flow hedge reclassified to profit or loss 66 53 - - Unwinding of notional interest (Note 35(c)) 5 - - - 388 323 62 40 Less: Interest expenses capitalised in property, plant and equipment (Note 16(c)) - (4) - - 388 319 62 40 Interest expenses on general financing amounting to RM4 million were capitalised during the previous financial year. 13. Income tax expense Major components of income tax expense The major components of income tax expense for the financial years ended 31 January 2022 and 2021 are: Group Company 2022 2021 2022 2021 RM million RM million RM million RM million Income statements Current income tax - Malaysian income tax 13 14 1 - - Foreign tax 88 72 - - - Under/(Over) provision in prior years 2 (12) 1 - 103 74 2 - Deferred tax (Note 34): - Relating to origination/reversal of temporary differences 89 94 - - 192 168 2 -
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