YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 240 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 12. FINANCE COSTS Group Company 2024 RM million 2023 RM million 2024 RM million 2023 RM million Bank charges 8 5 - - Interest expenses: - Loans and borrowings 1,118 568 59 57 - Lease liabilities 8 6 1 - - Due to subsidiaries - - 64 58 Cash flow hedge reclassified to profit or loss (180) (10) - - Unwinding of notional interest (Note 35(d)) 9 8 - - 963 577 124 115 13. INCOME TAX EXPENSE Major components of income tax expense The major components of income tax expense for the financial years ended 31 January 2024 and 2023 were: Group Company 2024 RM million 2023 RM million 2024 RM million 2023 RM million Income statements Current income tax - Malaysian income tax 21 18 2 5 - Foreign tax 312 139 - - - Under provision in prior years 20 1 - - 353 158 2 5 Deferred tax (Note 34): - Relating to origination/reversal of temporary differences 200 109 - - 553 267 2 5
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