BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...

72
(Company No.691431-D)
9. Deferred income (continued)
A) Developmental Grants (continued)
Biotechnology Acquisition Grant provides funding for the acquisition of enabling and platform technologies within the
biotechnology industry.
Biotechnology Commercialisation Grant provides funding to facilitate the establishment of biotechnology start-ups.
The Biotechnology Commercialisation Grant comprises Seed Funding, R&D Matching Funding and International Business
Development Matching Funding.
Biotechnology Entrepreneur Program seeks to develop biotechnology entrepreneurs by providing the necessary skill sets and
knowledge to commence, develop and manage new biotechnology ventures.
Biotechnology Entrepreneurship Training Program (“BeST”) is an intensive and structured training program for biotechnology
graduates to equip themselves with the necessary knowledge and skills with the aim to provide a competent workforce in the
industry.
B) Non-developmental Grants
The non-developmental grant received from the government is to finance the Company’s day-to-day operating
activities.
10. Deferred taxation
No deferred tax has been recognised for the following items:
2007 2006
RM RM
Unutilised tax losses 29,764,889 29,764,889
Temporary differences 1,543,812 583,290
31,308,701 30,348,179
The unutilised tax losses and deductible temporary differences do not expire under current tax legislation. Deferred tax assets
have not been recognised in respect of these items because it is not probable that future taxable profit will be available
against which the Company can utilise the benefits.