TANJUNG OFFSHORE BERHAD

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NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2009 24. TAXATION 99 TANJUNG OFFSHORE BERHAD (662315-U) ANNUAL REPORT 2009 GROUP COMPANY 2009 2008 2009 2008 RM RM RM RM Current year provision 1,386,453 2,976,000 145,923 300,000 Under/(Over) provision in previous year 587,940 (91,288) - - 1,974,393 2,884,712 145,923 300,000 Deferred tax relating to the origination and reversal of temporary differences (Note 9) (1,404,913) (721,000) - - 569,480 2,163,712 145,923 300,000 Share of taxation of associate company 588,690 613,302 - - Tax expense for the year 1,158,170 2,777,014 145,923 300,000 A reconciliation of income tax expense applicable to profi t before taxation at the statutory income tax rate to income tax expense at the effective income tax rate of the Group and of the Company is as follow: GROUP COMPANY 2009 2008 2009 2008 RM RM RM RM Profi t before taxation 4,774,584 34,225,442 12,700,575 5,189,253 Taxation at Malaysian statutory tax rate of 25% (2008: 26%) 1,193,646 8,898,615 3,175,144 1,349,206 Tax effect on expenses that are not deductible for tax purposes 15,128,016 8,450,798 389,529 315,794 Utilisation of capital allowances (11,516,459) (13,008,413) - - Recognition of deferred tax assets (1,404,913) (721,000) - - Income not subject to tax (3,418,750) (1,365,000) (3,418,750) (1,365,000) Under/(Over) provision in previous year 587,940 (91,288) - - 569,480 2,163,712 145,923 300,000 Share of taxation of associate company 588,690 613,302 - - Income tax expense for the year 1,158,170 2,777,014 145,923 300,000
TANJUNG OFFSHORE BERHAD (662315-U) ANNUAL REPORT 2009 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2009 25. EARNINGS PER SHARE a) Basic The basic earnings per share is calculated by dividing the Group’s net profi t attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares in issue during the current fi nancial year, excluding ordinary shares purchased by the Company and held as treasury shares. 2009 2008 RM RM Net profi t attributable to ordinary equity holders of the parent 3,075,694 31,378,546 Weighted average number of ordinary shares (unit) 245,525,478 214,419,864 100 CENT CENT Basic earnings per share 1.25 14.63 b) Diluted For the diluted earnings per share calculation, the weighted average numbers of ordinary shares in issue during the current fi nancial year have been adjusted for the dilutive effects of potential ordinary shares in respect of warrants and share options granted to the employees. 2009 2008 RM RM Net profi t attributable to ordinary equity holders of the parent 3,075,694 31,378,546 Weighted average number of ordinary shares (unit) 245,525,478 214,419,864 ESOS: Number of unissued shares (unit)* - 14,691,000 Warrants: Number of unexercised warrants (unit) 35,884,000 76,879,901 Diluted weighted average number of ordinary shares (unit) 250,082,000 234,829,714 CENT CENT Dilluted earnings per share 1.23 13.36 * The diluted earnings per ordinary share is not presented as the computation would result in anti-dilutive earnings per ordinary share. 26. DIVIDEND 2009 2008 Gross Gross dividend Dividend net dividend Dividend net per share of tax per share of tax RM RM RM RM Final dividend in respect of the fi nancial year ended 31 December 2007 Final dividend in respect of the fi nancial year - - 0.03 4,540,500 ended 31 December 2008 0.02 3,663,302 - - Interim dividend in respect of the fi nancial year ended 31 December 2009 0.04 7,326,606 - - The directors do not recommend any fi nal dividend in respect of the current fi nancial year. 10,989,908 4,540,500
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