Annual Report 2012 - ecoWise Holdings Limited

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94ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS12. INCOME TAX EXPENSE (CONTINUED)12B. Movements in Deferred Tax Liabilities in the Statements of Financial PositionAt1 November2010Recognisedin profitor lossExchangedifferencesAt31 October2011Recognisedin profitor lossExchangedifferencesAt31 October2012$’000 $’000 $’000 $’000 $’000 $’000 $’000GroupProperty, plant andequipment (2,380) (158) 49 (2,489) 65 (242) (2,666)Intangible assets (496) 26 13 (457) 26 7 (424)Unutilised tax losses 577 337 – 914 201 88 1,203Unutilised capitalallowances 371 (370) – 1 149 40 190Other items 101 231 – 332 22 68 422Deferred tax assetsvaluation allowance (839) (126) (36) (1,001) (419) 73 (1,347)(2,666) (60) 26 (2,700) 44 34 (2,622)At1 November2010Recognisedin profitor lossAt31 October2011Recognisedin profitor lossAt31 October2012$’000 $’000 $’000 $’000 $’000CompanyProperty, plant and equipment (20) – (20) 20 –
ecoWise Holdings Limitedannual report 20129531 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS12. INCOME TAX EXPENSE (CONTINUED)12C. Unrecognised Deferred Tax Assets2012 2011GrossamountTaxeffectGrossamountTaxeffect$’000 $’000 $’000 $’000GroupCapital allowances carryforwards 760 190 179 43Tax losses carryforwards 4,900 1,084 4,177 922Others 297 73 146 365,957 1,347 4,502 1,001No deferred tax asset has been recognised in respect of the above balance as the future profit streams arenot probable. Except for tax loss carryforwards in a subsidiary amounting to approximately $741,000 (2011:$566,000) as at the end of the reporting year which expires between 1 to 5 years (2011: 1 to 5 years), therealisation of the future income tax benefits from these tax loss carryforwards is available for an unlimitedfuture period subject to the conditions imposed by laws of the countries in which the companies in the Groupoperates, including the retention of majority shareholders as defined.
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ANNUAL REPORT 2012PURSUINGSUSTAINAB
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Annual Report 2012 - ecoWise Holdings Limited

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