Annual Report 2012 - IOI Group

NOTES TO THEFINANCIAL STATEMENTS11. TAXATION (Continued)The amount of tax savings arising from the utilisation of brought forward unutilised tax losses of the Group amounted toapproximately RM262,000 (2011 – RM395,000).Subject to agreement with the tax authorities, certain subsidiaries of the Group have unutilised tax losses of approximatelyRM76,300,000 (2011 – RM77,348,000), for which the related tax effects have not been recognised in the financial statements. Theselosses are available to be carried forward for set off against future chargeable income when these subsidiaries derive futureassessable income of a nature and amount sufficient for the tax losses to be utilised.Malaysian income tax is calculated at the statutory rate of 25% (2011 – 25%) of the estimated assessable profit for the year. Taxationfor other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. Deferred tax is calculated on temporarydifferences between the tax base of assets and liabilities and their carrying amounts in the financial statements.12. EARNINGS PER ORDINARY SHAREBasic earnings per ordinary shareThe basic earnings per ordinary share of the Group is calculated based on the profit for the financial year attributable to owners ofthe parent divided by the weighted average number of ordinary shares in issue during the financial year, after taking intoconsideration of treasury shares held by the Company.Group2012 2011Profit for the financial year attributable to owners of the parent (RM’000) 1,789,370 2,222,899Weighted average number of ordinary shares of RM0.10 each in issue afterdeducting the treasury shares (’000) 6,399,397 6,396,303Basic earnings per ordinary share (sen) 27.96 34.75160IOI CORPORATION BERHADAnnual Report 2012