Ocean Sky International Limited - Ocean Sky International Ltd ...

24. DEFERRED TAXATION
Group
As at 31 December As at
1999 2000 2001 30 June 2002
$’000 $’000 $’000 $’000
Balance at beginning of financial year 94 194 274 643
Acquisition of subsidiaries 5 – – –
Foreign exchange differences – 1 2 (2)
Transfer from/(to) profit and loss account 95 79 367 (19)
Balance at end of financial year 194 274 643 622
Deferred taxation at balance sheet date represents timing differences between the tax written down
value and the net book value of the fixed assets computed at statutory income tax rate.
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