MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...

Notes to The Financial Statements (cont’d)
10. DEfERRED TAXATIoN (CoNT’D)
The components and movements of deferred tax liabilities and assets during the financial year prior to offsetting are as
follows:-
(a) Deferred Tax Assets
Unrealised profit
arising from
development
activities
RM
At 1st January 2010 (3,240,279)
Recognised in profit or loss (453,844)
At 31st December 2010/1st January 2011 (3,694,123)
Recognised in profit or loss 122,246
At 31st December 2011 (3,571,877)
(b) Deferred Tax liabilities
Revaluation
of land
Accelerated
capital
allowances Total
RM RM RM
At 1st January 2010 2,030,722 1,417,524 3,448,246
Recognised in profit or loss (2,030,722) 1,260,825 (769,897)
Exchange differences - (132,838) (132,838)
At 31st December 2010/ 1st January 2011 - 2,545,511 2,545,511
Recognised in profit or loss - 153,453 153,453
Exchange differences - 26,987 26,987
At 31st December 2011 - 2,725,951 2,725,951
Deferred tax assets have not been recognised in respect of the following items:-
Group
2011 2010
RM RM
Unused tax losses 7,505,447 8,301,062
Unabsorbed capital allowances 7,541,463 7,045,044
15,046,910 15,346,106
The availability of the unused tax losses and unabsorbed capital allowances for offsetting against future taxable
profits of the respective subsidiaries are subject to no substantial changes in shareholdings of those subsidiaries
under Section 44(5A) and (5B) of Income Tax Act,1967 and guidelines issued by the tax authorities. Deferred tax
assets have not been recognised in respect of these items as they may not be used to offset against taxable profits
of other subsidiaries in the Group and they have arisen in subsidiaries that have a recent history of losses.
MITRAJAYA HOLDINGS BERHAD ANNUAL REPORT 2011
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