Page 140 - EXIM-BANK-AR20

138 EXIM BANK MALAYSIA
Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS

11. DEFERRED TAX (LIABILITIES)/ASSETS (CONT’D.)
Deferred tax liabilities (cont’d.)
ROU
assets and
accelerated
capital
Unrealised allowance Total
Other gain on on property taxable
temporary foreign and temporary
differences exchange equipment differences
RM’000 RM’000 RM’000 RM’000

Bank
At 1 January 2019 (22,259) 12,123 (3,849) (13,985)
Recognised in profit and loss 20,356 (12,123) (223) 8,010
At 31 December 2019 (1,903) - (4,072) (5,975)
Recognised in profit and loss 1,903 - (390) 1,513

At 31 December 2020 - - (4,462) (4,462)

Presented after appropriate offsetting as follows:
Group Bank
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000

Deferred tax assets 4,462 5,975 4,462 5,975
Deferred tax liabilities (4,462) (5,975) (4,462) (5,975)

- - - -

Deferred tax assets and liabilities are offset when there is a legally enforceable right to setoff current tax assets against current
tax liabilities and when the deferred taxes relate to the same taxation authority.
At the reporting date, the Group and the Bank have recognised deferred tax assets for the following items:

Group Bank
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000
Unutilised tax losses 18,595 24,900 18,595 24,900

Tax rate 24% 24% 24% 24%

4,463 5,976 4,463 5,976

The deferred tax assets have been recognised as at 31 December 2020 to the extent that the Group and the Bank have
sufficient taxable temporary differences to utilise.