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356 MSM MALAYSIA HOLDINGS BERHAD WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOW WE OPERATE
ANNUAL INTEGRATED REPORT 2021

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

32 DEFERRED TAX LIABILITIES/(ASSETS) (CONTINUED)
Group Company
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000

Deferred tax liabilities (before offsetting)
- property, plant and equipment 22,960 18,971 48 72
- asset held for sale - 7,171 - -
- right-of-use assets 639 720 - -
- intangible assets 20,456 22,877 - -
- receivables 271 - - -
44,326 49,739 48 72
Offsetting (4,415) (2,729) (48) (72)
Deferred tax liabilities (after offsetting) 39,911 47,010 - -

Deferred tax assets (before offsetting)
- derivatives - 676 - -
- payables and accruals 3,497 1,239 420 230
- lease liabilities 918 814 - -
4,415 2,729 420 230
Offsetting (4,415) (2,729) (48) (72)
Deferred tax assets (after offsetting) - - 372 158
The amount of unused tax losses and deductible temporary differences (subject to approval by the Inland Revenue) for which
no deferred tax assets are recognised in the statement of financial position of the Group as the Directors are of the view it is
not probable that sufficient taxable profits will be available to allow the deferred tax assets to be utilised is as follows:
Group Company
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000
Continuing operations
Unused tax losses 304,711 291,268 - -
Deductible temporary differences 107,642 61,533 - -
412,353 352,801 - -
Discontinuing operation
Unused tax losses - 17,669 - -