FGV Audited Financial Statements 2019

199 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 2019 51 DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statement of financial position: Group Company 31.12.2019 RM’000 31.12.2018 RM’000 (Restated) 1.1.2018 RM’000 (Restated) 31.12.2019 RM’000 31.12.2018 RM’000 (Restated) 1.1.2018 RM’000 (Restated) Subject to income tax - Deferred tax assets 651,301 608,045 742,706 - 28,320 327 - Deferred tax liabilities (671,954) (735,370) (812,363) - - - The analysis of deferred tax assets and deferred tax liabilities is as follows: Group Company 31.12.2019 RM’000 31.12.2018 RM’000 (Restated) 1.1.2018 RM’000 (Restated) 31.12.2019 RM’000 31.12.2018 RM’000 (Restated) 1.1.2018 RM’000 (Restated) Deferred tax assets: - Deferred tax assets to be recovered after more than 12 months 543,994 475,206 628,184 - - - - Deferred tax assets to be recovered within 12 months 107,307 132,839 114,522 - 28,320 327 651,301 608,045 742,706 - 28,320 327 Deferred tax liabilities: - Deferred tax liabilities to be recovered after more than 12 months (672,275) (735,370) (816,123) - - - - Deferred tax liabilities to be recovered within 12 months 321 - 3,760 - - - (671,954) (735,370) (812,363) - - - Deferred tax (liabilities)/assets (net) (20,653) (127,325) (69,657) - 28,320 327