FGV Annual Report 2014

48 Deferred Taxation (continued) Group Company 2014 2013 2014 2013 RM’000 RM’000 (Restated) RM’000 RM’000 Deferred tax liabilities – intangible assets (42,652) (43,203) (1,173) (665) – investment properties 1,961 – (491) – – property, plant and equipment (812,834) (812,742) (635) (816) – prepaid lease payments (2,306) (2,306) – – – biological assets (38,083) (18,010) – – – receivables (3,824) (2,864) – – – inventories (491) (11,616) – – – others (2,731) (1,402) – – Amount before offsetting (900,960) (892,143) (2,299) (1,481) Offsetting 166,775 148,224 2,299 1,481 (734,185) (743,919) – – The amount of deductible temporary differences and unused tax losses (a portion of which have expiry dates ranging from 2029 to 2032 (2013: ranging from 2029 to 2032)) for which no deferred tax assets are recognised in the statement of financial position by certain subsidiaries 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 2014 2013 RM’000 RM’000 Unused tax losses 401,431 369,431 49 Financial Guarantee Contract Company In the previous financial year, the financial guarantee contract relates to financial guarantee contract provided by the Company to provide funding for all of a related company’s obligations under the promissory note in the event of default (Note 26). The financial guarantee has been derecognised in the current financial year following the full settlement of the promissory note. Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 309