KENANGA ANNUAL REPORT 2020

218 5 1 2 3 4 6 7 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 19. DEFERRED TAXATION (CONT’D.) Deferred tax assets and liabilities prior to offsetting are summarised as follows: Group Bank 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 Deferred tax assets 30,051 17,290 24,288 14,159 Deferred tax liabilities (15,924) (15,025) (15,566) (14,816) 14,127 2,265 8,722 (657) The components and movements of deferred tax assets and liabilities during the financial year prior to offsetting are as follows: Deferred tax liabilities of the Group: Fair value reserve RM’000 Excess of capital allowances over depreciation RM’000 Right-of-use asset RM’000 Total RM’000 At 1 January 2020 (3,317) (6,009) (5,699) (15,025) Recognised in profit or loss - (74) 578 504 Recognised in other comprehensive income (1,403) - - (1,403) At 31 December 2020 (4,720) (6,083) (5,121) (15,924) At 1 January 2019 - (6,454) - (6,454) Acquisition of a subsidiary - (133) - (133) Recognised in profit or loss - 578 (5,699) (5,121) Recognised in other comprehensive income (3,317) - - (3,317) At 31 December 2019 (3,317) (6,009) (5,699) (15,025) Deferred tax assets of the Group: Fair value reserve RM’000 Impairment allowance and provisions RM’000 Unabsorbed capital allowances and tax losses RM’000 Lease liabilities RM’000 Total RM’000 At 1 January 2020 152 10,306 1,207 5,625 17,290 Recognised in profit or loss - 14,301 (1,061) (479) 12,761 At 31 December 2020 152 24,607 146 5,146 30,051