notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
14 OTHER INTANGIBLE ASSETS (CONTINUED)
Technical know-how has an unamortised useful life of 1 year (2013: 2 years). Trademark has an indefinite useful life. The intellectual property had been fully amortised
in the previous financial year end.
The amortisation of technical know-how is included in “Administrative and general expenses” line item within profit or loss.
15 DEFERRED TAX ASSETS/(LIABILITIES)
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 statements of financial position:
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Deferred tax assets
19,185
10,437
1,029
1,029
Deferred tax liabilities
(9,919)
(9,916)
-
-
9,266
521
1,029
1,029
At 1 January
521
4,001
1,029
1,029
Credited to/(charged to) profit or loss (Note 40):
- Unused tax losses
(1,678)
358
-
-
- Property, plant and equipment
662
(1,914)
-
-
- Provisions and accruals
8,439
1,845
-
-
- Incentives
(1,774)
2,654
-
-
- Others
900
(3,265)
-
-
6,549
(322)
-
-
Acquisition of subsidiaries
1,699
(3,334)
-
-
Effect of exchange rate changes
497
176
-
-
At 31 December
9,266
521
1,029
1,029
120
Wah Seong Corporation Berhad • Annual Report 2014
