Fraser & Neave Holdings Bhd Annual Report 2021

11. DEFERRED TAX ASSETS/#LIABILITIES$ RECOGNISED DEFERRED TAX ASSETS/#LIABILITIES$ Deferred tax assets and liabilities are attributable to the following: Assets Liabilities Net Group 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Property, plant and equipment 4 4 (94,441) (84,804) (94,437) (84,800) Right-of-use assets – – (12,683) (5,475) (12,683) (5,475) Investment properties 127 127 (651) (651) (524) (524) Intangible assets – – (3,624) – (3,624) – Employee benefit plans 8,882 10,253 – – 8,882 10,253 Tax loss carry-forwards and unutilised capital allowances 4,435 5,782 – – 4,435 5,782 Unutilised tax incentives 25,648 23,220 – – 25,648 23,220 Lease liabilities 13,243 5,556 – – 13,243 5,556 Provisions, contract liabilities and others 4,546 3,885 – – 4,546 3,885 Tax assets/(liabilities) 56,885 48,827 (111,399) (90,930) (54,514) (42,103) Set o! of tax (51,645) (42,857) 51,645 42,857 – – Net tax assets/(liabilities) 5,240 5,970 (59,754) (48,073) (54,514) (42,103) UNRECOGNISED DEFERRED TAX ASSETS Deferred tax assets have not been recognised in respect of the following items (stated at gross): Group 2021 RM’000 2020 RM’000 Unutilised reinvestment allowances 100,880 100,880 Unutilised capital allowances 6,220 6,220 Tax loss carry-forwards 3,251 3,251 110,351 110,351 Deferred tax assets have not been recognised in respect of these temporary di!erences because it is not probable that future taxable profit will be available against which subsidiaries of the Group can utilise the benefits therefrom. Unutilised reinvestment allowances of RM79,934,000 will expire in 2025 whilst the remaining amount of RM20,946,000 will expire in 2027. Tax losses can be carried forward up to 7 consecutive years of assessments and will expire in 2025. Unutilised capital allowances do not expire under the current tax legislation except that in the case of a dormant company, such allowances and losses will not be available to the company if there is change of 50% or more in the shareholdings thereof. 208 NOTES TO THE F INANCIAL STATEMENTS