Page 216 - MSM_AR2020

CHAIRMAN’S DELIVERING MSM MANAGEMENT DISCUSSION GROUP FINANCIAL
STATEMENT VALUE OVERVIEW & ANALYSIS REPORT

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

32 DEFERRED TAX LIABILITIES/(ASSETS) (CONTINUED)

Under the Malaysia Finance Act 2018 which was gazetted on 27 December 2018, unutilised tax losses will be imposed with
a limit of utilisation for 7 consecutive years as below:
Group
2020 2019
RM’000 RM’000
Continuing operations
Expiring in 2026 224,725 224,725
Expiring in 2027 88,190 -
214
312,915 224,725
MSM MALAYSIA HOLDINGS BERHAD Annual Report 2020
Discontinuing operation
Expiring in 2025 9,252 9,252
Expiring in 2026 5,801 5,801
Expiring in 2027 2,616 -
17,669 15,053

33 PAYABLES
Group Company
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000
Current liabilities:
Trade payables 5,905 17,132 - -
Other payables 43,205 65,170 210 552
Accruals 99,809 45,660 2,318 1,603
Unpaid balance for acquisition of
property, plant and equipment (Note 36) 8,172 1,495 - -
GST payables - 512 - -
Total payables 157,091 129,969 2,528 2,155

Trade payables carry credit periods between 30 to 60 days (2019: 30 to 60 days).
The fair value of the payables, excluding GST payables, approximate their carrying value, as the impact of discounting is
not significant.