Page 176 - Exim iar24_Ebook

EXIM BANK MALAYSIA
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NOTES TO THE FINANCIAL STATEMENTS

36. TAXATION

The major components of taxation for the years ended 31 December 2024 and 31 December 2023 are:
Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000
Deferred tax expense (Note 13):
- Origination and reversal of temporary differences (303) (1,351) (303) (1,351)
- Benefits from previously unutilised business losses 303 1,351 303 1,351
- - - -

Income tax is calculated at the Malaysian statutory tax rate of 24% (2023: 24%) of the estimated assessable profit for the year.
A reconciliation of the taxation applicable to profit before taxation at the statutory tax rate to taxation at the effective tax rate
of the Group and the Bank is as follows:
Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000
Profit before taxation 113,495 37,030 113,495 37,030

Income tax using Malaysian statutory
tax rate of 24% (2023: 24%) 27,239 8,887 27,239 8,887
Non-deductible expenses 362 6,637 362 6,637
Utilisation of previously unrecognised tax losses (21,845) (4,513) (21,845) (4,513)
Deferred tax assets not recognised on
unutilised business losses (5,756) (11,011) (5,756) (11,011)
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37. BASIC AND DILUTED EARNINGS PER SHARE
Group Bank
2024 2023 2024 2023

Issued ordinary shares as at 31 December (‘000) 2,708,665 2,708,665 2,708,665 2,708,665

Net profit for the year (RM’000) 113,495 37,030 113,495 37,030

Basic and diluted earnings per share (sen) 4.19 1.37 4.19 1.37

The basic and diluted earnings per ordinary share has been calculated based on the profit after taxation and the number of
ordinary shares during the year.