Page 204 - SC SCAR 2023 ENGLISH Flipbook

PART 5 ORGANISATION INFORMATION
The explanation and the relationship between taxation and deficit before tax is as follows:
Deficit before tax
Tax calculated at the Malaysian tax rate of 0% (2022: 24%)
Tax effects of:
– expenses not deductible for tax purposes
– income not subject to tax
– recognition of previously unrecognised deferred tax assets
– reversal of deferred tax assets on unutilised tax losses
– derecognition deferred tax assets
– overprovision of taxation in prior year
2023 RM’000
(66,955)
-
- - - -
(10,057) 5,717
2022 RM’000
(20,672)
4,961
(7,785) 16 830 (2,654) - -
(4,632)
Net of tax RM’000
(36,566)
6,969
Taxation (4,340)
22. OTHER COMPREHENSIVE GAIN/(LOSS)
2023
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit liability
2022
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit liability
23. RELATED PARTIES
Identity of related parties
Before tax RM’000
(36,566)
6,969
Tax expense RM’000
-
-
For the purpose of these financial statements, parties are considered to be related to the SC if the SC has the ability, directly or indirectly, to control or jointly control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the SC and the party are subject to common control. Related parties may be individuals or other entities.
Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the SC either directly or indirectly. The remuneration of the key management personnel is disclosed in Note 20 under the heading of ‘Executive members’ emoluments’.
23.1 TheSChasrelatedpartyrelationshipwithSecuritiesIndustryDevelopmentCorporation(SIDC),astheChairman of the SC is also the Chairperson of SIDC, and one of the SIDC Board Members is also a member of the Senior Management in the SC.
202 SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023