Annual Report
2015
|
DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
115
26. Income tax expense (cont’d)
Reconciliation of income tax expense (cont’d)
*
In the Malaysian Budget 2014, it was announced that corporate income tax rate will be reduced
to 24% from year of assessment 2016 (“YA 2016”) and onwards. Consequently, any temporary
differences expected to be reversed in YA 2016 and onwards are measured using this rate.
^ Section 54A Exemption of Income Tax Act, 1967, subject to the following subsections, where a person
who is resident for the basis year for a year of assessment carries on the business of:
a.
transporting passengers or cargo by sea on a Malaysian ship; or
b.
letting out on charter a Malaysian ship owned by the Company on a voyage or time chartered
basis
70% of the statutory income of that person for that year of assessment from that business shall be
exempt from tax.
27. Reclassification of fair value reserve to profit or loss
The reclassification of fair value reserve of RM24,036,945 to profit or loss as non-operating income was
occasioned by the reclassification of the investment in PPB from an equity-accounted associate to a
subsidiary.
28. Compensations to key management personnel
Compensations to key management personnel are as follows:
Group
Company
2015
2014
2015
2014
RM
RM
RM
RM
Directors:
- Fees
2,353,980 2,319,780 1,946,580 1,934,580
- Remuneration
22,222,444 4,219,047
35,000
35,000
24,576,424 6,538,827 1,981,580 1,969,580
Other key management personnel:
- Short term employee benefits
557,403
608,612
37,560
37,560
25,133,827 7,147,439 2,019,140 2,007,140
Other key management personnel comprise persons other than the Directors of group entities, having
authority and responsibility for planning, directing and controlling the activities of the group entities either
directly or indirectly.
Notes to the
Financial Statements
(cont’d)
