45
MIGHT Directors’ Report And Audited Financial Statements 2020
19. TAX EXPENSE (continued) The amounts of temporary di erences for which no deferred tax assets have been recognised in the statements of financial position are as follows: (d)
GROUP
2019 RM
2020 RM
Unutilised business losses - Expires by 31 December 2025
10,993,558 11,729,756
Deferred tax assets of subsidiaries have not been recognised in respect of these items as it is not probable that taxable profits of the subsidiaries would be available against which the deductible temporary di erences could be utilised.
The amount and availability of these items to be carried forward up to the periods as disclosed above are subject to the agreement of the local tax authority.
20. EMPLOYEE BENEFITS
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Salaries and wages Defined contribution plan Other employee benefits
11,734,189 1,443,488 1,389,009
14,018,884 2,353,854 2,256,633
14,744,572 1,851,373 1,875,668
10,835,309 1,918,253 1,802,710
18,629,371
18,471,613
14,556,272
14,566,686
Included in the employee benefits of the Group is Directors’ remunerations amounting to RM856,022 (2019: RM916,273).
Identities of related parties (a) 21. SIGNIFICANT RELATED PARTY TRANSACTIONS
Parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties may be individuals or other parties.
The Company has controlling related party relationship with its direct and indirect subsidiaries.
Related parties of the Group include:
(i)
Direct and indirect subsidiaries as disclosed in Note 5 to the financial statements;
(ii)
Associate as disclosed in Note 6 to the financial statements;
(iii)
Companies in which certain Directors have financial interests; and
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