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Annual Report 2014 | S P SETIA BERHAD GROUP | 159

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

12. AMOUNTS OWING BY JOINTLY CONTROLLED ENTITIES

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Restated

Trade accounts

9,851

9,620

-

-

Unsecured advances:

Bearing interest at 8.60% – 8.85% (2013 : Nil) per annum

158,299

-

154,445

-

Interest free advances

146,938

129,598

3,853

77,200

315,088

139,218

158,298

77,200

The trade accounts are expected to be settled within the normal credit period. The advances are repayable on demand.

13. DEFERREDTAX ASSETS

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

At beginning of the year, as restated /as previously stated

192,847

93,779

6

214

Effects of adoption of FRS 10

-

24,785

-

-

Effects of adoption of FRS 11

-

(1,440)

-

-

At beginning of the year, as restated

192,847

117,124

6

214

(Reversal)/Recognised in profit or loss

(20,141)

75,723

(6)

(208)

At end of the year

172,706

192,847

-

6

The Group has recognised the deferred tax assets as it is probable that its existing construction contracts and development projects

would generate sufficient taxable profits in future against which the deferred tax assets can be utilised.