201 F INANC IAL Statements Sect ion 05 Annual Report 2022 NOTES TO THE F INANC I AL STATEMENTS For the year ended 31 December 2022 19. DEFERRED TAXATION (Contd.) Management has consulted its solicitors who have advised that, based on the facts and circumstances of the approval of the investment allowance to RPII in prior years, it is reasonable for RPII to place reliance on such approval and continue with the utilisation of the investment allowance in full in accordance with its terms therein. Management evaluates its uncertain tax position in respect of the above item and determines that they meet the more likely than not threshold to continue recognising the deferred tax asset relating to unutilised investment allowance on the basis that any unutilised investment allowance will be available up to year 2032. Deferred tax assets for the Group has not been recognised in respect of the following items: Group 2022 RM’000 2021 RM’000 Unutilised investment allowances 257,357 234,759 20. INVESTMENT IN SUBSIDIARIES Company 2022 RM’000 2021 RM’000 Unquoted shares, at cost At 1 January 620,000 620,000 Addition during the year (a, d) 10,000 - At 31 December 630,000 620,000 Amount due from a subsidiary (b) 800,000 800,000 1,430,000 1,420,000 (a) On 24 June 2022, the Company subscribed additional 9,999,998 ordinary shares of Ranhill Solar I Sdn. Bhd. for a total consideration of RM9,999,998 through adjustment of advance given to Ranhill Solar I Sdn. Bhd., a wholly owned subsidiary. (b) The amount due from the subsidiary is unsecured, interest-free and repayable at the discretion of the subsidiary.
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