ESR AR 2019 EN

Notes to the Consolidated Financial Statements 31 December 2019 199 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ESR Annual Report 2019 29. DEFERRED TAX The movements in deferred tax assets during the years ended 31 December 2019 and 2018 are as follows: Losses available for offsetting against future taxable profits Employee benefit payable Accrued expenses Others Total 2019 USD’000 USD’000 USD’000 USD’000 USD’000 At 1 January 2019 12,012 – 691 856 13,559 Acquisition of subsidiaries (note 34) 4,731 31 56 38 4,856 Deferred tax credited/(charged) to the profit or loss during the year 5,412 855 (282) 525 6,510 Disposal of subsidiaries (note 36) (1,010) – – (136) (1,146) Exchange realignment (1,723) 1,071 362 65 (225) Deferred tax assets at 31 December 2019 19,422 1,957 827 1,348 23,554 2018 At 1 January 2018 7,279 788 1,414 872 10,353 Deferred tax credited/(charged) to the profit or loss during the year 4,226 (778) (677) 29 2,800 Acquisition of subsidiaries 1,037 – – – 1,037 Exchange realignment (530) (10) (46) (45) (631) Deferred tax assets at 31 December 2018 12,012 – 691 856 13,559