Page 114 - HRC_AR2020

112 I 2020 ANNUAL REPORT I financial reports

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 (CONTINuED)

9 profit Before taXation

2020 2019
rM’000 rM’000
The profit before taxation is arrived at after charging/(crediting):
Auditors’ remuneration:
- statutory audit fees 351 374
- audit-related fees 69 148
- fees for non-audit services 155 34
Cost of inventories 7,448,100 12,303,981
Staff cost:
- salaries, bonus and allowances 92,681 95,100
- defined contribution plan 11,713 10,637
- other employee benefits 4,604 5,919
Foreign exchange (gains)/losses:
- realised (9,970) 14,448
- unrealised 2,230 (1,914)
Net fair value (gains)/losses on derivative financial instruments:
- included in purchases (Note 23) (823,935) (98,222)
- included in other operating gains or losses (300,381) 147,854
Depreciation of property, plant and equipment 109,128 121,849
Depreciation of right-of-use assets 7,518 8,131
Amortisation of prepaid lease payments - 18
Amortisation of intangible assets 2,694 14,405
Allowance for inventories - 369
Provision for impairment of receivables 26,190 -
Inventories written down 28,110 -
Write off of property, plant and equipment 80 2,879

10 taXation

2020 2019
rM’000 rM’000
Current tax – Malaysian tax
- current financial year - 663

- 663
Deferred taxation (Note 27)
- origination and reversal of temporary differences 8,549 121,237
- over accrual in prior year (3,848) (10,264)
4,701 110,973

Taxation recognised in profit or loss 4,701 111,636
Deferred taxation (Note 27)
- origination and reversal of temporary differences (31,087) (7,216)
Taxation recognised in other comprehensive income (31,087) (7,216)