(6,640.3) 12 DEFERRED TAXATION NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 241 12 DEFERRED TAXATION (CONTINUED) The movements during the financial year relating to deferred tax are as follows: Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million As at the beginning of the financial year (8,442.8) (7,805.6) (6,640.3) (6,265.3) Credited/(Charged) to statement of profit or loss: (Note 38) - PPE 109.8 (1,262.4) (210.3) (554.9) - Post-employment benefits (215.0) (135.4) (51.0) (37.5) - Tax losses and capital allowances 244.7 340.2 0 0 - Provisions and allowances (33.9) 866.9 (47.0) 17.8 - Contract assets (380.9) (98.6) (192.1) (96.2) - Lease liabilities (573.5) 951.2 (1,073.2) 614.0 - ROU assets 689.9 (984.1) 1,537.9 (162.1) (158.9) (322.2) (35.7) (218.9) Credited to OCI: - Post-employment benefits 208.7 (73.7)184.8 (156.1) - Effect of changes in foreign currencies (52.5) 0 0 0 Acquisition of subsidiaries (Note 48) (193.5) (241.3) 0 0 As at the end of the financial year (8,639.0) (8,442.8) (6,491.2) (6,640.3) Subject to income tax Deferred tax assets (before offsetting): - Provisions and allowances 1,296.2 1,330.1 781.5 828.5 - Post-employment benefits 2,759.9 2,766.2 2,748.4 2,614.6 - Tax losses and capital allowances 3,072.9 2,828.2 0 0 - Lease liabilities 7,277.8 7,851.3 16,339.5 17,412.7 - PPE 62.6 58.2 0 0 Offsetting (14,090.1) (14,456.5) (19,869.4) (20,855.8) Deferred tax assets (after offsetting) 379.3 377.5 0 0 Deferred tax liabilities (before offsetting): - PPE (13,072.6) (12,932.0) (9,842.8) (9,632.5) - Contract assets (1,215.1) (834.2) (1,023.6) (831.5) - ROU assets (8,820.7) (9,510.6) (15,494.2) (17,032.1) Offsetting 14,090.1 14,456.5 19,869.4 20,855.8 Deferred tax liabilities (after offsetting) (9,018.3) (8,820.3) (6,491.2) (6,640.3) NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 242 12 DEFERRED TAXATION (CONTINUED) The amount of deductible temporary differences, unused tax losses,