Page 261 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 3 4 5 6 7 Our Numbers 8 259

15. LEASES (CONT’D.)

15.2 Group and the Bank as a lessor

The Group and the Bank have entered into commercial property leases on its investment properties. These
non-cancellable leases have remaining lease terms of between one (1) and five (5) years. All leases include a clause to
enable upward revision of the rental charge on an annual basis based on prevailing market conditions.
Future minimum rentals receivable under commitments and non-cancellable operating leases at the reporting date are
as follows:
Group
2024 2023
RM’000 RM’000

Not later than 1 year 443 1,129
Later than 1 year but not later than 5 years 245 2,257

688 3,386

Bank
2024 2023
RM’000 RM’000

Not later than 1 year 563 1,249
Later than 1 year but not later than 5 years 365 2,497
928 3,746

16. DEFERRED TAX ASSETS/(LIABILITIES)
Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000

At 1 January 24,483 36,442 23,943 36,442
Recognised in the profit or loss (Note 41) 9,031 (3,107) 9,566 (3,647)
Recognised in other comprehensive income (76) (8,852) (76) (8,852)
At 31 December 33,438 24,483 33,433 23,943

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set-off current tax assets against
current tax liabilities and when the deferred income taxes relate to the same fiscal authority. The following amounts,
determined after appropriate offsetting, are shown in the statements of financial position as follows:

Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000

Deferred tax assets, net 33,438 24,483 33,433 23,943