NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B6 Taxation (continued) (ii) Deferred tax assets and liabilities (continued) (d) Movement in deferred tax balances during the year (continued) Group As at 1 January 2022 Recognised in profit or loss Recognised in other comprehensive income Acquisition/ deconsolidation of subsidiaries Utilisation of tax losses $’000 $’000 $’000 $’000 $’000 Property, plant and equipment 144,569 20,475 – 130 (50) Intangible assets 141,072 18,439 – – – Allowance for doubtful debts (1,640) (558) – – – Allowance for inventory obsolescence (36,193) (7,519) – – – Provisions and accruals (138,199) (40,179) – 56,433 4,050 Lease liabilities 593 (1,084) – 19 – Unabsorbed capital allowances and unutilised tax losses (98,243) (100,193) – (56,272) 65,201 Fair value of derivative financial instruments designated as cash flow hedges (8,453) (2) (1,054) – – Fair value of defined benefit plans (58,779) 4,727 37,642 – – ROU assets – – – – – Unutilised tax benefits (1,272) (976) – – 7 Other items 23,658 (3,104) – – (2) (32,887) (109,974) 36,588 310 69,206 156 ST ENGINEERING | ANNUAL REPORT 2024
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