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Annual Report 2016
ASIA MEDIA GROUP Berhad
113
Notes to the Financial Statements
(continued)
20. Income tax credit (cont’d)
The deferred tax assets arising from unutilised tax losses and capital allowances have only been
recognised to the extent that the Group has sufficient taxable temporary differences available,
as they arose from certain subsidiaries with recent history of losses and it is not probable that
future taxable profit will be available against which the unused tax losses and unabsorbed capital
allowances can be utilised. The unused tax losses and unabsorbed capital allowances are
available indefinitely for offsetting against future taxable profits, subject to no substantial change
in shareholding under the Income Tax Act, 1967 and guidelines issued by the tax authority.
21. Loss per share
Basic loss per ordinary share
The basic loss per ordinary share is calculated by dividing the Group’s loss attributable to ordinary
shareholders of the Company by the weighted average number of ordinary shares outstanding
during the financial year.
Group
2016
2015
RM
RM
Loss attributable to ordinary shareholders of the Company
(10,035,747) (105,583,545)
Weighted average number of ordinary shares:
Issued ordinary shares at 1 January
239,463,426 1,197,317,137
Effect of share consolidation
– (957,853,711)
Weighted average number of ordinary shares at
31 December
239,463,426 239,463,426
Basic loss per ordinary share (sen)
(4.19)
(44.09)
Diluted loss per ordinary share
The Group and the Company have no dilution in their loss per ordinary shares as the exercise
price has exceeded the average market price of ordinary shares during the financial year, the
Warrants do not have any dilutive effect on the weighted average number of ordinary shares.