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BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
9. Income tax expense (cont’d)
(b)
Relationship between tax expense and accounting profit
A reconciliation between tax expenses and the product of accounting profit multiplied by the applicable
corporate tax rate for the years ended 31December are as follows:-
Group
2012
2011
$
$
Accounting profit before tax
84,799,158 10,629,701
Income tax expense at the applicable tax rate of 17%
(2011: 17%)
14,415,857
1,807,049
Adjustments for tax effect of:
Income not subject to taxation
(12,083,728)
–
Non-deductible expenses
1,079,636
1,397,398
(Over)/underprovision in respect of prior years
(150,751)
86,383
Movement of deferred income tax not recognised
–
(238,634)
Tax exemption
(52,060)
(59,529)
Others, net
(954)
6,251
Income tax expense recognised in profit or loss
3,208,000
2,998,918
The gains on disposal of a subsidiary and associated company are capital in nature and not taxable.
10. Earnings per share
Basic earnings per shareare calculatedbydividingprofit for thefinancial year, net of tax, attributable toowners
of theCompany by theweighted average number of ordinary shares outstanding during the financial year.
Diluted earnings per share are calculated by dividing profit for the financial year, net of tax, attributable to
owners of the Company by the weighted average number of ordinary shares outstanding during the financial
year plus the weighted average number of ordinary shares that would be issued on the conversion of all the
dilutive potential ordinary shares into ordinary shares.
The following table reflects the profit and share data used in the computation of basic and diluted earnings per
share for the years ended 31December:
2012
2011
$
$
Profit for the financial year attributable to owners of the
Company used in the computation of basic and diluted earnings per
ordinary share
81,591,158 7,630,783
Weighted average number of ordinary shares for basic
earnings per share computation
707,031,802 694,098,861
Dilutive effect of warrants (Note 26)
280,040,952 282,662,881
Weighted average number of ordinary shares for diluted
earnings per share computation
987,072,754 976,761,742
for the financial year ended 31december 2012
for the financial year ended 31december 2012
notestothe
financialstatements
notestothe
financialstatements
