MBI Sdn Bhd is in the business of operating a houseboat in a resort and closes its accounts on 31 December annually.

Relevant information of the companys profit and loss account for the year ended 31 December 2019 is shown below: -

	RM		RM
Sales			1,600,000
Less: Cost of sales			(800,000)
Gross profit			800,000
Add: Other income
Dividend income remitted from China			10,000
			810,000
Less: Expenses
Foreign exchange loss trade-related and realized	50,000
Leave passage for directors an overseas trip	6,000
Professional fees for company secretary	5,000
Depreciation	13,000
Entertainment of suppliers	12,000
Other deductible expenses	144,000
			(230,000)
Profit before tax			580,000

Additional notes relevant to the tax computation are as follows:

1. During the year ended 31 December 2019, the company acquired office furniture comprising table and chairs costing RM100,000. It was confirmed that each asset costs more than RM1,000 and the claim for small value assets does not apply. The residual expenditure for the brought forward assets was nil.
2. Unabsorbed losses brought forward from the previous year of assessment were RM10,000.
3. The companys issued paid-up share capital is RM2,000,000.

Required:

Compute the chargeable income and the income tax payable of MBI Sdn Bhd for the year of assessment 2020