Kimlun Corporation Berhad Annual Report 2017

Kimlun Corporation Berhad 102 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 (cont’d) 20. Trade and other receivables (cont’d) Trade receivables (cont’d) Trade receivables that are individually determined to be impaired at the reporting date relate to debtors that have defaulted on payments. These receivables are not secured by any collateral or credit enhancements. Amounts due from subsidiaries (Other receivables) Amounts due from subsidiaries are unsecured, interest bearing at 3.20% (2016 : 3.50%) per annum and are repayable on demand. Amounts due from joint venture (Other receivables) Amounts due from joint venture is unsecured and is repayable on demand. 21. Other current assets Group Company 2017 2016 2017 2016 RM RM RM RM Prepayments 5,665,956 2,517,291 7,475 13,675 Accrued billing from customers 14,544,276 34,281,945 - - Gross amount due from customers for contract work (Note 22) 219,352,556 97,452,012 - - 239,562,788 134,251,248 7,475 13,675 22. Gross amount due from/(to) customers for contract work-in-progress Group 2017 2016 RM RM Construction contract costs incurred to date 3,565,275,066 4,427,439,714 Attributable profits 603,470,167 678,805,092 4,168,745,233 5,106,244,806 Less: Progress billings (3,980,412,294) (5,041,868,956) 188,332,939 64,375,850 Presented as: Gross amount due from customers for contract work (Note 21) 219,352,556 97,452,012 Gross amount due to customers for contract work (Note 26) (31,019,617) (33,076,162) 188,332,939 64,375,850 Retention sums on construction contract, included in trade receivables 152,236,599 164,870,643 The cost incurred to date on construction contracts include the following charges made during the financial year: Group 2017 2016 RM RM Hire of plant and machinery 16,228,928 23,929,588 Depreciation of plant and equipment 14,586,008 10,059,757 Rental expense for land and building 2,365,338 367,228