200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 17. Investment in joint ventures (cont'd) Details of the joint ventures are as follows: Proportion (%) Country of of ownership Name incorporation Principal activities interest 2021 2020 Held through Kimlun Land Sdn. Bhd.: Posh Atlantic Sdn. Bhd. Malaysia Property development and 51 51 property investment Held through Kimlun Sdn. Bhd.: Zecon Kimlun Malaysia Building and infrastructure 30 30 Consortium Sdn. Bhd. contractor JBB Kimlun Sdn. Bhd. Malaysia Building and infrastructure 40 40 contractors Held through KL Building Materials Sdn. Bhd.: Rock Projects Sdn. Bhd. Malaysia Quarry and quarry related 51 51 services Summarised financial information on the significant joint venture is as follows: (a) Summarised statements of financial position of material joint venture Posh Atlantic Sdn. Bhd. ("PASB") 2021 2020 RM RM Non-current assets 239,562 139,409 Current assets 80,174,494 81,517,810 Total assets 80,414,056 81,657,219 Current liabilities 12,838,660 2,701,647 Non-current liabilities 41,425,503 51,166,440 Total liabilities 54,264,163 53,868,087 Equity attributable to owners of PASB 26,256,992 27,839,215 Non-controlling interests (107,099) (50,083) 26,149,893 27,789,132 Group - 71 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 K imlun Corporat ion Berhad Regi s t rat ion No. 200901023978 (867077-X) 131
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