200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 19. Land held for development and development properties (cont'd) (b) Development properties (cont'd) 2021 2020 RM RM Cumulative cost recognised in profit or loss At 1 January - - Recognised during the year (807,740) - At 31 December (807,740) - Carrying amount 84,863,596 78,913,787 2021 2020 RM RM Interest expenses (Note 6) 1,026,958 3,285,905 20. Inventories 2021 2020 RM RM Cost: Raw materials 25,340,655 20,549,479 Finished goods 27,587,747 47,942,821 Completed properties 25,463,565 60,801,117 78,391,967 129,293,417 Net realisable value: Finished goods 5,368,056 85,496 83,760,023 129,378,913 Included in costs incurred during the financial year on land held for development and development properties are: Land held for development and development properties with an aggregate carrying amount of RM163,616,870 (2020: RM193,367,622) are charged for bank borrowings as referred to in Note 23. Certain completed properties with an aggregate carrying amount of RM19,896,333 (2020: RM57,969,985) are charged for bank borrowings as referred to in Note 23. During the financial year, the amount of inventories recognised as an expense in cost of sales of the Group was RM209,926,695 (2020: RM180,006,980). Group Group Group - 74 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Annual Repor t 2021 134
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