200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 21. Trade and other receivables 2021 2020 2021 2020 RM RM RM RM Trade receivables Third parties 448,935,298 403,358,828 - - Amount due from joint venture 69,200,286 57,265,467 - - Amounts due from companies related to certain directors 1,408,545 200,000 - - 519,544,129 460,824,295 - - Less: Allowance for impairment - Third parties (18,952,098) (16,630,954) - - Trade receivables, net 500,592,031 444,193,341 - - Other receivables Deposits 15,075,309 14,562,447 204,500 4,500 Amount due from subsidiaries - - 78,888,084 19,582,459 Amount due from joint venture 9,518,791 - - - Sundry receivables 2,973,299 2,123,130 - - 27,567,399 16,685,577 79,092,584 19,586,959 Total trade and other receivables 528,159,430 460,878,918 79,092,584 19,586,959 Add: Cash and bank balances (Note 22) 69,536,133 57,474,737 782,239 144,098 Less: Deposits (15,075,309) (14,562,447) (204,500) (4,500) Total financial assets at amortised cost 582,620,254 503,791,208 79,670,323 19,726,557 (a) Trade receivables Trade receivables are non-interest bearing and are generally on 30 to 90 days (2020: 30 to 90 days) terms, although in practice, this may extend to 120 days. Other credit terms are assessed and approved on a case-by-case basis. They are recognised at their original certificated or invoiced amounts which represent their fair values on initial recognition. Included in trade receivables is an amount of RM98,769,962 (2020: RM97,664,614), which represents retention sum receivable on construction contracts of the Group. Group Company - 75 - 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) 135
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