200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) The financial statements of the Company have been prepared under the historical cost convention and comply with the provisions of the Companies Act, 1965 tax expense for the year is based on the profit for the year, as adjusted for tax purposes, together with a charge or credit for deferred taxation. Inventories are stated at the lower of cost and net realisable value. Fre hold land is not depr ciated. Depreciation of other property, plant and equipmen is provided for on a straight line basis to write off the c st of each asset Upo the disposal of an item of property, plant or equipment, the diff rence between the et isposal proceeds and the net ca rying amount s charged or Transactions in foreign currencies are initially converted into Ringgit Malaysia at rates f excha ge uling at the ransaction dates. A each balanc sheet dat , princi al ac ivities of the Compan re t ca ry on the b siness of manufact rs, wholesal s, traders, distr butor , import s and xporters of all 36. Segment information (cont'd) Manufacturing, trading, and quarry Investment Property Construction services holding development Eliminations Consolidation At 31 December 2021 RM RM RM RM RM RM Results (cont'd): Other Information (cont'd) Gain on disposal of property, plant and equipment (1,892,877) (548,795) - (19,499) - (2,461,171) Gain on derecognition of right-of-use assets (5,048) (1,853) - - - (6,901) Property, plant and equipment written off 85,528 105,673 - - - 191,201 Allowance for impairment on trade receivables 2,696,933 222,199 - - - 2,919,132 Reversal of allowance for impairment on trade receivables (247,009) (350,979) - - - (597,988) Bad debts recovered (593,541) - - - - (593,541) Unrealised foreign exchange gain - (914,836) - - - (914,836) Reversal of provision for defect liability costs (1,464,000) - - - - (1,464,000) Provision for obsolete inventories - 4,252 - - - 4,252 Reversal of provision for obsolete inventories - (209,116) - - - (209,116) - 102 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Annual Repor t 2021 162
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