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 depreciated. 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 to 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 2020 RM RM RM RM RM RM Results (cont'd): Other Information (cont'd) Depreciation on investment properties 53,439 - - - - 53,439 Gain on disposal of property, plant and equipment (1,662,608) (60,999) - - - (1,723,607) Gain on derecognition of right-of-use assets (14,480) (78,635) - - - (93,115) Gain on disposal of investment properties (109,704) - - - - (109,704) Property, plant and equipment written off 7,101 188,061 - - - 195,162 Write down of land held for development - - - 7,316,055 - 7,316,055 Loss on disposal of properties held for sale 58,938 - - - - 58,938 Allowance for impairment on trade receivables 1,373,923 1,912,693 - - - 3,286,616 Reversal of allowance for impairment on trade receivables (533,365) (287,940) - - - (821,305) Unrealised foreign exchange loss - 2,576,450 - - - 2,576,450 Provision for defect liability costs 1,031,000 - - - - 1,031,000 Bad debts written off 856,752 - - - - 856,752 Bad debts recovered (238,018) - - - - (238,018) Provision for obsolete inventories - 33,631 - - - 33,631 - 105 - 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) 165
RkJQdWJsaXNoZXIy NDgzMzc=