200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 38. Significant event during the financial year and subsequent event (cont'd) Consequentially, the Group’s revenue and earnings were affected negatively. 39. Authorisation of financial statements for issue The financial statements for the year ended 31 December 2021 were authorised for issue in accordance with a resolution of the directors on 30 March 2022. The Group will continue to monitor the development of the COVID-19 pandemic in Malaysia and Singapore and will continue to take necessary measures including strict compliance with the guidelines from the health authorities, active monitoring the cash flow requirements of the Group and procure additional banking facility timely, where necessary, to mitigate the impact of COVID19 pandemic to the Group’s business and financial condition. The Group has performed an assessment of the recoverability of the carrying amount of assets and measurements of assets and liabilities for the financial year ended 31 December 2021(“FYE 2021”), and concluded that the COVID-19 pandemic did not have material adverse effects on the assets and liabilities of the Group during FYE 2021. The Group has also assessed the appropriateness of adopting the going concern basis in its FYE 2021 financial statements. The Group concluded that the going concern basis is appropriate in view of its balance orders in hand and the banking facilities in place to support the working capital requirement of the Group. As the outbreak continues to evolve, it is challenging to predict the full extent and duration of its impact on business and the economy. - 109 - 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) 169
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