200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) Notes to the financial statements For the financial year ended 31 December 2021 1. Corporate information 2. Summary of significant accounting policies 2.1 Basis of preparation (a) MFRSs (Including The Consequential Amendments) Amendment to MFRS 16: Covid-19-Related Rent Concessions beyond 30 June 2021 Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16: Interest Rate Benchmark Reform – Phase 2 The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Market of Bursa Malaysia Securities Berhad. The principal place of business of the Company is located at Suite 19.06, Level 19, Johor Bahru City Square, 106 - 108, Jalan Wong Ah Fook, 80000 Johor Bahru, Johor Darul Ta'zim. The registered office is located at Unit 30-01, Level 30, Tower A Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur. The principal activity of the Company is investment holding. The principal activities and other information of the subsidiaries are disclosed in Note 16. The financial statements of the Group are prepared under the historical cost convention and modified to include other bases of valuation as disclosed in other sections under significant accounting policies, and in compliance with Malaysian Financial Reporting Standards ("MFRSs"), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. During the current financial year, the Group has adopted the following new accounting standards including the consequential amendments, if any):- The adoption of the above accounting standards (including the consequential amendments, if any) did not have any material impact on the Group’s financial statements. - 26 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Annual Repor t 2021 86
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