200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 17. Investment in joint ventures (cont'd) Summarised financial information on the significant joint venture is as follows (cont'd): (c) Posh Atlantic Sdn. Bhd. ("PASB") 2022 2021 RM RM Net assets attributable to owners of the Company at 1 January 26,256,992 27,839,215 Total comprehensive income/(loss) attributable to owners of Company 74,605 (1,582,223) Net assets attributable to owners of the Company at 31 December 26,331,597 26,256,992 Group's interest in PASB 51% 51% Group's share of net assets of PASB 13,429,114 13,391,066 Unrealised profit adjustments (294,725) (305,249) Carrying amount of individually immaterial joint ventures 2,105,902 4,000,750 Carrying amount of Group's interest in joint ventures 15,240,291 17,086,567 18. Land held for development and development properties (a) Land held for development Freehold and Development leasehold land costs Total Group RM RM RM At 1 January 2022 200,622,042 13,750,401 214,372,443 Additions - 7,153,485 7,153,485 Transfer to property development costs (71,085,243) (4,456,701) (75,541,944) At 31 December 2022 129,536,799 16,447,185 145,983,984 At 1 January 2021 158,450,937 13,129,406 171,580,343 Additions 42,171,105 620,995 42,792,100 At 31 December 2021 200,622,042 13,750,401 214,372,443 Reconciliation of the summarised financial information presented above to the carrying amount of the Group's interest in joint ventures Group - 74 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Kimlun Corporation Berhad | Registration No. 200901023978 (867077-X) 139
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