200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 24. (b) (c) Amount due to subsidiaries (d) (e) 25. Provisions 2023 2022 RM RM Defect liability costs At 1 January 11,541,000 16,737,000 Reversal during the year (Note 6) (1,561,000) (5,196,000) At 31 December 9,980,000 11,541,000 This amount represents estimated rectification costs expected to be incurred during the defect liability period of construction contracts. Group The amount due to joint ventures are unsecured, non-interest bearing and are repayable on demand. Other payables due to third parties are non-interest bearing and are normally settled on 30 to 60 days (2022: 30 to 60 days) terms. The amount due to corporate shareholder of a subsidiary are unsecured, bearing interest ranging from 6.04% to 7.57% (2022: 5.63% to 6.44%) per annum and are repayable on demand. The amount due to subsidiaries are unsecured, bearing interest at 5.41 to 5.94% (2022: Nil) and repayable on demand. Amount due to corporate shareholder of a subsidiary Trade and other payables (cont'd) Other payables Amount due to joint ventures - 66 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 Kimlun Corporation Berhad 136
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