200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) Notes to the financial statements For the financial year ended 31 December 2023 1. Corporate information 2. Summary of material accounting policy information 2.1 Basis of preparation (a) MFRSs and/or IC Interpretations (Including The Consequential Amendments) MFRS 17 Insurance Contracts Amendments to MFRS 17 Insurance Contracts Amendment to MFRS 17: Initial Application of MFRS 17 and MFRS 9 – Comparative Information Amendments to MFRS 101: Disclosure of Accounting Policies Amendments to MFRS 108: Definition of Accounting Estimates Amendments to MFRS 112: Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to MFRS 112: International Tax Reform – Pillar Two Model Rules The financial statements of the Group and of the Company are prepared under the historical cost convention and modified to include other bases of valuation as disclosed in other sections under material accounting policy information, and in compliance with Malaysian Financial Reporting Standards ("MFRSs"), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. 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 15 to the financial statements. The consolidated financial statements include the financial statements of the Company and its subsidiaries made up to the end of the reporting period. The consolidated financial statements are presented in Ringgit Malaysia (“RM”), which is the Company’s functional and presentation currency. During the current financial year, the Group and the Company have adopted the following new accounting standards and/or interpretations (including the consequential amendments, if any):- - 26 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 Kimlun Corporation Berhad 096
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