200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) Notes to the financial statements For the financial year ended 31 December 2024 1. Corporate information 2. Material accounting policy information 2.1 Basis of preparation 2.2 Changes in accounting policies Effective for annual periods Description beginning on or after Amendments to MFRS 107: Statement of Cash Flows and MFRS 7: Financial Instruments: Disclosures - Supplier Finance Arrangements 1 January 2024 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. The financial statements of the Group and of the Company have been prepared on the historical cost basis. The accounting policies adopted are consistent with those of the previous financial year except as follows: On 1 January 2024, the Group and the Company adopted the following Amendments mandatory for annual financial periods beginning on or after 1 January 2024: 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 Office Suite No.603 Block C, Pusat Dagangan Phileo Damansara 1, No. 9, Jalan 16/11, Off Jalan Damansara, 46350 Petaling Jaya, Selangor. The financial statements of the Group and the Company have been prepared in accordance with MFRS Accounting Standards, IFRS Accounting Standards and the requirements of the Companies Act 2016 in Malaysia. The principal activity of the Company is investment holding. The principal activities and other information of the subsidiaries are disclosed in Note 15. - 25 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 117 ANNUAL REPORT 2024
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