200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 15. Investment in subsidiaries (cont'd) (a) During the financial year: (i) Additional investments PASB BFDSB Total RM RM RM Assets Property, plant and equipment 3,144,611 - 3,144,611 Deferred tax assets 216,206 - 216,206 Development properties 119,348,708 - 119,348,708 Inventories 7,975,997 - 7,975,997 Trade and other receivables 47,109 4,321,152 4,368,261 Prepayments 2,204,740 - 2,204,740 Cash and bank 724,023 2,102 726,125 133,661,394 4,323,254 137,984,648 Liabilities Loans and borrowings 46,099,641 - 46,099,641 Trade and other payables 63,243,513 4,195,448 67,438,961 Provision for taxation 58,887 - 58,887 Total liabilities 109,402,041 4,195,448 113,597,489 Total identifiable net assets 24,259,353 127,806 24,387,159 Less: non-controlling interest (395,624) (38,342) (433,966) Group's interest in fair value of identfiable net assets 23,863,729 89,464 23,953,193 Less: Fair value of existing shareholdings (12,156,729) - (12,156,729) Less: cash consideration paid (11,707,000) (105,000) (11,812,000) Goodwill - (15,536) (15,536) The fair values of the identifiable assets and liabilities of acquired subsidiaries as at the acquisition date were: During the current financial year, KLLSB acquired ordinary shares in Bonus Focus Development Sdn. Bhd. ("BFDSB") for a total consideration of RM105,000. Following the acquisition, BFDSB became a subsidiary of the Group. At the end of the previous financial year, Kimlun Land Sdn. Bhd. ("KLLSB"), a whollyowned subsidiary of the Company, held 51% interest in the ordinary shares of Posh Atlantic Sdn. Bhd. ("PASB"), a joint venture of the Group. During the current financial year, KLLSB acquired the remaining 49% interest in PASB from the other joint venture partner for a consideration of RM11,707,000. Following the acquisition, PASB became a subsidiary of the Group. - 55 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 147 ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy NDgzMzc=