200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 17. Investment in joint ventures (cont'd) (d) Group RM Group's share of net assets of PASB 11,249,021 Unrealised profit adjustments (929,680) Carrying amount of Group's interest in PASB 10,319,341 Fair value of Group's interest in PASB 12,156,729 Gain on deemed disposal of investment in joint venture (1,837,388) 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 2024 275,700,137 33,070,264 308,770,401 Additions 45,262,719 5,384,329 50,647,048 Write back - 1,500,000 1,500,000 At 31 December 2024 320,962,856 39,954,593 360,917,449 At 1 January 2023 129,536,799 16,447,185 145,983,984 Additions 142,837,059 16,049,358 158,886,417 Write back 3,326,279 573,721 3,900,000 At 31 December 2023 275,700,137 33,070,264 308,770,401 During the current financial year, KLLSB acquired the remaining 49% interest in PASB from the other joint venture partner for a total consideration of RM11,707,000. Following the acquisition, PASB became a subsidiary of the Group. Further details are disclosed in Note 15. The effects of the deemed disposal of PASB on the comprehensive income of the Group are as follows: - 62 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 154
RkJQdWJsaXNoZXIy NDgzMzc=