200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 20. Trade and other receivables (cont'd) 2024 2023 2024 2023 RM RM RM RM Other receivables Deposits 11,935,854 6,718,753 205,000 204,500 Sundry receivables 1,309,037 1,533,389 - - Amounts due from subsidiaries - - 92,232,708 93,875,322 Amount due from joint venture 3,652,432 18,647,238 - - Amount due from associate 6,107,888 - - - Contract cost assets 483,304 247,429 - - 23,488,515 27,146,809 92,437,708 94,079,822 Total trade and other receivables 541,726,311 409,919,104 92,437,708 94,079,822 Add: Cash and bank balances (Note 21) 69,668,397 63,255,642 286,613 757,334 Less: Contract cost assets (483,304) (247,429) - - Less: Deposits (11,935,854) (6,518,753) (205,000) (204,500) Total financial assets at amortised cost 598,975,550 466,408,564 92,519,321 94,632,656 (a) Trade receivables Trade receivables are non-interest bearing and are generally on 30 to 90 days (2023: 30 to 90 days) terms, although in practice, this may extend to 120 days. Other credit terms are assessed and approved on a case-by-case basis. They are recognised at their original certificated or invoiced amounts which represent their fair values on initial recognition. Included in trade receivables is an amount of RM150,884,486 (2023: RM120,479,826), which represents retention sum receivable on construction contracts of the Group. Group Company - 65 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 157 ANNUAL REPORT 2024
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