200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 20. Trade and other receivables (cont'd) (a) Trade receivables (cont'd) Receivables that are impaired 2024 2023 RM RM Trade receivables - nominal amounts 860,424 18,937,447 Less: Allowance for impairment (860,424) (18,937,447) - - Movement in allowance accounts: 2024 2023 RM RM At 1 January 18,937,447 20,568,093 Charge for the year (Note 6) 107,000 - Reversal of impairment loss (Note 6) (18,184,023) (497,972) Written off - (1,132,674) At 31 December 860,424 18,937,447 (b) Amounts due from subsidiaries (c) Amount due from joint venture Group The Group's trade receivables that are impaired at the reporting date and the movement of the allowance accounts used to record the impairment are as follows: The amount due from joint venture is unsecured, bear interest ranging from 6.82% to 7.56% (2023: 5.72% to 7.73%) per annum and is repayable on demand. Group The amounts due from subsidiaries are unsecured, bear interest ranging from 4.82% to 7.93% (2023: 4.82% to 7.57%) per annum and are repayable on demand. Trade receivables that are impaired at the reporting date relate to debtors that have defaulted on payments and expected credit losses based on the Group's historical observed default rates. These receivables are not secured by any collateral or credit enchancements. - 67 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 159 ANNUAL REPORT 2024
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