200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 25. Trade and other payables (cont'd) (c) Amounts due to subsidiaries (d) Amounts due to joint ventures (e) Amount due to corporate shareholder of a subsidiary (f) Amounts due to former shareholders of a subsidiary 26. Provisions 2024 2023 RM RM Defect liability costs At 1 January 9,980,000 11,541,000 Addition/(reversal) during the year (Note 6) 5,020,000 (1,561,000) At 31 December 15,000,000 9,980,000 The amounts due to joint ventures are unsecured, non-interest bearing and are repayable on demand. The amounts due to former shareholders of Pinegate Development Sdn. Bhd. (“PDSB”) are unsecured and non-interest bearing. Following the revision in repayment terms during the current financial year, these amounts are due to be repaid in instalments from 2025 to 2027 (2023: 2024 to 2026). These amounts are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate of 4.48%. The amounts due to subsidiaries are unsecured, bear interest at 6.30% (2023: 5.41% to 5.94%) per annum and repayable on demand. Group This amount represents estimated rectification costs expected to be incurred during the defect liability period of construction contracts. The amount due to corporate shareholder of a subsidiary is unsecured, bears interest ranging from 6.44% to 7.93% (2023: 6.04% to 7.57%) per annum and is repayable on demand. - 75 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 167 ANNUAL REPORT 2024
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