160 KIMLUN CORPORATION BERHAD • NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 4. Revenue (cont'd) (b) Contract assets and contract liabilities (cont'd) (i) Contract assets/(liabilities) from construction: (cont'd) Movement in impairment allowance: 2025 2024 RM RM At 1 January - 25,391,137 Reversal of impairment loss (Note 6) - (25,391,137) At 31 December - - (ii) Contract assets/(liabilities) from manufacturing: 2025 2024 RM RM Contract assets 48,090,882 32,040,850 Less: Allowance for impairment (190,000) (190,000) 47,900,882 31,850,850 Contract liabilities (10,186,811) (30,946,251) 37,714,071 904,599 At beginning of the year 904,599 19,202,538 Revenue recognised during the year 194,358,402 134,396,227 Progress billings during the year (157,548,930) (152,694,166) 37,714,071 904,599 Movement in allowance accounts: 2025 2024 RM RM At 1 January and 31 December 190,000 190,000 General allowance Group Group Group - 40 -
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