ANNUAL REPORT 2025 181 NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 16. Investment in an associate (cont'd) Details of the associate are as follows: Place of business/ Proportion (%) Country of of ownership Name incorporation Principal activities interest 2025 2024 Held through Kii Amber Sdn. Bhd. Astaka Kimlun Sdn. Bhd. Malaysia Property development 49 49 and property investment 17. Investment in joint ventures 2025 2024 RM RM Unquoted shares, at cost At the beginning of the financial year 4,320,000 4,830,000 Addition during the year 51 - Deemed disposal - (510,000) At the end of the financial year 4,320,051 4,320,000 Share of post-acquisition reserves At the beginning of the financial year (2,201,524) 7,663,222 Share of profit/(loss) 1,531,554 (55,405) Deemed disposal - (9,809,341) At the end of the financial year (669,970) (2,201,524) Represented by: Share of net assets 3,650,081 2,118,476 Group In the previous financial year, Kii Amber Sdn. Bhd. ("KIASB"), a wholly-owned subsidiary of the Company, subscribed for ordinary shares in Astaka Kimlun Sdn. Bhd. ("AKSB") for a consideration of RM490,000. Following the subscription, AKSB became an associate of the Group. - 61 -
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