182 KIMLUN CORPORATION BERHAD • NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 17. Investment in joint ventures (cont'd) Place of business/ Proportion (%) Country of of ownership Name incorporation Principal activities interest 2025 2024 Held through Kimlun Sdn. Bhd.: Zecon Kimlun Malaysia Building and infrastructure 30 30 Consortium Sdn. Bhd. * contractor JBB Kimlun Sdn. Bhd. Malaysia Building and infrastructure 40 40 contractor Held through KL Building Materials Sdn. Bhd.: Rock Projects Sdn. Bhd. Malaysia Quarry and quarry related 51 51 services Held through SPC Industries Sdn. Bhd.: Zenwatt FPV Sdn. Bhd. * Malaysia (FPV) structures and related 51 - component * Audited by a firm of chartered accountants other than Ernst & Young PLT, Malaysia. Summarised financial information on the significant joint venture is as follows: (a) Summarised statements of financial position of material joint venture Rock Projects Sdn. Bhd. ("RPSB") 2025 2024 RM RM Non-current assets 22,853,037 29,623,764 Current assets 8,473,473 4,021,624 Total assets 31,326,510 33,645,388 Current liabilities 15,699,045 15,901,133 Non-current liabilities 12,553,913 19,483,174 Total liabilities 28,252,958 35,384,307 Net assets/(liabilities) 3,073,552 (1,738,919) Manufacturing of floating solar Group - 62 -
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