190 KIMLUN CORPORATION BERHAD • NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 21. Trade and other receivables (cont'd) (a) Trade receivables (cont'd) Receivables that are impaired 2025 2024 RM RM Trade receivables - nominal amounts 1,527,516 177,516 Less: Specific allowance for impairment (1,527,516) (177,516) - - Movement in allowance accounts: Specific General Total allowance allowance allowance RM RM RM 31 December 2025 At beginning of financial year 177,516 682,908 860,424 Charge for the year (Note 6) 1,350,000 644,000 1,994,000 At end of financial year 1,527,516 1,326,908 2,854,424 31 December 2024 At beginning of financial year 18,305,690 631,757 18,937,447 Charge for the year (Note 6) - 107,000 107,000 Reversal of impairment loss (Note 6) (18,128,174) (55,849) (18,184,023) At end of financial year 177,516 682,908 860,424 (b) Amounts due from subsidiaries (c) Amount due from joint venture Group 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. 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, bears interest ranging from 5.69% to 6.87% (2024: 6.82% to 7.56%) per annum and is repayable on demand. The amounts due from subsidiaries are unsecured, bear interest ranging from 4.57% to 8.02% (2024: 4.82% to 7.93%) per annum and are repayable on demand. - 70 -
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