Kimlun Corporation Berhad Annual Report 2018

16. Investment in joint ventures (cont'd) (ii) Summarised statements of comprehensive income of material joint venture 2018 2017 Posh Atlantic Sdn Bhd RM RM Revenue 1,928,642 3,597,976 Depreciation (6,945) (6,945) Interest income 686,469 642,782 Interest expenses - (130,397) Profit before tax from continuing operations 1,114,945 723,426 Income tax expenses (258,764) (239,624) Total comprehensive income 856,181 483,802 (iii) Reconciliation of the summarised financial information presented above to the carrying amount of the Group's interest in joint ventures 2018 2017 "Posh Atlantic Sdn Bhd ("PASB")" RM RM Net assets at 1 January 27,979,051 27,495,249 Total comprehensive income 856,181 483,802 Net assets at 31 December 28,835,232 27,979,051 Group's interest in PASB 51% 51% Group's share of net assets of PASB 14,705,969 14,269,316 Unrealised profit adjustments (463,208) (547,704) Carrying amount of individually immaterial joint ventures 4,369,700 4,263,477 Carrying amount of Group's interest in joint ventures 18,612,461 17,985,089 17. Properties held for sale Group 31.12.2018 31.12.2017 1.1.2017 RM RM RM Cost of properties held for sale 1,829,232 1,829,232 1,829,232 Kimlun Corporation Berhad 99 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2018 (cont’d)