Kimlun Corporation Berhad Annual Report 2018

Kimlun Corporation Berhad 97 15. Investment in subsidiaries Company 31.12.2018 31.12.2017 1.1.2017 RM RM RM Unquoted shares, at cost 229,318,796 202,818,796 177,659,999 Details of the subsidiaries are as follows: Proportion (%) of ownership Country of interest Name incorporation Principal activities 2018 2017 Held by the Company: Kimlun Sdn. Bhd. Malaysia Building and infrastructure contractors 100 100 SPC Industries Sdn. Bhd. Malaysia Ready mix concrete production and 100 100 manufacturing of pre-cast concrete products Kimlun Land Sdn. Bhd. Malaysia Investment holding, property 100 100 investment and development KL Building Materials Malaysia Manufacturing and trading of all kinds 100 100 Sdn. Bhd. of building and construction materials, and provision of quarry services and machinery rental services I-Buildtech Solutions Singapore Provision of industrial building systems 100 100 Pte Ltd * and the supply of construction and building materials Held through Kimlun Sdn Bhd: Kimlun Superior Crest Sdn. Bhd. Malaysia Building and infrastructure contractors 60 60 Held through Kimlun Land Sdn Bhd: Kimlun Medini Sdn. Bhd. Malaysia Property development and property 100 100 investment Kitaran Lintas Sdn. Bhd. Malaysia Property development and property 100 100 investment Kiiville Sdn. Bhd. Malaysia Property development and property 100 100 investment Kii Ashbury Sdn. Bhd. Malaysia Property development and property 100 100 investment Kii Morris Sdn. Bhd. Malaysia Property development and property 100 100 investment * Audited by a firm of chartered accountants other than Ernst & Young During the financial year, the Company subscribed for additional ordinary shares in Kimlun Land Sdn. Bhd. for a total consideration of RM26,500,000, satisfied by cash. The subscription did not change the percentage of shareholdings effectively held by the Company. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2018 (cont’d)