Kimlun Corporation Berhad Annual Report 2019

Annual Report 2019 Kimlun Corporation Berhad NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2019 (cont’d) 129 19. Land held for development and development properties (a) Land held for development Freehold and Development leasehold land costs Total Group RM RM RM At 1 January 2019 61,319,072 8,922,414 70,241,486 Additions 85,426,279 3,151,962 88,578,241 At 31 December 2019 146,745,351 12,074,376 158,819,727 At 1 January 2018 60,682,723 8,880,763 69,563,486 Additions 636,349 41,651 678,000 At 31 December 2018 61,319,072 8,922,414 70,241,486 (b) Development properties Freehold and Development leasehold land costs Total Group RM RM RM At 31 December 2019 Cumulative cost of development properties costs At 1 January 2019 101,436,203 4,016,618 105,452,821 Costs incurred during the year 12,517,622 13,635,532 26,153,154 At 31 December 2019 113,953,825 17,652,150 131,605,975 At 1 January 2018 29,750,751 2,288,761 32,039,512 Costs incurred during the year 71,685,452 1,727,857 73,413,309 At 31 December 2018 101,436,203 4,016,618 105,452,821 2019 2018 RM RM Interest expenses (Note 6) 5,704,329 992,146 Included in costs incurred during the financial year on land held for development and development properties are: Land held for development and development properties with an aggregate carrying amount of RM231,125,134 (2018: RM73,995,782) are charged for bank borrowings as referred to in Note 23.