Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 14. Investment properties (cont'd) 15. Other investments 2020 2019 RM RM Club memberships, at cost 75,000 75,000 16. Investment in subsidiaries 2020 2019 RM RM Unquoted shares, at cost 289,799,666 268,482,666 Less: Impairment losses (731,213) (708,671) 289,068,453 267,773,995 (a) Details of the subsidiaries are as follows: Proportion (%) Country of of ownership Name incorporation Principal activities interest 2020 2019 Held by the Company: Kimlun Sdn. Bhd. Malaysia Building and infrastructure 100.00 100.00 contractors SPC Industries Malaysia Ready mix concrete production 100.00 100.00 Sdn. Bhd. and manufacturing of pre-cast concrete products Kimlun Land Sdn. Bhd. Malaysia Investment holding, property 100.00 100.00 investment and development KL Building Materials Malaysia Manufacturing and trading of all 100.00 100.00 Sdn. Bhd. kinds of building and construction materials, and provision of quarry services and machinery rental services Fair value of the investment properties as at 31 December 2020 was RM900,000 (2019: RM4,269,000). Group Company - 67 - Annual Report 2020 124 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020