Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 17. Investment in joint ventures (cont'd) Details of the joint ventures are as follows (cont'd): Proportion (%) Country of of ownership Name incorporation Principal activities interest 2020 2019 Held through KL Building Materials Sdn Bhd: Rock Projects Sdn. Bhd. Malaysia Quarry and quarry related services 51 51 * Audited by a firm of chartered accountants other than Ernst & Young PLT, Malaysia. Summarised financial information on the significant joint venture is as follows: (i) Summarised statements of financial position of material joint venture Posh Atlantic Sdn Bhd 2020 2019 RM RM Non-current assets 139,409 32,984 Current assets 81,517,810 81,526,246 Total assets 81,657,219 81,559,230 Current liabilities 51,166,440 2,476,408 Non-current liabilities 2,701,647 49,940,148 Total liabilities 53,868,087 52,416,556 Equity attributable to owners of PASB 27,839,215 29,161,695 Non-controlling interests (50,082) (19,021) 27,789,132 29,142,674 Group - 73 - Annual Report 2020 130 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020