Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 19. Land held for development and development properties (cont'd) 2020 2019 RM RM Interest expenses (Note 6) 3,285,905 5,704,329 20. Inventories 2020 2019 RM RM Cost: Raw materials 20,549,479 16,318,398 Finished goods 47,942,821 49,758,007 Completed properties 60,801,117 4,411,185 129,293,417 70,487,590 Net realisable value: Finished goods 85,496 9,510,099 129,378,913 79,997,689 Group Certain completed properties with an aggregate carrying amount of RM57,969,985 (2019: RM905,896) are charged for bank borrowings as referred to in Note 23. During the financial year, the amount of inventories recognised as an expense in cost of sales of the Group was RM180,006,980 (2019: RM282,348,037). 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 RM193,367,622 (2019: RM231,125,134) are charged for bank borrowings as referred to in Note 23. - 76 - 133 Kimlun Corporation Berhad Registration No. 200901023978 (867077-X) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020