Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 21. Trade and other receivables 2020 2019 2020 2019 RM RM RM RM Current Trade receivables Third parties 403,358,828 441,548,295 - - Amount due from joint venture 57,265,467 38,488,396 - - Amounts due from companies related to certain directors 200,000 2,198,116 - - 460,824,295 482,234,807 - - Less: Allowance for impairment - Third parties (16,630,954) (14,286,048) - - Trade receivables, net 444,193,341 467,948,759 - - Other receivables Refundable deposits 14,562,447 6,475,921 4,500 4,500 Amount due from subsidiaries - - 19,582,459 25,949,737 Sundry receivables 2,123,130 11,847,632 - - 16,685,577 18,323,553 19,586,959 25,954,237 Total trade and other receivables 460,878,918 486,272,312 19,586,959 25,954,237 Add: Cash and bank balances (Note 22) 57,474,737 64,940,265 144,098 588,331 Total financial assets at amortised cost 518,353,655 551,212,577 19,731,057 26,542,568 (a) Trade receivables Group Company Trade receivables are non-interest bearing and are generally on 30 to 90 days (2019: 30 to 90 days) terms, although in practice, this may extend to 120 days. Other credit terms are assessed and approved on a case-by-case basis. They are recognised at their original certificated or invoiced amounts which represent their fair values on initial recognition. Included in trade receivables is an amount of RM97,664,614 (2019: RM115,712,939), which represents retention sum receivable on construction contracts of the Group. - 77 - Annual Report 2020 134 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020