Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 38. Impact of Covid-19 outbreak (cont'd) 39. Authorisation of financial statements for issue The financial statements for the year ended 31 December 2020 were authorised for issue in accordance with a resolution of the directors on The Group has also assessed the appropriateness of adopting the going concern basis in its FYE 2020 financial statements. The Group concluded that the going concern basis is appropriate in view of its orders in hand and the banking facilities in place to support the working capital requirements of the Group. Subsequent to 31 December 2020, the Government of Malaysia continues to impose various phases of the MCO based on severity of the pandemic. As the outbreak continues to evolve, it is challenging to predict the full extent and duration of its impact on business and the economy. As the COVID-19 pandemic continues to evolve with new variants being discovered, it is challenging to ascertain when the pandemic will come to an end and the full extent of its impact. The Group will continue to monitor the development of the COVID-19 pandemic in Malaysia and Singapore and will continue to take necessary measures including strict compliance with the guidelines from the health authorities, active monitoring of the cash flow requirements of the Group and timely procurement of additional banking facilities, where necessary, to mitigate the impact of COVID-19 pandemic to the Group’s business and financial condition. - 106 - 163 Kimlun Corporation Berhad Registration No. 200901023978 (867077-X) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020