| 5. |
RIGHT OF USE ASSETS AND LEASE LIABILITIES |
The Company is a lessee of non-cancellable
operating leases for the corporate office in Hong Kong. The Company’s ROU assets and operating lease liabilities recognized in the
consolidated balances sheets consist of the following:
SCHEDULE OF OPERATING LEASE ASSETS AND LIABILITIES
| | |
2023 | | |
2024 | | |
2024 | |
| | |
As of December 31, | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
HKD’000 | | |
HKD’000 | | |
US$’000 | |
| | |
| | |
| | |
| |
| Operating lease: | |
| | | |
| | | |
| | |
| Right-of-use assets | |
| 2,380 | | |
| 2,208 | | |
| 284 | |
| Less: accumulated depreciation | |
| (1,303 | ) | |
| (125 | ) | |
| (16 | ) |
| Right-of-use assets, net | |
| 1,077 | | |
| 2,083 | | |
| 268 | |
| | |
As of December 31, | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
HKD’000 | | |
HKD’000 | | |
US$’000 | |
| Operating lease liabilities | |
| | | |
| | | |
| | |
| Current portion | |
| 1,123 | | |
| 1,133 | | |
| 146 | |
| Non-current portion | |
| - | | |
| 994 | | |
| 128 | |
| Total | |
| 1,123 | | |
| 2,127 | | |
| 274 | |
PLUTUS FINANCIAL GROUP LIMITED AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
| | |
2023 | | |
2024 | |
| | |
As of December 31, | |
| | |
2023 | | |
2024 | |
| Operating leases: | |
| | | |
| | |
| Weighted average remaining lease term (years) | |
| 1 | | |
| 2 | |
| Weighted average discount rate | |
| 5.25 | % | |
| 5.63 | % |
During the years
ended December 31, 2022, 2023 and 2024, the Company incurred lease expenses of approximately HKD1,398,000, HKD1,261,000
and HKD1,192,000,
respectively.
The maturity analysis of the Company’s
non-cancelable operating lease obligations as of December 31, 2024 is as follows:
SCHEDULE OF MATURITY OPERATING LEASE OBLIGATIONS
| | |
Operating leases | |
| | |
HKD’000 | | |
US$’000 | |
| | |
| | |
| |
| Year ending December 31, 2025 | |
| 1,218 | | |
| 157 | |
| Year ending December 31, 2026 | |
| 1,015 | | |
| 131 | |
| Total undiscounted lease obligations | |
| 2,233 | | |
| 288 | |
| Less: imputed interest | |
| (106 | ) | |
| (14 | ) |
| Lease liabilities recognized in the consolidated balance sheet | |
| 2,127 | | |
| 274 | |
|