v3.25.1
Restricted Cash
12 Months Ended
Dec. 31, 2024
Restricted Cash [Abstract]  
RESTRICTED CASH

NOTE 7 — RESTRICTED CASH

 

As of December 31, 2023 and 2024, the Company pledged its fixed deposits of $2,931,357 and $2,192,015 for banking facilities secured from Nanyang Commercial Bank, Limited and DBS Bank (Hong Kong) Limited. Other than the letter of guarantee of $384,615 (2023: $461,538) for operation, none of the banking facilities were utilized as of December 31, 2023 and 2024.

 

Restricted cash are summarized as follows:

 

   As of December 31, 
   2023   2024 
Restricted cash with maturity of less than three months when acquired at end of year  $2,212,529   $2,192,015 
Restricted cash with maturity of three months or more when acquired at end of year   718,828    
 
Total  $2,931,357   $2,192,015