Trade Accounts and Other Receivables, Contract Liabilities and Prepayments (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Trade Accounts and Other Receivables, Contract Liabilities and Prepayments [Abstract] |
|
| Schedule of Trade Accounts Receivables |
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| Trade accounts receivables | |
| 18,255,293 | | |
| 19,171,243 | |
| Less: Expected credit losses | |
| (15,039,662 | ) | |
| (18,202,132 | ) |
| Less: Write-off | |
| Nil | | |
| (927,519 | ) |
| | |
| 3,215,631 | | |
| 41,592 | |
|
| Schedule of Age Analysis of Trade Accounts Receivables |
The age analysis of trade accounts
receivables as at the end of the reporting period was as follows:
| | |
Gross carrying amount | | |
Expected credit loss | | |
Expected credit loss rate | |
| | |
2024 | | |
2023 | | |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| Current | |
| 636,305 | | |
| 3,566,177 | | |
| Nil | | |
| (3,524,585 | ) | |
| 0 | % | |
| 99 | % |
| More than 30 days past due | |
| 882 | | |
| 1,114,733 | | |
| Nil | | |
| (1,114,733 | ) | |
| 0 | % | |
| 100 | % |
| More than 60 days past due | |
| Nil | | |
| 2,228,819 | | |
| Nil | | |
| (2,228,819 | ) | |
| 0 | % | |
| 100 | % |
| More than 120 days past due | |
| Nil | | |
| 1,652,053 | | |
| Nil | | |
| (1,652,053 | ) | |
| 0 | % | |
| 100 | % |
| More than 150 days past due | |
| 17,618,106 | | |
| 9,681,942 | | |
| (15,039,662 | ) | |
| (9,681,942 | ) | |
| 85 | % | |
| 100 | % |
| | |
| 18,255,293 | | |
| 18,243,724 | | |
| (15,039,662 | ) | |
| (18,202,132 | ) | |
| | | |
| | |
|
| Schedule of Allowance for Expected Credit Losses of Trade Accounts Receivables |
Set out below is the movement in the allowance
for expected credit losses of trade accounts receivables:
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| As at 1 January | |
| 18,202,132 | | |
| Nil | |
| Provision for expected credit losses | |
| 151,068 | | |
| 18,202,132 | |
| Reversal of expected credit losses | |
| (3,313,538 | ) | |
| Nil | |
| As at 31 December | |
| 15,039,662 | | |
| 18,202,132 | |
|
| Schedule of Contract Liabilities |
Set out below is the movement in the contract
liabilities:
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| As at 1 January | |
| 2,539,404 | | |
| 6,222,055 | |
| Deferred during the year | |
| 72,850,592 | | |
| 98,362,872 | |
| Recognised as revenue during the year | |
| (71,181,859 | ) | |
| (102,045,523 | ) |
| As at 31 December | |
| 4,208,137 | | |
| 2,539,404 | |
|
| Schedule of Other Receivables, Prepayments and Other Income |
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| Litigation and interest receivables | |
| 1,792,252 | | |
| Nil | |
| VAT receivables | |
| 661,737 | | |
| 794,023 | |
| Due from related parties (Note 21) | |
| 534,993 | | |
| 327,437 | |
| Prepaid expenses | |
| 292,664 | | |
| 407,563 | |
| Advance to employees | |
| 8,349 | | |
| 7,481 | |
| Other receivables and prepayments | |
| 314,184 | | |
| 311,464 | |
| Less: Write-off other receivables and prepayments | |
| (272,257 | ) | |
| Nil | |
| | |
| 3,331,922 | | |
| 1,847,968 | |
|