| 20. | INTERESTS
IN JOINT VENTURES |
| | |
As of December 31, | |
| | |
2024 | | |
2023 | |
| | |
US$ | | |
US$ | |
| Cost of investments in joint ventures | |
| - | | |
| (7,988 | ) |
| Due from joint ventures | |
| - | | |
| 23,810 | |
| | |
| | | |
| | |
| | |
| - | | |
| 15,822 | |
Amounts due from joint ventures are unsecured, interest-free and repayable
on demand.
Details of material joint ventures as of December 31, 2023 are
as follows:
| Name | | Place of
incorporation | | | Percentage of
ownership
interest held
by the
Company | | | Principal activity | | | DHI Holdings (S) Pte Ltd. | | | Singapore | | | | 51 | % | | Hotel operations, hospitality and VIP services | | The following table illustrates the summarized
financial information in respect of the Singapore hotel companies adjusted for any differences in accounting policies and reconciled to
the carrying amount in the consolidated financial statements:
| | |
As of
December 31,
2023 | |
| | |
US$ | |
| Total assets | |
| 201,025 | |
| Total liabilities | |
| (216,689 | ) |
| | |
| | |
| Net assets | |
| (15,664 | ) |
| Proportion of the Group’s ownership | |
| 51 | % |
| | |
| | |
| Group’s share of net assets of joint ventures | |
| (7,988 | ) |
| Due from joint ventures | |
| 23,810 | |
| | |
| | |
| Interests in joint ventures | |
| 15,822 | |
| | |
| | |
| Addition information of the joint ventures | |
| | |
| Cash and cash equivalents | |
| 3,516 | |
| Amounts due to shareholders | |
| 48,280 | |
| Bank borrowings | |
| 163,438 | |
| | |
February 20, 2023
to December 31,
2023 | |
| | |
US$ | |
| Revenue | |
| 24,129 | |
| | |
| | |
| Loss for the period | |
| (4,578 | ) |
| Other comprehensive loss for the period | |
| (600 | ) |
| | |
| | |
| Total comprehensive loss for the period | |
| (5,178 | ) |
|