Intangible assets, net consists of the following:
SCHEDULE OF INTANGIBLE ASSET, NET
| | |
As of December 31, | |
| Software platform | |
2024 | | |
2023 | |
| Cost: | |
| | | |
| | |
Balance at beginning of year
| |
$ | 101,817 | | |
$ | 101,817 | |
| Additions | |
| 905,607 | | |
| — | |
| Foreign currency translation | |
| 4,741 | | |
| — | |
| Balance at end of year | |
| 1,012,165 | | |
| 101,817 | |
| | |
| | | |
| | |
| Accumulated amortization: | |
| | | |
| | |
| Balance at beginning of year | |
| (64,484 | ) | |
| (44,249 | ) |
| Charge for the year | |
| (20,381 | ) | |
| (20,317 | ) |
| Foreign currency translation | |
| (448 | ) | |
| 82 | |
| Balance at end of year | |
| (85,313 | ) | |
| (64,484 | ) |
| | |
| | | |
| | |
| Net carrying value | |
$ | 926,852 | | |
$ | 37,333 | |
|