NOTE 5 – RETENTION RECEIVABLES, NET
Retention receivables, net consist of the following:
SCHEDULE OF RETENTION RECEIVABLES
| | |
2024 | | |
2023 | |
| | |
December 31, | |
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| Retention receivables – current | |
$ | 248,540 | | |
$ | 117,514 | |
| Less: allowance for expected credit loss | |
| (21 | ) | |
| (21 | ) |
| Retention receivables current net | |
$ | 248,519 | | |
$ | 117,493 | |
| | |
| | | |
| | |
| Retention receivables – non-current | |
$ | 223,535 | | |
$ | 222,242 | |
| Less: allowance for expected credit loss | |
| (2,076 | ) | |
| (2,064 | ) |
| Retention receivables non-current net | |
$ | 221,459 | | |
$ | 220,178 | |
The movement of allowances for expected credit loss is as follows:
SCHEDULE OF RETENTION RECEIVABLES ALLOWANCES FOR EXPECTED CREDIT LOSS
| | |
2024 | | |
2023 | |
| | |
December 31, | |
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| Balance at the beginning of the year | |
$ | (2,085 | ) | |
$ | (2,080 | ) |
| Exchange adjustment | |
| (12 | ) | |
| (5 | ) |
| Balance at the end of the year | |
$ | (2,097 | ) | |
$ | (2,085 | ) |
|