v3.25.1
CONTRACT ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2024
Contract Assets Net  
SCHEDULE OF CONTRACT ASSETS

Contract assets, net consist of the following:

 

SCHEDULE OF CONTRACT ASSETS 

   2024   2023 
   December 31, 
   2024   2023 
Contract assets          
Balance at the beginning of the year  $1,650,750   $1,037,458 
Additions   

1,513,001

    2,184,620 
Changes due to billings   (3,100,436)   (1,507,860)
Less: contra-allowance / (allowance) for expected credit loss   

43,919

   (67,861)
Exchange adjustment   

2,021

    4,393 
Balance at the end of the year  $109,255   $1,650,750 
SCHEDULE OF CONTRACT ASSETS ALLOWANCES FOR EXPECTED CREDIT LOSS

The movement of allowances for expected credit loss is as follows: 

 

   2024   2023 
   December 31, 
   2024   2023 
         
Balance at the beginning of the year  $(76,121)  $(8,054)
Reversal / (provision) for the year   43,919   (67,861)
Exchange adjustment   (227)   (206)
Balance at the end of the year  $(32,429)  $(76,121)