v3.25.1
SHORT-TERM AND LONG-TERM BANK LOANS (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
SCHEDULE OF SHORT TERM DEBT

Short-term and long-term bank loans consist of the following:

  

Credit agreement
entered date		  Provider  Facilities  Interest
rate		  Limits   Utilized as of
December 31,		  
                2024   2023   2022  
September 27, 2021 

The Bank of East Asia, Limited (“BEA”)

  Non-revolving term loan under SME Financing Guarantee Scheme (“SME Scheme”)  Prime Rate -2.50%  $775,845                 
      - Short-term loan portion          $108,430   $102,736 $ 99,640  
      - Long-term loan portion           447,086    552,518   653,185  
                               
August 1, 2022  BEA  General banking facilities      641,109                 
      (i) Invoice financing loan  Higher of HIBOR +2.5% or Prime rate -1%        

-

    

-

   99,020  
      (ii) Revolving loan  Higher of HIBOR +3% or Prime rate -0.5%        

-

    

-

   256,443  
      (iii) Bank overdraft  Higher of HIBOR +3% or Prime rate        -    -    -  
July 4, 2023  BEA  General banking facilities      642,797                 
      (i) Invoice financing loan  Higher of HIBOR +2.5% or Prime rate -1%        

-

    175,430    -  
      (ii) Revolving loan  Higher of HIBOR +3% or Prime rate -0.5%        

-

    257,119    -  
      (iii) Bank overdraft  Higher of HIBOR +3% or Prime rate        

-

    

11,861

    -  
July 8, 2024  BEA  General banking facilities      

646,538

                 
      (i) Invoice financing loan  Higher of HIBOR +2.5% or Prime rate -1%        

62,794

    

-

     -  
      (ii) Revolving loan  Higher of HIBOR +3% or Prime rate -0.5%        

258,615

    

-

     -  
      (iii) Bank overdraft  Higher of HIBOR +3% or Prime rate        138,954    

-

     -  
July 10, 2023  Shanghai Commercial Bank (“SHCB”)  Revolving Loan  “HKD) Prime Rate -0.75% USD) Prime Rate -1.75%”   642,797    

-

    601,916    -  
September 4, 2024 

SHCB

 

Revolving Loan

 

“HKD) Prime Rate -0.75% USD) Prime Rate -1.75%”

   

1,939,613

    

1,321,523

    

-

    -  
June 2, 2023  Mercedes-Benz Financial Services Hong Kong Ltd.  Obligation from finance lease for motor vehicle  2.680%   57,414                 
      - Short-term loan portion           11,125    10,319    -  
      - Long-term loan portion           24,489    35,408    -