v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (2,543,959) $ (648,854) $ (596,881)
Depreciation 584 1,228 2,603
Amortization of the right-of-use asset, finance lease 14,453 7,201
Expected credit loss allowance and bad debt written-off 636,182 220,935 168,817
Contract assets 1,587,435 (676,760) (233,069)
Accounts receivables 28,745 (3,071,069) (413,098)
Other receivables (80,814) (131,859) 16,496
Retention receivables (129,705) (114,958) (5,786)
Advance and prepayments 19,175 (28,591) (142,557)
Accounts payables (630,119) 422,256 226,336
Other payables (9,768) 77,572 (12,922)
Contract liabilities (466,549) 126,764 637,297
Leases interest expenses 2,630 1,588
Provision for long service payments 8,813
Operating lease right-of-use assets 115,541 23,984
Operating lease payments (122,584) (23,821)
Net cash used in operating activities (1,569,940) (3,814,384) (352,764)
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayments of bank loans (4,715,360) (1,436,277) (440,623)
Proceeds from new bank loans 5,338,220 2,025,044 537,371
Advance from / (Repayment to) a director 11,823 (524,816) 325,783
Proceeds from private placement and initial public offer 8,350,000
Net cash provided by financing activities 634,683 8,413,951 422,531
Net (decrease) / increase of cash and cash equivalents (935,257) 4,599,567 69,767
Effect of foreign currency translation on cash and cash equivalents 29,578 1,010 2,111
Cash and cash equivalents, beginning of year 5,210,193 609,616 537,738
Cash and cash equivalents, end of year 4,304,514 5,210,193 609,616
Supplementary cash flow information:      
Taxes paid
Interest paid 127,173 59,976 35,377
Listing fee $ 190,506 $ 1,241,199 $ 328,699