Investment Properties

12 Months Ended

Dec. 31, 2024

9. Investment Properties

At December 31, 2023, the Group has no investment properties.

	2024
	Land			Building			Total
January 1	$	—		$	—		$	—
Acquisition through business combination (Note)		2,212,683			225,274			2,437,957
Depreciation expenses		—			(1,857	)		(1,857	)
Exchange difference		(41,537	)		(4,699	)		(46,236	)
December 31	$	2,171,146		$	218,718		$	2,389,864

December 31
Cost	$	2,171,146		$	220,544		$	2,391,690
Accumulated depreciation		—			(1,826	)		(1,826	)
	$	2,171,146		$	218,718		$	2,389,864

Note: Acquisition of investment properties through business combination please refer to Note 32 for details.

a) Amounts recognized in profit or loss for investment properties are listed below:

	Year ended December 31,
	2023		2024
Rental income from operating leases	$	—	$	21,894
Direct operating expenses from property that generated rental income		—		(3,543	)

b) Information about investment properties that were pledged to the bank as collaterals is provided in Note 38.

c) Contractual obligations:

There are no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements.

d) Leasing arrangements:

The investment properties are leased to tenants under operating leases, with rentals payable monthly. Lease income from operating leases where the Group is a lessor is recognized in income on a straight-line basis over the lease term.

The fair value of the investment property held by the Group as of December 31, 2024 was $2,437,957, please refer to Note 32 b) for details.

Minimum lease payments receivable on leases of investment properties are as follows:

	December 31, 2024
Within 1 year	$	41,852
Between 1 and 2 years		50,015
Between 2 and 3 years		51,845
Between 3 and 4 years		53,675
Between 4 and 5 years		55,505
Later than 5 years		9,302
	$	262,194