v3.25.2
DISPOSAL OF SUBSIDIARIES (Tables)
 12 Months Ended
Dec. 31, 2024
Disposal Of Subsidiaries  
SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP

 

    As of
April 28, 2023		  
    USD’000  
       
Right-of-use assets, net     3,756  
Inventories, net     3,634  
Trade receivables, net     405  
Other receivables and prepayments     407  
Cash and bank balances     36  
Accrued liabilities and other payables     (2,696 )
Amounts owed to related parties     (4,938 )
Lease liabilities     (2,720 )
Taxes payable     (11 )
SCHEDULE OF ASSETS AND LIABILITIES OF DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE

Assets and liabilities of the Disposal Group were classified as “Assets classified as held for sale” and “Liabilities directly associated with assets classified as held for sale” respectively, in accordance with IFRS 5 as at December 31, 2022, is summarized in the following table. 

 

    As of
December 31, 2022		  
    USD’000  
       
ASSETS CLASSIFIED AS HELD FOR SALE        
         
Right-of-use assets, net     4,485  
Inventories, net     4,168  
Trade receivables, net     1,694  
Other receivables and prepayments     435  
Cash and bank balances     44  
Total assets of the Disposal Group held for sale     10,826  

 

 

    As of
December 31, 2022		  
    USD’000  
       
LIABILITIES DIRECTLY ASSOCIATED WITH ASSETS CLASSIFIED AS HELD FOR SALE        
         
Accrued liabilities and other payables     2,783  
Amounts owed to related parties     5,083  
Lease liabilities     4,832  
Taxes payable     138  
Total liabilities of the Disposal Group directly associated with assets classified as held for sale     12,836  
SCHEDULE OF FINANCIAL PERFORMANCE AND CASH FLOW INFORMATION

The financial performance and cash flow information presented are for the years ended December 31, 2024, 2023 and 2022.

 

    2024     2023     2022  
    Years ended December 31,  
    2024     2023     2022  
      USD’000       USD’000       USD’000  
Financial performance                        
Net sales     -       381       5,602  
                         
Cost of goods sold     -       1,067       6,129  
                         
Gross profit (loss)     -       (686 )     (527)  
                         
Other income     -       807       2,117  
Selling and distribution expenses     -       (215 )     (879 )
Administrative expenses     -       (61 )     (7,623 )
Finance costs     -       (41 )     (220 )
                         
Loss before taxation     -       (196 )     (7,132 )
                         
Gain on disposal of discontinued operations     -       10,430       -  
                         
Net income (loss) for the year from discontinued operations     -       10,233       (7,132 )
                         
Cash flow information                        
                         
Net cash generated from operating activities from discontinued operations     -       1,994       740  
                         
Net cash used in investing activities from discontinued operations     -       -       -  
                         
Net cash used in financing activities from discontinued operations     -       (2,020 )     (2,126 )
                         
Net (decrease) increase in cash and cash equivalents from discontinued operations     -       (26 )     (1,386 )