v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases  
SCHEDULE OF COMPONENTS OF LEASE AND SUPPLEMENTAL CASH FLOW INFORMATION

The components of lease expense and supplemental cash flow information related to operating leases and finance leases for the periods are as follows:

 

   2025   2024 
   Six Months Ended June 30, 
   2025   2024 
   (Unaudited)   (Unaudited) 
Lease costs          
Operating lease costs:          
Rental expenses (1)  $48,853   $48,720 
Other rental expenses (2)   7,667    8,160 
 Total operating lease costs    56,520    56,880 
Finance lease costs:          
Interest expenses  $466   $544 
Total finance lease costs   466    544 
Total lease costs  $56,986   $57,424 
           
Other information          
Cash paid for amounts included in the measurement of lease liabilities:          
Rental payment - operating leases  $48,853   $48,720 
Interest repayment - finance leases   466    457 
Principal repayment - finance leases   1,899    1,357 
Total cash paid  $51,218   $50,534 
Non-cash activity:          
Balance payment of ROU asset by finance lease liabilities  $12,894   $14,964 
Weighted average remaining lease term (in years):          
Operating leases   0.70    0.70 
Finance leases   2.92    3.92 
Weighted average discount rate:          
Operating leases   4.0%   4.0%
Finance leases   6.9%   6.9%

 

(1) Rental expenses include amortization of $47,582 and $46,821 and interest expenses of $1,271 and $1,899 during the six months ended June 30, 2025, and 2024, respectively.
   
(2) Other rental expenses represent those rental expenses for leases with a lease term within one year, and government rent and rates related to the leases.
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

The supplemental balance-sheet information related to leases for the periods is as follows:

 

   As of
June 30, 2025		   As of
December 31, 2024		 
   (Unaudited)   (Audited) 
Assets          
Long-term operating lease ROU assets, net (1)  $67,304   $19,929 
Long-term finance lease ROU asset, net (2)   18,364    20,272 
Total ROU assets  $85,668   $40,201 
           
Liabilities          
Current portion of operating lease liabilities  $67,304   $19,929 
Current portion of finance lease liabilities   4,135    3,766 
Total current lease liabilities   71,439    23,695 
           
Long-term finance lease liabilities   8,759    10,235 
Total long-term lease liabilities   8,759    10,235 
Total lease liabilities  $80,198   $33,930 

 

(1) Operating lease ROU assets are measured at cost of $446,684 and $351,829, net of accumulated amortization of $379,380 and $331,900 as of June 30, 2025, and December 31, 2024 respectively.
   
(2) Finance lease ROU assets are measured at cost of $28,898, net of accumulated amortization of $10,534 and $8,626 as of June 30, 2025 and December 31, 2024, respectively.
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of the Company’s lease liabilities as of June 30, 2025, are as follows:

 

   Operating leases   Finance leases 
   (Unaudited)   (Unaudited) 
Year ending December 31,          
2025 (remaining 6 months)   48,534    2,445 
2026   19,831    4,891 
2027   -    4,891 
2028   -    2,035 
Total future minimum lease payments   68,365    14,262 
Less: Imputed interest/present value discount   (1,061)   (1,368)
Present value of lease liabilities  $67,304   $12,894 
           
Lease obligations          
Current lease obligations  $67,304   $4,135 
Long-term lease obligations   -    8,759 
Total lease obligations  $67,304   $12,894