v3.25.2
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) income $ (474,101) $ 108,418 [1] $ 135,847 [1]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation of plant and equipment 19,502 31,173 [1] 100,533 [1]
Amortization of right-of-use assets 186,762 198,535 [1] 203,411 [1]
Loss on disposal of plant and equipment [1] 114,013 [1]
Amortisation of share-based compensation expense 33,334 [1] [1]
Non cash discount on convertible notes 402,500 [1] [1]
Provision of expected credit loss allowance 625 [1] 10,777 [1]
Interest expense 778,656 46,179 [1] [1]
Waiver of related party balance (88,151) [1] [1]
Gain on lease modification (13,092) [1] [1]
Gain on promissory note (953,861) [1] [1]
Directors’ remuneration [1] 240,000 [1]
Legal and professional fee 27,320 [1] [1]
(Gain on) Provision for income taxes (486,706) [1] 208,141 [1]
Changes in operating assets and liabilities:      
Accounts receivable (39,871) 1,166 [1] 129,922 [1]
Inventories 45,451 (80,665) [1] (7,219) [1]
Deposit and other receivables, net (2,000,851) (448,266) [1] (15,197) [1]
Accounts payable 1,126,338 71,362 [1] 58,752 [1]
Accrued liabilities and other payables (6,750,587) (51,167) [1] 190,689 [1]
Contract liabilities 55,552 (1,352,231) [1] 548,010 [1]
Operating lease liabilities (204,846) (230,433) [1] (175,132) [1]
Finance lease liabilities [1] (19,476) [1]
Tax paid 11,746 [1] (12,170) [1]
Net cash (used in) provided by operating activities (8,264,074) (1,766,135) [1] 1,710,901 [1]
CASH FLOWS FROM INVESTING ACTIVITY      
Purchase of plant and equipment (53,045) (69,848) [1] (94,452) [1]
Net cash used in investing activity (53,045) (69,848) [1] (94,452) [1]
CASH FLOWS FROM FINANCING ACTIVITIES      
Amount due from A SPAC I 140,000 (140,000) [1] [1]
Finance lease (6,446) (9,317) [1] (19,476) [1]
Other borrowings, net 8,583,597 [1] 128,204 [1]
Issuance of shares (net of reverse capitalization effect) 192,308 [1] [1]
Interest paid (677,663) (24,704) [1] [1]
Amount with related parties 508,738 1,863,206 [1] (1,742,509) [1]
Subscription receivable 127,564 [1] [1]
Net cash provided by (used in) financing activities 8,675,790 1,881,493 [1] (1,633,781) [1]
Net increase/(decrease) in cash and cash equivalents 358,671 45,510 [1] (17,332) [1]
Effect of foreign currency translation on cash and cash equivalents 44,965 (18,962) [1] 16,124 [1]
Cash and cash equivalents, beginning of year [1] 54,104 27,556 28,764
Cash and cash equivalents, end of year 457,740 54,104 [1] 27,556 [1]
Supplementary cash flow information:      
Taxes paid [1] (12,170) [1]
Interest paid $ (768,068) $ (24,704) [1] $ (55,469) [1]
[1] Re-presented as mentioned in Note 23