v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
SCHEDULE OF FOREIGN CURRENCY TRANSLATION

Translation of amounts has been made at the following exchange rates into US$1 for the six months ended June 30, 2024 and 2025:

 

   Six months ended June 30, 
   2024   2025 
Period-end SGD:US$1 exchange rate   1.3552    1.2750 
Average SGD:US$1 exchange rate   1.3517    1.3198 
Period-end AUD:US$1 exchange rate   0.6676    0.6533 
Average AUD:US$1 exchange rate   0.6641    0.6346 
Period-end EUR:US$1 exchange rate   1.0711    1.1723 
Average EUR:US$1 exchange rate   1.0763    1.0975 
Period-end JPY:US$1 exchange rate   160    144 
Average JPY:US$1 exchange rate   157    147 
Period-end KRW:US$1 exchange rate   1,376    1,337 
Average KRW:US$1 exchange rate   1,379    1,400 
Period-end GBP:US$1 exchange rate   1.2640    1.3719 
Average GBP:US$1 exchange rate   1.2716    1.3071 
SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIFE

 

   Expected useful life 
Leasehold improvements   Shorter of 3 years or the term of lease 
Freehold buildings   26 – 35 years 
Office equipment   3-15 years 
Furniture and fittings   1-23 years 
Motor vehicles   5-6 years 
SCHEDULE OF DISAGGREGATED ITS REVENUE FROM CONTRACTS WITH CUSTOMERS AND GEOGRAPHICAL REGION

The Company has disaggregated its net revenue from contracts with customers into categories based on business segments, as follows:

 

            
      Six months ended June 30, 
Product sales, by business segments:  Point of recognition  2024   2025 
Export sales  At a point in time  $148,257,093   $168,009,212 
Retail sales  At a point in time   2,003,351    3,382,273 
Leather trading  At a point in time   6,051,665    9,383,318 
Total     $156,312,109   $180,774,803