v3.25.4
RECEIVABLES FROM CUSTOMERS, NET
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
North Water Investment Group Holdings Limited [Member]    
Restructuring Cost and Reserve [Line Items]    
RECEIVABLES FROM CUSTOMERS, NET  

4. RECEIVABLES FROM CUSTOMERS, NET

 

Receivables from customers, net comprised the following:

 

SCHEDULE OF RECEIVABLES FROM CUSTOMERS NET

   2023   2024 
   As of December 31, 
   2023   2024 
   HK$   HK$ 
         
Receivables from customers arising from the business of:          
Dealing in securities for cash clients   55,584    64,272 
Generating retrocession fee income   -    211,745 
Receivables, gross   55,584    276,017 
Less: allowance for credit losses   -    (62,263)
Receivables, net   55,584    213,754 

 

The movement of the allowance for credit losses for receivables from customers was as follows:

 

SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSSES FOR RECEIVABLES FROM CUSTOMERS

   2023   2024 
   As of December 31, 
   2023   2024 
   HK$   HK$ 
         
Beginning balance   -    - 
Allowance for credit losses recognized   -    62,263 
Ending balance   -    62,263 

 

Mango Financial Group Limited [Member]    
Restructuring Cost and Reserve [Line Items]    
RECEIVABLES FROM CUSTOMERS, NET
4. RECEIVABLES FROM CUSTOMERS, NET

 

Receivables from customers, net comprised the following:

 

   2024   2025 
   As of 
   December 31,   June 30, 
   2024   2025 
   HK$   HK$ 
       (Unaudited) 
         
Receivables from customers arising from the business of:          
Dealing in securities for cash clients   64,272    1,365,628 
Generating retrocession fee income   211,745    - 
Receivables, gross   276,017    1,365,628 
Less: allowance for credit losses   (62,263)   (62,263)
Receivables, net   213,754    1,303,365 

 

The movement of the allowance for credit losses for receivables from customers was as follows:

 

   2024   2025 
   As of 
   December 31,   June 30, 
   2024   2025 
   HK$   HK$ 
       (Unaudited) 
         
Beginning balance   -    62,263 
Allowance for credit losses recognized   62,263    - 
Ending balance   62,263    62,263 

 

For the six months ended June 30, 2024 and 2025, no allowance for credit losses was recognized.