3.
ACCOUNTS RECEIVABLE, NET
The
following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands):
SCHEDULE OF ACCOUNTS RECEIVABLE
| | |
March 31, 2026 | | |
December 31, 2025 | |
| | |
As of | |
| | |
March 31, 2026 | | |
December 31, 2025 | |
| Trade receivables | |
$ | 242,142 | | |
$ | 191,792 | |
| Less: allowance for credit losses | |
| (14,210 | ) | |
| (13,772 | ) |
| Total | |
$ | 227,932 | | |
$ | 178,020 | |
Trade
receivables relate to the sale of services, for which credit is extended based on the Company’s evaluation of the customer’s
creditworthiness. The movement in the allowance for credit losses is as follows (in US$ thousands):
SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS
| | |
March 31, 2026 | | |
March 31, 2025 | |
| | |
For the three-month period ended | |
| | |
March 31, 2026 | | |
March 31, 2025 | |
| | |
| | |
| |
| Allowance for credit losses at beginning of period | |
$ | (13,772 | ) | |
$ | (15,206 | ) |
| (Increase) decrease to allowance for the period | |
| (480 | ) | |
| 16 | |
| Write-off of credit losses | |
| 42 | | |
| 160 | |
| Reclassifications | |
| - | | |
| - | |
| Allowance for credit losses at end of period | |
$ | (14,210 | ) | |
$ | (15,030 | ) |
|