| Trade and other receivables |
| 9. |
Trade and other receivables |
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
USD | | |
USD | |
| Trade receivables | |
| | |
| |
| Trade receivables (refer note a below) | |
| 5,843,587 | | |
| 4,701,900 | |
| Less: Allowances for expected credit losses | |
| (1,026,591 | ) | |
| (968,322 | ) |
| Trade receivables, net | |
| 4,816,996 | | |
| 3,733,578 | |
| | |
| | | |
| | |
| Ageing analysis of trade receivables | |
| | | |
| | |
| Not past due | |
| 2,644,699 | | |
| 2,176,512 | |
| Up to 60 days | |
| 1,237,287 | | |
| 814,010 | |
| 61 to 365 days | |
| 707,559 | | |
| 651,860 | |
| Over 1 year | |
| 1,254,042 | | |
| 1,059,518 | |
| | |
| 5,843,587 | | |
| 4,701,900 | |
| | |
| | | |
| | |
| Other receivables | |
| | | |
| | |
| Government grant receivable | |
| 18,791 | | |
| 6,137 | |
| Advance to employees | |
| - | | |
| 9,090 | |
| Deposit recoverable | |
| 46,505 | | |
| 29,216 | |
| Prepayments | |
| 136,581 | | |
| 47,125 | |
| Other receivables | |
| 9,869 | | |
| - | |
| | |
| 211,746 | | |
| 91,568 | |
| Total trade and other receivables | |
| 5,028,742 | | |
| 3,825,146 | |
| | a. | Included in trade receivables are unbilled revenue amounting to USD 1,712,206 and USD 1,147,184 at December 31, 2025 and 2024, respectively which related to I-Guarding services. The services are provided within the financial year end however billing was made subsequent to the financial year ended. According to the contract with the customer, the consideration on the services provided are unconditional as the performance obligation has been complied with. |
| |
b. |
Trade receivables are non-interest bearing and are generally on 30 days’ terms. |
| | c. | Lifetime expected loss provision for trade receivables of the Group are as follows: |
| | |
| |
December 31, 2025 | | |
December 31, 2024 | |
| Customers’ characteristics | |
Weighted- average expected credit loss rate | |
Gross carrying amount | | |
Allowance for expected credit losses | | |
Gross carrying amount | | |
Allowance for expected credit losses | |
| | |
| |
USD | | |
USD | | |
USD | | |
USD | |
| | |
| |
| | |
| | |
| | |
| |
| Low risk | |
0.6% - 0.8% | |
| 4,857,969 | | |
| 40,973 | | |
| 3,755,925 | | |
| 22,347 | |
| Loss | |
100% | |
| 985,618 | | |
| 985,618 | | |
| 945,975 | | |
| 945,975 | |
| | |
| |
| | | |
| | | |
| | | |
| | |
| | |
| |
| 5,843,587 | | |
| 1,026,591 | | |
| 4,701,900 | | |
| 968,322 | |
| | d. | The reconciliation of movement in the allowances for expected credit losses is as follows: |
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
USD | | |
USD | |
| Balance at January 1 | |
| 968,322 | | |
| 428,099 | |
| Impairment during the year | |
| 59,645 | | |
| 562,755 | |
| Written off | |
| (58,850 | ) | |
| - | |
| Currency translation adjustment | |
| 57,474 | | |
| (22,532 | ) |
| Balance at December 31 | |
| 1,026,591 | | |
| 968,322 | |
| |
e. |
Government grants receivables are pre-approved government grants granted to customers for adoption of digitalization. Such grant is directly disbursed to the Group. |
| |
f. |
The government grant receivables is in relation to approved innovation project implemented. There are no unfulfilled conditions or other contingencies attaching to this grant. |
|