| NOTE 12 |
INVESTMENT IN AN ASSOCIATE |
ModuLink Australia Pty Limited was incorporated
in Australia on 30 July 2024 for providing construction and engineering services in Australia.
| Schedule of construction and engineering services | |
| |
|
| | |
| March 31,
2026 | | |
| December 31,
2025 | |
| Investment cost | |
$ | 3 | | |
$ | 3 | |
The following table summarises the financial
information of the associate as included in its own financial statements and also reconciles the summarized financial information to
the carrying amount of the Group’s interest in the associate.
| Schedule of carrying
amount of Group’s interest in associate | |
| |
|
| Ownership/Control interest | |
| 40% | | |
| 40% | |
| Non-current assets | |
$ | 222,546 | | |
$ | – | |
| Current assets | |
| 1,499 | | |
| – | |
| Non-current liabilities | |
| – | | |
| – | |
| Current liabilities | |
| (350,521 | ) | |
| – | |
| Net liabilities (100%) | |
$ | (126,476 | ) | |
$ | – | |
| | |
| | | |
| | |
| Group’s share of net liabilities (40%) | |
$ | (50,590 | ) | |
$ | – | |
| | |
| | | |
| | |
| | |
Three months ended March 31, 2026 | |
Three months ended
March 31, 2025 |
| Revenue | |
$ | – | | |
$ | – | |
| Loss from continuing operations | |
| (44,827 | ) | |
| – | |
| Other comprehensive income | |
| (5,096 | ) | |
| – | |
| Total comprehensive loss (100%) | |
$ | (49,923 | ) | |
$ | – | |
| | |
| | | |
| | |
| Group’s share of comprehensive loss (40%) | |
$ | (19,969 | ) | |
$ | – | |
|