| PROPERTY, PLANT AND EQUIPMENT |
NOTE
7 – PROPERTY, PLANT AND EQUIPMENT
A
summary of property, plant and equipment at June 30, 2025 and 2024 is as follows:
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT
| | |
2025 | | |
2024 | |
| | |
As of June 30, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Land and building | |
$ | - | | |
$ | 1,258,360 | |
| Plant and machinery | |
| 1,843,774 | | |
| 1,875,761 | |
| Office equipment | |
| 6,161 | | |
| 6,168 | |
| Computers | |
| 14,233 | | |
| 13,908 | |
| Motor vehicles | |
| 4,240 | | |
| 140,989 | |
| Furniture and fittings | |
| 4,421 | | |
| 16,359 | |
| Renovation | |
| 4,431 | | |
| 4,431 | |
| Property, plant and equipment, gross | |
| 1,877,260 | | |
| 3,315,976 | |
| Less: accumulated depreciation | |
| (480,820 | ) | |
| (382,141 | ) |
| Foreign exchange adjustment | |
| 178,544 | | |
| (17,829 | ) |
| Total Property, plant and equipment | |
$ | 1,574,984 | | |
$ | 2,916,006 | |
VERDE
RESOURCES, INC.
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
FOR
THE YEARS ENDED JUNE 30, 2025 AND 2024
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
Property,
Plant and Equipment
| |
● |
Depreciation
expense for the years ended June 30, 2025 and 2024: $248,940 and $417,517, respectively |
| |
|
|
|
| |
● |
Impairment
losses for the years ended June 30, 2025 and 2024: $137,632 and $134,042, respectively, related to assets intended to be disposed
and transferred to assets held for disposal at net carrying values of $350,000 and $606,043, respectively |
| |
|
|
|
| |
● |
Write-offs
of plant and machinery for the years ended June 30, 2025 and 2024: $0 and $3,979, respectively |
| |
|
|
|
| |
● |
Assets
pledged as collateral: |
| |
|
|
|
| |
|
○ |
Land
and buildings with a net carrying amount of $0
and $701,817
as of June 30, 2025 and 2024, respectively |
| |
|
|
|
| |
● |
Assets
under financing arrangements: |
| |
|
|
|
| |
|
○ |
Plant
and machinery: $0 and $7,688 as of June 30, 2025 and 2024, respectively |
| |
|
|
|
| |
|
○ |
Motor
vehicles: $0 and $98,362 as of June 30, 2025 and 2024, respectively |
On
December 10, 2024, CEO Jack Wong entered into a Sale and Purchase Agreement (the “Wong Agreement”) with VRI to purchase
the Property at the current market value of $857,500
with payment in equal installments over 26 pay cycles. Pursuant to the Agreement, VRI shall immediately transfer ownership of the
Property to CEO Jack Wong by Warranty Deed, free of encumbrances except as specified in the Agreement. The transfer of title was
completed on December 19, 2024.
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