| DEFERRED TAXATION |
The movements in deferred tax assets/(liabilities) during
the year are as follows:
Deferred tax liabilities
| | |
Provision for
defined
benefit
obligations | | |
Depreciation
allowance in
excess of
related
depreciation | | |
Right-of-use
assets | | |
Total | |
| | |
US$ | | |
US$ | | |
US$ | | |
US$ | |
| At January 1, 2024 | |
| (25,555 | ) | |
| (3,717 | ) | |
| (55,008 | ) | |
| (84,280 | ) |
| Deferred tax credited to profit or loss | |
| - | | |
| 3,395 | | |
| (65,211 | ) | |
| (61,816 | ) |
| Deferred tax credited to other comprehensive income/(loss) | |
| (3,754 | ) | |
| - | | |
| - | | |
| (3,754 | ) |
| Exchange realignment | |
| (548 | ) | |
| 322 | | |
| 2,762 | | |
| 2,536 | |
| At December 31, 2024 and January 1, 2025 | |
| (29,857 | ) | |
| - | | |
| (117,457 | ) | |
| (147,314 | ) |
| Deferred tax charged to profit or loss | |
| - | | |
| - | | |
| (15,531 | ) | |
| (15,531 | ) |
| Deferred tax charged to other comprehensive income/(loss) | |
| (12,556 | ) | |
| - | | |
| - | | |
| (12,556 | ) |
| Exchange realignment | |
| 3,100 | | |
| - | | |
| (3,247 | ) | |
| (147 | ) |
| Gross deferred tax liabilities at December 31, 2025 | |
| (39,313 | ) | |
| - | | |
| (136,235 | ) | |
| (175,548 | ) |
Deferred tax assets
| | |
Lease
liabilities | |
| | |
US$ | |
| At January 1, 2024 | |
| 55,008 | |
| Deferred tax credited to profit or loss | |
| 65,211 | |
| Exchange realignment | |
| (2,762 | ) |
| Gross deferred tax assets at December 31, 2024 and January 1, 2025 | |
| 117,457 | |
| Deferred tax credited to profit or loss | |
| 15,531 | |
| Exchange realignment | |
| 3,247 | |
| Gross deferred tax assets at December 31, 2025 | |
| 136,235 | |
For presentation purposes, certain
deferred tax assets and liabilities have been offset in the statements of financial position. The following is an analysis of the deferred
tax balances of the Group for financial reporting purposes:
| | |
2025 | | |
2024 | |
| | |
US$ | | |
US$ | |
| Net deferred tax assets recognized in the consolidated statement of financial position | |
| - | | |
| - | |
| Net deferred tax liabilities recognized in the consolidated statement of financial position | |
| 39,313 | | |
| 29,857 | |
|