v3.26.1
Accounts Receivables
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts Receivables

6. Accounts receivables

 

Accounts receivables consisted of the following (in $000s):

 

   March 31,   December 31, 
   2026   2025 
Accounts receivables, gross   1,474    1,704 
Allowance for doubtful debt   (286)   (447)
Total accounts receivable, net  $1,188   $1,257 

 

Allowance for doubtful debt, which stood at $286,000 as at March 31, 2026 and $447,000 as at December 31, 2025 is determined based on expected credit losses. Losses are provided at the rate of 10% against balances greater than 120-149 days, 25% against balances greater than 150-179 days, 35% against balances greater than 180-364 days, and 50% against balances greater than 365 days.

 

Movement in provision for doubtful debt    
Provision for doubtful debt as December 31, 2025   (447)
Reduction in provision during the three months ended March 31, 2026   162 
Foreign exchange translation adjustment   (1)
Addition   - 
Provision for doubtful debt as March 31, 2026  $(286)

 

7. Accounts receivable

 

The following is a summary of accounts receivable at December 31, 2025 and 2024 (in thousands):

 

   December 31,   December 31, 
   2025   2024 
Accounts receivables   1,257             — 
Total accounts receivables  $1,257   $— 

 

 

The above receivables are net of allowance for doubtful debt, which stood at $539,441 as at December 31, 2025, and is determined based on expected credit losses. Losses are provided at the rate of 10% against balances greater than 120-149 days, 25% against balances greater than 150-179 days, 35% against balances greater than 180-364 days, and 50% against balances greater than 365 days.

 
Future NRG Sdn. Bhd. [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts Receivables

6. ACCOUNTS RECEIVABLE, NET

 

 

  

Mar 31, 2026

(USD)

 
Trade receivables, gross   615,123 
Less: Allowance for expected credit losses   (313,610)
Trade receivables, net   301,513 
Other receivables   9,887 
Refundable deposits   20,619 
Prepayments   2,875 
Total accounts receivable, net   334,894 

 

One customer accounted for approximately 75.7% of gross trade receivables at March 31, 2026 (December 31, 2025: approximately 75.7%).

 

6. ACCOUNTS RECEIVABLE, NET

 

   Note  2025   2024 
      (USD)   (USD) 
Trade receivables, gross     602,579    538,423 
Less: Accumulated impairment     (312,455)   (251,199)
Trade receivables, net     290,124    287,224 
              
Other receivables      9,850    17,875 
Refundable deposits      20,542    18,488 
Total accounts receivable, net      320,516    323,587 
              
Movement in accumulated impairment:             
Opening balance     251,199    213,421 
Charge for the year     35,616    32,318 
Foreign exchange translation      25,640    5,460 
Closing balance      312,455    251,199 

 

One customer represented approximately 75.72% and 86.35% of gross trade receivables as of December 31, 2025 and 2024, respectively. A prior customer entered winding-up proceedings and the related receivable was fully impaired since previous years.