| Schedule of Trade and Other Receivables |
| | |
December 31,
2024 | | |
December 31,
2025 | |
| | |
US$ | | |
US$ | |
| Trade receivables | |
| | |
| |
| - Third parties | |
| 4,055,836 | | |
| 9,494,364 | |
| - Related parties | |
| - | | |
| - | |
| | |
| 4,055,836 | | |
| 9,494,364 | |
| Less: Provision for allowance for expected credit losses - trade receivables | |
| (469,101 | ) | |
| (4,548,696 | ) |
| | |
| 3,586,735 | | |
| 4,945,668 | |
| | |
| | | |
| | |
| Other receivables | |
| 15,990,071 | | |
| 21,420,605 | |
| Less: Provision for allowance for expected credit losses - other receivables | |
| (366,408 | ) | |
| (2,573,502 | ) |
| | |
| 15,623,663 | | |
| 18,847,103 | |
| | |
| | | |
| | |
| Deposits | |
| 167,652 | | |
| 281,671 | |
| Prepayments | |
| 10,631,125 | | |
| 5,438,233 | |
| | |
| 26,422,440 | | |
| 24,567,007 | |
| Total trade and other receivables | |
| 30,009,175 | | |
| 29,512,675 | |
| | |
| | | |
| | |
| Movement in provision for allowance for expected credit losses on trade receivables is as follows: | |
| | | |
| | |
| | |
| | | |
| | |
| At beginning of the year | |
| 563,288 | | |
| 469,101 | |
| Additions | |
| 549,924 | | |
| 5,155,117 | |
| Write off / Reversal | |
| (646,790 | ) | |
| (60,807 | ) |
| Disposal of subsidiaries | |
| - | | |
| (637,425 | ) |
| Currency realignment | |
| 2,679 | | |
| (377,290 | ) |
| At end of the year | |
| 469,101 | | |
| 4,548,696 | |
| | |
| | | |
| | |
| Movement in provision for allowance for expected credit losses on other receivables is as follows: | |
| | | |
| | |
| | |
| | | |
| | |
| At beginning of the year | |
| - | | |
| 366,408 | |
| Additions | |
| 369,347 | | |
| 2,866,997 | |
| Write off / Reversal | |
| - | | |
| (265,921 | ) |
| Disposal of subsidiaries | |
| | | |
| (317,633 | ) |
| Currency realignment | |
| (2,939 | ) | |
| (76,349 | ) |
| At end of the year | |
| 366,408 | | |
| 2,573,502 | |
The
average credit period for services rendered is 30 (2024: 30) days. No interest is charged on the outstanding balances.
| |
|
December 31,
2024 |
|
|
December 31,
2025 |
|
| |
|
US$ |
|
|
US$ |
|
| Not past due |
|
|
2,296 |
|
|
|
1,161,427 |
|
| Past due (i) |
|
|
4,053,540 |
|
|
|
8,332,937 |
|
| Less: Provision for allowance for expected credit losses |
|
|
(469,101 |
) |
|
|
(4,548,696 |
) |
| |
|
|
3,586,735 |
|
|
|
4,945,668 |
|
| (i) | Aging
of receivables that are past due the average credit period: |
|
| Schedule of Aging of Receivables that are Past Due the Average Credit Period |
Aging
of receivables that are past due the average credit period:
| |
|
December 31,
2024 |
|
|
December 31,
2025 |
|
| |
|
US$ |
|
|
US$ |
|
| < 30 days |
|
|
824,795 |
|
|
|
21,842 |
|
| 31 days to 60 days |
|
|
101,561 |
|
|
|
23,193 |
|
| 61 days to 210 days |
|
|
1,396,810 |
|
|
|
234,297 |
|
| 211 days to 240 days |
|
|
792,072 |
|
|
|
879 |
|
| 241 days to < 1 year |
|
|
938,302 |
|
|
|
8,052,726 |
|
| Total (ii) |
|
|
4,053,540 |
|
|
|
8,332,937 |
|
| (ii) | These
amounts are stated before any deduction for provision for allowance for ECL and are not secured by any collateral or credit enhancements. |
|
| Schedule of Provision Matrix Trade Receivables |
The
following table details the provision for ECL based on the Company’s provision matrix, based on past due status is not further
distinguished between the Company’s different customer base:
| | |
Trade
receivables – days past due | |
| | |
Not
past due | | |
1
to 30
days | | |
31-60
days | | |
61-210
days | | |
211
- 240
days | | |
Over
241
days | | |
Total | |
| | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | | |
US$ | |
| Lifetime ECL – December
31, 2024 | |
| - | | |
| 30,241 | | |
| 12,280 | | |
| 213,390 | | |
| 149,995 | | |
| 63,195 | | |
| 469,101 | |
| Lifetime ECL – December 31, 2025 | |
| - | | |
| 1,169 | | |
| 1,210 | | |
| 14,163 | | |
| 58 | | |
| 4,532,096 | | |
| 4,548,696 | |
|