| Schedule of Income Tax Benefit/Expense |
| | |
December 31,
2023 | | |
December 31,
2024 | | |
December 31,
2025 | |
| | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| |
| Current income tax expense | |
| - | | |
| 40,902 | | |
| 647,318 | |
| Deferred tax | |
| - | | |
| 75,978 | | |
| (4,085 | ) |
| Over provision in prior year | |
| (135,031 | ) | |
| (8,464 | ) | |
| (5,126 | ) |
| Income tax (benefit)/expense | |
| (135,031 | ) | |
| 108,416 | | |
| 638,107 | |
|
| Schedule of Profit Before Income Tax Differs from Using Standard Rate of Income Tax |
The tax on the Company’s profit
before income tax differs from the theoretical amount that would arise using the Malaysia’s standard rate of income tax as follows
| | |
December 31,
2023 | | |
December 31,
2024 | | |
December 31,
2025 | |
| | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| |
| Profit /(Loss) before income tax | |
| 7,102,486 | | |
| 7,685,243 | | |
| (29,621,520 | ) |
| | |
| | | |
| | | |
| | |
| Tax calculated at tax rate of 24% | |
| 1,704,597 | | |
| 1,844,458 | | |
| (7,109,165 | ) |
| Effects of: | |
| | | |
| | | |
| | |
| - Non-taxable income | |
| (2,975,662 | ) | |
| (2,837,492 | ) | |
| 5,436,286 | |
| - Unutilised tax losses forfeited | |
| - | | |
| - | | |
| - | |
| - Unabsorbed tax losses | |
| 1,164,987 | | |
| 392,552 | | |
| 736,095 | |
| - Expenses not deductible for tax purposes | |
| 106,078 | | |
| 641,384 | | |
| 1,584,102 | |
| | |
| - | | |
| 40,902 | | |
| 647,318 | |
| Deferred tax | |
| - | | |
| 75,978 | | |
| (4,085 | ) |
| Over provision in prior year | |
| (135,031 | ) | |
| (8,464 | ) | |
| (5,126 | ) |
| | |
| (135,031 | ) | |
| 108,416 | | |
| 638,107 | |
|