3.
ACCOUNTS RECEIVABLE, NET
The
following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands):
SCHEDULE OF ACCOUNTS RECEIVABLE
| | |
| | |
| |
| | |
As
of | |
| | |
June
30, 2026 | | |
December
31, 2025 | |
| Trade
receivables | |
$ | 224,110 | | |
$ | 191,792 | |
| Less:
allowance for credit losses | |
| (15,278 | ) | |
| (13,772 | ) |
| Total | |
$ | 208,832 | | |
$ | 178,020 | |
Trade
receivables relate to the sale of services, for which credit is extended based on the Company’s evaluation of the customer’s
creditworthiness. The movement in the allowance for credit losses is as follows (in US$ thousands):
SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS
| | |
| | |
| | |
| | |
| |
| | |
For
the three-month
period ended | | |
For
the six-month
period ended | |
| | |
June
30, 2026 | | |
June
30, 2025 | | |
June
30, 2026 | | |
June
30, 2025 | |
| | |
| | |
| | |
| | |
| |
| Allowance
for credit losses at beginning of period | |
$ | (14,210 | ) | |
$ | (15,030 | ) | |
$ | (13,772 | ) | |
$ | (15,206 | ) |
| (Increase)
decrease to allowance for the period | |
| (1,304 | ) | |
| 766 | | |
| (1,784 | ) | |
| 782 | |
| Write-off
of credit losses | |
| 236 | | |
| 356 | | |
| 278 | | |
| 516 | |
| Allowance
for credit losses at end of period | |
$ | (15,278 | ) | |
$ | (13,908 | ) | |
$ | (15,278 | ) | |
$ | (13,908 | ) |
|