Schedule
of finance cost
| | |
2026
USD | | |
2025
USD | |
| Imputed interest expense on related party loan
(note a) | |
| 184,172 | | |
| 134,193 | |
| Fair value gain on marketable securities (note b) | |
| (16,546 | ) | |
| - | |
| Bank interest expense | |
| 131 | | |
| - | |
| Finance
cost | |
| 167,757 | | |
| 134,193 | |
| a. | IMC
has a related party loan with the UBO, which is interest-free. In accordance with IFRS 9
Financial Instruments, the loan has been measured initially at fair value and is subsequently
measured at amortized cost using the effective interest method. |
To
determine the market-based discount rate appropriate for valuing this interest-free loan, management exercised judgement and estimated
a market interest rate of 8% per annum, based on prevailing borrowing rates within the rare earth mineral mining industry
and the maturity of the business.
| b. | Marketable
securities comprise investments in liquid money market funds, classified as financial assets
at FVTPL under IFRS 9 and
the fair value gain represents the fluctuation in the funds’ net asset values
as determined using quoted price in active market. During the year, fair value gain of
$16,546 (2025: $Nil) was recognized in profit or loss within finance costs. |
|