| NOTE 12 |
INVESTMENT IN AN ASSOCIATE |
ModuLink Australia Pty Limited was incorporated
in Australia on 30 July 2024 for providing construction and engineering services in Australia.
| Schedule of construction and engineering services | |
| |
|
| | |
June
30, 2026
| | |
December
31, 2025
| |
| Investment cost | |
$ | 3 | | |
$ | 3 | |
The following table summarises the financial information
of the associate as included in its own financial statements and also reconciles the summarized financial information to the carrying
amount of the Group’s interest in the associate.
| Schedule of carrying amount of Group’s interest in associate | |
| |
|
| Ownership/Control interest | |
40% | |
40% |
| Non-current assets | |
$ | 222,546 | | |
$ | – | |
| Current assets | |
| 1,215 | | |
| – | |
| Non-current liabilities | |
| – | | |
| – | |
| Current liabilities | |
| (373,607 | ) | |
| – | |
| Net liabilities (100%) | |
$ | (149,846 | ) | |
$ | – | |
| | |
| | | |
| | |
| Group’s share of net liabilities (40%) | |
$ | (59,938 | ) | |
$ | – | |
| | |
| |
|
| | |
Six months ended
June 30, 2026 | |
Six months ended June 30, 2025 |
| Revenue | |
$ | – | | |
$ | – | |
| Loss from continuing operations | |
| (78,731 | ) | |
| – | |
| Other comprehensive income | |
| 4,763 | | |
| – | |
| Total comprehensive loss (100%) | |
$ | (73,968 | ) | |
$ | – | |
| | |
| | | |
| | |
| Group’s share of comprehensive loss (40%) | |
$ | (29,587 | ) | |
$ | – | |
|