v3.26.1
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Current and Deferred Portions of the Income Tax Expense

The current and deferred portions of the income tax expense included in the unaudited condensed consolidated statements of income and comprehensive income as determined in accordance with ASC 740 are as follows:

 

Schedule of Current and Deferred Portions of the Income Tax Expense 

   2026   2025 
  

For the Six Months Ended

June 30,

 
   2026   2025 
   (Unaudited)   (Unaudited) 
Current taxes  $513,209   $107,490 
Deferred taxes   -    - 
Income tax expense  $513,209   $107,490 
Schedule of Reconciliation of Difference between Expected Income Tax Expense

A reconciliation of the difference between the expected income tax expense computed at Singapore income tax rate of 17% and the Group’s reported income tax expense is shown in the following table:

 

   2026   2025 
  

For the Six Months Ended

June 30,

 
   2026   2025 
   (Unaudited)   (Unaudited) 
Income before income tax expense  $1,891,413   $198,477 
Applicable income tax rate   17%   17%
Income tax expense at applicable income tax rate  $321,540   $33,741 
Non-deductible expenses   29,821    24,716 
Effect of tax exemption scheme and tax reduction   (18,321)   (13,658)
Effect of unrecognized tax benefits on foreign losses   180,169    62,691 
Income tax expense  $513,209   $107,490 
Schedule of Components of Deferred Tax Assets and Liabilities

The Group measures deferred tax assets and liabilities based on the difference between the financial statement and tax bases of assets and liabilities at the applicable tax rates. Components of the Group’s deferred tax assets and liabilities are as follows:

 

Schedule of Components of Deferred Tax Assets and Liabilities 

  

June 30,

2026

  

December 31,

2025

 
   As of 
  

June 30,

2026

  

December 31,

2025

 
   (Unaudited)   (Audited) 
Deferred tax assets:          
Allowance for credit loss  $2,065   $2,065 
Operating lease liabilities   6,538    6,538 
Others   1,807    1,807 
           
Total deferred tax assets  $10,410   $10,410 
           
Deferred tax liabilities:          
Depreciation and amortization   (6,703)   (6,703)
ROU assets   (5,799)   (5,799)
Others   (253)   (253)
           
Total deferred tax liabilities  $(12,755)  $(12,755)
           
Deferred tax liabilities, net  $(2,345)  $(2,345)
Schedule of Movement of Deferred Tax (Liabilities) Assets

Movement of the Group’s deferred tax liabilities during the periods is as follows:

 

Schedule of Movement of Deferred Tax (Liabilities) Assets 

  

For the Six Months Ended

June 30,

 
   2026   2025 
   (Unaudited)   (Unaudited) 
Beginning balance at January 1, 2026 and 2025  $(2,345)  $(8,243)
Credited to the unaudited condensed consolidated statements of income and comprehensive income   -    - 
Ending balance at June 30, 2026 and 2025  $(2,345)  $(8,243)