Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Taxes [Abstract] | |
| INCOME TAXES | 12. INCOME TAXES
The effective income tax rate was 9.9% and 8.0% for six months ended June 30, 2026 and 2025, respectively, which were higher than the 0% statutory income tax rate of Cayman Island and were primarily due to the United Arab Emirates subsidiary which is subject to an income tax rate of 9% and the Singapore subsidiary which is subject to an income tax rate of 17%.
As of June 30, 2026 and December 31, 2025, the Company has identified any uncertain tax positions requiring a reserve. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of June 30, 2026 and December 31, 2025, the Company had accrued interest or penalties related to income taxes. |