v3.26.1
PREPAYMENTS
 12 Months Ended
Dec. 31, 2025
Summary Of Current And Non-current Prepayments  
PREPAYMENTS

 

8 PREPAYMENTS

 

   2025   2024 
   USD   USD 
Advance payments made for:          
Purchase of flooring and decking products (Note 1)   4,809,834    3,529,149 
Purchase of logs (Note 2)   147,536    257,458 
Harvesting work in concessions and wood processing services (Note 3)   -    1,704,695 
Harvesting cost (Note 4)   -    400,860 
Others (Note 5)   210,992    400,327 
Total   5,168,362    6,292,489 
Less: Amounts to be utilized within 12 months shown under current assets   (5,168,362)   (6,292,489)
Amounts to be utilized after 12 months shown under non-current assets   -    - 

 

Notes:

 

  1. Included in the prepayments, USD4.8 million (2024: USD3.5 million) was advanced for the purchase of flooring and decking products in order to secure our supply chain of wood products to our customers.
     
  2. Included in the prepayments, USD0.1 million (2024: USD0.3 million) was advanced for the purchase of logs in Peru to secure the raw materials supply for our wood processing for production. Provision for impairment of prepayments amounted to USD17,794 for the year ended December 31, 2025.
     
  3. Included in the prepayments, nil (2024: USD1.7 million) was advanced for harvesting work in our timber concessions and wood processing services. Provision for impairment of prepayments amounted to USD1.8 million for the year ended December 31, 2025 (2024: USD35,465).
     
  4. Included in the prepayments, nil (2024: USD0.4 million) was the harvesting cost to be transferred to inventories upon the receipt of logs. Provision for impairment of prepayments amounted to nil as at December 31, 2025 (2024: USD624,423)
     
  5. Remaining amounts of the prepayments were advance payments made to Group’s operating expenses. Provision for impairment of prepayments amounted to USD230,485 for the year ended December 31, 2025.