| TRADE AND OTHER RECEIVABLES, NET |
| 9 |
TRADE
AND OTHER RECEIVABLES, NET |
SCHEDULE OF TRADE AND OTHER RECEIVABLES
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Trade receivables – contracts with customers | |
| 3,015,429 | | |
| 1,638,529 | |
| Less: Allowance for credit losses | |
| (893,848 | ) | |
| (167,177 | ) |
| Trade receivables, net | |
| 2,121,581 | | |
| 1,471,352 | |
| | |
| | | |
| | |
| Other receivables | |
| 2,296,947 | | |
| 2,695,154 | |
| Less: Allowance for credit losses | |
| (162,498 | ) | |
| - | |
| Other receivables, net | |
| 2,134,449 | | |
| 2,695,154 | |
| Total | |
| 4,256,030 | | |
| 4,166,506 | |
| | |
| | | |
| | |
| Movement in the above allowance for credit losses of trade receivables: | |
| | | |
| | |
| Beginning balance | |
| 167,177 | | |
| 483,153 | |
| Disposal of subsidiaries | |
| (80,865 | ) | |
| - | |
| Charged (Credited) for the year | |
| 807,536 | | |
| (315,976 | ) |
| Ending balance | |
| 893,848 | | |
| 167,177 | |
| | |
| | | |
| | |
| Movement in the above allowance for credit losses of other receivables: | |
| | | |
| | |
| Beginning balance | |
| - | | |
| - | |
| Disposal of subsidiaries | |
| (589,907 | ) | |
| | |
| Charged (Credited) for the year | |
| 752,405 | | |
| - | |
| Ending balance | |
| 162,498 | | |
| - | |
The
normal credit period for customers is ranging from 30 to 90 days. No interest is charged on the outstanding balances.
SCHEDULE
OF CREDIT PERIOD FOR CUSTOMERS
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Not past due | |
| 2,366 | | |
| 136,006 | |
| Past due | |
| 3,013,063 | | |
| 1,502,523 | |
| Gross trade receivables | |
| 3,013,063 | | |
| 1,502,523 | |
| Less: Allowance for credit losses | |
| (893,848 | ) | |
| (167,177 | ) |
| Net trade receivables | |
| 2,121,581 | | |
| 1,471,352 | |
The
following is an aged analysis of trade receivables, net of allowance for credit losses, presented based on past due date:
SCHEDULE
OF AGED ANALYSIS OF TRADE RECEIVABLES
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| < 30 days | |
| 1,301,733 | | |
| 90,551 | |
| 31 days to 60 days | |
| 114,081 | | |
| 192,595 | |
| 61 days to 90 days | |
| 75,978 | | |
| 29,999 | |
| 91 days to 180 days | |
| 310,093 | | |
| 417,648 | |
| 181 days to 365 days | |
| 317,330 | | |
| 604,553 | |
| More than 1 year | |
| - | | |
| - | |
| Total | |
| 2,119,215 | | |
| 1,335,346 | |
As
at December 31, 2025, included in the Group’s trade receivables balance are debtors with aggregate carrying amount of USD2,119,215
(2024: USD1,335,346) which are past due as at the reporting date. Out of the past due balances, USD627,423 (2024: USD1,022,201) has been
past due 91 days or more and is not considered as in default because subsequent settlements were made from these debtors.
Details
of impairment assessment of trade and other receivables are set out in note 24.
|