| BANK BORROWINGS AND OTHER BORROWINGS |
| 13 |
BANK
BORROWINGS AND OTHER BORROWINGS |
SCHEDULE OF BANK AND OTHER BORROWINGS
| | |
| |
2025 | | |
2024 | |
| | |
| |
USD | | |
USD | |
| | |
| |
| | |
| |
| (a) | |
Bank borrowings (Note (i)) | |
| | | |
| | |
| | |
Bank overdrafts - variable rate | |
$ | 1,371,598 | | |
$ | 1,505,771 | |
| | |
Bank borrowings - fixed rate | |
| 2,121,080 | | |
| 6,713,288 | |
| | |
Bank borrowings - variable rate | |
| 2,130,248 | | |
| 2,133,931 | |
| | |
| |
| 5,622,926 | | |
| 10,352,990 | |
| | |
| |
| | | |
| | |
| | |
Secured bank borrowings (Note (ii)) | |
| 5,622,926 | | |
| 10,085,523 | |
| | |
Unsecured bank borrowings | |
| - | | |
| 267,467 | |
| | |
Total | |
| 5,622,926 | | |
| 10,352,990 | |
| | |
| |
| | | |
| | |
| | |
The carrying amounts of the above borrowings are repayable: | |
| | | |
| | |
| | |
Within one year | |
| 5,622,926 | | |
| 10,313,887 | |
| | |
Within a period of more than one year but not exceeding two years | |
| - | | |
| 39,103 | |
| | |
Total | |
| 5,622,926 | | |
| 10,352,990 | |
| | |
| |
| | | |
| | |
| | |
Less: Amounts due within one year shown under current liabilities: | |
| (5,622,926 | ) | |
| (10,313,887 | ) |
| | |
Amounts shown under non-current liabilities: | |
| - | | |
| 39,103 | |
| | |
| |
| | | |
| | |
| (b) | |
Other borrowings (Note (iii)) | |
| | | |
| | |
| | |
Unsecured other borrowings - related parties - fixed rate (Note 23) | |
| - | | |
| 425,255 | |
| | |
Unsecured other borrowings - fixed rate | |
| 356,431 | | |
| 704,886 | |
| | |
Total | |
| 356,431 | | |
| 1,130,141 | |
Note:
| |
(i) |
Bank
borrowings carry a weighted average effective interest rate at 4% (2024: 5%). |
| |
(ii) |
Secured
bank borrowings were pledged by the personal guarantee and the private real estate properties owned by our former shareholders. |
| |
(iii) |
Included
in other borrowings, an aggregate loan balance from related parties of nil (2024: USD425,255) was unsecured, interest-free or interest
bearing at nil (2024: 8% p.a.). A principal amount of USD356,431 (2024: USD704,886) was unsecured, interest bearing at 3.6% p.a.
(2024: interest free or interest bearing at 6% to 7.2% p.a). All these balances were repayable within one year after the end of the
reporting period. |
|