INCOME TAX EXPENSES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of Income Tax Expense Benefit |
| | |
2025 | | |
2024 | | |
2023 | |
| | |
USD | | |
USD | | |
USD | |
| Current tax expense | |
| | |
| | |
| |
| Current year | |
| 221,627 | | |
| 268,715 | | |
| 115,833 | |
| Changes in estimates related to prior years | |
| (76,060 | ) | |
| 3,613 | | |
| 30,607 | |
| Deferred tax (credit)/expense | |
| | | |
| | | |
| | |
| Origination and reversal of temporary difference | |
| (184,331 | ) | |
| (8,089 | ) | |
| 77,862 | |
| Changes in estimates related
to prior years | |
| - | | |
| 11,675 | | |
| - | |
| Income
tax expenses | |
| (38,764 | ) | |
| 275,914 | | |
| 224,302 | |
|
| Schedule of Profit Before Income Tax Differs from the Theoretical Amount |
The
tax on the Group’s (loss)/profit before income tax differs from the theoretical amount that would arise using the Singapore’s
standard rate of income tax as follows:
| | |
2025 | | |
2024 | | |
2023 | |
| | |
USD | | |
USD | | |
USD | |
| Reconciliation between tax expenses and accounting
profit at applicable tax rate | |
| | |
| | |
| |
| (Loss)/Profit
before tax | |
| (21,622,562 | ) | |
| (4,568,584 | ) | |
| 1,088,339 | |
| Tax at the Singapore statutory rate | |
| (3,675,836 | ) | |
| (776,659 | ) | |
| 185,018 | |
| Share-based compensation | |
| 1,130,530 | | |
| 877,029 | | |
| - | |
| Difference from the effect of tax rates in
a foreign jurisdiction | |
| 1,075,835 | | |
| 128,371 | | |
| 10,583 | |
| Impairment loss on goodwill | |
| 943,743 | | |
| - | | |
| - | |
| Tax losses-unrecognized deferred tax assets | |
| 598,983 | | |
| 48,008 | | |
| - | |
| Non-deductible expenses | |
| 58,034 | | |
| 9,925 | | |
| 11,084 | |
| Other non-taxable Income | |
| (93,993 | ) | |
| (26,048 | ) | |
| (12,990 | ) |
| Changes in estimates related
to prior years | |
| (76,060 | ) | |
| 15,288 | | |
| 30,607 | |
| Income
tax expenses | |
| (38,764 | ) | |
| 275,914 | | |
| 224,302 | |
|
| Schedule of Deferred Tax Assets and Liabilities |
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| Deferred tax assets | |
| | |
| |
| Lease liability | |
| 191,186 | | |
| 206,140 | |
| Allowance for credit losses | |
| 154,391 | | |
| 14,329 | |
| Deferred tax liabilities | |
| | | |
| | |
| Right-of-use assets | |
| 171,671 | | |
| 207,311 | |
| Depreciation | |
| 36,876 | | |
| 15,860 | |
| Asset appreciation during
acquisition | |
| 656,927 | | |
| - | |
| | |
| | | |
| | |
| Net
deferred tax liabilities | |
| (519,897 | ) | |
| (2,702 | ) |
|
| Schedule of Movement in Deferred Tax Balances |
| | |
Accelerated
tax depreciation | | |
Right-of-use
assets | | |
Asset
appreciation from business combinations | | |
Total | |
| | |
USD | | |
USD | | |
USD | | |
USD | |
| Balance at January 1, 2024 | |
| (11,997 | ) | |
| (13,334 | ) | |
| - | | |
| (25,331 | ) |
| Recognized in profit or loss | |
| (4,301 | ) | |
| (197,631 | ) | |
| - | | |
| (201,932 | ) |
| Effect of movement in
exchange rates | |
| 438 | | |
| 3,654 | | |
| - | | |
| 4,092 | |
| Balance at December 31, 2024 and January 1,
2025 | |
| (15,860 | ) | |
| (207,311 | ) | |
| - | | |
| (223,171 | ) |
| Addition from business combinations | |
| - | | |
| - | | |
| (702,954 | ) | |
| (702,954 | ) |
| Recognized in profit or loss | |
| (19,748 | ) | |
| 47,152 | | |
| 47,091 | | |
| 74,495 | |
| Effect of movement in
exchange rates | |
| (1,268 | ) | |
| (11,512 | ) | |
| (1,064 | ) | |
| (13,844 | ) |
| Balance at December
31, 2025 | |
| (36,876 | ) | |
| (171,671 | ) | |
| (656,927 | ) | |
| (865,474 | ) |
| | |
Tax
losses carried forward | | |
Lease
liability | | |
Allowance
for credit losses | | |
Total | |
| | |
USD | | |
USD | | |
USD | | |
USD | |
| Balance at January 1, 2024 | |
| 11,734 | | |
| 14,335 | | |
| - | | |
| 26,069 | |
| Recognized in profit or loss | |
| (11,675 | ) | |
| 195,453 | | |
| 14,568 | | |
| 198,346 | |
| Effect of movement in
exchange rates | |
| (59 | ) | |
| (3,648 | ) | |
| (239 | ) | |
| (3,946 | ) |
| Balance at December 31, 2024 and January 1,
2025 | |
| - | | |
| 206,140 | | |
| 14,329 | | |
| 220,469 | |
| Recognized in profit or loss | |
| - | | |
| (26,738 | ) | |
| 136,574 | | |
| 109,836 | |
| Effect of movement in
exchange rates | |
| - | | |
| 11,784 | | |
| 3,488 | | |
| 15,272 | |
| Balance at December
31, 2025 | |
| - | | |
| 191,186 | | |
| 154,391 | | |
| 345,577 | |
|