FINANCIAL INSTRUMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| FINANCIAL INSTRUMENTS (Tables) [Line Items] |
|
| Schedule of Trade Receivables |
The
aging of trade receivables were as follows:
| | |
Total | | |
Current
(≤ 30 days) | | |
31-60 days | | |
61-90 days | | |
≥91 days | |
| Trade receivables | |
| 8,278,112 | | |
| 6,704,924 | | |
| 466,913 | | |
| 359,039 | | |
| 747,236 | |
| Loss allowance for expected credit loss | |
| (62,425 | ) | |
| (445 | ) | |
| (240 | ) | |
| (433 | ) | |
| (61,307 | ) |
| As at December 31, 2024 | |
| 8,215,687 | | |
| 6,704,479 | | |
| 466,673 | | |
| 358,606 | | |
| 685,929 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Trade receivables | |
| 12,207,008 | | |
| 10,014,210 | | |
| 918,055 | | |
| 380,704 | | |
| 894,039 | |
| Loss allowance for expected credit loss | |
| (68,666 | ) | |
| (471 | ) | |
| (255 | ) | |
| (459 | ) | |
| (67,481 | ) |
| As at December 31, 2025 | |
| 12,138,342 | | |
| 10,013,739 | | |
| 917,800 | | |
| 380,245 | | |
| 826,558 | |
|
| Schedule of Contractual Maturities of Financial Liabilities |
The
following are the contractual maturities of financial liabilities considered in the context of the Group’s liquidity risk management
strategy. The amounts are gross and undiscounted and include contractual interest payments.
| For the years
ending December 31, | |
2026 | | |
2027 | | |
2028 | | |
2029 | | |
Thereafter | | |
Total | | |
Imputed
interests | | |
Carrying
amount
as of December 31,
2025 | |
| | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | |
| Financial liabilities | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Guaranteed
Bank and financial institution loans | |
| 1,061,921 | | |
| 363,925 | | |
| 105,658 | | |
| 95,239 | | |
| 154,513 | | |
| 1,781,346 | | |
| 201,966 | | |
| 1,579,380 | |
| Trade
and other payables | |
| 10,837,525 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 10,837,525 | | |
| - | | |
| 10,837,525 | |
| Lease
obligation | |
| 538,597 | | |
| 469,182 | | |
| 460,972 | | |
| 172,202 | | |
| 126,374 | | |
| 1,767,327 | | |
| 237,926 | | |
| 1,529,401 | |
| Total
contractual obligations | |
| 12,438,043 | | |
| 833,107 | | |
| 566,630 | | |
| 267,441 | | |
| 280,887 | | |
| 14,386,198 | | |
| 439,892 | | |
| 13,946,306 | |
|
| Schedule of Level 3 Fair Values for the Convertible Loan |
The
following table show the valuation techniques used in measuring Level 3 fair values for the warrant liabilities in the statement of financial
position, as well as the significant unobservable inputs used.
| | | Valuation technique | | Significant
unobservable inputs | | Inter-relationship
between significant
unobservable inputs | | Liability | | | | | | | | | Black-Scholes Model / Monte Carlo Simulation: The valuation model considers factors such as stock price, volatility, risk-free rate, and time to expiration to determine the fair value of the warrants. | | - Expected stock price volatility, assessed at 58.86%, 116.79% and 125.93% based on peer Companies, historical trends and market conditions as of issuance date, December 31, 2024 and December 31, 2025, respectively. - Risk-free interest rate of 4.787% , 4.220% and 3.550%, based on government bond yields as of issuance date and December 31, 2024, respectively. - Expected life of the warrants, estimated at 3 years, 2.31 years and 1.31 years as of issuance date, December 31, 2024 and December 31, 2025, respectively. | | Changes in stock price volatility, risk-free rate, or expected life will impact the fair value of warrant liabilities, leading to fluctuations in financial statements. | | | | | | | | | | | Black-Scholes Model / Monte Carlo Simulation: The valuation model considers factors such as stock price, volatility, risk-free rate, and time to expiration to determine the fair value of the warrants. | | - Expected stock price volatility, assessed at 92.90% and 92.30% based on peer Companies, historical trends and market conditions as of issuance date and December 31, 2025 respectively. - Risk-free interest rate of 3.500% and 3.568%, based on government bond yields as of issuance date and December 31, 2024, respectively. - Expected life of the warrants, estimated at 3.5 years and 3.2 years as of issuance date and December 31, 2024, respectively. | | Changes in stock price volatility, risk-free rate, or expected life will impact the fair value of warrant liabilities, leading to fluctuations in financial statements. |
| | |
| |
| |
December
31, 2025 | |
| | |
| |
| |
Recognized
in profit or loss | |
| | |
Input | |
Change | |
Favorable
change | | |
Unfavorable
change | |
| 2024
Warrant liabilities | |
Expected
volatility | |
±10% | |
$ | 183 | | |
$ | 277 | |
| 2025
Warrant liabilities | |
Expected
volatility | |
±10% | |
$ | 182,000 | | |
$ | 174,000 | |
| | |
| |
| |
| 182,183 | | |
| 174,277 | |
|
| Financial Instruments [Member] |
|
| FINANCIAL INSTRUMENTS (Tables) [Line Items] |
|
| Schedule of Credit Risk for Trade Receivables |
The
exposure to credit risk for trade receivables at the reporting date by geographic region was as follows:
| | |
Net
carrying amount as at
December 31, | |
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| Singapore | |
| 8,977,396 | | |
| 6,015,877 | |
| Malaysia | |
| 2,390,974 | | |
| 2,082,111 | |
| Others | |
| 769,972 | | |
| 117,699 | |
| Total | |
| 12,138,342 | | |
| 8,215,687 | |
|