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LOANS RECEIVABLE, NET (Tables) | 12 Months Ended
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Dec. 31, 2023
LOANS RECEIVABLE, NET [Abstract] |
Loan Portfolios | The following table presents the loans receivable by each of the loan portfolio:
| As of December 31, |
|  | 2022 $ |  |  | 2023 $ |
Consumer and SME loans |  |  | 2,268,844 |  |  |  | 2,656,484 |
Other loans |  |  | 45,405 |  |  |  | 150,297 |
|  |  | 2,314,249 |  |  |  | 2,806,781 |
Allowance for credit losses |  |  | (238,819 | ) |  |  | (321,568 | )
|  |  | 2,075,430 |  |  |  | 2,485,213 |
Summary of Delinquency Status of Loans Receivable by Year of Origination | The following table is a summary of the delinquency status of the loans receivable by year of origination:
|  | As of December 31, 2022 |
|  | Year of origination |
|  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | Prior |  |  | Total |
Consumer and SME loans |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2,050,721 |  |  |  | 641 |  |  |  | 807 |  |  |  | 2,790 |  |  |  | 1,702 |  |  |  | 786 |  |  |  | 2,057,447 |
Past due |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- 1 to 30 days |  |  | 70,761 |  |  |  | 206 |  |  |  | 143 |  |  |  | 97 |  |  |  | 66 |  |  |  | 14 |  |  |  | 71,287 |
- 31 to 60 days |  |  | 49,493 |  |  |  | 341 |  |  |  | 96 |  |  |  | 490 |  |  |  | 560 |  |  |  | 190 |  |  |  | 51,170 |
- 61 to 90 days |  |  | 44,065 |  |  |  | 581 |  |  |  | 18 |  |  |  | 16 |  |  |  | 22 |  |  |  | – |  |  |  | 44,702 |
- More than 90 days |  |  | 26,308 |  |  |  | 16,718 |  |  |  | 913 |  |  |  | 146 |  |  |  | 39 |  |  |  | 114 |  |  |  | 44,238 |
|  |  | 2,241,348 |  |  |  | 18,487 |  |  |  | 1,977 |  |  |  | 3,539 |  |  |  | 2,389 |  |  |  | 1,104 |  |  |  | 2,268,844 |
Other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 918 |  |  |  | 6,159 |  |  |  | 30,778 |  |  |  | 4,134 |  |  |  | 1,282 |  |  |  | 923 |  |  |  | 44,194 |
Past due |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- 1 to 30 days |  |  | 10 |  |  |  | 37 |  |  |  | 117 |  |  |  | 148 |  |  |  | 13 |  |  |  | – |  |  |  | 325 |
- 31 to 60 days |  |  | – |  |  |  | – |  |  |  | 38 |  |  |  | 249 |  |  |  | 32 |  |  |  | – |  |  |  | 319 |
- 61 to 90 days |  |  | – |  |  |  | 22 |  |  |  | – |  |  |  | 1 |  |  |  | 42 |  |  |  | 2 |  |  |  | 67 |
- More than 90 days |  |  | – |  |  |  | 64 |  |  |  | 105 |  |  |  | 212 |  |  |  | 79 |  |  |  | 40 |  |  |  | 500 |
|  |  | 928 |  |  |  | 6,282 |  |  |  | 31,038 |  |  |  | 4,744 |  |  |  | 1,448 |  |  |  | 965 |  |  |  | 45,405 |
|  | As of December 31, 2023 |
|  | Year of origination |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Total |
Consumer and SME loans |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2,448,363 |  |  |  | 4,934 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 2,453,297 |
Past due |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- 1 to 30 days |  |  | 64,015 |  |  |  | 1,054 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 65,069 |
- 31 to 60 days |  |  | 49,419 |  |  |  | 925 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 50,344 |
- 61 to 90 days |  |  | 42,239 |  |  |  | 2,054 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 44,293 |
- More than 90 days |  |  | 41,843 |  |  |  | 1,638 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 43,481 |
|  |  | 2,645,879 |  |  |  | 10,605 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 2,656,484 |
Current period gross write-off |  |  | 182,145 |  |  |  | 358,503 |  |  |  | 4,834 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 545,482 |
Other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 104,770 |  |  |  | 927 |  |  |  | 399 |  |  |  | 30,769 |  |  |  | 3,132 |  |  |  | 2,214 |  |  |  | 142,211 |
Past due |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- 1 to 30 days |  |  | 4,660 |  |  |  | 8 |  |  |  | 6 |  |  |  | 98 |  |  |  | 86 |  |  |  | 17 |  |  |  | 4,875 |
- 31 to 60 days |  |  | 1,776 |  |  |  | 4 |  |  |  | 30 |  |  |  | 38 |  |  |  | 260 |  |  |  | 275 |  |  |  | 2,383 |
- 61 to 90 days |  |  | 10 |  |  |  | 9 |  |  |  | – |  |  |  | 28 |  |  |  | 51 |  |  |  | 16 |  |  |  | 114 |
- More than 90 days |  |  | 69 |  |  |  | 52 |  |  |  | 17 |  |  |  | 210 |  |  |  | 242 |  |  |  | 124 |  |  |  | 714 |
|  |  | 111,285 |  |  |  | 1,000 |  |  |  | 452 |  |  |  | 31,143 |  |  |  | 3,771 |  |  |  | 2,646 |  |  |  | 150,297 |
Current period gross write-off |  |  | – |  |  |  | 16 |  |  |  | 12 |  |  |  | 205 |  |  |  | 775 |  |  |  | 220 |  |  |  | 1,228 |
Loans Receivable's Allowance for Credit Losses | An analysis of the loans receivable’s allowance for credit losses by portfolio segment is as follows:
|  | Consumer and SME loans $ |  |  | Other loans $ |  |  | Total $ |
Balance as of January 1, 2022 |  |  | 89,977 |  |  |  | 7,699 |  |  |  | 97,676 |
Provision for credit losses |  |  | 494,815 |  |  |  | (1,202 | ) |  |  | 493,613 |
Write-off of loans receivable |  |  | (331,401 | ) |  |  | (4,772 | ) |  |  | (336,173 | )
Exchange differences |  |  | (16,012 | ) |  |  | (285 | ) |  |  | (16,297 | )
Balance as of December 31, 2022 |  |  | 237,379 |  |  |  | 1,440 |  |  |  | 238,819 |
Provision for credit losses |  |  | 624,143 |  |  |  | 3,785 |  |  |  | 627,928 |
Write-off of loans receivable |  |  | (545,482 | ) |  |  | (1,228 | ) |  |  | (546,710 | )
Exchange differences |  |  | 1,518 |  |  |  | 13 |  |  |  | 1,531 |
Balance as of December 31, 2023 |  |  | 317,558 |  |  |  | 4,010 |  |  |  | 321,568 |

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