v3.25.4

Deposits, Prepayments and Other Receivables, Net | 12 Months Ended
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Dec. 31, 2024
Deposits, Prepayments and Other Receivables, Net [Abstract] |
DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES, NET | NOTE 9 — DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES, NET Deposits, prepayments and other receivables, net consisted of the following:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Deposits |  | $ | 1,528 |  |  | $ | 711 |
Prepayments |  |  | 354 |  |  |  | 1,027 |
Other receivables |  |  | 2,275 |  |  |  | 850 |
|  |  | 4,157 |  |  |  | 2,588 |
Less: allowance for expected credit losses |  |  | (2,297 | ) |  |  | (818 | )
Deposit, prepayments and other receivable, net |  | $ | 1,860 |  |  | $ | 1,770 |
The following table presents the activity in the allowance for expected credit losses:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Balance at beginning of year |  | $ | 818 |  |  | $ | 42 |
Additions from acquisition of subsidiaries |  |  | 6 |  |  |  | — |
Additions |  |  | 1,444 |  |  |  | 774 |
Foreign translation adjustment |  |  | 29 |  |  |  | 2 |
Balance at end of year |  | $ | 2,297 |  |  | $ | 818 |
For the years ended December 31, 2024 and 2023, the Company has assessed the probable loss and made a provision for allowance for expected credit losses of approximately $1.4 million and $0.8 million on deposits and other receivables, respectively.

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