v3.25.4
Deposits, Prepayments and Other Receivables, Net
 12 Months Ended
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.