XML 113 R46.htm IDEA: XBRL DOCUMENT
v3.23.2

BORROWINGS (Tables) - Seamless Group Inc [Member] | 12 Months Ended
--- | ---
Dec. 31, 2022
SCHEDULE OF BORROWINGS | SCHEDULE OF BORROWINGS
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Short-term borrowings (i) |  |  | 8,978,390 |  |  |  | 3,799,427 |
Long-term borrowings (ii) |  |  | 12,305,279 |  |  |  | 2,449,318 |
Less: current maturities |  |  | (4,426,000 | ) |  |  | (344,975 | )
Non-current maturities |  |  | 7,879,279 |  |  |  | 2,104,343 |
| (i) | As of December 31, 2022 and 2021, the Company had several unsecured short-term loans from independent third parties which were repayable within one year and charged interest rates ranging from 15.0% to 24.0% and 15.0% to 17.0% per annum, respectively. As of December 31, 2022 and 2021, the weighted average interest rate of these borrowings was 22.4% and 15.9% per annum, respectively. The borrowings are denominated in HK$ and US$.
| (ii) | As of December 31, 2022 and 2021, the Company obtained several unsecured long-term loans for two to five years. Interest rates ranged from 2.5% to 24.0% per annum. As of December 31, 2022 and 2021, the weighted average interest rate of these borrowings was 15.5% and 18.0% per annum, respectively. The borrowings are denominated in HK$ and US$.
As of December 31, 2022, the Company obtained loans from three members of management of the Company. A loan of HK$4.7 million (equivalent to US$0.6 million) has been provided by Mr. Takis Wong, the Chief Operating Officer, at an interest rate of 12% per annum. The loan is unsecured and repayable in full on March 20, 2023. Another loan of HK$2.5 million (equivalent to US$0.3 million) has been provided by Mr. Alexander Kong, the Chairman, at an interest rate of 12% per annum. The loan is unsecured and repayable in full on March 28, 2023. Another loan of HK$4.7 million (equivalent to US$0.6 million) has been provided by Dr. Ronnie Hui, the Chief Executive Officer, at an interest rate of 12% per annum. The loan is unsecured and repayable in full on April 11, 2023.
| (iii) | As of December 31, 2022, the Company had a loan of US$2.05 million from Noble Tack International Limited, one of the shareholders of its subsidiary, Dynamic Indonesia Holdings Limited. The loan is unsecured, interest-free and repayable on demand.
SCHEDULE OF LONG TERM BORROWINGS | As of December 31, 2022, the long-term borrowings will be due according to the following schedule: SCHEDULE OF LONG TERM BORROWINGS
|  | Principal amounts |
|  | US$ |
For the year ending December 31, |  |  |  |
2023 |  |  | 4,426,000 |
2024 |  |  | 5,368,971 |
2025 |  |  | 466,735 |
2026 |  |  | 2,043,573 |
Total |  |  | 12,305,279 |

X
- Definition Schedule of borrowings [Table Text Block] + References No definition available. + Details
Name: | IFIN_ScheduleOfBorrowingsTableTextBlock
Namespace Prefix: | IFIN_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=IFIN_SeamlessGroupIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |