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PREPAYMENTS, RECEIVABLES AND OTHER ASSETS
 12 Months Ended
Dec. 31, 2022
Seamless Group Inc [Member]  
PREPAYMENTS, RECEIVABLES AND OTHER ASSETS

4        Prepayments, receivables and other assets

PREPAYMENTS, RECEIVABLES AND OTHER ASSETS

 

   2022   2021 
   December 31, 
   2022   2021 
   US$   US$ 
         
Contract asset   4,657,799    4,181,989 
Other receivables   54,425    38,383 
Prefunding to remittances partner   21,896,243    12,363,982 
Deposits   1,438,316    3,086,382 
Goods and services tax/ Value-added tax recoverable   13,842    18,049 
Prepayments   503,123    332,866 
Airtime stock   715,755    1,252,740 
Inventory   162,227    — 
Current tax recoverable   1,094,332    596,059 
Others   1,240,134    902,829 
Total   31,776,196    22,773,279 

 

Movement of contract assets are as follows:

 

   December 31, 
   2022   2021 
   US$   US$ 
         
As at January 1   4,189,989    — 
Rights of consideration for service rendered but not billed   467,810    — 
As at December 31   4,657,799    4,189,989 

 

 

SEAMLESS GROUP INC. AND SUBSIDIARIES

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS