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SEGMENTS
 12 Months Ended
Dec. 31, 2022
Seamless Group Inc [Member]  
SEGMENTS

17 Segments

 

   2022   2021 
   Years ended December 31, 
   2022   2021 
   US$   US$ 
Revenue          
Remittance services   26,714,151    30,196,550 
Sales of Airtime   28,501,152    26,985,504 
Other services   285,614    319,316 
Revenue   55,500,917    57,501,370 

 

   Years ended December 31, 
   2022   2021 
   US$   US$ 
Cost of sales          
Remittance services   (13,268,205)   (14,712,592)
Sales of Airtime   (26,370,613)   (24,682,635)
Other services   (242,129)   (209,114)
Cost of sales   (39,880,947)   (39,604,341)

 

   Years ended December 31, 
   2022   2021 
   US$   US$ 
Gross Profit          
Remittance services   13,445,946    15,483,958 
Sales of Airtime   2,130,539    2,302,869 
Other services   43,485    110,202 
Gross Profit   15,619,970    17,897,029 

 

 

SEAMLESS GROUP INC. AND SUBSIDIARIES

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

17 Segments (Continued)

 

The following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets:

   2022   2021 
   December 31, 
   2022   2021 
   US$   US$ 
Remittance services expense   532,457    405,880 
Sales of Airtime   -    - 
Other services   -    - 
Expenditure for additions to long-lived assets other than goodwill and acquired intangible assets   532,457    405,880 

 

 

The following table sets forth the revenues by geographical area:

   2022   2021 
   Years ended December 31, 
   2022   2021 
   US$   US$ 
Revenue          
Hong Kong   8,647,764    8,307,589 
Malaysia   36,742,314    46,746,853 
Indonesia   10,110,839    2,446,928 
Revenue   55,500,917    57,501,370 

 

The following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area:

   2022   2021 
   December 31, 
   2022   2021 
   US$   US$ 

Long-lived assets other than goodwill and acquired intangible assets

          
Hong Kong   3,647,913    5,897,263 
Malaysia   1,276,989    930,515 
Indonesia   121,698    - 
Long-Lived Assets   5,046,600    6,827,778 
           
Add: Non-disclose items          
Investment in an equity security   100,000    100,000 
Deferred tax assets   768,617    106,151 
Goodwill   27,001,383    19,229,528 
Acquired intangible assets   6,467,231    8,007,788 
Long-lived assets other than goodwill and acquired intangible assets   39,383,831    34,271,245 

 

 

SEAMLESS GROUP INC. AND SUBSIDIARIES

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

17 Segments (Continued)

 

The following table sets forth the goodwill by reportable segments:

 

 

   2022   2021 
   December 31, 
   2022   2021 
   US$   US$ 
Remittance services   12,921,592    12,921,592 
Sales of Airtime   14,079,791    6,307,936 
Gross Profit   27,001,383    19,229,528