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SEGMENTS | 12 Months Ended
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Dec. 31, 2023
Seamless Group Inc [Member] |
SEGMENTS | 18 Segments SEGMENTS SCHEDULE OF SEGMENT REPORTING FOR REVENUE
|  | Years ended December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Revenue |  |  |  |  |  |
Remittance services |  |  | 26,695,196 |  |  |  | 26,714,151 |
Sales of Airtime |  |  | 26,398,707 |  |  |  | 28,501,152 |
Other services |  |  | 161,458 |  |  |  | 285,614 |
Revenue |  |  | 53,255,361 |  |  |  | 55,500,917 |
|  | Years ended December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Cost of sales |  |  |  |  |  |
Remittance services |  |  | (11,375,525 | ) |  |  | (13,268,205 | )
Sales of Airtime |  |  | (24,206,112 | ) |  |  | (26,370,613 | )
Other services |  |  | (317,419 | ) |  |  | (242,129 | )
Cost of sales |  |  | (35,899,057 | ) |  |  | (39,880,947 | )
|  | Years ended December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Gross Profit |  |  |  |  |  |  |  |
Remittance services |  |  | 15,319,671 |  |  |  | 13,445,946 |
Sales of Airtime |  |  | 2,192,595 |  |  |  | 2,130,539 |
Other services |  |  | (155,962 | ) |  |  | 43,485 |
Gross Profit |  |  | 17,356,304 |  |  |  | 15,619,970 |
SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
18 | Segments (Continued)
The following table sets forth the Expenditures for additions to long-lived assets other than goodwill and acquired intangible assets: SCHEDULE FOR ADDITIONS TO LONG-LIVED ASSETS OTHER THAN GOODWILL AND ACQUIRED INTANGIBLE ASSETS
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Remittance services expense |  |  | 302,950 |  |  |  | 532,457 |
Sales of Airtime |  |  | - |  |  |  | - |
Other services |  |  | - |  |  |  | - |
Expenditure for additions to long-lived assets other than goodwill and acquired intangible assets |  |  | 302,950 |  |  |  | 532,457 |
The following table sets forth the revenues by geographical area: SCHEDULE OF GEOGRAPHICAL INFORMATION
|  | Years ended December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Revenue |  |  |  |  |  |
Hong Kong |  |  | 9,726,364 |  |  |  | 8,647,764 |
Malaysia |  |  | 29,317,906 |  |  |  | 36,742,314 |
Indonesia |  |  | 14,211,091 |  |  |  | 10,110,839 |
Revenue |  |  | 53,255,361 |  |  |  | 55,500,917 |
The following table sets forth the long-lived assets other than goodwill and intangible assets by geographical area: SCHEDULE OF LONG LIVED ASSETS GEOGRAPHICAL INFORMATION
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Long-lived assets other than goodwill and acquired intangible assets |  |  |  |  |  |  |  |
Hong Kong |  |  | 4,368,106 |  |  |  | 3,647,913 |
Malaysia |  |  | 1,005,601 |  |  |  | 1,276,989 |
Indonesia |  |  | 62,056 |  |  |  | 121,698 |
Long-Lived Assets |  |  | 5,435,763 |  |  |  | 5,046,600 |
Add: Non-disclose items |  |  |  |  |  |  |  |
Investment in an equity security |  |  | 100,000 |  |  |  | 100,000 |
Deferred tax assets |  |  | 972,984 |  |  |  | 768,617 |
Goodwill |  |  | 27,001,383 |  |  |  | 27,001,383 |
Acquired intangible assets |  |  | 4,926,674 |  |  |  | 6,467,231 |
Long-lived assets other than goodwill and acquired intangible assets |  |  | 33,001,041 |  |  |  | 39,383,831 |
SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
18 | Segments (Continued)
The following table sets forth the goodwill by reportable segments: SCHEDULE OF GOODWILL REPORTABLE SEGMENTS
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Remittance services |  |  | 12,921,592 |  |  |  | 12,921,592 |
Sales of Airtime |  |  | 14,079,791 |  |  |  | 14,079,791 |
Goodwill |  |  | 27,001,383 |  |  |  | 27,001,383 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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