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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Schedule of Carrying Amount of Right-of-Use Assets | The carrying amount of the Group’s right-of-use assets and the movements during the year is as follows:
|  | Office |  |  | Office |  |  |  |
|  | premises |  |  | equipment |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |
At January 1, 2022 |  |  | 449,044 |  |  |  | 7,626 |  |  |  | 456,670 |
Additions |  |  | 1,320,921 |  |  |  | - |  |  |  | 1,320,921 |
Remeasurement on lease modifications |  |  | (128,756 | ) |  |  | - |  |  |  | (128,756 | )
Depreciation charge |  |  | (866,094 | ) |  |  | (5,063 | ) |  |  | (871,157 | )
Exchange realignment |  |  | 761 |  |  |  | (25 | ) |  |  | 736 |
At December 31, 2022 and January 1, 2023 |  |  | 775,876 |  |  |  | 2,538 |  |  |  | 778,414 |
Additions |  |  | 412,276 |  |  |  | 7,118 |  |  |  | 419,394 |
Remeasurement on lease modifications |  |  | 134,429 |  |  |  | - |  |  |  | 134,429 |
Depreciation charge |  |  | (740,950 | ) |  |  | (3,006 | ) |  |  | (743,956 | )
Exchange realignment |  |  | 1,447 |  |  |  | (7 | ) |  |  | 1,440 |
At December 31, 2023 |  |  | 583,078 |  |  |  | 6,643 |  |  |  | 589,721 |
Schedule of Carrying Amount | The carrying amount of lease liabilities and the movements during the year are as follows:
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Carrying amount at January 1 |  |  | 785,687 |  |  |  | 486,678 |
New leases |  |  | 416,451 |  |  |  | 1,237,069 |
Remeasurement on lease modifications |  |  | 133,171 |  |  |  | (64,390 | )
Accretion of interest recognized during the year |  |  | 48,363 |  |  |  | 42,130 |
Payments |  |  | (779,271 | ) |  |  | (915,438 | )
Exchange realignment |  |  | 1,660 |  |  |  | (362 | )
Carrying amount at December 31 |  |  | 606,061 |  |  |  | 785,687 |
Analyzed into: |  |  |  |  |  |  |  |
Current portion |  |  | 574,630 |  |  |  | 492,735 |
Non-current portion |  |  | 31,431 |  |  |  | 292,952 |
Schedule of Profit or Loss | The amounts recognized in profit or loss in relation to leases are as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |  |  | US$ |
Interest on lease liabilities |  |  | 48,363 |  |  |  | 42,130 |  |  |  | 48,171 |
Depreciation charge of right-of-use assets |  |  | 743,956 |  |  |  | 871,157 |  |  |  | 784,029 |
Expense relating to short-term leases |  |  | 42,931 |  |  |  | 157,264 |  |  |  | 330,400 |
Loss on lease modifications |  |  | - |  |  |  | 65,406 |  |  |  | - |
Total amount recognized in profit or loss |  |  | 835,250 |  |  |  | 1,135,957 |  |  |  | 1,162,600 |

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- Definition The disclosure of a maturity analysis of finance lease payments receivable. Finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Paragraph 94 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&anchor=para_94&doctype=Standard -URIDate 2024-03-27 + Details
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- Definition The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Paragraph 53 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&anchor=para_53&doctype=Standard -URIDate 2024-03-27 + Details
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