XML 205 R9.htm IDEA: XBRL DOCUMENT
v3.24.3

Operating Segment Information | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Operating Segment Information [Abstract] |  |
OPERATING SEGMENT INFORMATION |
| 4. | OPERATING SEGMENT INFORMATION
The Group has six reportable segments, six primary geographic areas, namely Hong Kong, Singapore, Philippines, Taiwan, Malaysia and Other Asia (comprising Thailand and Indonesia which the operations were inactive as at June 30, 2024). Each of these geographic segments operates an online financial comparison platform with their respective local market brand. Each geographical segment has different regulatory, political and economic environments for which its financial performance is influenced by market factors and strategic initiatives. Furthermore, each geographic segment represents a business in different stages of development with Hong Kong and Singapore being the most mature. No operating segments have been aggregated to form the above reportable operating segments. Management monitors the results of the Group’s operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on reportable segment results which is a measure of operating loss before tax.
|  | Hong Kong |  |  | Singapore |  |  | Philippines |  |  | Taiwan |  |  | Malaysia |  |  | Othe Asia |  |  | Unallocated |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Six months ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers |  | 14,981,761 |  |  | 17,962,713 |  |  | 6,917,244 |  |  | 2,826,070 |  |  | 160,720 |  |  | - |  |  | - |  |  | 42,848,508 |
Segment loss |  |  | (2,327,198 | ) |  |  | (4,906,691 | ) |  |  | (1,412,318 | ) |  |  | (911,530 | ) |  |  | (671,317 | ) |  |  | (56,564 | ) |  |  | (6,102,440 | ) |  |  | (16,388,058 | )
Reconciliation: |  |  |
Interest income |  |  | 951,067 |
Finance costs |  |  | (13,363 | )
Depreciation and amortization |  |  | (2,047,489 | )
Impairment of assets |  |  | (91,599 | )
Equity-settled share option expense |  |  | (1,637,724 | )
Changes in fair value of financial instruments |  |  | (236,547 | )
Unrealised foreign exchange differences, net |  |  | (5,801,573 | )
Loss before tax |  |  | (25,265,286 | )
|  | Hong Kong |  |  | Singapore |  |  | Philippines |  |  | Taiwan |  |  | Malaysia |  |  | Other Asia |  |  | Unallocated |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Six months ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers |  | 11,735,648 |  |  | 10,939,325 |  |  | 7,627,462 |  |  | 3,805,468 |  |  | 444,831 |  |  | - |  |  | - |  |  | 34,552,734 |
Segment loss |  |  | 827,690 |  |  |  | 414,148 |  |  |  | 151,352 |  |  |  | (334,569 | ) |  |  | (411,610 | ) |  |  | (64,351 | ) |  |  | (1,476,535 | ) |  |  | (893,875 | )
Reconciliation: |  |  |
Interest income |  |  | 126,021 |
Finance costs |  |  | (3,568,652 | )
Depreciation and amortization |  |  | (2,399,759 | )
Equity-settled share option expense |  |  | (795,125 | )
Other long-term employee benefits expense |  |  | 84,221 |
Transaction expenses |  |  | (3,612,679 | )
Changes in fair value of financial instruments |  |  | (57,937,053 | )
Unrealised foreign exchange differences, net |  |  | (2,069,745 | )
Loss before tax |  |  | (71,066,646 | )
| 4. | OPERATING SEGMENT INFORMATION
The Group has six reportable segments based on geographic areas, namely Hong Kong, Singapore, Philippines, Taiwan, Malaysia and Other Asia. Each of these geographic segments operates an online financial comparison platform with their respective local market brand. Each geographical segment has different regulatory, political and economic environments for which its financial performance is influenced by market factors and strategic initiatives. Furthermore, each geographic segment represents a business in different stages of development with Hong Kong and Singapore being the most mature. No operating segments have been aggregated to form the above reportable operating segments. Management monitors the results of the Group’s operating segments separately for the purpose of assessing performance and making decisions about resource allocations. Segment performance is evaluated based on reportable segment results which is a measure of operating loss before tax.
|  | Hong Kong |  |  | Singapore |  |  | Philippines |  |  | Taiwan |  |  | Malaysia |  |  | Other Asia |  |  | Unallocated |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers |  |  | 26,947,177 |  |  |  | 32,069,713 |  |  |  | 14,169,389 |  |  |  | 6,742,747 |  |  |  | 738,053 |  |  |  | 4,002 |  |  |  | - |  |  |  | 80,671,081 |
Segment profit/(loss) |  |  | 680,500 |  |  |  | (1,579,640 | ) |  |  | 768,659 |  |  |  | (826,446 | ) |  |  | (485,596 | ) |  |  | (105,546 | ) |  |  | (5,216,442 | ) |  |  | (6,764,511 | )
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 872,503 |
Finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (19,028,007 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,164,677 | )
Impairment of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,105,507 | )
Equity-settled share option expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,629,044 | )
Other long-term employee benefits expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (109,702 | )
Changes in fair value of financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (57,333,432 | )
Share-based payment on listing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (67,027,178 | )
Transaction expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,643,367 | )
Other equity-settled transactions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (500,000 | )
Unrealized foreign exchange differences, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 895,392 |
Loss before tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (172,537,530 | )
|  | Hong Kong |  |  | Singapore |  |  | Philippines |  |  | Taiwan |  |  | Malaysia |  |  | Other Asia |  |  | Unallocated |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers |  |  | 22,247,140 |  |  |  | 23,467,954 |  |  |  | 9,857,822 |  |  |  | 11,027,139 |  |  |  | 1,282,194 |  |  |  | 250,007 |  |  |  | - |  |  |  | 68,132,256 |
Segment loss |  |  | (283,904 | ) |  |  | (2,035,946 | ) |  |  | (1,327,478 | ) |  |  | (1,160,908 | ) |  |  | (1,877,997 | ) |  |  | (1,353,876 | ) |  |  | (8,541,112 | ) |  |  | (16,581,221 | )
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,043 |
Finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,800,597 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,788,750 | )
Impairment of goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,382,926 | )
Impairment of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,450,781 | )
Equity-settled share option expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,430,835 | )
Other long-term employee benefits credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,951,482 |
Changes in fair value of financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,101,484 | )
Gain on derecognition of convertible loans and bridge loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 135,031 |
Other equity-settled transactions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (882,115 | )
Unrealized foreign exchange differences, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,389,441 | )
Loss before tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (49,693,594 | )
|  | Hong Kong |  |  | Singapore |  |  | Philippines |  |  | Taiwan |  |  | Malaysia |  |  | Other Asia |  |  | Unallocated |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to external customers |  |  | 18,189,703 |  |  |  | 22,838,695 |  |  |  | 6,051,517 |  |  |  | 13,401,188 |  |  |  | 1,270,665 |  |  |  | 130,713 |  |  |  | - |  |  |  | 61,882,481 |
Segment loss |  |  | (202,027 | ) |  |  | (1,359,574 | ) |  |  | (1,050,578 | ) |  |  | (264,321 | ) |  |  | (1,764,853 | ) |  |  | (1,595,476 | ) |  |  | (7,106,805 | ) |  |  | (13,343,634 | )
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,734 |
Finance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,702,457 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,900,348 | )
Equity-settled share option expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (9,352,862 | )
Other long-term employee benefits credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 240,028 |
Changes in fair value of financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (178,859 | )
Unrealized foreign exchange differences, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,746,780 | )
Loss before tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (30,970,178 | )

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration