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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
LEASES |
13. | LEASES
The Group as a lessee The Group has lease contracts for offices premises and office equipment used in its operations. Leases of offices premises generally have lease periods of two to three years, while the office equipment generally have a lease term of five years. Generally, the Group is restricted from assigning and subleasing the leased assets outside the Group.
| (a) | 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, 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 and January 1, 2024 |  |  | 583,078 |  |  |  | 6,643 |  |  |  | 589,721 |
Remeasurement on lease modifications |  |  | 884,288 |  |  |  | - |  |  |  | 884,288 |
Depreciation charge |  |  | (710,579 | ) |  |  | (1,424 | ) |  |  | (712,003 | )
Exchange realignment |  |  | (18,231 | ) |  |  | 32 |  |  |  | (18,199 | )
At December 31, 2024 |  |  | 738,556 |  |  |  | 5,251 |  |  |  | 743,807 |
| (b) | Lease liabilities
The carrying amount of lease liabilities and the movements during the year are as follows:
|  | 2024 |  |  | 2023 |
|  | US$ |  |  | US$ |
Carrying amount at January 1 |  |  | 606,061 |  |  |  | 785,687 |
New leases |  |  | - |  |  |  | 416,451 |
Remeasurement on lease modifications |  |  | 866,795 |  |  |  | 133,171 |
Accretion of interest recognized during the year |  |  | 23,700 |  |  |  | 48,363 |
Payments |  |  | (745,592 | ) |  |  | (779,271 | )
Exchange realignment |  |  | (15,414 | ) |  |  | 1,660 |
Carrying amount at December 31 |  |  | 735,550 |  |  |  | 606,061 |
Analyzed into: |  |  |  |  |  |  |  |
Current portion |  |  | 441,878 |  |  |  | 574,630 |
Non-current portion |  |  | 293,672 |  |  |  | 31,431 |
The maturity analysis of lease liabilities is disclosed in note 31 to the financial statements.
| (c) | The amounts recognized in profit or loss in relation to leases are as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |  |  | US$ |
Interest on lease liabilities |  |  | 23,700 |  |  |  | 48,363 |  |  |  | 42,130 |
Depreciation charge of right-of-use assets |  |  | 712,003 |  |  |  | 743,956 |  |  |  | 871,157 |
Expense relating to short-term leases |  |  | 11,126 |  |  |  | 42,931 |  |  |  | 157,264 |
Loss on lease modifications |  |  | - |  |  |  | - |  |  |  | 65,406 |
Total amount recognized in profit or loss |  |  | 746,829 |  |  |  | 835,250 |  |  |  | 1,135,957 |
| (d) | The Group’s total cash outflows for leases are disclosed in Note 28(b) to the financial statements. The Group also had non-cash additions/lease modifications to right-of-use assets and lease liabilities of US$884,288 (2023: US$553,823; 2022: US$1,192,165) and US$866,795 (2023: US$549,622; 2022: US$1,172,679), respectively.

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2024-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2024-03-27 + Details
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