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Provisions (Tables)
12 Months Ended
Dec. 31, 2024
Provisions [Abstract]  
Schedule of Provisions
  2024   2023 
  US$   US$ 
Provision for reinstatement costs   71,274    71,872 
Provision for defined benefit obligations   185,274    194,260 
As at December 31   256,548    266,132 
Provision for reinstatement costs          
As at January 1   71,872    100,483 
Additional provision   3,855    
-
 
Reversal of unutilized amounts   (5,781)   
-
 
Settled during the year   
-
    (31,782)
Increase in discounted amounts arising from the passage of time   1,772    4,009 
Exchange realignment   (444)   (838)
As at December 31   71,274    71,872 
Portion classified as current liabilities   (71,274)   (71,872)
Non-current portion   
-
    
-
 
Schedule of Principal Actuarial Assumptions

The principal actuarial assumptions used as at the end of the reporting period are as follows:

 

   2024   2023 
Discount rate (%)   6.07 - 6.08    6.15 - 6.19 
Expected rate of salary increases (%)   6.00    6.00 
Schedule of Principal Actuarial Assumptions

A quantitative sensitivity analysis for significant assumptions as at the end of the reporting period is shown below:

 

   Increase/      Increase/ 
     (decrease)      (decrease) 
     in defined      in defined 
  Increase   benefit   Decrease   benefit 
  in rate   obligations   in rate   obligations 
  %   US$   %   US$ 
2024               
Discount rate   1    (33,908)   1    43,318 
Future annual salary increases   1    42,894    1    (34,214)
2023                   
Discount rate   1    (34,297)   1    43,440 
Future annual salary increases   1    43,349    1    (34,637)
Schedule of Total Expenses Recognized in the Consolidated Statements of Loss and Other Comprehensive Income/(loss)

The total expenses recognized in the consolidated statements of loss and other comprehensive income/(loss) in respect of the plan are as follows:

 

   2024   2023   2022 
  US$   US$   US$ 
Current service cost   67,548    49,109    69,689 
Interest cost   11,583    7,563    5,687 
Net benefit expenses recognized in general, administrative and other operating expenses   79,131    56,672    75,376 
Schedule of Defined Benefit Obligations Classified as Non-Current Liabilities

The movements in the defined benefit obligations classified as non-current liabilities are as follows:  

 

    2024     2023  
    US$     US$  
At January 1   194,260     101,913  
Current service cost     67,548       49,109  
Interest cost     11,583       7,563  
Benefits paid     (74,016 )     -  
Remeasurement losses/(gains) debited/(credited) to other comprehensive income/(loss) arising from:                
Changes in financial assumptions     4,147       41,325  
Experience adjustments     (19,632 )     (6,440 )
Exchange realignment     1,384       790  
At December 31     185,274       194,260