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Financial Risk Management Objectives and Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Financial Risk Management Objectives and Policies [Abstract]  
Schedule of Gross Carrying Amounts for Financial Assets
  12-month
ECLs		   Lifetime ECLs     
             Simplified     
  Stage 1   Stage 2   Stage 3   approach   Total 
  US$   US$   US$   US$   US$ 
December 31, 2024                    
Accounts receivable* 
-
  
-
  
-
   13,644,371   13,644,371 
Contract assets*   
-
    
-
    
-
    11,825,444    11,825,444 
Financial assets included in deposits and other receivables                         
- Normal**   639,444    
-
    
-
    
-
    639,444 
Pledged bank deposits                         
-  Not yet past due   185,336    
-
    
-
    
-
    185,336 
Cash and cash equivalents                         
- Not yet past due   42,521,520    
-
    
-
    
-
    42,521,520 
    43,346,300    
-
    
-
    25,469,815    68,816,115 
December 31, 2023                         
Accounts receivable*   
-
    
-
    
-
    17,346,035    17,346,035 
Contract assets*   
-
    
-
    
-
    16,024,969    16,024,969 
Financial assets included in deposits and other receivables                         
- Normal**   808,679    
-
    
-
    
-
    808,679 
Pledged bank deposits                         
-  Not yet past due   188,745    
-
    
-
    
-
    188,745 
Cash and cash equivalents                         
- Not yet past due   68,641,016    
-
    
-
    
-
    68,641,016 
    69,638,440    
-
    
-
    33,371,004    103,009,444 

 

*For accounts receivable and contract assets to which the Group applies the simplified approach for impairment, information is disclosed in notes 14 and 15 to the financial statements.

 

**The credit quality of financial assets included in deposits and other receivables is considered to be “normal” when it is not past due and there is no information indicating that the financials had a significant increase in credit risk since initial recognition. Otherwise, the credit quality of the financial assets is considered to be “doubtful”.
Schedule of Financial Liabilities

The maturity profile of the Group’s financial liabilities as at the end of the reporting period, based on the contractual undiscounted payments, is as follows:

 

   Within 1
year or on
demand		   1 to 5
years		   Total 
   US$   US$   US$ 
2024            
Lease liabilities   469,930    304,338    774,268 
Financial liabilities included in accounts and other payable   27,403,211    
-
    27,403,211 
    27,873,141    304,338    28,177,479 
2023               
Lease liabilities   591,361    33,081    624,442 
Financial liabilities included in accounts and other payable   29,504,114    
-
    29,504,114 
    30,095,475    33,081    30,128,556 
Schedule of Exchange Rates

The following table demonstrates the sensitivity at the end of the reporting period to a reasonably possible change in the SGD, TWD, MYR, PHP, THB and IDR exchange rates, with all other variables held constant, of the Group’s loss before tax. As HK$ is pegged to US$, the directors of the Company anticipate that there will be no significant movements in the US$/HK$ exchange rates and the exposure on US$ will not be material.

 

   2024   2023 
   Increase/   Increase/   Increase/   Increase/ 
   (decrease) in   (decrease)   (decrease) in   (decrease) 
   foreign   in loss   foreign   in loss 
   exchange rate   after tax   exchange rate   after tax 
   US$   US$ 
SGD   3%   (1,527,154)   3%   (1,477,961)
    (3)%   1,527,154    (3)%   1,477,961 
TWD   3%   (500,404)   3%   (474,534)
    (3)%   500,404    (3)%   474,534 
MYR   3%   (196,365)   3%   (402,719)
    (3)%   196,365    (3)%   402,719 
PHP   3%   (635,994)   3%   (576,565)
    (3)%   635,994    (3)%   576,565 
THB   3%   (328,388)   3%   (329,276)
    (3)%   328,388    (3)%   329,276 
IDR   3%   (183,444)   3%   (184,116)
    (3)%   183,444    (3)%   184,116