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Intangible Assets, Net

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 7 – INTANGIBLE ASSETS, NET

As of June 30, 2021 and 2020, intangible assets, net consisted of the following:

	As of June 30,
	2021			2020
Customer contracts	$	356,870		$	658,224
Customer relationship		1,056,162			896,572
Software		80,330			63,884
Less: accumulated amortization		(442,863	)		(474,101	)
Intangible assets, net	$	1,050,499		$	1,144,579

During the year ended June 30, 2020, customer relationship of $896,572 was derived from the acquisition of Ridik Pte. with an estimated useful life of 10 years. During the year ended June 30, 2021 , customer relationship of $127,002 was derived from the acquisition of CareerWin with an estimated useful life of 5 years (Note 3).

The movement of intangible assets, net is as follow:

	For the year ended June 30, 2021
Balance as of July 1, 2020	$	1,144,579
Addition		137,006
Amortization		(273,178	)
Disposal		(9,724	)
Foreign currency translation adjustment		51,816
Balance as of June 30, 2021	$	1,050,499

The amortization expenses were $273,178, $232,871 and $164,351 for the years ended June 30, 2021, 2020 and 2019. Estimated future amortization expenses are as follows:

Year ending June 30,	Amortization expense
2021	$	189,148
2022		184,631
2023		134,592
2024		129,366
2025		110,786
2026 and after		301,976
Total	$	1,050,499

No impairment losses were recognized for the years ended June 30, 2021, 2020 and 2019.