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Finance Lease Liabilities

6 Months Ended

12 Months Ended

Jun. 30, 2019

Dec. 31, 2018

13.	FINANCE LEASE LIABILITIES

For the six months ended 30 June, 2019 and 2018, the interest expense was $74,079 and $82,511, respectively.

The minimum lease payments under finance lease agreements are as follows:

	As at 30 June 2019			As at 31 December 2018
	(Unaudited)

Within 1 year	$	392,703		$	1,102,209
After 1 year but within 5 years		2,331,044			2,205,045
Less: Future finance charges on finance leases		(264,668	)		(324,429	)
Present value of finance lease liabilities, net	$	2,459,079		$	2,982,825

Leased assets included in Note 7, under finance leases, comprise vehicles and office equipment as follow:

	As at 30 June 2019			As at 31 December 2018
	(Unaudited)

Cost	$	7,529,374		$	7,113,238
Less: Accumulated depreciation		(3,037,293	)		(2,461,410	)
Net book value	$	4,492,081		$	4,651,828

13.

FINANCE LEASE LIABILITIES

For the years ended 31 December 2018 and 2017, the interest expense was $167,152 and $187,170, respectively.

The minimum lease payments under finance lease agreements are as follows:

	31 December
	2018			2017
Within 1 year	$	1,102,209		$	1,491,098
After 1 year but within 5 years		2,205,045			1,860,108
Less: Future finance charges on finance leases		(324,429	)		(283,282	)
Present value of finance lease liabilities, net	$	2,982,825		$	3,067,924

Leased assets included in Note 8, under a finance lease, comprise vehicles and office equipment as follow:

	31 December
	2018			2017
Cost	$	7,113,238		$	6,452,082
Less: Accumulated depreciation		(2,461,410	)		(2,289,990	)
Net book value	$	4,651,828		$	4,162,092