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Borrowings | 12 Months Ended
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Dec. 31, 2021
Disclosure of detailed information about borrowings [Abstract] |
BORROWINGS |
13. | BORROWINGS
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
Current portion of long-term borrowings |  | $ | 933,110 |  |  | $ | 494,994 |
Long-term borrowings |  |  | 859,120 |  |  |  | 993,869 |
Borrowings from financial institutions |  | $ | 1,792,230 |  |  | $ | 1,488,863 |
The Company maintains borrowings with one financial institution. The borrowings are used for working capital purposes to support its business operations in Thailand. For the year ended December 31, 2021, the Company borrowed four bank loans carrying interests at the rates of 4.47, 2%, 2%, and 4.22%, respectively. For the year ended December 31, 2020, the Company borrowed five bank loans carrying interests at the rates of MLR minus 1%, MLR minus 1%, MLR minus 1%, 2%, and 2%, respectively. Borrowings are due to mature and repayable on June 30, 2023, May 31, 2022, April 7, 2025 and February 16, 2022. For the years ended December 31, 2021, 2020 and 2019, interest expense was $78,353 and $82,779 and $81,191, respectively. As of December 31, 2021, the Company has unused bank overdraft availability of approximately $300,000. As of December 31, 2020, the Company has unused bank overdraft availability of approximately $330,000 and unused trust receipts availability of approximately $1,700,000.

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- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2021-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_7&doctype=Standard -URIDate 2021-03-24 + Details
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