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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
10. PROPERTY, PLANT AND EQUIPMENT

 

   Leasehold
improvements		   Machinery and
equipment		   Office
furbishing
and equipment		   Vehicles   Assets
under
construction		   GDM
machines		   Robots   Total 
Cost                                
At December 31, 2021  $3,239,683   $5,108,501   $5,412,444   $16,233,868   $248,686   $1,713,926   $5,369,070   $37,326,178 
Acquisitions through business combinations   -    -    205,070    141,619    -    -    2,571,013    2,917,702 
Additions   146,750    35,987    40,690    92,813    33,222    72,892    4,031,107    4,453,461 
Disposals   (125,666)   (94,616)   (70,482)   (367,110)   -    (15,513)   (9,260)   (682,647)
Impairment of fixed assets   -    -    -    -    -    -    (4,408,037)   (4,408,037)
Transfer in (out)   1,426    -    -    -    (239,833)   238,407    -    - 
Exchange differences   (115,329)   (181,857)   (233,371)   (582,203)   (8,853)   (61,014)   (359,078)   (1,541,705)
At December 31, 2022  $3,146,864   $4,868,015   $5,354,351   $15,518,987   $33,222   $1,948,698   $7,194,815   $38,064,952 
Additions   -    13,390    26,202    39,199    74,126    1,144,766    810,559    2,108,242 
Disposals   (106,385)   (107,569)   (97,835)   (214,021)   -    -    (301,877)   (827,687)
Impairment of fixed assets   -    -    -    -    -    -    (3,702,367)   (3,702,367)
Exchange differences   33,330    55,507    53,107    161,220    1,561    40,419    (46,977)   298,167 
At December 31, 2023  $3,073,809   $4,829,343   $5,335,825   $15,505,385   $108,909   $3,133,883   $3,954,153   $35,941,307 
                                         
Accumulated Depreciation                                        
At December 31, 2021  $2,693,472   $4,906,277   $4,799,149   $13,447,168   $-   $891,378   $691,433   $27,428,877 
Acquisitions through business combinations   -    -    184,364    136,723    -    -    520,516    841,603 
Depreciation charged for the year   101,881    105,302    184,958    727,204    -    371,378    1,883,562    3,374,285 
Disposals   (121,818)   (89,083)   (69,528)   (339,179)   -    (5,116)   (1,970)   (626,694)
Exchange differences   (96,194)   (174,465)   (209,201)   (478,260)   -    (27,393)   (34,367)   (1,019,880)
At December 31, 2022  $2,577,341   $4,748,031   $4,889,742   $13,493,656   $-   $1,230,247   $3,059,174   $29,998,191 
Depreciation charged for the year   105,006    67,840    166,670    448,136    -    429,512    1,006,483    2,223,647 
Disposals   (106,287)   (107,565)   (91,802)   (213,092)   -    -    (100,848)   (619,594)
Exchange differences   28,979    53,293    50,910    151,978    -    20,834    (10,656)   295,338 
At December 31, 2023  $2,605,039   $4,761,599   $5,015,520   $13,880,678   $-   $1,680,593   $3,954,153   $31,897,582 
                                         
Net book value                                        
At December 31, 2022  $569,523   $119,984   $464,609   $2,025,331   $33,222   $718,451   $8,564,630   $8,066,761 
At December 31, 2023  $468,770   $67,744   $320,305   $1,624,707   $108,909   $1,453,290   $-   $4,043,725 

 

During the year ended December 31, 2023 and 2022, the Company recognized an impairment loss on robots’ assets of $3,682,789 and $4,408,037, respectively. There was no impairment of property, plant and equipment recorded for the years ended December 31, 2021. No property, plant and equipment were pledged as security for bank borrowings.

 

As of December 31, 2023 and 2022, net book value of robots’ assets of approximately $nil and $447,000, respectively were leased out to third parties and the robots’ assets were held and used by the lessee.