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Leases

12 Months Ended

Dec. 31, 2025

13. Leases

Operating Lease Liabilities

As of December 31, 2025, the Company has operating lease agreements for its hostel and office equipment with remaining lease terms of 7 to 55 months. These leases have original terms not exceeding 5 years.

Information pertaining to right of use assets is summarized as follows:

	At December 31,
	2025			2024
Hostel and office equipment	$	77,120		$	82,870
Less: Accumulated amortization		(5,625	)		(41,628	)
Right of use assets, net	$	71,495		$	41,242

The Company recognized the following total lease cost related to the Company’s lease arrangements:

	Years Ended December 31,
	2025		2024		2023
Operating lease cost:
Operating lease	$	39,405	$	49,019	$	14,596
Expenses relating to short-term leases		62,773		32,728		20,415
Total lease cost	$	102,178	$	81,747	$	35,011

As of December 31, 2025, the present value of the net minimum lease payments are as follows:

Future Minimum Lease Payments	Operating Leases
2026	$	38,251
2027		33,825
2028		1,029
2029		672
2030		221
Total remaining lease payments (undiscounted)		73,998
Less imputed interest		(2,318	)
Present value of lease liabilities	$	71,680

Other information related to leases for the years ended December 31, 2025, 2024 and 2023:

	Years Ended December 31,
	2025			2024			2023
Weighted-average remaining lease term - operating leases		2.71 years			1.9 years			2.5 years
Weighted-average discount rate - operating leases		3.35	%		3.35	%		3.35	%
Right of use assets obtained in exchange for new operating lease liabilities	$	74,310		$	25,294		$	73,603
Cash paid for amounts included in the measurement of lease liabilities – operating cash flow from operating leases	$	40,882		$	48,620		$	14,903

Finance Lease Liabilities

The Company acquired motor vehicles under a hire purchase financing arrangement for a total of $27,120, $0 and $56,607 for the years ended December 31, 2025, 2024 and 2023, respectively.

	At December 31,
	2025			2024
Finance lease liabilities	$	131,097		$	154,796
Less Finance lease liabilities – current		(59,172	)		(54,484	)
Finance lease liabilities – non-current	$	71,925		$	100,312

As of December 31, 2025, the net minimum lease payments are as follows:

Year Ended December 31,	Leases Payment
2026	$	63,739
2027		53,571
2028		15,009
2029		5,509
2030		457
		138,285
Less imputed interest		(7,188	)
Finance lease liabilities	$	131,097
Finance lease liabilities – current	$	59,172
Finance lease liabilities – non-current	$	71,925