XML 35 R20.htm IDEA: XBRL DOCUMENT v3.24.1
OTHER BORROWINGS
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
OTHER BORROWINGS

Note 11       OTHER BORROWINGS

 

Others loans consisted of the following:

           
    For the years ended December 31,  
    2023     2022  
             
Secured loan from Chailease Finance Co., Ltd wholly repayable within 1 year   $ 487,800     $ 214,913  
Total secured loan wholly repayable within 1 year     487,800       214,913  
                 
Secured loan from Chailease Finance Co., Ltd wholly repayable more than 1 year     –       436,341  
Total   $ 487,800     $ 651,254  

 

As of December 31, 2022, the outstanding loan from Chailease Finance Co., Ltd of $651,254 (or TWD 20,000,000) with annual interest rate of 6% was secured by pledging the timely deposit in Sunny Bank (Xizhi Brench) of 500,000, and denominated in TWD for a term of 24 months. This facility of credit limit of TWD 20,000,000 was obtained on December 19, 2022 and will be expired on December 16, 2024.