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LEASES
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
LEASES

Note 13     LEASES

 

The Company has two non-cancelable lease agreements for certain office and accommodation as well as fish farming containers for research and develop advanced technology for water circulation applying in fishery with original lease periods expiring between 2022 and 2023. The lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. The Company recognizes rental expense on a straight-line basis over the lease term.

 

The components of lease expenses for the year ended December 31, 2023 and December 31, 2022 were as follows:

               
    Statement of Income Location   For the year ended December 31, 2023     For the year ended December 31, 2022  
        $     $  
Lease Costs                
Operating lease expense   General and administrative expenses     69,442       51,227  
Total net lease costs         69,442       51,227  

 

Maturity of lease liabilities under our non-cancelable operating leases as of December 31, 2023 and December 31, 2022 are US$ nil.