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Leases

12 Months Ended

Dec. 31, 2021

20	LEASES

The Group has lease contracts for various office spaces used in its operations. Leases of such office spaces generally have lease terms between 1 and 5 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets.

There are several lease contracts that include extension and termination options and variable lease payments.

Set out below are the carrying amounts of right-of-use assets recognized and the movements during the year:

	ROU
	USD

At January 1, 2020		339,770
Depreciation expense (note 8)		(85,117	)
At December 31, 2020		254,653

Depreciation expense (note 8)		(84,884	)
At December 31, 2021		169,769

Set out below are the carrying amounts of lease liabilities and the movements during the period:

	2021			2020
	USD			USD

As at January 1		319,413			378,914
Accretion of interest (note 9)		57,779			74,149
Payments		(136,992	)		(133,650	)
As at December 31		240,200			319,413

	2021		2020
	USD		USD

Current		104,233		79,214
Non-current		135,967		240,199
		240,200		319,413

The maturity analysis of lease liabilities is disclosed in Note 24

	2021		2020
	USD		USD

Depreciation expense of right-of-use assets (note 8)		84,884		85,117
Interest expense on lease liabilities (note 9)		57,779		74,149
Expenses relating to short-term lease (note 8)		474,865		89,362
Total amount recognized in profit or loss		617,528		248,628

There are no potential future rental payments, on account of extension options expected not to be exercised and termination option expected to be exercised, relating to periods following the exercise date of extension and termination options that are not included in the lease term.