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RIGHT-OF-USE ASSETS AND LEASES LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Presentation of leases for lessee [abstract]  
SUMMARY OF CARRYING AMOUNTS OF RIGHT-OF-USE ASSETS FOR LEASE

The carrying amounts of right-of-use assets for lease are as below:

 

  

Net book amount at January 1, 2024  $nil 
Net book amount at June 30, 2024  $310,000 
      
Net book amount at January 1, 2023  $68,000 
Net book amount at December 31, 2023  $nil 
SCHEDULE OF LEASE LIABILITIES

The lease liabilities for continuing operations are as below:

 

  

   June 30, 2024   December 31, 2023 
   USD’000   USD’000 
Lease liabilities - current   117    - 
Lease liabilities – noncurrent   227    - 
Total lease liabilities     344    - 
SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR THE LEASES

Contractual undiscounted cash flows for the leases:

 

  

   As of December 31, 2023 
   Within one year   One to five years   Total contractual undiscounted cash flow 
   USD’000   USD’000   USD’000 
    150    250    400 
SUMMARY OF CONSOLIDATED INCOME STATEMENT SHOWING THE AMOUNTS RELATING TO LEASES

The consolidated income statement shows the following amounts from continuing operations relating to leases:

 

  

   Six Months ended 
   June 30, 2024 
   USD’000 
Amortization charge of right-of-use assets   33 
Interest expense   13 

 

    Six Months ended  
    June 30, 2023  
    USD’000  
Amortization charge of right-of-use assets            -  
Interest expense     -  

 

The consolidated income statement shows the following amounts from discontinued operations relating to leases:

 

   Six Months ended 
   June 30, 2023 
Amortization charge of right-of-use assets   616 
Interest expense   42