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Related Party Transactions and Balances (Tables)

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Schedule of related party transactions and balances

Sales/ Purchase from a related party – consisted of the following:

​	​	​	​	​	​	​	​	​	​	​
​		​		Nature of		For the Year Ended December 31,
Name of Related Party	​	Relationship	​	transactions	​	2023		​	2022
​	​	​	​	​	​	USD		​	USD
Focal Capital Holding Limited	​	An entity under common control	​	Purchase	​	$	7,003,714	​	$	9,850,083
Foremost Worldwide Co., Ltd		An entity under common control		Purchase	​	​	2,308,468	​	​	5,812,457
F.P.Z. FURNITURE (CAMBODIA) CO., LTD	​	An entity under common control	​	Purchase	​	​	575,061	​	​	—
Foremost Australasia Pty Ltd	​	An entity under common control		Purchase	​	​	409,777	​	​	—
RIZHAO FOREMOST WOODWORK MANUFACTURING CO. LTD	​	An entity under common control		Purchase	​	​	16,026	​	​	—
​	​	​	​	​	​	$	10,313,046	​	$	15,662,540

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Nature of	​	For the Year Ended December 31,
Name of Related Party	​	Relationship	​	transactions	​	2023		​	2022
​	​	​	​	​	​	USD		​	USD
Foremost Worldwide Co., Ltd		An entity under common control		Sales	​	$	—	​	$	593,578
​	​	​	​	​	​	$	—	​	$	593,578

Prepayments — related parties

​	​	​	​	​	​	​
​	​	As of		​	As of
​		December 31,			December 31,
Name of Related Party	​	2023		​	2022
​	​	USD		​	USD
​	​	​		​	​
Focal Capital Holding Limited	​	$	6,658,498	​	$	3,806,873
Rizhao Foremost Woodwork Manufacturing Co., Ltd.	​	​	9,181	​	​	—
​	​	$	6,667,679	​	$	3,806,873

Accounts Payables — related parties

​	​	​	​	​	​	​
​	​	As of		​	As of
​		December 31,			December 31,
Name of Related Party	​	2023		​	2022
​	​	USD		​	USD
​	​	​		​	​
Foremost Worldwide Co., Ltd		$	735,308	​	$	104,442
​	​	$	735,308	​	$	104,442

The ending balance as of December 31, 2023 and December 31, 2022, are listed of the following:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	As of		​	As of
​		​		Nature of		December 31,			December 31,
Name of Related Party	​	Relationship	​	transactions	​	2023		​	2022
​	​	​	​	​	​	USD		​	USD
​	​	​	​	​	​	​		​	​
Foremost Home Inc. (“FHI”)	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	1,183,612	​	​	1,879,249
Foremost Worldwide Co., Ltd	​	An entity under common control	​	Shared services and Miscellaneous expenses	​	​	(251,008)	​	​	(42,473)
​	​	​	​	​	​	$	932,604	​	$	1,836,776

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- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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