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Segment Information | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Segment Information | NOTE 16 - SEGMENT INFORMATION ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. The Company has two reportable segments that are based on the following business units: service business and real estate business. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. The Company operates two reportable business segments:
● | Service business – provision of corporate advisory and business solution services
● | Real estate business – trading or leasing of commercial real estate properties in Hong Kong and Malaysia
The Company had no inter-segment sales for the periods presented. Summarized financial information concerning the Company’s reportable segments is shown as below: (a) By Categories
|  | For the year ended December 31, 2019 |
|  | Real estate business |  |  | Service business |  |  | Corporate |  |  | Total |
Revenues |  | $ | 283,221 |  |  | $ | 4,201,601 |  |  | $ | - |  |  | $ | 4,484,822 |
Cost of revenues |  |  | (185,486 | ) |  |  | (1,191,301 | ) |  |  | - |  |  |  | (1,376,787 | )
Depreciation and amortization |  |  | 32,419 |  |  |  | 217,317 |  |  |  | 16,013 |  |  |  | 265,749 |
Net income (loss) |  |  | (5,027 | ) |  |  | (705,375 | ) |  |  | (639,076 | ) |  |  | (1,349,478 | )
Total assets |  |  | 2,445,824 |  |  |  | 6,277,271 |  |  |  | 161,358 |  |  |  | 8,884,453 |
Capital expenditures for long-lived assets |  | $ | - |  |  | $ | 4,912 |  |  | $ | 701 |  |  | $ | 5,613 |
|  | For the year ended December 31, 2018 |
|  | Real estate business |  |  | Service business |  |  | Corporate |  |  | Total |
Revenues |  | $ | 1,532,612 |  |  | $ | 2,680,748 |  |  | $ | - |  |  | $ | 4,213,360 |
Cost of revenues |  |  | (1,082,401 | ) |  |  | (859,033 | ) |  |  | (139,750) |  |  |  | (2,081,184 | )
Depreciation and amortization |  |  | - |  |  |  | 217,492 |  |  |  | 16,448 |  |  |  | 233,940 |
Net income (loss) |  |  | 406,614 |  |  |  | (3,313,294 | ) |  |  | (5,418,483 | ) |  |  | (8,325,163 | )
Total assets |  |  | 2,631,509 |  |  |  | 6,317,841 |  |  |  | 1,114,604 |  |  |  | 10,063,954 |
Capital expenditures for long-lived assets |  | $ | - |  |  | $ | 44,987 |  |  | $ | 254,210 |  |  | $ | 299,197 |
(b) By Geography*
|  | For the year ended December 31, 2019 |  |  |  |
|  | Hong Kong |  |  | Malaysia |  |  | China |  |  | Total |
Revenues |  | $ | 3,363,067 |  |  | $ | 514,165 |  |  | $ | 607,590 |  |  | $ | 4,484,822 |
Cost of revenues |  |  | (1,100,326 | ) |  |  | (211,470 | ) |  |  | (64,991 | ) |  |  | (1,376,787 | )
Depreciation and amortization |  |  | 111,149 |  |  |  | 34,948 |  |  |  | 119,652 |  |  |  | 265,749 |
Net income (loss) |  |  | (1,072,544 | ) |  |  | 34,291 |  |  |  | (311,225 | ) |  |  | (1,349,478 | )
Total assets |  |  | 4,400,010 |  |  |  | 1,155,602 |  |  |  | 3,328,841 |  |  |  | 8,884,453 |
Capital expenditures for long-lived assets |  | $ | 701 |  |  | $ | - |  |  | $ | 4,912 |  |  | $ | 5,613 |
|  | For the year ended December 31, 2018 |  |  |  |
|  | Hong Kong |  |  | Malaysia |  |  | China |  |  | Total |
Revenues |  | $ | 3,271,745 |  |  | $ | 661,008 |  |  | $ | 280,607 |  |  | $ | 4,213,360 |
Cost of revenues |  |  | (1,804,592 | ) |  |  | (255,387 | ) |  |  | (21,205 | ) |  |  | (2,081,184 | )
Depreciation and amortization |  |  | 100,668 |  |  |  | 1,920 |  |  |  | 131,352 |  |  |  | 233,940 |
Net income (loss) |  |  | (7,556,343 | ) |  |  | (64,770) |  |  |  | (704,050 | ) |  |  | (8,325,163 | )
Total assets |  |  | 5,577,046 |  |  |  | 1,111,218 |  |  |  | 3,375,690 |  |  |  | 10,063,954 |
Capital expenditures for long-lived assets |  | $ | 255,278 |  |  | $ | 6,396 |  |  | $ | 37,523 |  |  | $ | 299,197 |
*Revenues and costs are attributed to countries based on the location of customers.

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- References No definition available. + Details
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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