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LEASES | 6 Months Ended
--- | ---
Jun. 30, 2026
Leases |
LEASES | NOTE 6 - LEASES As of June 30, 2026, the Company has an operating lease agreement for one office space in Hong Kong, with a non-cancellable term of one year commencing from March 15, 2026, to March 14, 2027, after a cancellable term of 1 one year expired on March 14, 2026, and has a finance lease for a motor vehicle in Malaysia, with a term of 5 five years, respectively. Other than these leases, the Company does not have any other leases over the term of one year. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally, the implicit rate of interest (“discount rate”) in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives. The components of lease expense and supplemental cash flow information related to operating leases and finance leases for the periods ended June 30, 2026, and 2025 are as follows: SCHEDULE OF COMPONENTS OF LEASE AND SUPPLEMENTAL CASH FLOW INFORMATION
|  | 2026 |  |  | 2025 |
|  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |
|  | (Unaudited) |  |  | (Unaudited) |
Lease costs |  |  |  |  |  |  |  |
Operating lease costs: |  |  |  |  |  |  |  |
Rental expenses (1) |  | $ | 42,762 |  |  | $ | 48,853 |
Other rental expenses (2) |  |  | 7,562 |  |  |  | 7,667 |
Total operating lease costs |  |  | 50,324 |  |  |  | 56,520 |
Finance lease costs: |  |  |  |  |  |  |  |
Interest expenses |  | $ | 362 |  |  | $ | 466 |
Total finance lease costs |  |  | 362 |  |  |  | 466 |
Total lease costs |  | $ | 50,686 |  |  | $ | 56,986 |
Other information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Rental payment - operating leases |  | $ | 42,762 |  |  | $ | 48,853 |
Interest repayment - finance leases |  |  | 362 |  |  |  | 466 |
Principal repayment - finance leases |  |  | 2,224 |  |  |  | 1,899 |
Total cash paid |  | $ | 45,348 |  |  | $ | 51,218 |
Non-cash activity: |  |  |  |  |  |  |  |
Balance payment of ROU asset by finance lease liabilities |  | $ | 9,035 |  |  | $ | 12,894 |
Weighted average remaining lease term (in years): |  |  |  |  |  |  |  |
Operating leases |  |  | 0.70 |  |  |  | 0.70 |
Finance leases |  |  | 1.92 |  |  |  | 2.92 |
Weighted average discount rate: |  |  |  |  |  |  |  |
Operating leases |  |  | 4.0 | % |  |  | 4.0 | %
Finance leases |  |  | 6.9 | % |  |  | 6.9 | %
(1) | Rental expenses include amortization of $41,733 and $47,582 and interest expenses of $1,029 and $1,271 during the six months ended June 30, 2026, and 2025, respectively.
(2) | Other rental expenses represent those rental expenses for leases with a lease term within one year, and government rent and rates related to the leases.
The supplemental balance-sheet information related to leases as of June 30, 2026 and December 31, 2025, is as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES
|  | As of June 30, 2026 |  |  | As of December 31, 2025 |
|  | (Unaudited) |  |  | (Audited) |
Assets |  |  |  |  |  |  |  |
Long-term operating lease ROU assets, net (1) |  | $ | 53,577 |  |  | $ | 19,890 |
Long-term finance lease ROU asset, net (2) |  |  | 12,449 |  |  |  | 15,794 |
Total ROU assets |  | $ | 66,026 |  |  | $ | 35,684 |
Liabilities |  |  |  |  |  |  |  |
Current portion of operating lease liabilities |  | $ | 53,577 |  |  | $ | 19,890 |
Current portion of finance lease liabilities |  |  | 4,568 |  |  |  | 4,442 |
Total current lease liabilities |  |  | 58,145 |  |  |  | 24,332 |
Long-term finance lease liabilities |  |  | 4,467 |  |  |  | 6,833 |
Total long-term lease liabilities |  |  | 4,467 |  |  |  | 6,833 |
Total lease liabilities |  | $ | 62,612 |  |  | $ | 31,165 |
(1) | Operating lease ROU assets are measured at cost of $523,005 and $447,497, less accumulated amortization of $469,428 and $427,607 as of June 30, 2026, and December 31, 2025, respectively.
(2) | Finance lease ROU assets are measured at cost of $28,898 less accumulated amortization of $16,449 and $13,104 as of June 30, 2026, and December 31, 2025, respectively.
Maturities of the Company’s lease liabilities as of June 30, 2026, are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES
|  | Operating leases |  |  | Finance leases |
Year ending December 31, |  |  |  |  |  |  |  |
2026 (remaining 6 months) |  | $ | 38,635 |  |  | $ | 2,523 |
2027 |  |  | 15,786 |  |  |  | 5,045 |
2028 |  |  | - |  |  |  | 2,099 |
Total future minimum lease payments |  |  | 54,421 |  |  |  | 9,667 |
Less: Imputed interest / present value discount |  |  | (844 | ) |  |  | (632 | )
Present value of lease liabilities |  | $ | 53,577 |  |  | $ | 9,035 |
Lease obligations |  |  |  |  |  |  |  |
Current lease obligations |  | $ | 53,577 |  |  | $ | 4,568 |
Long-term lease obligations |  |  | - |  |  |  | 4,467 |
Total lease obligations |  | $ | 53,577 |  |  | $ | 9,035 |
For the three months ended June 30, 2026, total lease costs were $22,998, including operating lease costs of $22,828 and finance lease costs of $170. For the three months ended June 30, 2025, total lease costs were $28,096, including operating lease costs of $27,866 and finance lease costs of $230. For the six months ended June 30, 2026, total lease costs were $50,686, including operating lease costs of $50,324 and finance lease costs of $362. For the six months ended June 30, 2025, total lease costs were $56,986, including operating lease costs of $56,520 and finance lease costs of $466.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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