CONCENTRATIONS OF RISK

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

CONCENTRATIONS OF RISK

10. CONCENTRATIONS OF RISK

The Company is exposed to the following concentrations of risk:

(a) Major customers

For the years ended December 31, 2024 and 2023, the individual customer who accounts for 10% or more of the Company’s revenues and its outstanding receivable balances as at year-end dates, are presented as follows:

	Year ended December 31, 2024					December 31, 2024
Customers	Revenues		Percentage of revenues			Accounts receivable
Customer A	$	700,884		98%		$	–
Total:	$	700,884		98%	Total:	$	–

	Year ended December 31, 2023					December 31, 2023
Customers	Revenues		Percentage of revenues			Accounts receivable
Customer A	$	289,368		91%		$	11,768
Total:	$	289,368		91%	Total:	$	11,768

(b) Major suppliers

For the years ended December 31, 2024 and 2023, the individual supplier who accounts for 10% or more of the Company’s cost of revenue and its outstanding payable balances as at year-end dates, are presented as follows:

	Year ended December 31, 2024					December 31, 2024
Suppliers	Cost of revenues		Percentage of cost of revenues			Balance outstanding
Supplier A	$	113,951		20%		$	1,068,099
Supplier B	$	455,528		79%		$	1,695,698
Total:	$	569,479		99%	Total:	$	2,763,797

	Year ended December 31, 2023					December 31, 2023
Suppliers	Cost of revenues		Percentage of cost of revenues			Balance outstanding
Supplier A	$	113,774		18%		$	797,932
Supplier B	$	511,636		80%		$	1,083,511
Total:	$	625,410		98%	Total:	$	1,881,443

(c) Economic and political risk

The Company’s major operations are conducted in Malaysia. Accordingly, the political, economic, and legal environments in Malaysia, as well as the general state of Malaysia’s economy may influence the Company’s business, financial condition, and results of operations.

(d) Exchange rate risk

The Company cannot guarantee that the current exchange rate will remain steady; therefore there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of TAKA and MYR converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

(d) Concentration of credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains cash with various financial institutions in Malaysia. Cash are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. The Perbadanan Insurans Deposit Malaysia (“PIDM”) pays compensation up to a limit of RM250,000 if the bank with which an individual/a company hold its eligible deposit fails. At December 31, 2024 and December 31, 2023, the Company did not have deposit funds that exceeded the insured limits in Malaysia.