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BANK OVERDRAFTS
3 Months Ended
Mar. 31, 2021
BANK OVERDRAFTS  
BANK OVERDRAFTS

NOTE 8 – BANK OVERDRAFTS

During the year ended December 31, 2020, the Company entered into a bank overdraft facility with Thanachart Bank Plc for short-term liquidity needs. The bank overdraft facility is repayable on demand, bearing interest at an annual rate of 2.6%, having a maximum spending limit of 0.45 million Thai baht (THB)($14,400), secured by the Company’s another bank account and the repayment is guaranteed by Mr. Ratanaphon Wongnapachant, the Company’s CEO. As of March 31, 2021 and December 31, 2020, the bank overdrafts outstanding were $12,098 and $13,739, respectively.