The Company purchased motor vehicles under a finance lease agreement with the effective interest rate 5.99% of per annum due through January 2023, with principal and interest payable monthly. The obligation under the finance lease is as follows:

	As of
	December 31, 2019			December 31, 2018

Finance lease	$	69,863		$	89,634
Less: interest expense		(4,576	)		(7,571	)
Net present value of finance lease	$	65,287		$	82,063

Current portion	$	20,201		$	19,128
Non-current portion		45,086			62,935
Total	$	65,287		$	82,063

As of December 31, 2019, the maturities of the finance lease for each of the three years are as follows:

Years ending December 31:
2020	$	20,201
2021		21,138
2022 and later		23,948
Total	$	65,287