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LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2022
LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES  
Schedule of the Operating Lease Right

Operating lease right of use as follow:

 

As of

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Balance as of beginning of the year

 

$41,090

 

 

$62,529

 

Reduction due to discount on rental

 

 

-

 

 

 

(913 )

Less: Amortization

 

 

(8,320 )

 

 

(18,305 )

Foreign translation differences

 

 

(2,265 )

 

 

(2,221 )

Balance

 

$30,505

 

 

$41,090

 

Operating lease liability as follow:

 

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Balance as of beginning of the year

 

$42,909

 

 

$63,079

 

Add: Addition of lease liabilities

 

 

-

 

 

 

(972 )

Less: gross repayment

 

 

(9,769 )

 

 

(16,856 )

Add: imputed interest

 

 

952

 

 

 

2,704

 

Foreign translation differences

 

 

(2,366 )

 

 

(5,046 )

Balance as of end of the year

 

 

31,726

 

 

 

42,909

 

Less: lease liability current portion

 

 

(14,034 )

 

 

(18,272 )

Lease liability non-current portion

 

$17,692

 

 

$24,637

 

Schedule of Amortization of Right of Use

Other information:

 

As of

 

 

 

June 30,

2022

 

 

December 31,

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flow from operating lease

 

$11,182

 

 

$20,169

 

Right of use assets obtained in exchange for operating lease liabilities

 

 

30,505

 

 

 

41,090

 

Remaining lease term for operating lease (years)

 

 

1.5

 

 

 

2

 

Weighted average discount rate for operating lease

 

$5.40%

 

$5.40%