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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net (loss)/profit $ (121,596) $ 367,006
Adjustments to reconcile net (loss)/profit to net cash used in operating activities:    
Amortization of right of use asset 8,586 8,861
Depreciation of property, plant and equipment 44,943 46,022
Dividend income (19,322) (11,061)
Fair value loss on other investments 63,202 18,581
Operating (loss)/profit before working capital changes (24,187) 429,409
Changes in operating assets and liabilities:    
Inventories 9,717 (526,966)
Trade and other receivables 526,165 109,439
Deferred cost of revenue 67,606 0
Trade and other payables (635,694) (834,925)
Advance payment from customer (30,307) 0
Deferred revenue (77,276) 0
Operating lease liabilities (11,182) (10,921)
Tax recoverable (62,435) 44,249
Cash used in operating activities (237,593) (789,715)
Cash flows from investing activities:    
Acquisition of other investment (404,793) (371,759)
Dividend income 19,322 11,061
Purchase of plant and equipment (33,484) (1,473)
Proceeds from disposal of other investments 0 6,466
Net cash used in investing activities (418,955) (355,705)
Cash flows from financing activities:    
Repayment of finance lease (34,038) (15,346)
Repayments from Directors 0 (1,836)
Shares subscriptions 150,000 0
Net cash generated from/(used in) financing activities 115,962 (17,182)
Foreign currency translation adjustment (243,002) (142,385)
NET CHANGE IN CASH AND CASH EQUIVALENTS (783,588) (1,304,987)
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL YEAR 2,123,919 2,787,692
CASH AND CASH EQUIVALENTS, END OF FINANCIAL YEAR 1,340,331 1,482,705
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 849,744 1,059,812
Cash at bank 490,587 422,893
Cash and cash equivalents, end of financial year 1,340,331 1,482,705
Supplementary cash flow information:    
Interest paid (5,645) (6,837)
Income taxes paid $ (73,547) $ (44,249)