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LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)
9 Months Ended
Sep. 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

 

 

 

September 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

 

 

(11,956 )

 

 

(18,305 )

Foreign translation differences

 

 

(4,159 )

 

 

(2,221 )

Balance

 

$24,975

 

 

$41,090

 

 

Operating lease liability as follow:

 

 

 

 

 

September 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

 

 

(13,939

)

 

 

(16,856

)

Add: imputed interest

 

 

1,273

 

 

 

2,704

 

Foreign translation differences

 

 

(4,343

)

 

 

(5,046

)

Balance as of end of the year

 

 

25,900

 

 

 

42,909

 

Less: lease liability current portion

 

 

(11,782

)

 

 

(18,272

)

Lease liability non-current portion

 

$

14,118

 

 

$

24,637

 

Schedule of Amortization of Right of Use

Other information:

 

As of

 

 

 

September 30,

2022

 

 

December 31,

2021

 

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

 

 

 

 

 

 

Operating cash flow from operating lease

 

$17,009

 

 

$20,169

 

Right of use assets obtained in exchange for operating lease liabilities

 

 

24,975

 

 

 

41,090

 

Remaining lease term for operating lease (years)

 

 

1

 

 

 

2

 

Weighted average discount rate for operating lease

 

$5.40%

 

$5.40%