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CONCENTRATION OF RISKS
 12 Months Ended
Dec. 31, 2022
CONCENTRATION OF RISKS  
CONCENTRATION OF RISKS

NOTE 9 – CONCENTRATION OF RISKS

 

a) Major customers

 

There are no major customers who accounted for 10% or more of the Company’s revenue for the financial year ended December 31, 2022 and 2021.

 

b) Major suppliers

 

For year ended December 31, 2022, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows:

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

Purchase

 

 

Percentage of

purchases

Accounts payable

trade

 

Vendor A

 

$1,497,142

 

 

$1,815,817

 

 

 

15.48%

 

 

16.37%

 

$147,376

 

 

$397,636

 

Vendor B

 

$1,425,867

 

 

$1,404,442

 

 

 

14.74%

 

 

12.66%

 

$389,697

 

 

$405,999

 

Vendor C

 

$1,424,476

 

 

$2,026,842

 

 

 

14.73%

 

 

18.27%

 

$509,031

 

 

$640,827

 

Vendor D

 

$1,171,511

 

 

$1,191,344

 

 

 

12.11%

 

 

10.74%

 

$366,764

 

 

$269,966

 

 

 

$5,518,996

 

 

$6,438,445

 

 

 

57.06%

 

 

58.03%

 

$1,412,868

 

 

$1,714,428