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SEGMENTED INFORMATION
 12 Months Ended
Dec. 31, 2022
SEGMENTED INFORMATION  
SEGMENTED INFORMATION

NOTE 11 – SEGMENTED INFORMATION

 

At December 31, 2022, the Company (“BGLC”) operates in the biochemical industry segment through its two Malaysian subsidiaries, BioNexus Malaysia and Chemrex.

 

 

 

 

BioNexus Gene Lab Corp.

a Wyoming company

 

 

 

 

 

 

 

 

 

 

 

 

100% owned

 

 

100% owned

Bionexus Gene Lab

Sdn. Bhd.,

a Malaysian company

 

 

Chemrex Corporation

Sdn. Bhd.,

a Malaysian Company

For year ended December 31, 2022, segmented revenue and net profit/(loss) (Currency expressed in United States Dollars (“US$”) are as follows:

 

 

 

BioNexus

Malaysia 

 

 

Chemrex

 

 

BGLC

 

 

Total

 

 

 

Year ended December 31, 2022

 

REVENUE

 

$95,816

 

 

$10,832,891

 

 

$-

 

 

$10,928,707

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COST OF REVENUE

 

 

(51,465 )

 

 

(9,618,213 )

 

 

-

 

 

 

(9,669,678 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GROSS PROFIT

 

 

44,351

 

 

 

1,214,678

 

 

 

-

 

 

 

1,259,029

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME

 

 

8,830

 

 

 

170,453

 

 

 

-

 

 

 

179,283

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

(286,753 )

 

 

(1,051,855 )

 

 

(390,881 )

 

 

(1,729,489 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCE COSTS

 

 

(5,657 )

 

 

(6,822 )

 

 

-

 

 

 

(12,479 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(LOSS)/PROFIT BEFORE TAX

 

 

(239,229 )

 

 

326,454

 

 

 

(390,881 )

 

 

(303,656 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax

 

 

(1,428 )

 

 

(2,470 )

 

 

-

 

 

 

(3,898 )

Income tax

 

 

-

 

 

 

(48,412 )

 

 

-

 

 

 

(48,412 )

Total tax expense

 

 

(1,428 )

 

 

(50,882 )

 

 

-

 

 

 

(52,310 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET (LOSS)/PROFIT

 

$(240,657 )

 

$275,572

 

 

$(390,881 )

 

$(355,966 )

 

 

 

BioNexus

Malaysia 

 

 

Chemrex

 

 

BGLC

 

 

Total

 

 

 

Year ended December 31, 2021

 

REVENUE

 

$1,515,673

 

 

$11,846,894

 

 

$-

 

 

$13,362,567

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COST OF REVENUE

 

 

(1,052,938 )

 

 

(10,042,688 )

 

 

-

 

 

 

(11,095,626 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GROSS PROFIT

 

 

462,735

 

 

 

1,804,206

 

 

 

-

 

 

 

2,266,941

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME

 

 

7,467

 

 

 

59,024

 

 

 

-

 

 

 

66,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

(160,094 )

 

 

(989,617 )

 

 

(127,894 )

 

 

(1,277,605 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCE COSTS

 

 

(4,158 )

 

 

(8,815 )

 

 

-

 

 

 

(12,973 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

 

 

305,950

 

 

 

864,798

 

 

 

(127,894 )

 

 

1,042,854

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax

 

 

(11,997 )

 

 

(14,739 )

 

 

-

 

 

 

(26,736 )

Income tax

 

 

(30,482 )

 

 

(234,065 )

 

 

-

 

 

 

(264,547 )

Total tax expense

 

 

(42,479 )

 

 

(248,804 )

 

 

-

 

 

 

(291,283 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET PROFIT/(LOSS)

 

$263,471

 

 

$615,994

 

 

$(127,894 )

 

$751,571

 

 

 

As of December 31, 2022 and 2021

 

 

 

Total Assets

 

 

Total Liabilities

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BGLC & Bionexus

 

$677,477

 

 

$1,167,214

 

 

$108,390

 

 

$121,586

 

Chemrex

 

 

8,062,685

 

 

 

8,407,176

 

 

 

1,966,759

 

 

 

2,273,025

 

TOTAL

 

 

8,740,162

 

 

 

9,574,390

 

 

 

2,075,149

 

 

 

2,394,611