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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (328,317) $ (121,596)
Adjustments to reconcile net loss to net cash used in from operating activities:    
Amortization of right of use asset 7,891 8,586
Allowances for expected credit losses 291,940 0
Bad debts 4,078 0
Depreciation of property, plant and equipment 41,587 44,943
Dividend income (19,788) (19,322)
Fair value (gain)/loss on other investments (140,862) 63,202
Interest 4,212 3,785
Property, plant and equipment written off 18 0
Operating loss before working capital changes (139,241) (20,402)
Changes in operating assets and liabilities:    
Inventories (187,966) 9,717
Trade and other receivables 354,290 526,165
Deferred cost of revenue 0 67,606
Trade and other payables (111,108) (635,694)
Advance payment from customer (16,029) (30,307)
Deferred revenue 0 (77,276)
Operating lease liabilities (11,019) (11,182)
Tax recoverable (29,268) (62,435)
Net cash used in operating activities (140,341) (233,808)
Cash flows from investing activities:    
Acquisition of other investment (13,444) (404,793)
Dividend income 19,788 19,322
Purchase of plant and equipment (14,458) (33,484)
Net cash used in investing activities (8,114) (418,955)
Cash flows from financing activities:    
Interest (4,212) (3,785)
Repayment of finance lease 0 (34,038)
Shares subscriptions 0 150,000
Net cash (used in)/generated from financing activities (4,212) 112,177
Foreign currency translation adjustment (207,517) (243,002)
NET CHANGE IN CASH AND CASH EQUIVALENTS (360,184) (783,588)
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL YEAR 2,118,864 2,123,919
CASH AND CASH EQUIVALENTS, END OF FINANCIAL YEAR 1,758,680 1,340,331
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 1,461,596 849,744
Cash at bank 297,084 490,587
Cash and cash equivalents, end of financial year 1,758,680 1,340,331
Supplementary cash flow information:    
Interest paid (5,487) (5,645)
Income taxes paid $ (30,635) $ (73,547)