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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net profit/(loss) $ 95,347 $ (328,317)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of right of use asset 20,700 7,891
Allowances for expected credit losses 120,370 291,940
Recovered for expected credit losses (584,415) 0
Bad debts 0 4,078
Property, plant and equipment written off 0 18
Depreciation of property, plant and equipment 40,343 41,587
Dividend income (20,827) (19,788)
Fair value gain on other investments (72,884) (140,862)
Loss arising from settlement of supplier contract dispute 28,554 0
Gain on disposal of other investments (14,298) 0
Interest 4,545 4,212
Operating loss before working capital changes (382,565) (139,241)
Changes in operating assets and liabilities:    
Inventories 104,767 (187,966)
Trade and other receivables (2,641) 354,290
Trade and other payables (458,424) (111,108)
Advance payment from customer 5,937 (16,029)
Operating lease liabilities (22,266) (11,019)
Tax recoverable 50,210 (29,268)
Net cash used in operating activities (704,982) (140,341)
Cash flows from investing activities:    
Acquisition of other investment (264,768) (13,444)
Dividend income 20,827 19,788
Purchase of plant and equipment (23,778) (14,458)
Proceeds from disposal of other investments 297,678 0
Proceeds from settlement of supplier contract dispute 77,201 0
Net cash generated from/(used in) investing activities 107,160 (8,114)
Cash flows from financing activities:    
Interest (4,545) (4,212)
Advances from Directors 202,344 0
Net cash generated from/(used in) financing activities 197,799 (4,212)
Foreign currency translation adjustment (115,280) (207,517)
NET CHANGE IN CASH AND CASH EQUIVALENTS (515,303) (360,184)
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL PERIOD 5,929,336 2,118,864
CASH AND CASH EQUIVALENTS, END OF FINANCIAL PERIOD 5,414,033 1,758,680
CASH AND CASH EQUIVALENTS INFORMATION:    
Fixed deposits placed with financial institutions 3,214,186 1,461,596
Cash at bank 2,199,847 297,084
Supplementary cash flow information:    
Interest paid (9,141) (5,487)
Income tax paid $ (26,772) $ (30,635)