SEGMENTED INFORMATION

12 Months Ended

Dec. 31, 2024

SEGMENTED INFORMATION

SEGMENTED INFORMATION

NOTE 13 – SEGMENT INFORMATION

The Company determines it reportable segments based on its internal organization structure and internal management reporting used to assess and allocate resources. This information are regularly reviewed by the Company’s Chief Executive Officer who is identified as the Chief Operating Decision Maker (“CODM”). The Company consists of three operating units, BioNexus Gene Lab Corp., MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd. which are determined as three reportable segments, as described below. These reportable segments offer different products and services, and are managed separately because they require different technology and marketing strategies. The following describes the operations in each of the Company’s reportable segments:

·	Trading of industrial chemicals	-	Includes trading of industrial chemicals
·	Provision for genomic screening services	-	includes in commercializing proprietary blood-based diagnostic test for early disease detection
·	Investment holding	-	Investment holding

The CODM evaluates the performance of each reportable segment based on operating income and key segment-specific metrics. There are no inter-segment revenue transactions between reportable segments. Except for investment holding activities and the revenue to the overseas customers as disclosed in Note 9, the Company’s revenue and principal operations are substantially confined within Malaysia.

Pursuant to ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, the financial information concerning the Company’s reportable segments is shown as below:

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Year ended December 31, 2023
REVENUE	$	24,219		$	9,746,587		$	-		$	9,770,806
COST OF REVENUE		(19,851	)		(8,421,457	)		-			(8,441,308	)
GROSS PROFIT		4,368			1,325,130			-			1,329,498
OTHER INCOME		19,629			466,407			-			486,036
OPERATING EXPENSES
Sales and marketing		(18,884	)		(569,896	)		(8,078	)		(596,858	)
Research and development		(54,982	)		-			-			(54,982	)
General and administrative		(171,881	)		(134,678	)		(2,136,296	)		(2,442,855	)
Provision for expected credit losses		-			(1,314,427	)		-			(1,314,427	)
TOTAL OPERATING EXPENSES		(245,747	)		(2,019,001	)		(2,144,374	)		(4,409,122	)
LOSS FROM OPERATIONS		(221,750	)		(227,464	)		(2,144,374	)		(2,593,588	)
FINANCE COSTS		(5,052	)		(8,877	)		-			(13,929	)
LOSS BEFORE TAX		(226,802	)		(236,341	)		(2,144,374	)		(2,607,517	)
Deferred tax		12,269			5,090			-			17,359
Income tax		(2,613	)		(36,272	)		-			(38,885	)
Total tax (expense)/credit		9,656			(31,182	)		-			(21,526	)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(217,146	)	$	(267,523	)	$	(2,144,374	)	$	(2,629,043	)

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Year ended December 31, 2024
REVENUE	$	16,069		$	9,494,577		$	-		$	9,510,646
COST OF REVENUE		(7,316	)		(8,213,809	)		-			(8,221,125	)
GROSS PROFIT		8,753			1,280,768			-			1,289,521
OTHER INCOME		122,951			1,949,522			-			2,072,473
OPERATING EXPENSES
Sales and marketing		(125,299	)		(1,861,456	)		(43,929	)		(2,030,684	)
Research and development		(47,511	)		-			-			(47,511	)
General and administrative		(194,038	)		(679,321	)		(1,100,609	)		(1,973,968	)
Provision for expected credit losses		-			(883,533	)		-			(883,533	)
TOTAL OPERATING EXPENSES		(366,848	)		(3,424,310	)		(1,144,538	)		(4,935,696	)
LOSS FROM OPERATIONS		(235,144	)		(194,020	)		(1,144,538	)		(1,573,702	)
FINANCE COSTS		(11,795	)		(9,072	)		(279	)		(21,146	)
LOSS BEFORE TAX		(246,939	)		(203,092	)		(1,144,817	)		(1,594,848	)
Tax expense:
Deferred tax		-			12,305			-			12,305
Income tax		-			(15,799	)		-			(15,799	)
Tax expense		-			(3,494	)		-			(3,494	)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(246,939	)	$	(206,586	)	$	(1,144,817	)	$	(1,598,342	)

	Provision for genomic screening services		Trading of industrial chemicals		Investment holding		Total
	Year ended December 31, 2023
Segment assets	$	2,522,321	$	6,676,344	$	2,201,128	$	11,399,793
Included in the measure of segment assets are:
Addition to non-current assets other than financial instruments and deferred tax assets		247,192		15,486		-		262,678

	Provision for genomic screening services		Trading of industrial chemicals		Investment holding		Total
	Year ended December 31, 2024
Segment assets	$	2,652,754	$	6,788,302	$	992,792	$	10,433,848
Included in the measure of segment assets are:
Addition to non-current assets other than financial instruments and deferred tax assets		150,881		221,844		-		372,725

The Company had no inter-segment sales for the years presented.