CONCENTRATION OF RISK

6 Months Ended

Jun. 30, 2024

Risks and Uncertainties [Abstract]

CONCENTRATION OF RISK

13. CONCENTRATION OF RISK

(a) Major Customers

For the three months ended June 30, 2024, the Company generated total revenue of $542,475, of which no customer accounted for more than 10% of the Company’s total revenue. For the three months ended June 30, 2023, the Company generated total revenue of $643,479, of which one customer accounted for more than 10% of the Company’s total revenue. The customers who accounted for more than 10% of the Company’s total revenue and its outstanding receivable balance at period-end is presented below:

	For the three months ended June 30
	2024		2023		2024			2023			2024		2023
	Revenue				Percentage of Revenue						Accounts receivable, gross
Customer E		-		67,064		-	%		10	%		-		67,064
Others		542,475		576,415		100	%		90	%		618,736		76,527
Total	$	542,475	$	643,479		100	%		100	%	$	618,736	$	143,591

For the six months ended June 30, 2024, the Company generated total revenue of $1,062,228, of which no customer accounted for more than 10% of the Company’s total revenue. For the six months ended June 30, 2023, the Company generated total revenue of $1,118,281, of which no customer accounted for more than 10% of the Company’s total revenue.

(b) Major Suppliers

For the three months ended June 30, 2024, the Company incurred cost of revenue of $66,591, of which two suppliers accounted for more than 10% of the Company’s cost of revenue. For the three months ended June 30, 2023, the Company incurred cost of revenue of $60,738, of which two suppliers accounted for more than 10% of the Company’s cost of revenue. The suppliers who accounted for more than 10% of the Company’s cost of revenue and its outstanding payable balance at period-end is presented below:

	For the three months ended June 30
	2024		2023		2024			2023			2024		2023
	Cost of revenue				Percentage of Cost of revenue						Accounts payable, trade
Supplier A	$	38,202	$	46,018		57	%		76	%	$	18,939	$	19,139
Supplier B		22,412		9,362		34	%		15	%		32,518		10,580
Others		5,977		5,358		9	%		9	%		5,898		10,710
Total	$	66,591	$	60,738		100	%		100	%	$	57,355	$	40,429

For the six months ended June 30, 2024, the Company incurred cost of revenue of $100,425, of which two suppliers accounted for more than 10% of the Company’s cost of revenue. For the three months ended June 30, 2023, the Company incurred cost of revenue of $114,400, of which two suppliers accounted for more than 10% of the Company’s cost of revenue. The suppliers who accounted for more than 10% of the Company’s cost of revenue and its outstanding payable balance at period-end is presented below:

	For the six months ended June 30
	2024		2023		2024			2023			2024		2023
	Cost of revenue				Percentage of Cost of revenue						Accounts payable, trade
Supplier A	$	65,436	$	69,895		65	%		61	%	$	18,939	$	19,139
Supplier B		22,783		22,783		23	%		20	%		32,518		10,580
Others		12,206		21,722		12	%		19	%		5,898		10,710
Total	$	100,425	$	114,400		100	%		100	%	$	57,355	$	40,429

Our Chief Executive Officer, Mr. Wong Kai Cheong is a majority shareholder of Supplier A.