SEGMENT REPORTING

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

17. SEGMENT REPORTING

ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. The Company has single reportable segment based on business unit, information technology business and two reportable segments based on country, Malaysia and Non-Malaysia.

In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes.

	For the Six Months Ended and As of June 30, 2024
By Business Unit	Information Technology Business			Total
Revenue	$	1,062,228		$	1,062,228
Cost of revenue		(100,425	)		(100,425	)
Gross profit	$	961,803		$	961,803
Share of loss from operation of associate		(25,087	)		(25,087	)
Selling, general and administrative expenses and other income		(1,503,268	)		(1,503,268	)
Loss from operations		(566,552	)		(566,552	)
Total assets	$	3,270,659		$	3,270,659
Capital expenditure	$	93,238		$	93,238

	For the Six Months Ended and As of June 30, 2024
By Country	Malaysia			Non-Malaysia			Total
Revenue	$	1,062,228		$	-		$	1,062,228
Cost of revenue		(100,425	)		-			(100,425	)
Gross profit	$	961,803		$	-		$	961,803
Share of loss from operation of associate		(25,087	)		-			(25,087	)
Selling, general and administrative expenses and other income		(1,409,283	)		(93,985	)		(1,503,268	)
Loss from operations		(472,567	)		(93,985	)		(566,552	)
Total assets	$	3,241,778		$	28,881		$	3,270,659
Capital expenditure	$	93,238		$	-		$	93,238

	For the Six Months Ended and As of June 30, 2023
By Business Unit	Information Technology Business			Total
Revenue	$	1,118,281		$	1,118,281
Cost of revenue		(114,400	)		(114,400	)
Gross profit	$	1,003,881		$	1,003,881
Selling, general and administrative expenses and other income		(1,377,510	)		(1,377,510	)
Loss from operations		(373,629	)		(373,629	)
Total assets	$	2,906,046		$	2,906,046
Capital expenditure	$	17,141		$	17,141

	For the Six Months Ended and As of June 30, 2023
By Country	Malaysia			Non-Malaysia			Total
Revenue	$	1,118,281		$	-		$	1,118,281
Cost of revenue		(114,400	)		-			(114,400	)
Gross profit	$	1,003,881		$	-		$	1,003,881
Selling, general and administrative expenses and other income		(1,210,762	)		(166,748	)		(1,377,510	)
Loss from operations		(206,881	)		(166,748	)		(373,629	)
Total assets	$	2,215,465		$	690,581		$	2,906,046
Capital expenditure	$	17,141		$	-		$	17,141