Prepayments, receivables and other assets

12 Months Ended

Dec. 31, 2023

Seamless Group Inc [Member]

Prepayments, receivables and other assets

5 Prepayments, receivables and other assets

	December 31,
	2023		2022
	US$		US$
Contract asset		6,888,954		4,657,799
Safeguarding assets		1,983,116		5,787,354
Other receivables		100,144		54,425
Prefunding to remittances partner		21,082,897		21,896,243
Deposits		1,402,729		1,438,316
Goods and services tax/ Value-added tax recoverable		26,493		13,842
Prepayments		553,258		503,123
Airtime stock		607,308		715,755
Inventory		125,603		162,227
Current tax recoverable		360,358		1,094,332
Others		1,094,379		1,240,134
		34,225,239		37,563,550

Inventory refers to resalable prepaid balance made to supplier on airtime, data package and phone cards.

Movement of contract assets are as follows:

	December 31,
	2023		2022
	US$		US$
As at January 1		4,657,799		4,189,989
Rights of consideration for service rendered but not billed		2,231,155		467,810
As at December 31		6,888,954		4,657,799

SEAMLESS GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS