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Consolidated Statement of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Loss before income tax $ (94,846,338) $ (2,383,812)
Adjustments for:    
- Impairment loss on receivable 44,271
- Depreciation of property, plant and equipment 1,501,809 1,661,403
- Amortisation of intangible assets 853,030 638,849
- Interest income (18,308) (4)
- Interest expense 388,717 246,359
- Loss/(gain) on disposal of property, plant and equipment 12,852 (26,586)
- Listing expense 93,067,324
- Foreign exchange adjustment 256,558 3,331
Total Adjustments 1,215,644 183,811
Changes in operating assets and liabilties :    
- Trade and other receivables (210,649) (384,221)
- Inventories 156,967 378,606
- Trade and other payables 1,368,648 1,791,714
- Prepaid forward purchase agreement 969
- Deferred underwriting fees payable 2,753,125
Net cash generated from operating activities 5,282,766 1,969,910
Cash flows from investing activities    
Purchase of property, plant and equipment (651,044) (502,677)
Proceeds from disposal of property, plant and equipment 2,130 29,592
Additions to intangible assets (1,388,583) (1,011,193)
Interest received 18,308 4
Net cash used in investing activities (2,019,189) (1,484,274)
Changes from financing cash flows:    
Proceeds from bank borrowings 3,596,071
Repayment of bank borrowings (3,775,481) (1,537,495)
Shares issuance 754,448 1,600,000
Settlement of Promissory Note (3,150,000)
Repayments of lease liabilities (185,536) (186,397)
Interest paid (388,717) (246,359)
Net cash used in financing activities (3,149,215) (370,251)
Net increase in cash and bank balances 114,362 115,385
Cash and cash equivalents    
Beginning of the financial year 252,399 137,014
End of the financial year 366,761 252,399
Beginning balance 8,055,976 8,497,789
Changes from financing cash flows:    
Repayment of bank loans (3,775,481) (1,537,495)
Principal element of lease payments (185,536) (186,397)
Borrowing cost paid (388,717) (246,359)
Total change from financing cash flows (753,663) (1,970,251)
Other changes:    
Exchange adjustments 246,025 (14,739)
Lease modification 8,230 1,296,818
Interest expenses 388,717 246,359
Total other changes 642,972 1,528,438
Proceeds from bank borrowings 3,596,071  
Ending balance 7,945,285 8,055,976
Lease liabilities [member]    
Adjustments for:    
- Interest expense 55,934 28,559
Cash and cash equivalents    
Beginning balance 2,257,335 1,150,764
Changes from financing cash flows:    
Repayment of bank loans
Principal element of lease payments (185,536) (186,397)
Borrowing cost paid (55,934) (28,558)
Total change from financing cash flows (241,470) (214,955)
Other changes:    
Exchange adjustments 86,777 (3,850)
Lease modification 8,230 1,296,818
Interest expenses 55,934 28,558
Total other changes 150,941 1,321,526
Proceeds from bank borrowings  
Ending balance 2,166,806 2,257,335
Long-term borrowings [member]    
Cash and cash equivalents    
Beginning balance 5,798,641 7,347,025
Changes from financing cash flows:    
Repayment of bank loans (3,775,481) (1,537,495)
Principal element of lease payments
Borrowing cost paid (332,783) (217,801)
Total change from financing cash flows (512,193) (1,755,296)
Other changes:    
Exchange adjustments 159,248 (10,889)
Lease modification
Interest expenses 332,783 217,801
Total other changes 492,031 206,912
Proceeds from bank borrowings 3,596,071  
Ending balance $ 5,778,479 $ 5,798,641