Intangible assets, net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 7 – Intangible assets, net

Intangible asset, net comprised of the following:

	December 31, 2023			December 31, 2022
At Cost:
Intellectual Property License		2,159,842
		2,159,842
Less: Accumulated amortization		(89,993	)
Total, net		2,069,849

Amortization expenses was $89,993with $500 as exchange rate difference and $nil for the years ended December 31, 2023 and 2022, respectively. There was no impairment loss was not recognized for the years ended December 31, 2023 and 2022, respectively.

The intellectual property license comprises of a five-year non-exclusive license to utilize certain intellectual property pertaining to wood panel manufacturing within China.