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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE-24 SUBSEQUENT EVENTS 

In accordance with ASC Topic 855, “Subsequent Events", which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after December 31, 2022, up through March 22, 2023, the Company issued the consolidated financial statements.

On January 27, 2023, the company’s President and Chief Executive Officer was authorized to negotiate and enter a 10b-18 Plan with ThinkEquity LLC for a share repurchase program to repurchase up to $2,000,000 of the Company’s common stock in open market purchases. The share repurchase agreement was signed on January 30, 2023 and the repurchases program initiated since February 2023.

Society Pass’s subsidiary, Thoughtful Media Group Incorporated entered into a SPA on December 27, 2022 to acquire an Indonesia company under Digital Media business unit. However, this transaction is pending on legal transfer procedure.

On February 28, 2023, the Company acquired an additional 2,225,735 ordinary shares of Nusatrip International Pte. Ltd. At $0.27 per share, increasing its holdings of 100,000 shares to 2,325,735. As a result, the Company’s ownership of Nusatrip International Pte. Ltd. increased from 75% to 98.93%.