Amount Due from/to Related Parties

12 Months Ended

Dec. 31, 2023

Amount Due from/to Related Parties [Abstract]

AMOUNT DUE FROM/TO RELATED PARTIES

25 AMOUNT DUE FROM/TO RELATED PARTIES

Related parties represent associated companies, shareholders, directors and key management personnel of the Group, and entities controlled, jointly controlled or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Group’s management.

25.1 Related party balances

Due from related parties:

	2023		2022
	USD		USD
(a) Affiliated companies:
Du – UAE		69,517		32,234
Mobily – KSA		203,962		207,028
		273,479		239,262
(b) Due from related parties
Maher Khawkhaji (General manager of Spotlight Recreational Services LLC)		73,482		-
		346,961		239,262

Due to shareholders and related parties:

	2023		2022
	USD		USD
(a) Due to shareholders
Edgard Maroun		606,816		232,429
Elias Habib		490,681		162,354
MBC FZ LLC		-		1,941,289
Maher Khawkhaji (General manager of Spotlight Recreational Services LLC)		-		100,236
		1,097,497		2,436,308

The above balances are interest free and have no fixed repayment terms.

(b) Convertible notes: Convertible notes from MEVP, Alkonost Investment Ltd., SHUAA and SRMG are disclosed in note 27 to the consolidated financial statements.

(c) Working capital loans: Working capital loans from MEVP and SHUAA are disclosed in note 27 to the consolidated financial statements.

25.2 Related party transactions

Significant transactions with related parties included in the consolidated statement of comprehensive income are as follows:

	2023			2022
	USD			USD
Share Based payment to service provider		(2,850,000	)		-
Advertising expenses		(908,711	)		(591,289	)
Shares issued to Board of Directors		(195,000	)		-
Interest on convertible loans (note 27)		(137,500	)		(322,748	)
Interest on working capital loans (note 27)		-			(88,757	)
Revenues from Du and Mobily		1,059,795			1,248,248
Fees paid to Du and Mobily (cost of revenue)		(244,898	)		(305,394	)

Du and Mobily utilize their network to facilitate subscription payments for the Group’s users.

25.3 Compensation of key management personnel of the Group

	2023		2022
	USD		USD
Short term employee benefits		1,377,454		1,926,641
Post-employment pension and medical benefits		47,007		34,535
Termination benefits		15,665		48,747
Share-based payment transactions		87,209		109,800
Total compensation of key management personnel of the Group		1,527,335		2,119,723