Company: JOCM
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011600
Chunk: 10

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 10
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 currency are translated into the functional currency at the exchange rates prevailing
at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated
into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded
in the statements of operations.

Translation
of amounts from RM into US$1 has been made at the following exchange rates for the respective periods:

SCHEDULE OF EXCHANGE RATES 

    As
                                            of and for the
                                                                                                                         three months
                                                                               ended March
                                            31, 2025  
    As
                                            of and for the
                                                                                                                              twelve months
                                                                                ended
                                            December
                                                                                31,
                                            2024 

    Period-end
    RM : US$1 exchange rate 
     4.433  
     4.476 
  
    Period-average
    RM : US$1 exchange rate 
     4.450  
     4.563 

Related
parties

Parties,
which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control
the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also
considered to be related if they are subject to common control or common significant influence.

    F-9

JOCOM
HOLDINGS CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

Fair
value of financial instruments:

The
carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued
liabilities approximate at their fair values because of the short-term nature of these financial instruments.

The
Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”),
with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy
that prioritizes the inputs used in measuring fair value as follows:

Level
1: Observable inputs such as quoted prices in active markets;

Level
2: Inputs, other than the quoted prices in active markets, that are observable either