Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 212

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 212
---
 balance due from shareholders consist of the following:

|                          |     | December 31, |    2023 |   |     |   |      2022 |   |
|:-------------------------|:----|:-------------|--------:|:--|:----|:--|----------:|:--|
| Due from shareholders    |     | $            | 372,103 |   |     | $ | 2,257,931 |   |
| Less: allowance          
 for expected credit loss |     |              | (17,818 | ) |     |   |   (17,059 | ) |
|                          |     | $            | 354,285 |   |     | $ | 2,240,872 |   |

F-33 NEWGENIVF LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Stated in US Dollars) NOTE 15 — RELATED PARTY BALANCES AND TRANSACTIONS (cont.)

The movement of allowances for expected credit loss is as follow:

|                      |     | December 31, 
 2023         |         |   |     | 2022 |         |   |
|:---------------------|:----|:-------------|:--------|:--|:----|:-----|:--------|:--|
| Balance at beginning 
 of the year          |     | $            | (17,059 | ) |     | $    | (6,312  | ) |
| Provision            |     |              | (759    | ) |     |      | (10,747 | ) |
| Ending               
 balance              |     | $            | (17,818 | ) |     | $    | (17,059 | ) |

In addition to the transactions and balances detailed elsewhere in these consolidated financial statements, the Company had the following transactions with related parties:

|                                 |     | December 31, |    2023 |   |     |   |    2022 |     |   |    2021 |
|:--------------------------------|:----|:-------------|--------:|:--|:----|:--|--------:|:----|:--|--------:|
| Directors’ remuneration         
 to Mr. Siu Wing Fung, Alfred    |     | $            | 125,000 |   |     |