Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 184

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 184
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)                 $                  ( 61,802      $     
  JAK & affiliated holders                              5% or more shareholder                                     3,150,000            

Note:

  (1)      Ms. Fong is the spouse of Mr. Siu. The due to shareholders balance                                                   
           as of December 31, 2024 was $ 92,651 while the due from shareholders balance as of December 31, 2023 was $ 354,285.  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  (2)      The directors and shareholders of Harcourt Limited are Mr. Siu and Ms. Fong, Harcourt Limited therefore has the common ultimate beneficial owners with the Company.  

F-28

The balance due from shareholders consist of the
following:

                                                 December 31,                                         
                                                 2024                             2023                
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Due from/ (to)shareholders/ related party      $                 ( 154,453      $          372,103  
  Less: allowance for expected credit loss                         —                        ( 17,818  
                                                 $                 ( 154,453      $          354,285  

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

                                           December 31,                                        
                                           2024                            2023                
  Balance at beginning of the year         $                 ( 17,818      $         ( 17,059  
 ───────────────────────────────────────────────────────────────────────────────────────────────
  Reversal of Provision / (Provision)                        17,818                     ( 759  
  Ending balance                           $                 —             $         ( 17,818  

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,                                                                
                                                                     2024                             2023                    2022               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Directors’ remuneration to Mr. Siu Wing Fung, Alfred               $                   190,000      $         125,000       $         120,000  
  Directors’ remuneration to Ms. Fong Hei Yue, Tina                                      190,000                125,000                 120,000  
  Wa