Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 595

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 9B
Chunk 595
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) determining the transaction price, (4) allocating the transaction price to the separate performance obligations,
and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when
it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

The revenue generated was a service fee
paid by a client to carry out data analytic services in the Southeast Asia online grocery market.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and
represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original
maturity of three months or less as of the purchase date of such investments.

Intangible Asset

The Company follows the guidance according ASC Topic
350, “Testing Indefinite-Lived Intangible Assets for Impairment” paragraph 350-30-35-18, an intangible asset that is
not subject to amortization shall be tested for impairment annually. There is no legal, regulatory, contractual, competitive, economic,
or no foreseeable limit on the period of time over which it is expected to contribute to the cash flows of the Company, thus the useful
life of the asset shall be considered to be indefinite.

Plant and equipment

Plant and equipment are stated at cost less accumulated
depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected
useful lives from the date on which they become fully operational.

SCHEDULE OF USEFUL LIFE PROPERTY PLANT AND EQUIPMENT 

    Categories
     
    Estimated useful life
  
    Renovation
     
    2 years

Expenditures for maintenance and repairs are expensed
as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying
amount of the relevant assets and is recognized in the statement of operations

Income taxes

The provision of income taxes is determined in accordance
with the provisions of ASC Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities
are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing
assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates
expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. Any effect
on deferred tax assets and liabilities