Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 175

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 175
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 2024 and 2023, lease liabilities
consist of the following:

                                               December 31,                                      
  Operating lease                              2024                           2023               
 ─────────────────────────────────────────────────────────────────────────────────────────────────
  Lease liabilities – current portion          $                 108,526      $         207,128  
  Lease liabilities – non-current portion                         10,231                118,979  
  Total                                        $                 118,757      $         326,107  

                                           December 31,                       
  Finance lease                            2024              2023             
  Lease liabilities – current portion      $                 $         6,446  
 ──────────────────────────────────────────────────────────────────────────────

The following is a schedule of future minimum
payments under operating leases as of December 31, 2024:

                                                          December 31,               
  Not later than 1 year                                   $                 111,321  
  Between 1 to 2 years                                                       10,300  
                                                                                  -  
  Total lease payments                                                      121,621  
  Less: imputed interest                                                    ( 2,864  
  Total operating lease liabilities, net of interest      $                 118,757  

Other lease information is as follows:

                                                         December 31,                                            
                                                         2024                              2023                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                           2.75 years                0.92 years  
  Weighted-average discount rate – operating leases                        5                         5           
  Short term lease cost                                  $                 234,767         $         114,937     

As of December 31, 2024 and
2023, there were $98,570and $283,847right of use (“ ROU”) assets and $118,757and $326,107lease liabilities based on the
present value of the future minimum rental payments of leases, respectively. The Company’s management believes that using an incremental
borrowing rate of the minimum loan rate and the Hong Kong Dollar Best Lending Rate (“ BLR”) minus0.125% was the
most indicative rate of the Company’s borrowing cost for the calculation of the present value of the lease payments; the rate used
by the Company was6.6% and5.5% respectively.

NOTE 12 - EQUITY

Ordinary shares

As at December 31, 2023
and December 31,