BioNexus Gene Lab (BGLC) S-1/A 3 Jul 23 IPO registration (amended) Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2023
Cover [Abstract]
Entity Registrant Name	BIONEXUS GENE LAB CORP.
Entity Central Index Key	0001737523
Document Type	S-1/A
Amendment Flag	true
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	false
Entity Incorporation State Country Code	WY
Entity Tax Identification Number	35-2604830
Entity Address Address Line 1	Unit 02, Level 10, Tower B, Vertical Business Suite
Entity Address Address Line 2	Bangsar South
Entity Address Address Line 3	8 Jalan Kerinchi
Entity Address City Or Town	Kuala Lumpur
Entity Address Postal Zip Code	59200
City Area Code	60
Amendment Description	THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(A) OF THE SECURITIES ACT OF 1933, OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO SECTION 8(A), MAY DETERMINE.
Local Phone Number	1221-26512

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and bank balances	$ 406,787	$ 611,849	$ 578,511
ASSETS
Fixed deposits placed with financial institutions	1,566,425	1,507,015	1,545,408
Trade receivables	2,528,746	2,868,364	3,356,898
Other receivables, deposits and prepayments	29,346	25,240	79,517
Tax recoverable	27,823	31,551	0
Inventories	899,636	977,807	1,521,915
Total current assets	5,458,763	6,021,826	7,149,855
NON-CURRENT ASSETS
Deferred cost of revenue		0	67,606
Operating lease right of use assets	51,436	55,730	41,090
Property, plant and equipment, net	1,481,767	1,511,708	1,634,418
Other investments	1,194,675	1,150,898	749,027
Total non-current assets	2,727,878	2,718,336	2,424,535
TOTAL ASSETS	8,186,641	8,740,162	9,574,390
CURRENT LIABILITIES
Trade payables	1,493,774	1,861,015	2,012,266
Other payables and accrued liabilities	37,550	103,370	71,814
Current portion of operating lease liabilities	16,733	16,569	18,272
Advance payment from customer	15,322	23,123	30,307
Current portion of obligation under finance lease		0	21,235
Tax payables		0	97,585
Deferred revenue		0	77,276
Total current liabilities	1,563,379	2,004,077	2,328,755
NON-CURRENT LIABILITIES
Deferred tax liabilities	30,678	30,866	28,416
Non-current portion of obligation under finance lease		0	12,803
Non-current portion of operating lease liabilities	35,676	40,206	24,637
Total non-current liabilities	66,354	71,072	65,856
TOTAL LIABILITIES	1,629,733	2,075,149	2,394,611
STOCKHOLDERS' EQUITY
Common stock value	10,929,574	10,929,574	10,779,574
Additional paid in capital	(5,011,891)	(5,011,891)	(5,011,891)
Accumulated surplus	1,087,326	1,156,392	1,512,358
Accumulated other comprehensive losses	(448,101)	(409,062)	(100,262)
TOTAL STOCKHOLDERS' EQUITY	6,556,908	6,665,013	7,179,779
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 8,186,641	$ 8,740,162	$ 9,574,390

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value per share	$ 0	$ 0	$ 0
Common stock, shares authorized	300,000,000	300,000,000	300,000,000
Common stock, shares outstanding	173,718,152	173,718,152	171,218,152
Preferred stock, par value per share	$ 0	$ 0	$ 0
Preferred stock, shares authorized	30,000,000	30,000,000	30,000,000
Preferred stock, shares outstanding	0	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
REVENUE	$ 2,377,205	$ 3,028,945	$ 10,928,707	$ 13,362,567
COST OF REVENUE	(2,008,308)	(2,672,612)	(9,669,678)	(11,095,626)
GROSS PROFIT	368,897	356,333	1,259,029	2,266,941
OTHER INCOME	117,344	46,394	179,283	66,491
OPERATING EXPENSES
General and administrative	(536,872)	(368,036)	(1,729,489)	(1,277,605)
(LOSS)/PROFIT FROM OPERATIONS	(50,631)	34,691	(291,177)	1,055,827
FINANCE COSTS	2,445	3,326	12,479	12,973
(LOSS)/PROFIT BEFORE TAX	(53,076)	31,365	(303,656)	1,042,854
Tax expense:
Deferred tax			(3,898)	(26,736)
Income tax			(48,412)	(264,547)
Tax expense	15,990	14,299	(52,310)	(291,283)
NET (LOSS)/PROFIT	(69,066)	17,066	(355,966)	751,571
Other comprehensive income:
Foreign currency translation loss	(39,039)	(68,776)	(308,800)	(233,946)
COMPREHENSIVE LOSS	$ (108,105)	$ (51,710)	$ (664,766)	$ 517,625
Earnings per share - Basic and diluted	$ (0.001)	$ 0	$ (0.002)	$ 0.004
Weighted average number of common shares outstanding - Basic and diluted	173,718,152	171,218,152	172,916,782	171,218,152

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (Unaudited) - USD ($)	Total	Common Stock	Additional Paid In Capital	Accumulated Surplus	Accumulated Other Comprehensive Income/(Loss)
Balance, shares at Dec. 31, 2020		171,218,152
Balance, amount at Dec. 31, 2020	$ 6,662,154	$ 10,779,574	$ (5,011,891)	$ 760,787	$ 133,684
Net profit for the year	751,571	0	0	751,571	0
Foreign currency translation loss	(233,946)	$ 0	0	0	(233,946)
Balance, shares at Dec. 31, 2021		171,218,152
Balance, amount at Dec. 31, 2021	7,179,779	$ 10,779,574	(5,011,891)	1,512,358	(100,262)
Net profit for the year	17,066			17,066
Foreign currency translation loss	(68,776)				(68,776)
Balance, shares at Mar. 31, 2022		171,218,152
Balance, amount at Mar. 31, 2022	7,128,069	$ 10,779,574	(5,011,891)	1,529,424	(169,038)
Balance, shares at Dec. 31, 2021		171,218,152
Balance, amount at Dec. 31, 2021	7,179,779	$ 10,779,574	(5,011,891)	1,512,358	(100,262)
Net profit for the year	(355,966)	0	0	(355,966)	0
Foreign currency translation loss	(308,800)	0	0	0	(308,800)
Issuance of shares, amount	150,000	$ 150,000
Issuance of shares, shares		2,500,000
Balance, shares at Dec. 31, 2022		173,718,152
Balance, amount at Dec. 31, 2022	6,665,013	$ 10,929,574	(5,011,891)	1,156,392	(409,062)
Net profit for the year	(69,066)			(69,066)
Foreign currency translation loss	(39,039)				(39,039)
Balance, shares at Mar. 31, 2023		173,718,152
Balance, amount at Mar. 31, 2023	$ 6,556,908	$ 10,779,574	$ (5,011,891)	$ 1,087,326	$ (448,101)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss)/profit	$ (69,066)	$ 17,066	$ (355,966)	$ 751,571
Adjustments to reconcile net profit to net cash (used in)/generated from operating activities:
Depreciation of property, plant and equipment	20,897	22,307	91,427	91,282
Amortization of right of use asset	3,972	4,341	13,992	16,933
Bad debts			4,165	3,809
Gain on disposal of other investments	4
Operating (loss)/profit before working capital changes	(90,292)	40,263	(289,357)	871,409
Dividend income	(8,692)	(7,230)	(115,379)	(22,036)
Fair value gain on other investments	(37,399)	3,779	70,628	29,850
Deferred cost of revenue	0	67,606	67,606	(67,606)
Inventories	(78,171)	126,988	544,108	(345,745)
Loss on written off of other investments			1,776	0
Changes in operating assets and liabilities:
Trade and other payables	(433,061)	(208,629)	(119,695)	(1,180,535)
Advance payment from customer	(7,801)	(30,200)	(7,184)	30,307
Trade and other receivables	335,512	330,316	538,646	579,217
Deferred revenue	0	(77,276)	(77,276)	77,276
Operating lease liabilities	(4,366)	(5,007)	(126,686)	(20,169)
Tax recoverable	3,540	(27,924)	13,866	65,007
Net cash used in operating activities	(118,297)	(37,839)	544,028	9,161
Cash flows from investing activities:
Acquisition of other investment	(13,646)	(172,172)	(511,706)	(515,840)
Dividend income	8,692	7,230	115,379	22,036
Purchase of plant and equipment	(102)	(32,191)	(54,171)	(3,162)
Proceeds from disposal of other investments			0	6,392
Net cash used in investing activities	(5,056)	(197,133)	(450,498)	(490,574)
Cash flows from financing activities:
Repayment of finance lease			(34,038)	(26,302)
Repayments to directors			0	(1,920)
Shares subscriptions			150,000	0
Net cash generated from /(used in) financing activities			115,962	(28,222)
Foreign currency translation adjustment	(22,299)	(44,625)	(214,547)	(154,138)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(145,652)	(279,597)	(5,055)	(663,773)
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL YEAR	2,118,864	2,123,919	2,123,919	2,787,692
CASH AND CASH EQUIVALENTS, END OF FINANCIAL YEAR	1,973,212	1,844,322	2,118,864	2,123,919
Supplementary cash flow information:
Interest paid	(2,445)	(3,326)	(12,479)	(12,973)
Income taxes paid	(12,438)	(41,946)	(170,447)	(226,770)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(145,652)	(279,597)	(5,055)	(663,773)
CASH AND CASH EQUIVALENTS INFORMATION:
Cash and bank balances	406,787	606,850	611,849	578,511
Fixed deposits placed with financial institutions	$ 1,566,425	$ 1,237,472	$ 1,507,015	$ 1,545,408

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
ORGANIZATION AND BUSINESS BACKGROUND
ORGANIZATION AND BUSINESS BACKGROUND	NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND BioNexus Gene Lab Corp. (the “Company”) was incorporated in the State of Wyoming on May 12, 2017. On August 23, 2017, the Company acquired all the outstanding capital stock of BGS Lab Sdn. Bhd., a Malaysian corporation (“BioNexus Malaysia”). BioNexus Malaysia was incorporated in Malaysia on April 7, 2015 which it then subsequently changed its name to Bionexus Gene Lab Sdn. Bhd. The principal office address is Unit 02 Level 10, Tower B, Vertical Business Suite, No. 8 Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia, our lab is located at Lab 353, Chemical Science Centre, University Science Malaysia, George Town, Penang, Malaysia. We also have a blood collection center located at 1st floor, Lifecare Medical Centre, Kuala Lumpur, Malaysia. On December 31, 2020, the Company consummated its acquisition of Chemrex Corporation Sdn. Bhd. (“Chemrex”), pursuant to a Share Exchange Agreement by and among the Company, Chemrex and the Chemrex shareholders wherein the Company acquired all the issued and outstanding shares of capital stock of Chemrex from the Chemrex shareholders in exchange for 68,487,261 shares of common stock of the Company. The acquisition of Chemrex has been accounted for as a common control transaction as there is no change in the control over the assets acquired and liabilities assumed. The net assets are derecognized by the transferring entity (i.e. Chemrex) and recognized by the receiving entity (i.e. the Company). The difference between the consideration transferred and the carrying amounts of the net assets is recognized in equity. The financial statements of the receiving entity report the results of operations for the period in which the transfer occurs as though the transfer of net assets or exchange of equity interests had occurred at the beginning of the period. Results of operations for that period will thus comprise those of the previously separate entities combined from the beginning of the period to the date the transfer is completed and those of the combined operations from that date to the end of the period. The comparative financial statements were not adjusted retrospectively as Chemrex was not under common control during the comparative period. The corporate structure as at March 31, 2023 is depicted below: BioNexus Gene Lab Corp. a Wyoming company 100% owned 100% owned Bionexus Gene Lab Sdn. Bhd., a Malaysian company Chemrex Corporation Sdn. Bhd., a Malaysian Company	NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND BioNexus Gene Lab Corp. was incorporated in the State of Wyoming on May 12, 2017. On August 23, 2017, the Company acquired all the outstanding capital stock of BGS Lab Sdn. Bhd., a Malaysian corporation (“BioNexus Malaysia”). BioNexus Malaysia was incorporated in Malaysia on April 7, 2015 which it then subsequently changed its name to Bionexus Gene Lab Sdn. Bhd. The principal office address is Unit 02 Level 10, Tower B, Vertical Business Suite, No. 8 Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia, our lab is located at Lab 353, Chemical Science Centre, University Science Malaysia, George Town, Penang, Malaysia. We also have a blood collection center located at 1st floor, Lifecare Medical Centre, Kuala Lumpur, Malaysia. On December 31, 2020, the Company consummated its acquisition of Chemrex Corporation Sdn. Bhd. (“Chemrex”), pursuant to a Share Exchange Agreement by and among the Company, Chemrex and the Chemrex shareholders wherein the Company acquired all the issued and outstanding shares of capital stock of Chemrex from the Chemrex shareholders in exchange for 68,487,261 shares of common stock of BioNexus. The acquisition of Chemrex has been accounted for as a common control transaction as there is no change in the control over the assets acquired and liabilities assumed. The net assets are derecognized by the transferring entity (i.e. Chemrex) and recognized by the receiving entity (i.e. the Company). The difference between the consideration transferred and the carrying amounts of the net assets is recognized in equity. The financial statements of the receiving entity report the results of operations for the period in which the transfer occurs as though the transfer of net assets or exchange of equity interests had occurred at the beginning of the period. Results of operations for that period will thus comprise those of the previously separate entities combined from the beginning of the period to the date the transfer is completed and those of the combined operations from that date to the end of the period. The comparative financial statements were not adjusted retrospectively as Chemrex was not under common control during the comparative period. On April 12, 2022, the Company entered into Sales & Purchase Agreement with Keith Wong pursuant to which the Company agreed to the sales of 2,500,000 shares of its common stock at $0.06/share. The issuance was exempt under Section 4(a)(2) of the Securities Act as the recipient was a sophisticated investor, the shares were restricted securities and he represented that he is acquiring the shares for investment purposes. The corporate structure as at December 31, 2022 is depicted below: BioNexus Gene Lab Corp. a Wyoming company 100% owned 100% owned Bionexus Gene Lab Sdn. Bhd., a Malaysian company Chemrex Corporation Sdn. Bhd., a Malaysian Company

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. · Basis of presentation The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). · Basis of consolidation The condensed consolidated financial statements include the accounts of Bionexus Gene Lab Corp. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. · Use of estimates In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates. · Cash and cash equivalents Cash and cash equivalents 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. · Trade receivables Trade receivables are recorded at the invoiced amount and do not bear interest. Management reviews the adequacy of the allowance for impairment on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to adjust in the allowance when it is considered necessary. Trade balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. · Inventories Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Statement of Operations and Comprehensive Income. · Leases Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. · Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis to write off the cost over the following expected useful lives of the assets concerned. The principal annual rates used are as follows: Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 % Leasehold lands are depreciated over the period of lease term. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Company will obtain ownership by the end of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not depreciated until the assets are ready for their intended use. Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized. When properties are disposed, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is reported in the period the transaction takes place. Fully depreciated plant and equipment are retained in the financial statements until they are no longer in use. · Impairment of long-lived assets Long-lived assets primarily include goodwill, intangible assets and property, plant and equipment. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as a significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented. · Revenue recognition Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company records revenue at point in time which is recognized upon goods delivered or services rendered. · Shipping and handling fees Shipping and handling fees, if billed to customers, are included in revenue. Shipping and handling fees associated with inbound and outbound freight are expensed as incurred and included in selling and distribution expenses. · Comprehensive income ASC Topic 220, “ Comprehensive Income · Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company conducts major businesses in Malaysia and is subject to tax in their own jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities. · Net earnings or loss per share The Company calculates net earnings or loss per share in accordance with ASC Topic 260 “Earnings per share” · Foreign currencies translation Transactions denominated in currencies other than the functional 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 statement of operations. The functional currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the subsidiaries maintain its books and record in a local currency, Malaysian Ringgit (“MYR” or “RM”), which is functional currency as being the primary currency of the economic environment in which the subsidiaries operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement” Translation of amounts from MYR into US$1.00 has been made at the following exchange rates for the respective period and year: March 31, December 31, December 31, 2023 2022 2021 Period ended March 31, 2023 /Year-ended December 31, 2022 and 2021 US$1: MYR exchange rate 4.4170 4.3900 4.1650 January 1, 2023 to March 31, January 1, 2022 to March 31, January 1, 2022 to December 31, 2023 2022 2022 3 months average 2023/2022 and Yearly average 2022 US$1: MYR exchange rate 4.3968 4.1938 4.3996 · 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. · Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, trade receivable, deposits and other receivables, amount due to related parties and other payables 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 · Level 1 · Level 2 · Level 3 As of March 31, 2023, and December 31, 2022, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis. · Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. ☐ Basis of presentation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). ☐ Basis of consolidation The consolidated financial statements include the accounts of Bionexus Gene Lab Corp. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. ☐ Use of estimates In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates. ☐ Cash and cash equivalents Cash and cash equivalents 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. ☐ Trade receivables Trade receivables are recorded at the invoiced amount and do not bear interest. Management reviews the adequacy of the allowance for impairment on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to adjust in the allowance when it is considered necessary. Trade balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. ☐ Inventories Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Statement of Operations and Comprehensive Income. ☐ Leases Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. ☐ Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis to write off the cost over the following expected useful lives of the assets concerned. The principal annual rates used are as follows: Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 % Leasehold lands are depreciated over the period of lease term. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Company will obtain ownership by the end of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not depreciated until the assets are ready for their intended use Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized. When properties are disposed of, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is reported in the period the transaction takes place. Fully depreciated plant and equipment are retained in the financial statements until they are no longer in use. ☐ Impairment of long-lived assets Long-lived assets primarily include goodwill, intangible assets and property, plant and equipment. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as a significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented. ☐ Revenue recognition Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company records revenue at point in time which is recognized upon goods delivered or services rendered. ☐ Shipping and handling fees Shipping and handling fees, if billed to customers, are included in revenue. Shipping ang handling fees associated with inbound and outbound freight are expensed as incurred and included in selling and distribution expenses. ☐ Comprehensive income ASC Topic 220, “Comprehensive Income” establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statements of stockholders’ equity consists of changes in unrealized gains and losses on foreign currency translation and cumulative net change in the fair value of available-for-sale investments held at the balance sheet date. This comprehensive income is not included in the computation of income tax expense or benefit. ☐ Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 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 years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company conducts major businesses in Malaysia and is subject to tax in their own jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities. ☐ Net earnings or loss per share The Company calculates net earnings or loss per share in accordance with ASC Topic 260 “Earnings per share”. Basic earnings or loss per share is computed by dividing the net earnings or loss by the weighted average number of common shares outstanding during the period. Diluted earnings or loss per share is computed similar to basic earnings or loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. ☐ Foreign currencies translation Transactions denominated in currencies other than the functional 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 statement of operations. The functional currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$ as being the primary currency of the economic environment in which the Company operates. The functional currency of the subsidiaries is Malaysian Ringgit (“MYR”) as being the primary currency of the economic environment in which the subsidiaries operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income. Translation of amounts from MYR into US$1.00 has been made at the following exchange rates for the respective years: December 31, 2022 December 31, 2021 Year-end US$1.00: MYR exchange rate 4.3900 4.1650 January 1, 2022 to December 31, 2022 January 1, 2021 to December 31, 2021 Yearly average US$1.00: MYR exchange rate 4.3996 4.1456 ☐ Related parties Parties, which can be a corporation or individual, are 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. ☐ Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, trade receivable, deposits and other receivables, amount due to related parties and other payables 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 directly or indirectly; and · Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions As of December 31, 2022, and December 31, 2021, the Company did not have any non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis. ☐ Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.

TRADE RECEIVABLES

TRADE RECEIVABLES	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
TRADE RECEIVABLES
TRADE RECEIVABLES	NOTE 3 - TRADE RECEIVABLES The Company has performed an analysis on all its trade receivables and determined that all amounts are collectible by the Company. As such, trade receivables are reflected as a current asset and no allowance for impairment has been recorded as of March 31, 2023, December, 31, 2022 and 2021. Total of $12,600 and $3,809 of bad debts were written off for the year ended December 31, 2022 and December 31, 2021, respectively. The Company’s trade receivables consist of receivable from customers which are unrelated to the Company. The account receivables are non-interest bearing and is generally on 30 days to 90 days term.	NOTE 3 – TRADE RECEIVABLES The Company has performed an analysis on all its trade receivables and determined that all amounts are collectible by the Company. As such, trade receivables are reflected as a current asset and no allowance for impairment has been recorded as of December 31, 2022 and December 31, 2021. Total of $12,600 and $3,809 of bad debts were written off for the year ended December 31, 2022 and December 31, 2021, respectively. The Company’s trade receivables consist of receivable from customers which are unrelated to the Company. The account receivables are non-interest bearing and is generally on 30 days to 90 days term

INCOME TAXES

INCOME TAXES	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
INCOME TAXES
INCOME TAXES	NOTE 4 - INCOME TAXES The Company provides for income taxes under ASC 740, “Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statements and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. It also requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Provision for income taxes consisted of the following: United States of America The Company is registered in the State of Wyoming and is subject to the tax laws of the United States of America. Malaysia BioNexus Malaysia and Chemrex are both subject to Malaysia Corporate Tax, which is charged at the statutory income tax rate range is 24% on its assessable income. Under the amendment of Income Tax Act 1967 by the Finance Act 2020 and with effect from year of assessment 2020, companies with paid-up capital of RM2.5 million or less, and with annual business income of not more than RM50 million are subject to Small and Medium Enterprise Corporate Tax at 17% on chargeable income up to RM600,000 (2021: RM600,000) except for companies with investment holding nature or companies does not have gross income from business sources are subject to corporate tax at 24% on chargeable income. As of March 31, December 31, December 31, 2022 2022 2021 Tax Recoverable Local $ - $ - $ - Foreign, representing Malaysia (27,823 ) (31,551 ) - Tax Recoverable (27,823 ) (31,551 ) - Income tax liabilities: Local $ - $ - $ - Foreign, representing Malaysia - - 97,585 Income tax payables - - 97,585 Deferred tax liabilities: Local $ - $ - $ - Foreign, representing Malaysia 30,678 30,866 28,416 Deferred tax liabilities 30,678 30,866 28,416 Total 2,855 (685 ) 126,001	NOTE 4 – INCOME TAXES BioNexus provides for income taxes under ASC 740, “Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statements and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. It also requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Provision for income taxes consisted of the following: United States of America BioNexus is registered in the State of Wyoming and is subject to the tax laws of the United States of America. Malaysia BioNexus Malaysia and Chemrex are both subject to Malaysia Corporate Tax, which is charged at the statutory income tax rate range is 24% on its assessable income. Under the amendment of Income Tax Act 1967 by the Finance Act 2020 and with effect from year of assessment 2020, companies with paid-up capital of MYR2.5 million or less, and with annual business income of not more than RM50 million are subject to Small and Medium Enterprise Corporate Tax at 17% on chargeable income up to MYR600,000 (2021: MYR600,000) except for companies with investment holding nature or companies does not have gross income from business sources are subject to corporate tax at 24% on chargeable income. As of December 31, December 31, 2022 2021 Tax Recoverable Local $ - $ - Foreign, representing Malaysia (31,551 ) - Tax Recoverable (31,551 ) - Income tax liabilities: Local - - Foreign, representing Malaysia - 97,585 Income tax liabilities - 97,585 Deferred tax liabilities: Local - - Foreign, representing Malaysia 30,866 28,416 Deferred tax liabilities 30,866 28,416 Total $ (685 ) $ 126,001

OPERATING LEASE RIGHT OF USE AS

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES	NOTE 5 – OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES Lease liabilities are measured at present value of the sum of remaining rental payment as of recognition with discount rate of 6.40% per annum adopted from Malayan Banking (Maybank) Berhad's base rate as a reference for discount rate, as this bank is the largest bank and national bank of Malaysia. A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows. Operating lease right of use as follows: As of March 31, December 31, December 31, 2022 2022 2021 Balance as of beginning of the year $ 55,730 $ 41,090 $ 62,529 Add: Addition of right of use assets - 32,281 - Reduction due to discount on rental - - (913 ) Less: accumulated amortization (3,954 ) (15,534 ) (18,305 ) Foreign translation differences (340 ) (2,107 ) (2,221 ) Balance $ 51,436 $ 55,730 $ 41,090 Operating lease liabilities as follows: As of March 31, December 31, December 31, 2022 2022 2021 Balance as of beginning of the year $ 56,775 $ 42,909 $ 63,079 Add: Addition of lease liabilities - 30,770 - Less: Discount on rental - - (972 ) Less: gross repayment (4,875 ) (19,618 ) (16,856 ) Add: imputed interest 855 4,913 2,704 Foreign translation differences (346 ) (2,199 ) (5,046 ) Balance as of end of the year 52,409 56,775 42,909 Less: lease liability current portion (16,733 ) (16,569 ) (18,272 ) Lease liability non-current portion $ 35,676 $ 40,206 $ 24,637 The amortization of the right of use asset for the three months’ period ended March 31, 2023 and 2022 were $3,972, $4,341, for year ended December 31, 2022 and 2021 were $13,992 and $16,933, respectively. Other information: As of March 31, December 31, December 31, 2022 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating lease $ (4,366 ) $ (126,686 ) $ (20,169 ) Right of use assets obtained in exchange for operating lease liabilities 51,436 55,730 41,090 Remaining lease term for operating lease (years) 3.75 4 2 Weighted average discount rate for operating lease 6.40 % 6.40 % 5.40 % Lease expenses for the three months’ period ended March 31, 2023, the year ended December 31, 2022 and December 31, 2021 were $855, $4,913 and $2,704 respectively.	NOTE 5 – OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES Lease liabilities are measured at present value of the sum of remaining rental payment as of recognition with discount rate of 6.40% per annum adopted from Malayan Banking (Maybank) Berhad’s base rate as a reference for discount rate, as this bank is the largest bank and national bank of Malaysia. A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows. As of December 31, 2022 and 2021 operating lease right of use assets as follows: As of As of December 31, 2022 December 31, 2021 Balance as of December 31, 2021 $ 41,090 $ 62,529 Add: Addition of right of use assets 32,281 - Reduction due to discount on rental - (913 ) Less: accumulated amortization (15,534 ) (18,305 ) Foreign translation differences (2,107 ) (2,221 ) Balance as of December 31, 2022 $ 55,730 $ 41,090 As of December 31, 2022 and 2021 operating lease liabilities as follows: As of As of December 31, 2022 December 31, 2021 Balance as of beginning of the year $ 42,909 $ 63,079 Add: Addition of lease liabilities 30,770 - Less: Discount on rental - (972 ) Less: gross repayment (19,618 ) (16,856 ) Add: imputed interest 4,913 2,704 Foreign translation differences (2,199 ) (5,046 ) Balance as of end of the year 56,775 42,909 Less: lease liabilities current portion (16,569 ) (18,272 ) Lease liabilities non-current portion $ 40,206 $ 24,637 As of December 31, 2022 and 2021, the maturities of the operating lease obligation are as follows: As of As of Years ending December 31: December 31, 2022 December 31, 2021 2022 - 18,272 2023 16,569 11,987 2024 17,048 12,650 2025 11,209 - 2026 11,949 - Total $ 56,775 $ 42,909 The amortization of the operating lease right of use asset for the year ended December 31, 2022 and 2021 were $13,992 and $16,933, respectively. Other information: As of As of December 31, 2022 December 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating leases $ (126,686 ) $ (20,169 ) Right of use assets obtained in exchange for operating lease liabilities 55,730 41,090 Remaining lease term for operating leases (years) 4 2 Weighted average discount rate for operating leases $ 6.40 % $ 5.40 % Lease expenses for the year ended December 31, 2022 and 2021 were $4,913 and $2,704 respectively.

PROPERTY PLANT AND EQUIPMENT

PROPERTY PLANT AND EQUIPMENT	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
PROPERTY PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 6 - PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following: As of March 31, December 31, December 31, 2023 2022 2021 Air conditioner $ 1,124 $ 1,124 $ 1,124 Computer and software 2,516 2,516 1,814 Equipment 60,525 60,525 43,010 Furniture and fittings 87,122 87,122 86,961 Lab equipment 320,102 320,102 284,822 Land and buildings 1,506,969 1,506,969 1,506,969 Motor vehicle 137,914 137,914 137,914 Office equipment 38,213 38,213 37,700 Renovation 107,414 107,414 107,414 Signboard 806 704 704 2,262,705 2,262,603 2,208,432 (Less): Accumulated depreciation (611,214 ) (590,317 ) (525,631 ) Add: Foreign translation differences (169,724 ) (133,982 ) (48,383 ) Property, plant and equipment, net $ 1,481,767 $ 1,538,304 $ 1,634,418 Depreciation expense for the three months’ period ended March 31, 2023 and 2022 were $20,897 and $22,307 respectively, for the year ended December 31, 2022 and 2021 were $91,427 and $91,282, respectively.	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following: As of December 31, 2022 December 31, 2021 Air conditioner $ 1,124 $ 1,124 Computer and software 2,516 1,814 Equipment 60,525 43,010 Furniture and fittings 87,122 86,961 Lab equipment 320,102 284,822 Land and buildings 1,506,969 1,506,969 Motor vehicle 137,914 137,914 Office equipment 38,213 37,700 Renovation 107,414 107,414 Signboard 704 704 2,262,603 2,208,432 (Less): Accumulated depreciation (616,913 ) (525,631 ) Add: Foreign translation differences (133,982 ) (48,383 ) Property, plant and equipment, net $ 1,511,708 $ 1,634,418 During the year ended December 31, 2022 and 2021, the Company recorded depreciation of $91,427 and $91,282, respectively.

OTHER INVESTMENTS

OTHER INVESTMENTS	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
OTHER INVESTMENTS
OTHER INVESTMENTS	NOTE 7 - OTHER INVESTMENTS As of March 31, December 31, December 31, 2022 2022 2021 As of beginning of the year $ 1,150,898 $ 749,027 $ 281,668 Addition during the year 13,646 511,706 515,840 Disposal during the year - - (6,392 ) Written off during the year - (1,776 ) - Fair value gain 37,399 (70,628 ) (29,850 ) Foreign exchange translation (7,268 ) (37,431 ) (12,239 ) As of end of the year $ 1,194,675 $ 1,150,898 $ 749,027 The other investments consist of the following shares: As of March 31, December 31, December 31, 2023 2022 2021 Investment in quoted shares: Malaysia 689,531 659,970 590,788 Singapore 94,757 101,426 97,780 Hong Kong 410,387 389,502 58,584 $ 1,194,675 $ 1,150,898 $ 747,152 Investment in unquoted shares: Malaysia - - 1,875 $ 1,194,675 $ 1,150,898 $ 749,027	NOTE 7 – OTHER INVESTMENTS As of As of December 31, 2022 December 31, 2021 As of beginning of the year $ 749,027 $ 281,668 Acquisition of business under common control - - Addition during the year 511,706 515,840 Disposal during the year - (6,392 ) Written off during the year (1,776 ) - Fair value gain (70,628 ) (29,850 ) Foreign exchange translation (37,431 ) (12,239 ) As of end of the year $ 1,150,898 $ 749,027 The other investments consist of the following shares: As of December 31, December 31, 2022 2021 Investment in quoted shares: Malaysia 659,970 590,788 Singapore 101,426 97,780 Hong Kong 389,502 58,584 $ 1,150,898 $ 747,152 Investment in unquoted shares: Malaysia - 1,875 $ 1,150,898 $ 749,027

TRADE PAYABLES

TRADE PAYABLES	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
TRADE PAYABLES
TRADE PAYABLES	NOTE 8 - TRADE PAYABLES Trade payables are amounts billed to the Company by suppliers for goods and services in the ordinary course of business. All amounts have short-term repayment terms and vary by supplier.	NOTE 8 – TRADE PAYABLES Trade payables are amounts billed to the Company by suppliers for goods and services in the ordinary course of business. All amounts have short-term repayment terms and vary by supplier.

CONCENTRATION OF RISKS

CONCENTRATION OF RISKS	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
CONCENTRATION OF RISKS
CONCENTRATION OF RISKS	NOTE 9 - CONCENTRATION OF RISKS a) Major customers During the period, the Company did not have any material recognizable major customers accounted for 10% or more of the Company’s revenue for the financial period ended March 31, 2023 and 2022, for the financial year ended December 31, 2022 and 2021. . b) Major suppliers For month ended March 31, 2023 and 2022, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows: 2023 2022 2023 2022 2023 2022 Purchase Percentage of purchases Accounts payable trade Vendor A $ 410,208 $ 504,906 20.43 % 18.89 % $ 408,334 $ 502,559 Vendor B $ 314,739 $ 333,751 15.67 % 12.49 % $ 313,300 $ 332,200 Vendor C $ 213,965 $ 449,494 10.65 % 16.82 % $ 199,312 $ 178,749 $ 938,912 $ 1,288,151 46.75 % 48.20 % $ 920,946 $ 1,013,508 For year ended December 31, 2022, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows: 2022 2021 2022 2021 2022 2021 Purchase Percentage of purchases Accounts payable trade Vendor A $ 1,497,142 $ 1,815,817 15.48 % 16.37 % $ 147,376 $ 397,636 Vendor B $ 1,425,867 $ 1,404,442 14.74 % 12.66 % $ 389,697 $ 405,999 Vendor C $ 1,424,476 $ 2,026,842 14.73 % 18.27 % $ 509,031 $ 640,827 Vendor D $ 1,171,511 $ 1,191,344 12.11 % 10.74 % $ 366,764 $ 269,966 $ 5,518,996 $ 6,438,445 57.06 % 58.03 % $ 1,412,868 $ 1,714,428	NOTE 9 – CONCENTRATION OF RISKS a) Major customers There are no major customers who accounted for 10% or more of the Company’s revenue for the financial year ended December 31, 2022 and 2021. b) Major suppliers For year ended December 31, 2022, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows: 2022 2021 2022 2021 2022 2021 Purchase Percentage of purchases Accounts payable trade Vendor A $ 1,497,142 $ 1,815,817 15.48 % 16.37 % $ 147,376 $ 397,636 Vendor B $ 1,425,867 $ 1,404,442 14.74 % 12.66 % $ 389,697 $ 405,999 Vendor C $ 1,424,476 $ 2,026,842 14.73 % 18.27 % $ 509,031 $ 640,827 Vendor D $ 1,171,511 $ 1,191,344 12.11 % 10.74 % $ 366,764 $ 269,966 $ 5,518,996 $ 6,438,445 57.06 % 58.03 % $ 1,412,868 $ 1,714,428

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
STOCKHOLDERS EQUITY
STOCKHOLDERS' EQUITY	NOTE 10 - STOCK HOLDERS’ EQUITY As at March 31, 2023 and December 31, 2022, the Company issued and outstanding common stock are 173,718,152 shares and as at December 31, 2021, the Company issued and outstanding, common stock is 171,218,152 shares.	NOTE 10 – STOCKHOLDERS’ EQUITY As at December 31, 2022 and 2021, the Company issued and outstanding, common stock is 173,718,152 and 171,218,152 shares respectively. On April 12, 2022, the Company entered into Sales & Purchase Agreement with Keith Wong pursuant to which the Company agreed to the sales of 2,500,000 shares of its common stock at $0.06/share. The issuance was exempt under Section 4(a)(2) of the Securities Act as the recipient was a sophisticated investor, the shares were restricted securities and he represented that he is acquiring the shares for investment purposes.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SEGMENTED INFORMATION
SEGMENTED INFORMATION	NOTE 11 - SEGMENTED INFORMATION At March 31, 2023, the Company (“BGLC”) operates in the biochemical industry segment through its two Malaysian subsidiaries, BioNexus Malaysia and Chemrex. BioNexus Gene Lab Corp. a Wyoming company 100% owned 100% owned Bionexus Gene Lab Sdn. Bhd., a Malaysian company Chemrex Corporation Sdn. Bhd., a Malaysian Company For the quarter ended March 31, 2023, segmented (unaudited) revenue and net profit/(loss) (Currency expressed in United States Dollars (“US$”) are as follows: BioNexus Malaysia Chemrex BGLC Total Three months ended March 31, 2023 REVENUE $ 7,436 $ 2,369,769 $ - $ 2,377,205 COST OF REVENUE (5,347 ) (2,002,961 ) - (2,008,308 ) GROSS /PROFIT 2,089 366,808 - 368,897 OTHER INCOME 1,126 116,218 - 117,344 OPERATING EXPENSES General and administrative (46,255 ) (383,177 ) (107,440 ) (536,872 ) (LOSS)/PROFIT FROM OPERATIONS (43,040 ) 99,849 (107,440 ) (50,631 ) FINANCE COSTS (666 ) (1,779 ) - (2,445 ) (LOSS)/PROFIT BEFORE TAX (43,706 ) 98,070 (107,440 ) (53,076 ) Tax expense - (15,990 ) - (15,990 ) NET (LOSS)/PROFIT $ (43,706 ) $ 82,080 $ (107,440 ) $ (69,066 ) BioNexus Malaysia Chemrex BGLC Total Three months ended March 31, 2022 REVENUE $ 24,269 $ 3,004,676 $ - $ 3,028,945 COST OF REVENUE (8,038 ) (2,664,574 ) - (2,672,612 ) GROSS PROFIT 16,231 340,102 - 356,333 OTHER INCOME 2,076 44,306 12 46,394 OPERATING EXPENSES General and administrative (44,042 ) (297,769 ) (26,225 ) (368,036 ) (LOSS)/PROFIT FROM OPERATIONS (25,735 ) 86,639 (26,213 ) 34,691 FINANCE COSTS (799 ) (2,527 ) - (3,326 ) PROFIT/(LOSS) BEFORE TAX (52,269 ) 170,751 (52,426 ) 31,365 Tax expense - (14,299 ) - (14,299 ) NET PROFIT/(LOSS) $ (52,269 ) $ 502,730 $ (52,426 ) $ 17,066 For year ended December 31, 2022, segmented revenue and net profit/(loss) (Currency expressed in United States Dollars (“US$”) are as follows: BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2022 REVENUE $ 95,816 $ 10,832,891 $ - $ 10,928,707 COST OF REVENUE (51,465 ) (9,618,213 ) - (9,669,678 ) GROSS PROFIT 44,351 1,214,678 - 1,259,029 OTHER INCOME 8,830 170,453 - 179,283 OPERATING EXPENSES General and administrative (286,753 ) (1,051,855 ) (390,881 ) (1,729,489 ) FINANCE COSTS (5,657 ) (6,822 ) - (12,479 ) (LOSS)/PROFIT BEFORE TAX (239,229 ) 326,454 (390,881 ) (303,656 ) Tax expense: Deferred tax (1,428 ) (2,470 ) - (3,898 ) Income tax - (48,412 ) - (48,412 ) Total tax expense (1,428 ) (50,882 ) - (52,310 ) NET (LOSS)/PROFIT $ (240,657 ) $ 275,572 $ (390,881 ) $ (355,966 ) BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2021 REVENUE $ 1,515,673 $ 11,846,894 $ - $ 13,362,567 COST OF REVENUE (1,052,938 ) (10,042,688 ) - (11,095,626 ) GROSS PROFIT 462,735 1,804,206 - 2,266,941 OTHER INCOME 7,467 59,024 - 66,491 OPERATING EXPENSES General and administrative (160,094 ) (989,617 ) (127,894 ) (1,277,605 ) FINANCE COSTS (4,158 ) (8,815 ) - (12,973 ) PROFIT/(LOSS) BEFORE TAX 305,950 864,798 (127,894 ) 1,042,854 Tax expense: Deferred tax (11,997 ) (14,739 ) - (26,736 ) Income tax (30,482 ) (234,065 ) - (264,547 ) Total tax expense (42,479 ) (248,804 ) - (291,283 ) NET PROFIT/(LOSS) $ 263,471 $ 615,994 $ (127,894 ) $ 751,571 Total Assets Total Liabilities March 31, December 31, December 31, March 31, December 31, December 31, 2023 2022 2021 2023 2022 2021 BGLC & Bionexus $ 509,574 $ 677,477 $ 1,167,214 $ 93,034 $ 108,390 $ 121,586 Chemrex 7,677,067 8,062,685 8,407,176 1,536,699 1,966,759 2,273,025 TOTAL 8,186,641 8,740,162 9,574,390 1,629,733 2,075,149 2,394,611	NOTE 11 – SEGMENTED INFORMATION At December 31, 2022, the Company (“BGLC”) operates in the biochemical industry segment through its two Malaysian subsidiaries, BioNexus Malaysia and Chemrex. BioNexus Gene Lab Corp. a Wyoming company 100% owned 100% owned Bionexus Gene Lab Sdn. Bhd., a Malaysian company Chemrex Corporation Sdn. Bhd., a Malaysian Company For year ended December 31, 2022, segmented revenue and net profit/(loss) (Currency expressed in United States Dollars (“US$”) are as follows: BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2022 REVENUE $ 95,816 $ 10,832,891 $ - $ 10,928,707 COST OF REVENUE (51,465 ) (9,618,213 ) - (9,669,678 ) GROSS PROFIT 44,351 1,214,678 - 1,259,029 OTHER INCOME 8,830 170,453 - 179,283 OPERATING EXPENSES General and administrative (286,753 ) (1,051,855 ) (390,881 ) (1,729,489 ) FINANCE COSTS (5,657 ) (6,822 ) - (12,479 ) (LOSS)/PROFIT BEFORE TAX (239,229 ) 326,454 (390,881 ) (303,656 ) Tax expense: Deferred tax (1,428 ) (2,470 ) - (3,898 ) Income tax - (48,412 ) - (48,412 ) Total tax expense (1,428 ) (50,882 ) - (52,310 ) NET (LOSS)/PROFIT $ (240,657 ) $ 275,572 $ (390,881 ) $ (355,966 ) BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2021 REVENUE $ 1,515,673 $ 11,846,894 $ - $ 13,362,567 COST OF REVENUE (1,052,938 ) (10,042,688 ) - (11,095,626 ) GROSS PROFIT 462,735 1,804,206 - 2,266,941 OTHER INCOME 7,467 59,024 - 66,491 OPERATING EXPENSES General and administrative (160,094 ) (989,617 ) (127,894 ) (1,277,605 ) FINANCE COSTS (4,158 ) (8,815 ) - (12,973 ) PROFIT/(LOSS) BEFORE TAX 305,950 864,798 (127,894 ) 1,042,854 Tax expense: Deferred tax (11,997 ) (14,739 ) - (26,736 ) Income tax (30,482 ) (234,065 ) - (264,547 ) Total tax expense (42,479 ) (248,804 ) - (291,283 ) NET PROFIT/(LOSS) $ 263,471 $ 615,994 $ (127,894 ) $ 751,571 As of December 31, 2022 and 2021 Total Assets Total Liabilities 2022 2021 2022 2021 BGLC & Bionexus $ 677,477 $ 1,167,214 $ 108,390 $ 121,586 Chemrex 8,062,685 8,407,176 1,966,759 2,273,025 TOTAL 8,740,162 9,574,390 2,075,149 2,394,611

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 - SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after March 31, 2023 up through May 7, 2023 of these consolidated financial statements.	NOTE 12 – SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after December 31, 2022 up through March 30, 2023 of these consolidated financial statements. During the period, the Company did not have any material recognizable subsequent events.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).	☐ Basis of presentation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
Basis of consolidation	The condensed consolidated financial statements include the accounts of Bionexus Gene Lab Corp. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.	☐ Basis of consolidation The consolidated financial statements include the accounts of Bionexus Gene Lab Corp. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Use of estimates	In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.	☐ Use of estimates In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents 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.	☐ Cash and cash equivalents Cash and cash equivalents 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.
Trade receivables	Trade receivables are recorded at the invoiced amount and do not bear interest. Management reviews the adequacy of the allowance for impairment on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to adjust in the allowance when it is considered necessary. Trade balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.	☐ Trade receivables Trade receivables are recorded at the invoiced amount and do not bear interest. Management reviews the adequacy of the allowance for impairment on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to adjust in the allowance when it is considered necessary. Trade balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Inventories	Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Statement of Operations and Comprehensive Income.	☐ Inventories Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Statement of Operations and Comprehensive Income.
Leases	Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods.	☐ Leases Prior to January 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods.
Property, plant and equipment	Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis to write off the cost over the following expected useful lives of the assets concerned. The principal annual rates used are as follows: Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 % Leasehold lands are depreciated over the period of lease term. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Company will obtain ownership by the end of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not depreciated until the assets are ready for their intended use. Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized. When properties are disposed, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is reported in the period the transaction takes place. Fully depreciated plant and equipment are retained in the financial statements until they are no longer in use.	☐ Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis to write off the cost over the following expected useful lives of the assets concerned. The principal annual rates used are as follows: Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 % Leasehold lands are depreciated over the period of lease term. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Company will obtain ownership by the end of the lease term. Freehold land is not depreciated. Property, plant and equipment under construction are not depreciated until the assets are ready for their intended use Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized. When properties are disposed of, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is reported in the period the transaction takes place. Fully depreciated plant and equipment are retained in the financial statements until they are no longer in use.
Impairment of long-lived assets	Long-lived assets primarily include goodwill, intangible assets and property, plant and equipment. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as a significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented.	☐ Impairment of long-lived assets Long-lived assets primarily include goodwill, intangible assets and property, plant and equipment. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as a significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented.
Revenue recognition	Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company records revenue at point in time which is recognized upon goods delivered or services rendered.	☐ Revenue recognition Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company records revenue at point in time which is recognized upon goods delivered or services rendered.
Shipping and handling fees	Shipping and handling fees, if billed to customers, are included in revenue. Shipping and handling fees associated with inbound and outbound freight are expensed as incurred and included in selling and distribution expenses.	☐ Shipping and handling fees Shipping and handling fees, if billed to customers, are included in revenue. Shipping ang handling fees associated with inbound and outbound freight are expensed as incurred and included in selling and distribution expenses.
Comprehensive income	ASC Topic 220, “ Comprehensive Income	☐ Comprehensive income ASC Topic 220, “Comprehensive Income” establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statements of stockholders’ equity consists of changes in unrealized gains and losses on foreign currency translation and cumulative net change in the fair value of available-for-sale investments held at the balance sheet date. This comprehensive income is not included in the computation of income tax expense or benefit.
Income taxes	Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company conducts major businesses in Malaysia and is subject to tax in their own jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities.	☐ Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 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 years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company conducts major businesses in Malaysia and is subject to tax in their own jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities.
Net earnings or loss per share	The Company calculates net earnings or loss per share in accordance with ASC Topic 260 “Earnings per share”	☐ Net earnings or loss per share The Company calculates net earnings or loss per share in accordance with ASC Topic 260 “Earnings per share”. Basic earnings or loss per share is computed by dividing the net earnings or loss by the weighted average number of common shares outstanding during the period. Diluted earnings or loss per share is computed similar to basic earnings or loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.
Foreign currencies translation	Transactions denominated in currencies other than the functional 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 statement of operations. The functional currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the subsidiaries maintain its books and record in a local currency, Malaysian Ringgit (“MYR” or “RM”), which is functional currency as being the primary currency of the economic environment in which the subsidiaries operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement” Translation of amounts from MYR into US$1.00 has been made at the following exchange rates for the respective period and year: March 31, December 31, December 31, 2023 2022 2021 Period ended March 31, 2023 /Year-ended December 31, 2022 and 2021 US$1: MYR exchange rate 4.4170 4.3900 4.1650 January 1, 2023 to March 31, January 1, 2022 to March 31, January 1, 2022 to December 31, 2023 2022 2022 3 months average 2023/2022 and Yearly average 2022 US$1: MYR exchange rate 4.3968 4.1938 4.3996	☐ Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The functional currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$ as being the primary currency of the economic environment in which the Company operates. The functional currency of the subsidiaries is Malaysian Ringgit (“MYR”) as being the primary currency of the economic environment in which the subsidiaries operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income. Translation of amounts from MYR into US$1.00 has been made at the following exchange rates for the respective years: December 31, 2022 December 31, 2021 Year-end US$1.00: MYR exchange rate 4.3900 4.1650 January 1, 2022 to December 31, 2022 January 1, 2021 to December 31, 2021 Yearly average US$1.00: MYR exchange rate 4.3996 4.1456
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.	☐ Related parties Parties, which can be a corporation or individual, are 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.
Fair value of financial instruments	The carrying value of the Company’s financial instruments: cash and cash equivalents, trade receivable, deposits and other receivables, amount due to related parties and other payables 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 · Level 1 · Level 2 · Level 3 As of March 31, 2023, and December 31, 2022, the Company did not have any nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.	☐ Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, trade receivable, deposits and other receivables, amount due to related parties and other payables 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 directly or indirectly; and · Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions As of December 31, 2022, and December 31, 2021, the Company did not have any non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements, at least annually, on a recurring basis, nor did the Company have any assets or liabilities measured at fair value on a non-recurring basis.
Recent accounting pronouncements	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.	☐ Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements. FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Principal Annual Rates	Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 %	Categories Principal Annual Rates Air conditioner 20 % Buildings 2 % Computer and software 33 % Equipment 20 % Furniture and fittings 10% to 20 % Lab Equipment 10 % Motor vehicle 10% to 20 % Office equipment 20 % Renovation 10% to 20 % Signboard 10 %
Schedule of Exchange Rates	March 31, December 31, December 31, 2023 2022 2021 Period ended March 31, 2023 /Year-ended December 31, 2022 and 2021 US$1: MYR exchange rate 4.4170 4.3900 4.1650 January 1, 2023 to March 31, January 1, 2022 to March 31, January 1, 2022 to December 31, 2023 2022 2022 3 months average 2023/2022 and Yearly average 2022 US$1: MYR exchange rate 4.3968 4.1938 4.3996	December 31, 2022 December 31, 2021 Year-end US$1.00: MYR exchange rate 4.3900 4.1650 January 1, 2022 to December 31, 2022 January 1, 2021 to December 31, 2021 Yearly average US$1.00: MYR exchange rate 4.3996 4.1456

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
INCOME TAXES
Schedule of Deferred Tax Assets and Liabilities	As of March 31, December 31, December 31, 2022 2022 2021 Tax Recoverable Local $ - $ - $ - Foreign, representing Malaysia (27,823 ) (31,551 ) - Tax Recoverable (27,823 ) (31,551 ) - Income tax liabilities: Local $ - $ - $ - Foreign, representing Malaysia - - 97,585 Income tax payables - - 97,585 Deferred tax liabilities: Local $ - $ - $ - Foreign, representing Malaysia 30,678 30,866 28,416 Deferred tax liabilities 30,678 30,866 28,416 Total 2,855 (685 ) 126,001	As of December 31, December 31, 2022 2021 Tax Recoverable Local $ - $ - Foreign, representing Malaysia (31,551 ) - Tax Recoverable (31,551 ) - Income tax liabilities: Local - - Foreign, representing Malaysia - 97,585 Income tax liabilities - 97,585 Deferred tax liabilities: Local - - Foreign, representing Malaysia 30,866 28,416 Deferred tax liabilities 30,866 28,416 Total $ (685 ) $ 126,001

OPERATING LEASE RIGHT OF USE _2

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES
Schedule of the operating lease liability	Operating lease right of use as follows: As of March 31, December 31, December 31, 2022 2022 2021 Balance as of beginning of the year $ 55,730 $ 41,090 $ 62,529 Add: Addition of right of use assets - 32,281 - Reduction due to discount on rental - - (913 ) Less: accumulated amortization (3,954 ) (15,534 ) (18,305 ) Foreign translation differences (340 ) (2,107 ) (2,221 ) Balance $ 51,436 $ 55,730 $ 41,090 Operating lease liabilities as follows: As of March 31, December 31, December 31, 2022 2022 2021 Balance as of beginning of the year $ 56,775 $ 42,909 $ 63,079 Add: Addition of lease liabilities - 30,770 - Less: Discount on rental - - (972 ) Less: gross repayment (4,875 ) (19,618 ) (16,856 ) Add: imputed interest 855 4,913 2,704 Foreign translation differences (346 ) (2,199 ) (5,046 ) Balance as of end of the year 52,409 56,775 42,909 Less: lease liability current portion (16,733 ) (16,569 ) (18,272 ) Lease liability non-current portion $ 35,676 $ 40,206 $ 24,637	As of As of December 31, 2022 December 31, 2021 Balance as of beginning of the year $ 42,909 $ 63,079 Add: Addition of lease liabilities 30,770 - Less: Discount on rental - (972 ) Less: gross repayment (19,618 ) (16,856 ) Add: imputed interest 4,913 2,704 Foreign translation differences (2,199 ) (5,046 ) Balance as of end of the year 56,775 42,909 Less: lease liabilities current portion (16,569 ) (18,272 ) Lease liabilities non-current portion $ 40,206 $ 24,637
Schedule of operating lease right of use assets		As of As of December 31, 2022 December 31, 2021 Balance as of December 31, 2021 $ 41,090 $ 62,529 Add: Addition of right of use assets 32,281 - Reduction due to discount on rental - (913 ) Less: accumulated amortization (15,534 ) (18,305 ) Foreign translation differences (2,107 ) (2,221 ) Balance as of December 31, 2022 $ 55,730 $ 41,090
Schedule of maturities of the operating lease obligation		As of As of Years ending December 31: December 31, 2022 December 31, 2021 2022 - 18,272 2023 16,569 11,987 2024 17,048 12,650 2025 11,209 - 2026 11,949 - Total $ 56,775 $ 42,909
Schedule of Amortization of Right of Use	Other information: As of March 31, December 31, December 31, 2022 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating lease $ (4,366 ) $ (126,686 ) $ (20,169 ) Right of use assets obtained in exchange for operating lease liabilities 51,436 55,730 41,090 Remaining lease term for operating lease (years) 3.75 4 2 Weighted average discount rate for operating lease 6.40 % 6.40 % 5.40 %	As of As of December 31, 2022 December 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating leases $ (126,686 ) $ (20,169 ) Right of use assets obtained in exchange for operating lease liabilities 55,730 41,090 Remaining lease term for operating leases (years) 4 2 Weighted average discount rate for operating leases $ 6.40 % $ 5.40 %

PROPERTY PLANT AND EQUIPMENT (T

PROPERTY PLANT AND EQUIPMENT (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
PROPERTY PLANT AND EQUIPMENT
Schedule of Plant and Equipment	As of March 31, December 31, December 31, 2023 2022 2021 Air conditioner $ 1,124 $ 1,124 $ 1,124 Computer and software 2,516 2,516 1,814 Equipment 60,525 60,525 43,010 Furniture and fittings 87,122 87,122 86,961 Lab equipment 320,102 320,102 284,822 Land and buildings 1,506,969 1,506,969 1,506,969 Motor vehicle 137,914 137,914 137,914 Office equipment 38,213 38,213 37,700 Renovation 107,414 107,414 107,414 Signboard 806 704 704 2,262,705 2,262,603 2,208,432 (Less): Accumulated depreciation (611,214 ) (590,317 ) (525,631 ) Add: Foreign translation differences (169,724 ) (133,982 ) (48,383 ) Property, plant and equipment, net $ 1,481,767 $ 1,538,304 $ 1,634,418	As of December 31, 2022 December 31, 2021 Air conditioner $ 1,124 $ 1,124 Computer and software 2,516 1,814 Equipment 60,525 43,010 Furniture and fittings 87,122 86,961 Lab equipment 320,102 284,822 Land and buildings 1,506,969 1,506,969 Motor vehicle 137,914 137,914 Office equipment 38,213 37,700 Renovation 107,414 107,414 Signboard 704 704 2,262,603 2,208,432 (Less): Accumulated depreciation (616,913 ) (525,631 ) Add: Foreign translation differences (133,982 ) (48,383 ) Property, plant and equipment, net $ 1,511,708 $ 1,634,418

OTHER INVESTMENTS (Tables)

OTHER INVESTMENTS (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
OTHER INVESTMENTS
Schedule of Other Investments	As of March 31, December 31, December 31, 2022 2022 2021 As of beginning of the year $ 1,150,898 $ 749,027 $ 281,668 Addition during the year 13,646 511,706 515,840 Disposal during the year - - (6,392 ) Written off during the year - (1,776 ) - Fair value gain 37,399 (70,628 ) (29,850 ) Foreign exchange translation (7,268 ) (37,431 ) (12,239 ) As of end of the year $ 1,194,675 $ 1,150,898 $ 749,027 The other investments consist of the following shares: As of March 31, December 31, December 31, 2023 2022 2021 Investment in quoted shares: Malaysia 689,531 659,970 590,788 Singapore 94,757 101,426 97,780 Hong Kong 410,387 389,502 58,584 $ 1,194,675 $ 1,150,898 $ 747,152 Investment in unquoted shares: Malaysia - - 1,875 $ 1,194,675 $ 1,150,898 $ 749,027	As of As of December 31, 2022 December 31, 2021 As of beginning of the year $ 749,027 $ 281,668 Acquisition of business under common control - - Addition during the year 511,706 515,840 Disposal during the year - (6,392 ) Written off during the year (1,776 ) - Fair value gain (70,628 ) (29,850 ) Foreign exchange translation (37,431 ) (12,239 ) As of end of the year $ 1,150,898 $ 749,027 As of December 31, December 31, 2022 2021 Investment in quoted shares: Malaysia 659,970 590,788 Singapore 101,426 97,780 Hong Kong 389,502 58,584 $ 1,150,898 $ 747,152 Investment in unquoted shares: Malaysia - 1,875 $ 1,150,898 $ 749,027

CONCENTRATION OF RISKS (Tables)

CONCENTRATION OF RISKS (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
CONCENTRATION OF RISKS
Schedule of Major suppliers Cost Of Sales	2023 2022 2023 2022 2023 2022 Purchase Percentage of purchases Accounts payable trade Vendor A $ 410,208 $ 504,906 20.43 % 18.89 % $ 408,334 $ 502,559 Vendor B $ 314,739 $ 333,751 15.67 % 12.49 % $ 313,300 $ 332,200 Vendor C $ 213,965 $ 449,494 10.65 % 16.82 % $ 199,312 $ 178,749 $ 938,912 $ 1,288,151 46.75 % 48.20 % $ 920,946 $ 1,013,508 2022 2021 2022 2021 2022 2021 Purchase Percentage of purchases Accounts payable trade Vendor A $ 1,497,142 $ 1,815,817 15.48 % 16.37 % $ 147,376 $ 397,636 Vendor B $ 1,425,867 $ 1,404,442 14.74 % 12.66 % $ 389,697 $ 405,999 Vendor C $ 1,424,476 $ 2,026,842 14.73 % 18.27 % $ 509,031 $ 640,827 Vendor D $ 1,171,511 $ 1,191,344 12.11 % 10.74 % $ 366,764 $ 269,966 $ 5,518,996 $ 6,438,445 57.06 % 58.03 % $ 1,412,868 $ 1,714,428
Schedule of concentration of risk		2022 2021 2022 2021 2022 2021 Purchase Percentage of purchases Accounts payable trade Vendor A $ 1,497,142 $ 1,815,817 15.48 % 16.37 % $ 147,376 $ 397,636 Vendor B $ 1,425,867 $ 1,404,442 14.74 % 12.66 % $ 389,697 $ 405,999 Vendor C $ 1,424,476 $ 2,026,842 14.73 % 18.27 % $ 509,031 $ 640,827 Vendor D $ 1,171,511 $ 1,191,344 12.11 % 10.74 % $ 366,764 $ 269,966 $ 5,518,996 $ 6,438,445 57.06 % 58.03 % $ 1,412,868 $ 1,714,428

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
SEGMENTED INFORMATION
Schedule of Segmented Revenue and Net Profit/(Loss)	BioNexus Malaysia Chemrex BGLC Total Three months ended March 31, 2023 REVENUE $ 7,436 $ 2,369,769 $ - $ 2,377,205 COST OF REVENUE (5,347 ) (2,002,961 ) - (2,008,308 ) GROSS /PROFIT 2,089 366,808 - 368,897 OTHER INCOME 1,126 116,218 - 117,344 OPERATING EXPENSES General and administrative (46,255 ) (383,177 ) (107,440 ) (536,872 ) (LOSS)/PROFIT FROM OPERATIONS (43,040 ) 99,849 (107,440 ) (50,631 ) FINANCE COSTS (666 ) (1,779 ) - (2,445 ) (LOSS)/PROFIT BEFORE TAX (43,706 ) 98,070 (107,440 ) (53,076 ) Tax expense - (15,990 ) - (15,990 ) NET (LOSS)/PROFIT $ (43,706 ) $ 82,080 $ (107,440 ) $ (69,066 ) BioNexus Malaysia Chemrex BGLC Total Three months ended March 31, 2022 REVENUE $ 24,269 $ 3,004,676 $ - $ 3,028,945 COST OF REVENUE (8,038 ) (2,664,574 ) - (2,672,612 ) GROSS PROFIT 16,231 340,102 - 356,333 OTHER INCOME 2,076 44,306 12 46,394 OPERATING EXPENSES General and administrative (44,042 ) (297,769 ) (26,225 ) (368,036 ) (LOSS)/PROFIT FROM OPERATIONS (25,735 ) 86,639 (26,213 ) 34,691 FINANCE COSTS (799 ) (2,527 ) - (3,326 ) PROFIT/(LOSS) BEFORE TAX (52,269 ) 170,751 (52,426 ) 31,365 Tax expense - (14,299 ) - (14,299 ) NET PROFIT/(LOSS) $ (52,269 ) $ 502,730 $ (52,426 ) $ 17,066 BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2022 REVENUE $ 95,816 $ 10,832,891 $ - $ 10,928,707 COST OF REVENUE (51,465 ) (9,618,213 ) - (9,669,678 ) GROSS PROFIT 44,351 1,214,678 - 1,259,029 OTHER INCOME 8,830 170,453 - 179,283 OPERATING EXPENSES General and administrative (286,753 ) (1,051,855 ) (390,881 ) (1,729,489 ) FINANCE COSTS (5,657 ) (6,822 ) - (12,479 ) (LOSS)/PROFIT BEFORE TAX (239,229 ) 326,454 (390,881 ) (303,656 ) Tax expense: Deferred tax (1,428 ) (2,470 ) - (3,898 ) Income tax - (48,412 ) - (48,412 ) Total tax expense (1,428 ) (50,882 ) - (52,310 ) NET (LOSS)/PROFIT $ (240,657 ) $ 275,572 $ (390,881 ) $ (355,966 ) BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2021 REVENUE $ 1,515,673 $ 11,846,894 $ - $ 13,362,567 COST OF REVENUE (1,052,938 ) (10,042,688 ) - (11,095,626 ) GROSS PROFIT 462,735 1,804,206 - 2,266,941 OTHER INCOME 7,467 59,024 - 66,491 OPERATING EXPENSES General and administrative (160,094 ) (989,617 ) (127,894 ) (1,277,605 ) FINANCE COSTS (4,158 ) (8,815 ) - (12,973 ) PROFIT/(LOSS) BEFORE TAX 305,950 864,798 (127,894 ) 1,042,854 Tax expense: Deferred tax (11,997 ) (14,739 ) - (26,736 ) Income tax (30,482 ) (234,065 ) - (264,547 ) Total tax expense (42,479 ) (248,804 ) - (291,283 ) NET PROFIT/(LOSS) $ 263,471 $ 615,994 $ (127,894 ) $ 751,571 Total Assets Total Liabilities March 31, December 31, December 31, March 31, December 31, December 31, 2023 2022 2021 2023 2022 2021 BGLC & Bionexus $ 509,574 $ 677,477 $ 1,167,214 $ 93,034 $ 108,390 $ 121,586 Chemrex 7,677,067 8,062,685 8,407,176 1,536,699 1,966,759 2,273,025 TOTAL 8,186,641 8,740,162 9,574,390 1,629,733 2,075,149 2,394,611	BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2022 REVENUE $ 95,816 $ 10,832,891 $ - $ 10,928,707 COST OF REVENUE (51,465 ) (9,618,213 ) - (9,669,678 ) GROSS PROFIT 44,351 1,214,678 - 1,259,029 OTHER INCOME 8,830 170,453 - 179,283 OPERATING EXPENSES General and administrative (286,753 ) (1,051,855 ) (390,881 ) (1,729,489 ) FINANCE COSTS (5,657 ) (6,822 ) - (12,479 ) (LOSS)/PROFIT BEFORE TAX (239,229 ) 326,454 (390,881 ) (303,656 ) Tax expense: Deferred tax (1,428 ) (2,470 ) - (3,898 ) Income tax - (48,412 ) - (48,412 ) Total tax expense (1,428 ) (50,882 ) - (52,310 ) NET (LOSS)/PROFIT $ (240,657 ) $ 275,572 $ (390,881 ) $ (355,966 ) BioNexus Malaysia Chemrex BGLC Total Year ended December 31, 2021 REVENUE $ 1,515,673 $ 11,846,894 $ - $ 13,362,567 COST OF REVENUE (1,052,938 ) (10,042,688 ) - (11,095,626 ) GROSS PROFIT 462,735 1,804,206 - 2,266,941 OTHER INCOME 7,467 59,024 - 66,491 OPERATING EXPENSES General and administrative (160,094 ) (989,617 ) (127,894 ) (1,277,605 ) FINANCE COSTS (4,158 ) (8,815 ) - (12,973 ) PROFIT/(LOSS) BEFORE TAX 305,950 864,798 (127,894 ) 1,042,854 Tax expense: Deferred tax (11,997 ) (14,739 ) - (26,736 ) Income tax (30,482 ) (234,065 ) - (264,547 ) Total tax expense (42,479 ) (248,804 ) - (291,283 ) NET PROFIT/(LOSS) $ 263,471 $ 615,994 $ (127,894 ) $ 751,571 As of December 31, 2022 and 2021 Total Assets Total Liabilities 2022 2021 2022 2021 BGLC & Bionexus $ 677,477 $ 1,167,214 $ 108,390 $ 121,586 Chemrex 8,062,685 8,407,176 1,966,759 2,273,025 TOTAL 8,740,162 9,574,390 2,075,149 2,394,611

ORGANIZATION AND BUSINESS BAC_2

ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative) - $ / shares		3 Months Ended	12 Months Ended
	Apr. 12, 2022	Mar. 31, 2023	Dec. 31, 2022
Sale of common stock	2,500,000
Sale of Stock, Price Per Share	$ 0.06
Chemrex Corporation Sdn. Bhd. [Member]
Business Acquisition, Percentage of Voting Interests Acquired			100%
Business aquisition, shares converted		68,487,261	68,487,261
BGS Lab Sdn. Bhd [Member]
Business Acquisition, Percentage of Voting Interests Acquired			100%
Business acquisition, business operation description		The principal office address is Unit 02 Level 10, Tower B, Vertical Business Suite, No. 8 Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia, our lab is located at Lab 353, Chemical Science Centre, University Science Malaysia, George Town, Penang, Malaysia. We also have a blood collection center located at 1st floor, Lifecare Medical Centre, Kuala Lumpur, Malaysia.	The principal office address is Unit 02 Level 10, Tower B, Vertical Business Suite, No. 8 Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia, our lab is located at Lab 353, Chemical Science Centre, University Science Malaysia, George Town, Penang, Malaysia. We also have a blood collection center located at 1st floor, Lifecare Medical Centre, Kuala Lumpur, Malaysia
Business Acquisition, Effective Date of Acquisition		Aug. 23, 2017	Aug. 23, 2017

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2023	Dec. 31, 2022
Equipment [Member]
Principal Annual Rates	20%	20%
Buildings [Member]
Principal Annual Rates	2%	2%
Computer and Software [Member]
Principal Annual Rates	33%	33%
Furniture and Fittings [Member] | Minimum [Member]
Principal Annual Rates		10%
Furniture and Fittings [Member] | Minimum [Member]
Principal Annual Rates	10%
Furniture and Fittings [Member] | Maximum [Member]
Principal Annual Rates	20%	20%
Lab Equipment [Member]
Principal Annual Rates	10%	10%
Motor Vehicle [Member] | Minimum [Member]
Principal Annual Rates	10%	10%
Motor Vehicle [Member] | Maximum [Member]
Principal Annual Rates	20%	20%
Office Equipment [Member]
Principal Annual Rates	20%	20%
Renovation [Member] | Minimum [Member]
Principal Annual Rates	10%	10%
Renovation [Member] | Maximum [Member]
Principal Annual Rates	20%	20%
Signboard [Member]
Principal Annual Rates	10%	10%
Air Conditioner [Member]
Principal Annual Rates	20%	20%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Period ended March 31, 2023 /Year-ended December 31, 2022 US$1: MYR exchange rate	4.4170		4.3900
3 months average US$1: MYR exchange rate	4.3968	4.1938
Year-end US$1.00: MYR exchange rate			4.3900	4.1650
Yearly average US$1.00: MYR exchange rate			4.3996	4.1456

TRADE RECEIVABLES (Details Narr

TRADE RECEIVABLES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-interest bearing	The normal trade credit term is generally on 30 days to 90 days term.	The account receivables are non-interest bearing and is generally on 30 days to 90 days term
Interest rate	6%
Bad debts written off		$ 4,165	$ 3,809
Trade Receivable
Bad debts written off		$ 12,600	$ 3,809

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Recoverable		$ (31,551)	$ 0
Income tax liabilities		0	97,585
Deferred tax liabilities		30,866	28,416
Total	$ 2,855	(685)	126,001
Local [Member]
Tax Recoverable	0	0	0
Income tax liabilities	0	0	0
Deferred tax liabilities	0	0	0
Malaysia [Member]
Tax Recoverable	(27,823)	(31,551)	0
Income tax liabilities	0	0	97,585
Deferred tax liabilities	$ 30,678	$ 30,866	$ 28,416

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - Malaysia [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Statutory income tax rate	24%	24%
Statutory income tax rate, description	Under the amendment of Income Tax Act 1967 by the Finance Act 2020 and with effect from year of assessment 2020, companies with paid-up capital of RM2.5 million or less, and with annual business income of not more than RM50 million are subject to Small and Medium Enterprise Corporate Tax at 17% on chargeable income up to RM600,000 (2021: RM600,000) except for companies with investment holding nature or companies does not have gross income from business sources are subject to corporate tax at 24% on chargeable income.	Under the amendment of Income Tax Act 1967 by the Finance Act 2020 and with effect from year of assessment 2020, companies with paid-up capital of MYR2.5 million or less, and with annual business income of not more than RM50 million are subject to Small and Medium Enterprise Corporate Tax at 17% on chargeable income up to MYR600,000 (2021: MYR600,000) except for companies with investment holding nature or companies does not have gross income from business sources are subject to corporate tax at 24% on chargeable income

OPERATING LEASE RIGHT OF USE _3

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Beginning Balance	$ 55,730	$ 41,090
Add;Addition of lease liabilities	0	32,281
Less: Amortization	(3,954)
Foreign translation differences	(341)
Ending Balance	51,436	55,730	$ 41,090
Operating Lease Right of Use [Member]
Beginning Balance	$ 55,730	41,090	62,529
Less: Amortization		(15,534)	(18,305)
Foreign translation differences		(2,107)	(2,221)
Add: Addition of right of use assets		32,281	0
Ending Balance		55,730	41,090
Reduction due to discount on rental		$ 0	$ (913)

OPERATING LEASE RIGHT OF USE _4

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign translation differences	$ (341)
Lease liabilities non-current portion	35,676	$ 40,206	$ 24,637
Operating lease liability [Member]
Add: Addition of lease liabilities		30,770	0
Less: gross repayment	(4,875)	(19,618)	(16,856)
Add: imputed interest	855	4,913	2,704
Foreign translation differences	(346)	(2,199)	(5,046)
Ending Balance	52,409	56,775	42,909
Beginning Balance	56,775	42,909	63,079
Less: lease liabilities current portion	(16,733)	(16,569)	(18,272)
Less: Discount on rental		0	(972)
Lease liabilities non-current portion	$ 35,676	$ 40,206	$ 24,637

OPERATING LEASE RIGHT OF USE _5

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Details 2) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES
2022	$ 0	$ 18,272
2023	16,569	11,987
2024	17,048	12,650
2025	11,209	0
2026	11,949	0
Total	$ 56,775	$ 42,909

OPERATING LEASE RIGHT OF USE _6

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Details 3) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES
Operating cash flow from operating lease	$ (4,366)	$ (126,686)	$ (20,169)
Right of use assets obtained in exchange for operating lease liabilities	$ 51,436	$ 55,730	$ 41,090
Cash paid for amounts included in the measurement of lease liabilities:
Remaining lease term for operating lease (years)	3 years 9 months	4 years	2 years
Weighted average discount rate for operating lease	6.40%	6.40%	5.40%

OPERATING LEASE RIGHT OF USE _7

OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Amortization of right of use asset	$ 3,972	$ 4,341	$ 13,992	$ 16,933
Lease expenses	$ 855		$ 4,913	$ 2,704
Malayan Banking [Member]
Rental payment discount rate	6.40%		6.40%

PROPERTY PLANT AND EQUIPMENT (D

PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total Plant and equipment		$ 2,262,603	$ 2,208,432
Less: Accumulated amortization	$ (611,214)	(616,913)	(525,631)
Add: Foreign translation differences	(169,724)	(133,982)	(48,383)
Property, plant and equipment, net	1,481,767	1,511,708	1,634,418
Equipment [Member]
Total Plant and equipment	60,525	60,525	43,010
Computer and Software [Member]
Total Plant and equipment	2,516	2,516	1,814
Lab Equipment [Member]
Total Plant and equipment	320,102	320,102	284,822
Office Equipment [Member]
Total Plant and equipment	38,213	38,213	37,700
Signboard [Member]
Total Plant and equipment	806	704	704
Air Conditioner [Member]
Total Plant and equipment	1,124	1,124	1,124
Furniture and fittings [Member]
Total Plant and equipment	87,122	87,122	86,961
Land and buildings [Member]
Total Plant and equipment	1,506,969	1,506,969	1,506,969
Motor Vehicle [Member]
Total Plant and equipment	137,914	137,914	137,914
Renovation [Member]
Total Plant and equipment	$ 107,414	$ 107,414	$ 107,414

PROPERTY PLANT AND EQUIPMENT _2

PROPERTY PLANT AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
PROPERTY PLANT AND EQUIPMENT
Depreciation expense	$ 20,897	$ 22,307	$ 91,427	$ 91,282

OTHER INVESTMENTS (Details)

OTHER INVESTMENTS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OTHER INVESTMENTS
As of beginning of the year	$ 1,150,898	$ 749,027	$ 281,668
Addition during the year	13,646	511,706	515,840
Acquisition of business under common control		0	0
Disposal during the year	0	0	(6,392)
Fair value loss	37,399	(70,628)
Written off during the year		(1,776)	0
Foreign exchange translation	(7,268)	(37,431)	(12,239)
Fair value gain		(70,628)	(29,850)
As of end of the year	$ 1,194,675	$ 1,150,898	$ 749,027

OTHER INVESTMENTS (Details 1)

OTHER INVESTMENTS (Details 1) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other investment	$ 1,194,675	$ 1,150,898	$ 749,027
Total investments		1,150,898	747,152
Malaysia [Member]
Other investment	689,531	659,970	590,788
Singapore [Member]
Other investment	94,757	101,426	97,780
Hong Kong [Member]
Other investment	$ 410,387	389,502	58,584
Malaysia 1 [Member]
Other investment		$ 0	$ 1,875

CONCENTRATION OF RISKS (Details

CONCENTRATION OF RISKS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Concentration of risk purchase			$ 5,518,996	$ 6,438,445
Percentage of purchases			57.06%	58.03%
Accounts payable trade			$ 1,412,868	$ 1,714,428
Vendor A [Member]
Concentration of risk purchase	$ 410,208	$ 504,906	$ 1,497,142	$ 1,815,817
Percentage of purchases			15.48%	16.37%
Accounts payable trade	408,334	502,559	$ 147,376	$ 397,636
Vendor B [Member]
Concentration of risk purchase	314,739	333,751	1,425,867	1,404,442
Accounts payable trade	$ 313,300	$ 332,200	389,697	405,999
Percentage of purchases	15.67%	12.49%
Vendor C [Member]
Concentration of risk purchase	$ 213,965	$ 449,494	1,424,476	2,026,842
Accounts payable trade	$ 199,312	$ 178,749	509,031	640,827
Percentage of purchases	10.65%	16.82%
Vendor D [Member]
Concentration of risk purchase			$ 1,171,511	$ 1,191,344
Percentage of purchases			12.11%	10.74%
Accounts payable trade			$ 366,764	$ 269,966

CONCENTRATION OF RISKS (Detai_2

CONCENTRATION OF RISKS (Details Narrative)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Concentration of risk			57.06%	58.03%
Major Customer [Member]
Concentration of risk			10%	10%
Concentration of risk of credit risk	10%	10%
Major Suppliers [Member]
Concentration of risk			10%
Concentration of risk of credit risk	10%	10%

STOCK HOLDERS EQUITY (Details N

STOCK HOLDERS EQUITY (Details Narrative) - $ / shares	Apr. 12, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
STOCKHOLDERS EQUITY
Common stock, shares issued		173,718,152	173,718,152	171,218,152	171,218,152
Common stock, shares outstanding		173,718,152	173,718,152	171,218,152	171,218,152
Sale of common stock	2,500,000
Sale of Stock, Price Per Share	$ 0.06

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
REVENUE	$ 2,377,205	$ 3,028,945	$ 10,928,707	$ 13,362,567
COST OF REVENUE	(2,008,308)	(2,672,612)	(9,669,678)	(11,095,626)
GROSS PROFIT	368,897	356,333	1,259,029	2,266,941
OTHER INCOME	117,344	46,394	179,283	66,491
(LOSS)/PROFIT FROM OPERATIONS	(50,631)	34,691	(291,177)	1,055,827
FINANCE COSTS	(2,445)	(3,326)	(12,479)	(12,973)
(LOSS)/PROFIT BEFORE TAX	(53,076)	31,365	(303,656)	1,042,854
Tax expense	(15,990)	(14,299)	52,310	291,283
NET PROFIT/(LOSS)	(69,066)	17,066	(355,966)	751,571
General and administrative			(1,729,489)	(1,277,605)
FINANCE COSTS			(12,479)	(12,973)
PROFIT/(LOSS) BEFORE TAX			(303,656)	1,042,854
Deferred tax			(3,898)	(26,736)
Income tax			(48,412)	(264,547)
Total tax expense	15,990	14,299	(52,310)	(291,283)
BioNexus Malaysia [Member]
REVENUE	7,436	24,269	95,816	1,515,673
COST OF REVENUE	(5,347)	(8,038)	(51,465)	(1,052,938)
GROSS PROFIT	2,089	16,231	44,351	462,735
OTHER INCOME	1,126	2,076	8,830	7,467
(LOSS)/PROFIT FROM OPERATIONS	(43,040)	(25,735)
(LOSS)/PROFIT BEFORE TAX	(43,706)	(52,269)
Tax expense			1,428	42,479
NET PROFIT/(LOSS)	(43,706)	(52,269)	(240,657)	263,471
General and administrative	(46,255)	(44,042)	(286,753)	(160,094)
FINANCE COSTS			(5,657)	(4,158)
PROFIT/(LOSS) BEFORE TAX			(239,229)	305,950
Deferred tax			(1,428)	(11,997)
Income tax				(30,482)
Total tax expense			(1,428)	(42,479)
Chemrex [Member]
REVENUE	2,369,769	3,004,676	10,832,891	11,846,894
COST OF REVENUE	(2,002,961)	(2,664,574)	(9,618,213)	(10,042,688)
GROSS PROFIT	366,808	340,102	1,214,678	1,804,206
OTHER INCOME	116,218	44,306	170,453	59,024
(LOSS)/PROFIT FROM OPERATIONS	99,849	86,639
(LOSS)/PROFIT BEFORE TAX	98,070	170,751
Tax expense	(15,990)	(14,299)	50,882	248,804
NET PROFIT/(LOSS)	82,080	502,730	275,572	615,994
General and administrative	(383,177)	(297,769)	(1,051,855)	(989,617)
FINANCE COSTS			(6,822)	(8,815)
PROFIT/(LOSS) BEFORE TAX			326,454	864,798
Deferred tax			(2,470)	(14,739)
Income tax			(48,412)	(234,065)
Total tax expense	15,990	14,299	(50,882)	(248,804)
BGLC [Member]
REVENUE			0	0
COST OF REVENUE			0	0
GROSS PROFIT			0
OTHER INCOME		12	0	0
(LOSS)/PROFIT FROM OPERATIONS	107,440	(26,213)
(LOSS)/PROFIT BEFORE TAX	107,440	(52,426)
NET PROFIT/(LOSS)	(107,440)	(52,426)	(390,881)	(127,894)
General and administrative	$ (107,440)	$ (26,225)	(390,881)	(127,894)
FINANCE COSTS			0	0
PROFIT/(LOSS) BEFORE TAX			$ (390,881)	$ (127,894)

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details 1) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total assets	$ 8,186,641	$ 8,740,162	$ 9,574,390
Total Liabilities	1,629,733	2,075,149	2,394,611
Chemrex [Member]
Total assets	7,677,067	8,062,685	8,407,176
Total Liabilities	1,536,699	1,966,759	2,273,025
BGLC & Bionexus [Member]
Total assets	509,574	677,477	1,167,214
Total Liabilities	$ 93,034	$ 108,390	$ 121,586