Related party balances and transactions |
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| Related party balances and transactions | Note 14 - Related party balances and transactions The following is a list of related parties which the Company has balances and transactions with:
As of December 31, 2024 and 2023, the balance of trade receivables from related party was as follows:
The balances represented the trade receivables from related party for the insurance referral service rendered by the Company. For details, please refer to “f. Related Party Transactions” below.
As of December 31, 2024 and 2023 no balances of amount due from the related party.
As of December 31, 2024 and 2023, no balances of accounts payable to related party.
On December 8, 2023 and April 9, 2024, Ms Kwok Kai Kai Clara (the beneficiary owner of Prime Ocean Holdings Limited), a shareholder of the Company loaned $1.92 million and $0.38 to Giant Credit Limited. The loan is unsecured, non-interest bearing and repayable on demand. As of December 31, 2024, $0.76 was repaid and the amount due to Ms Kwok Kai Kai Clara was $1.54 million.
The balance of amount due from/to the director, the former director and the former shareholder were unsecured, interest-free and repayable on demand.
The following are the related party transactions for the years ended December 31, 2024 and 2023.
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