As of March 31, 2025 and June 30, 2024, the amount
due from (due to) related parties consisted of:
SCHEDULE OF AMOUNT DUE FROM (DUE TO) RELATED PARTIES
| | |
March 31,
2025 | |
June 30,
2024 |
| | |
| |
|
| Due from Invent Fortune Sdn. Bhd. (4) | |
$ | (274,046 | ) | |
$ | 1,001,561 | |
| Due from Invent Fortune Sdn. Bhd. | |
$ | (274,046 | ) | |
$ | 1,001,561 | |
| Payable to Luo Xiong and Wo Kuk Ching (1) | |
| (1,151,727 | ) | |
| (954,566 | ) |
| Payable to Empower International Trading (2) | |
| (502,828 | ) | |
| (1,413,058 | ) |
| Payable to TLC Global International Trading (3) | |
| (773,301 | ) | |
| (726,947 | ) |
| Total due to related parties, net | |
$ | (2,701,902 | ) | |
$ | (2,093,010 | ) |
The amounts due from and payable to related parties
are unsecured, non-interest bearing, and payable on demand. The Company has the right to offset amounts with related parties controlled
by the same common control group.
| |
(1) |
Luo Xiong and spouse Wo Kuk Ching and their immediate family members own 90% of the Company’s common stock. |
| |
(2) |
Entity controlled 100% by Luo Xiong |
| |
(3) |
Entity controlled 100% by Wong Ching Wing, daughter of Luo Xiong and Wo Kuk Ching |
| |
(4) |
Entity controlled 83% by Luo Xiong and spouse Wo Kuk Ching. |
|