| NOTE 13 - BANK LOANS |
NOTE 13 – BANK LOANS
Bank loans are summarized below:
|
| March 31,
2025
|
| December 31,
2024
|
|
Bank loans
| $
| 1,866,098
|
| $
| 2,503,548
|
|
Less: short term portion
|
| (1,866,098
| )
|
| (2,503,548
| )
|
Long term portion
| $
| -
|
| $
| -
|
|
Bank loans as of March 31, 2025 consisted of the followings:
| Bank
|
| March 31,
2025
|
| Interest rate per annum (%)
|
| Maturity date
|
|
| Bank loans in original currency
|
| Ant Bank (Macau) Limited
| $
| 373,020
|
| 5.50
|
| August 8, 2025
| (2)
|
| MOP
| 2,986,890
|
| Agricultural Bank of China
|
| 137,563
|
| 3.50
|
| December 5, 2025
| (2)
|
| RMB
| 1,000,000
|
| Agricultural Bank of China
|
| 255,012
|
| 3.50
|
| February 9, 2026
| (2)
|
| RMB
| 1,853,785
|
| Bank of China
|
| 54,139
|
| 3.15
|
| December 11, 2025
| (1)
|
| RMB
| 393,557
|
| Bank of China
|
| 367,317
|
| 3.40
|
| August 9, 2025
| (1)
|
| RMB
| 2,670,174
|
| Bank of China
|
| 407,982
|
| 3.50
|
| July 8, 2025
| (1)
|
| RMB
| 2,965,783
|
| Bank of China
|
| 271,065
|
| 3.50
|
| June 21, 2025
| (1)
|
| RMB
| 1,970,486
|
|
| $
| 1,866,098
|
|
|
|
|
|
|
|
|
The bank loan from Industrial and Commercial Bank of China (Macau) amounted to $18,732 with original maturity date July 31, 2025 has been fully repaid early on March 10, 2025.
The loans outstanding were guaranteed by:
(1) Guaranteed by Mr. Jiang Haitao, the sole director of the Company and Ms. Zhou Xiaojuan, the spouse of Mr. Jiang Haitao.
(2) Guaranteed by Mr. Jiang Haitao, the sole director of the Company.
Bank loans as of December 31, 2024 consisted of the followings:
| Bank
|
| December 31, 2024
|
| Interest rate per annum (%)
|
| Maturity date
|
|
| Bank loans in original currency
|
| Industrial and Commercial Bank of China (Macau)
| $
| 18,732
|
| 4.25
|
| July 31, 2025
| (1)
|
| MOP
| 150,000
|
| Ant Bank (Macau) Limited
|
| 1,248,841
|
| 5.50
|
| August 8, 2025
| (2)
|
| MOP
| 10,000,000
|
| Agricultural Bank of China
|
| 137,330
|
| 3.50
|
| December 5, 2025
| (2)
|
| RMB
| 1,000,000
|
| Bank of China
|
| 54,047
|
| 3.15
|
| December 11, 2025
| (1)
|
| RMB
| 393,557
|
| Bank of China
|
| 366,697
|
| 3.40
|
| August 9, 2025
| (1)
|
| RMB
| 2,670,174
|
| Bank of China
|
| 407,293
|
| 3.50
|
| July 8, 2025
| (1)
|
| RMB
| 2,965,783
|
| Bank of China
|
| 270,608
|
| 3.50
|
| June 21, 2025
| (1)
|
| RMB
| 1,970,486
|
|
| $
| 2,503,548
|
|
|
|
|
|
|
|
|
The loans outstanding were guaranteed by:
(1) Guaranteed by Mr. Jiang Haitao, the sole director of the Company and Ms. Zhou Xiaojuan, the spouse of Mr. Jiang Haitao.
(2) Guaranteed by Mr. Jiang Haitao, the sole director of the Company.
|