v3.25.2
Loans from Third Parties
12 Months Ended
Sep. 30, 2024
Loans from Third Parties [Abstract]  
Loans from Third Parties

Note 8 – Loans from Third Parties

 

The Company obtained loans of $533,721 (RM 2,200,000) from external parties Mr. Goh Meng Keong and Mr. Goh Seng Wei, to fund the acquisition of Graphene Patent, and in return they charged the Company with interest, in accordance with arm’s length transaction principle. For the years ended September 30, 2024 and 2023, there were interest expenses of $23,657 and $35,482, respectively. The principal amount, maturity date and interest rate for the loans are shown below:

 

   September 30,   September 30, 
   2024   2023 
Total interest payable  $66,905   $35,482 
Total debt and interest payable  $600,626   $510,234 

  

Lender  Principle   Interest rate  Lending date  Due date
Goh Meng Keong  $485,201   5% p.a  March 22, 2022  September 30, 2025
Goh Seng Wei  $48,520   5% p.a  May 26, 2022  November 25, 2024