| SCHEDULE OF SUMMARIZED FINANCIAL INFORMATION |
The
changes in the performance results for the six months ended June 30, 2025, and 2024 by reportable segment / business unit are as follows:
SCHEDULE OF SUMMARIZED FINANCIAL INFORMATION
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
For the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Revenues from external customers | |
$ | 672,757 | | |
$ | 737,337 | | |
| (64,580 | ) | |
| (9 | )% |
| Revenues from related parties | |
| 33,353 | | |
| 239,085 | | |
| (205,732 | ) | |
| (86 | )% |
| Cost of revenues | |
| (170,276 | ) | |
| (110,708 | ) | |
| (59,568 | ) | |
| 54 | % |
| General and administrative expenses | |
| (1,668,435 | ) | |
| (1,941,790 | ) | |
| 273,355 | | |
| (14 | )% |
| Loss from operations | |
$ | (1,132,601 | ) | |
$ | (1,076,076 | ) | |
| (56,525 | ) | |
| 5 | % |
The
changes in equity-method investments, total assets, and capital expenditures for long-lives assets for the period ended June 30, 2025,
and 2024 by reportable segment / business unit are as follows:
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
As of and for the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Investments in equity-method investees | |
$ | 12,073 | | |
$ | 99,586 | | |
| (87,513 | ) | |
| (88 | )% |
| | |
| | | |
| | | |
| | | |
| | |
| Total assets | |
$ | 4,796,630 | | |
$ | 5,753,149 | | |
| (956,519 | ) | |
| (17 | )% |
| | |
| | | |
| | | |
| | | |
| | |
| Expenditures for additions to long-lived assets | |
$ | - | | |
$ | 4,400 | | |
| (4,400 | ) | |
| (100 | )% |
Digital
business
The
changes in the performance results for the six months ended June 30, 2025, and 2024 by reportable segment / business unit are as follows:
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
For the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Revenues from external customers | |
$ | 44,177 | | |
$ | - | | |
| 44,177 | | |
| - | % |
| Revenues from related parties | |
| - | | |
| - | | |
| - | | |
| - | % |
| Cost of revenues | |
| (1 | ) | |
| - | | |
| (1 | ) | |
| - | % |
| General and administrative expenses | |
| (220,643 | ) | |
| - | | |
| (220,643 | ) | |
| - | % |
| Loss from operations | |
$ | (176,467 | ) | |
$ | - | | |
| (176,467 | ) | |
| - | % |
The
changes in equity-method investments, total assets, and capital expenditures for long-lives assets for the period ended June 30, 2025,
and 2024 by reportable segment / business unit are as follows:
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
As of and for the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Investments in equity-method investees | |
$ | - | | |
$ | - | | |
| - | | |
| - | % |
| | |
| | | |
| | | |
| | | |
| | |
| Total assets | |
$ | 761,745 | | |
$ | - | | |
| 761,745 | | |
| - | % |
| | |
| | | |
| | | |
| | | |
| | |
| Expenditures for additions to long-lived assets | |
$ | - | | |
$ | - | | |
| - | | |
| - | % |
Real
estate business
The
changes in the performance results for the six months ended June 30, 2025, and 2024 by reportable segment / business unit are as follows:
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
For the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Revenues from external customers | |
$ | 29,560 | | |
$ | 43,151 | | |
| (13,591 | ) | |
| (31 | )% |
| Revenues from related parties | |
| - | | |
| - | | |
| - | | |
| - | % |
| Cost of revenues | |
| (7,169 | ) | |
| (12,890 | ) | |
| 5,721 | | |
| (44 | )% |
| General and administrative expenses | |
| (3,917 | ) | |
| (29,518 | ) | |
| 25,601 | | |
| (87 | )% |
| Income from operations | |
$ | 18,474 | | |
$ | 743 | | |
| 17,731 | | |
| 2,386 | % |
The
changes in equity-method investments, total assets, and capital expenditures for long-lives assets for the period ended June 30, 2025,
and 2024 by reportable segment / business unit are as follows:
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| | |
As of and for the six months ended
June 30, | | |
Change | |
| | |
2025 | | |
2024 | | |
$ | | |
% | |
| Investments in equity-method investees | |
$ | - | | |
$ | - | | |
| - | | |
| - | % |
| | |
| | | |
| | | |
| | | |
| | |
| Total assets | |
$ | 996,902 | | |
$ | 1,003,722 | | |
| (6,820 | ) | |
| (1 | )% |
| | |
| | | |
| | | |
| | | |
| | |
| Expenditures for additions to long-lived assets | |
$ | - | | |
$ | - | | |
| - | | |
| - | % |
(b)
By Geography
The
Company principally operates in three regions, including Hong Kong, Malaysia and China.
The
distribution of revenues and significant expenses for the six months ended June 30, 2025 by region is as follows:
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
For the six months ended June 30, 2025 | | |
| |
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
| | |
| | |
| | |
| |
| Revenues from external customers | |
$ | 473,423 | | |
$ | 141,963 | | |
$ | 131,108 | | |
$ | 746,494 | |
| Revenues from related parties | |
| 11,960 | | |
| 21,393 | | |
| - | | |
| 33,353 | |
| Cost of revenues | |
| (69,951 | ) | |
| (55,967 | ) | |
| (51,528 | ) | |
| (177,446 | ) |
| Advertising and marketing expenses | |
| (56,726 | ) | |
| - | | |
| (9,858 | ) | |
| (66,584 | ) |
| Audit, legal and other professional fees | |
| (178,494 | ) | |
| (4,540 | ) | |
| (9,054 | ) | |
| (192,088 | ) |
| Consulting fees | |
| (42,488 | ) | |
| (58,577 | ) | |
| - | | |
| (101,065 | ) |
| Depreciation and amortization | |
| (51,022 | ) | |
| (17,410 | ) | |
| (51,006 | ) | |
| (119,438 | ) |
| Directors’ salaries and compensation | |
| (333,815 | ) | |
| - | | |
| - | | |
| (333,815 | ) |
| Staff costs including salaries and allowances, pensions, and other benefits | |
| (438,859 | ) | |
| (141,314 | ) | |
| (184,275 | ) | |
| (764,448 | ) |
| IT and computer expenses | |
| (4,725 | ) | |
| (101,740 | ) | |
| (1,562 | ) | |
| (108,027 | ) |
| Other general and administrative expenses | |
| (127,247 | ) | |
| (60,715 | ) | |
| (19,568 | ) | |
| (207,530 | ) |
| Loss from operations | |
$ | (817,944 | ) | |
$ | (276,907 | ) | |
$ | (195,743 | ) | |
$ | (1,290,594 | ) |
The
distribution of investments in equity-method investees and total assets as of June 30, 2025, and expenditures for long-lived assets for
the six months ended June 30, 2025, respectively, by region is as follows:
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
As of and for the six months ended June 30, 2025 | | |
| |
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
| | |
| | |
| | |
| |
| Investments in equity-method investments | |
$ | 12,073 | | |
$ | - | | |
$ | - | | |
$ | 12,073 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total assets | |
$ | 2,935,777 | | |
$ | 1,413,919 | | |
$ | 2,205,581 | | |
$ | 6,555,277 | |
| | |
| | | |
| | | |
| | | |
| | |
| Expenditures for additions to long-lived assets | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
The
distribution of revenues and significant expenses for the six months ended June 30, 2024, by region is as follows:
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
For the six months ended June 30, 2024 | | |
| |
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
| | |
| | |
| | |
| |
| Revenues from external customers | |
$ | 454,338 | | |
$ | 209,432 | | |
$ | 116,718 | | |
$ | 780,488 | |
| Revenues from related parties | |
| 189,373 | | |
| 49,712 | | |
| - | | |
| 239,085 | |
| Cost of revenues | |
| (8,937 | ) | |
| (89,218 | ) | |
| (25,443 | ) | |
| (123,598 | ) |
| Advertising and marketing expenses | |
| (73,906 | ) | |
| (32,592 | ) | |
| (12,423 | ) | |
| (118,921 | ) |
| Audit, legal and other professional fees | |
| (125,569 | ) | |
| (3,984 | ) | |
| - | | |
| (129,553 | ) |
| Consulting fees | |
| (6,387 | ) | |
| (108,286 | ) | |
| - | | |
| (114,673 | ) |
| Depreciation and amortization | |
| (50,528 | ) | |
| (20,037 | ) | |
| (52,056 | ) | |
| (122,621 | ) |
| Directors’ salaries and compensation | |
| (336,579 | ) | |
| - | | |
| - | | |
| (336,579 | ) |
| Staff costs including salaries and allowances, pensions, and other benefits | |
| (425,095 | ) | |
| (145,612 | ) | |
| (179,704 | ) | |
| (750,411 | ) |
| IT and computer expenses | |
| (5,543 | ) | |
| (78,790 | ) | |
| (2,424 | ) | |
| (86,757 | ) |
| Other general and administrative expenses | |
| (233,876 | ) | |
| (58,947 | ) | |
| (18,970 | ) | |
| (311,793 | ) |
| Loss from operations | |
$ | (622,709 | ) | |
$ | (278,322 | ) | |
$ | (174,302 | ) | |
$ | (1,075,333 | ) |
The
distribution of investments in equity-method investees and total assets as of June 30, 2024, and expenditures for long-lived assets for
the six months ended June 30, 2024, respectively, by region is as follows:
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
As of and for the six months ended June 30, 2024 | | |
| |
| | |
Hong Kong | | |
Malaysia | | |
China | | |
Total | |
| | |
| | |
| | |
| | |
| |
| Investments in equity-method investments | |
$ | 99,586 | | |
$ | - | | |
$ | - | | |
$ | 99,586 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total assets | |
$ | 2,899,035 | | |
$ | 1,363,301 | | |
$ | 2,494,535 | | |
$ | 6,756,871 | |
| | |
| | | |
| | | |
| | | |
| | |
| Expenditures for additions to long-lived assets | |
$ | - | | |
$ | 4,400 | | |
$ | - | | |
$ | 4,400 | |
|