RELATED PARTY TRANSACTIONS |
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| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS | 17. RELATED PARTY TRANSACTIONS
From time to time, the directors of the Company advanced funds to the Company for capital expenditures and working capital purpose. Those temporary advances are unsecured, non-interest bearing and have no fixed terms of repayment.
Nature of relationships with related parties
Related party balances consisted of the following:
As at December 31, 2025 and 2024, these amounts due to director and shareholder represented the cash advances from these related parties to the Company for working capital purposes. These balances due are unsecured, interest free and repayable on demand.
Related party transactions consisted of the following:
In the ordinary course of business, during the periods presented, the Company has involved with transactions, either at cost or current market price and on the normal commercial terms among related parties. The following table provides the transactions with these parties for the periods as presented (for the portion of such period that they were considered related):
For the years ended December 31, 2025 and 2024, the Company paid delivery service fees of $17,845 and $0 to KSK Asia (Hong Kong) Limited, a related company held by a director of the Company. The delivery services were charged at current market price and conducted on normal commercial terms among related parties.
For the years ended December 31, 2025 and 2024, the Company paid salaries of $12,475 and $24,223 to Chan Sze Yu, the Director of the Company.
For the years ended December 31, 2025 and 2024, the Company paid salaries of $41,980 and $24,223 to Fong Hiu Ching, the Director of the Company.
For the years ended December 31, 2025 and 2024, the Company paid salaries of $83,832 and $0 to Young Chi Kin Eric, the individual shareholder of the Company.
Apart from the transactions and balances detailed elsewhere in these accompanying consolidated financial statements, the Company has no other significant or material related party transactions during the years presented.
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