VARIABLE INTEREST ENTITY (“VIE”)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VARIABLE INTEREST ENTITY (“VIE”)

3. VARIABLE INTEREST ENTITY (“VIE”)

SEA is a trading company incorporated on March 4, 2004, under the laws of Malaysia. SEA provided majority of ASL’s purchases. The income generated was insufficient to finance its activities and 100% of its business is transacted with ASL. Therefore, it was considered to be a VIE and ASL is the primary beneficiary since it has both of the following characteristics:

	a.	The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and
	b.	The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.

Accordingly, the accounts of SEA is consolidated in the accompanying financial statements.

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

3. VARIABLE INTEREST ENTITY (“VIE”) (CONT’D)

The carrying amount of the VIE’s assets and liabilities were as follows:

SCHEDULE OF VARIABLE INTEREST ENTITY

		2025				2024
		As of December 31,
		2025				2024

Current assets:
Cash		$	257			$	1,139
Prepayment and deposits			-				7
Total current assets		$	257			$	1,146

Current liabilities:
Other payables and accrued liabilities			1,631				1,478
Total current liabilities		$	1,631			$	1,478

Net deficit		$	(1,374	)		$	(332	)

The summarized operating results of the VIE’s are as follows:

		2025				2024
		For the years ended December 31,
		2025				2024

Operating revenues		$	-			$	-
Gross profit		$	-			$	-
Loss from operations		$	(957	)		$	(1,231	)
Net loss		$	(957	)		$	(1,231	)