| RELATED PARTY BALANCES AND TRANSACTIONS |
14.
RELATED PARTY BALANCES AND TRANSACTIONS
Related
party balances
SCHEDULE
OF RELATED PARTY BALANCES AND TRANSACTIONS
Amount
due from related parties
| | |
| |
| |
As
of December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| TH3 Holdings
Sdn Bhd (“TH3”) | |
Mr. How Kok Choong, the CEO and
director of the Company is also a director of TH3 | |
Prepayment
of IT expenses | |
$ | 1,849 | | |
$ | 1,582 | |
| DSY Wellness & Longevity
Center Sdn Bhd (“DSYWLC”) | |
Mr. Yap Foo Ching (Steve Yap), a director
of DSY Wellness International Sdn Bhd is also a director of DSYWLC. | |
General expenses payment
on behalf | |
| 494 | | |
| - | |
| ATPC Lega Global Sdn Bhd
(“Lega”) | |
Mr. How Kok Choong,
the CEO and director of the Company is also a director of Lega | |
General
expenses payment on behalf | |
| - | | |
| 730 | |
| Total | |
| |
| |
$ | 2,343 | | |
$ | 2,312 | |
Accounts
payable – related parties
| | |
| |
| |
As
of December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| CTA Nutriceuticals
(Asia) Sdn Bhd (“CTA”) | |
The directors and shareholders
of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd | |
Purchases
of products for the provision of complementary health therapies | |
$ | 37,642 | | |
$ | 30,554 | |
| SY Welltech Sdn Bhd (“Welltech”)
(formerly known as DSY Beauty Sdn Bhd) | |
The directors and shareholders of Welltech
are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd | |
Purchases
of beauty products | |
| 998 | | |
| 71 | |
Institute of Complementary
and Traditional Medicine (“ICTM”) | |
Mr. Yap Foo Ching, the
director of DSY Wellness International Sdn Bhd is also a chairman of Institute of Complementary and Traditional Medicine. | |
Rental
of diagnostic & medical equipment | |
| 9,882 | | |
| - | |
| Total | |
| |
| |
$ | 48,522 | | |
$ | 30,625 | |
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
14.
RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)
Related
party balances
Other
payable - related parties
| | |
| |
| |
As
of December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| CTA Nutriceuticals
(Asia) Sdn Bhd (“CTA”) | |
The directors and shareholders
of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd | |
Purchase
of products for general use | |
$ | 256 | | |
$ | 494 | |
| Ms. Low Mui Chin | |
Ms. Low Mui Chin, the director of Cedar ATPC
Sdn Bhd | |
Payment
on behalf of company expenses | |
| 5 | | |
| - | |
| Mr. How Kok Choong | |
Mr. How Kok Choong,
the CEO and director of the Company | |
Salary,
Commission expense and borrowing from director | |
| 831,709 | | |
| 356 | |
| Total | |
| |
| |
$ | 831,970 | | |
$ | 850 | |
Related
party transactions
Purchases
| | |
| |
| |
For
the years ended December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| CTA Nutriceuticals
(Asia) Sdn Bhd (“CTA”) | |
The directors and shareholders
of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd | |
Purchases
of products for the provision of complementary health therapies | |
$ | 365,840 | | |
$ | 335,493 | |
| SY Welltech Sdn Bhd (“Welltech”)
(formerly known as DSY Beauty Sdn Bhd) | |
The directors and shareholders of Welltech
are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd | |
Purchases
of beauty products | |
| 1,157 | | |
| 17,600 | |
| DSY Wellness & Longevity
Center Sdn Bhd (“DSYWLC”) | |
Mr. Yap Foo Ching (Steve Yap), a director
of DSY Wellness International Sdn Bhd is also a director of DSYWLC. | |
Purchases
of products for the provision of complementary health therapies | |
| 14,090 | | |
| 6,576 | |
| Institute of Complementary
and Traditional Medicine (“ICTM”) | |
Mr. Yap Foo Ching (Steve Yap), a director
of DSY Wellness International Sdn Bhd is also the chairman of ICTM | |
Rental
of diagnostic & medical equipment | |
| 11,272 | | |
| - | |
Cedar Wellness Sdn Bhd
(“CW”)
| |
The directors of CW
are also the directors of Cedar ATPC Sdn Bhd | |
Purchase
of skin care and healthcare products | |
| 36,001 | | |
| - | |
| Total | |
| |
| |
$ | 428,360 | | |
$ | 359,669 | |
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
14.
RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)
Related
party transactions
Other
income
| | |
| |
| |
For
the years ended December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| Ando Design
Sdn Bhd (“Ando”) | |
Mr. How Kok Choong, the CEO and
director of the Company is also the director of Ando. | |
Rental
income | |
$ | 235 | | |
$ | 2,630 | |
| TH3 Holdings Sdn Bhd (“TH3”) | |
Mr. How Kok Choong,
the CEO and director of the Company is also a director of TH3 | |
Rental
income | |
| 845 | | |
| 789 | |
| Total | |
| |
| |
$ | 1,080 | | |
$ | 3,419 | |
Other
purchases
| | |
| |
| |
For
the years ended December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| CTA Nutriceuticals
(Asia) Sdn Bhd (“CTA”) | |
The directors and shareholders
of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd | |
Purchases
of products for general use | |
$ | 3,166 | | |
$ | 4,243 | |
| SY Welltech Sdn Bhd (“Welltech”)
(formerly known as DSY Beauty Sdn Bhd) | |
The directors and shareholders
of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd | |
Purchases
of products for general use | |
| 1,174 | | |
| 4,337 | |
| Total | |
| |
| |
$ | 4,340 | | |
$ | 8,580 | |
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
14.
RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)
Related
party transactions
Commission
expense
| | |
| |
| |
For
the years ended December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| Mr.
How Kok Choong | |
Mr. How
Kok Choong, the CEO and director of the Company | |
Commission
expense | |
$ | 1,444 | | |
$ | 3,012 | |
| Total | |
| |
| |
$ | 1,444 | | |
$ | 3,012 | |
Other
expenses
| | |
| |
| |
For
the years ended December 31, | |
| Name
of Related Party | |
Relationship | |
Nature | |
2025 | | |
2024 | |
| | |
| |
| |
| | |
| |
| TH3
Holdings Sdn Bhd (“TH3”) | |
Mr. How Kok Choong, the CEO and
director of the Company is also a director of TH3 | |
IT
support services fee | |
$ | 62,179 | | |
$ | 59,371 | |
| Ando
Design Sdn Bhd (“Ando”) | |
Mr. How Kok Choong, the CEO and director
of the Company is also the director of Ando. | |
Office
furniture & fixture and improvements | |
| - | | |
| 1,772 | |
| SY
Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd) | |
The directors and shareholders of Welltech
are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd | |
Purchases
of products for general use | |
| - | | |
| 5 | |
| DSY
Wellness & Longevity Center Sdn Bhd (“DSYWLC”) | |
Mr. Yap Foo Ching (Steve Yap), a director
of DSY Wellness International Sdn Bhd is also a director of DSYWLC. | |
Office
rental expenses | |
| 98,628 | | |
| 55,239 | |
Cedar
Wellness Sdn Bhd (“CW”)
| |
The directors of CW
are also the directors of Cedar ATPC Sdn Bhd | |
Selling
and event related expenses | |
| 51,254 | | |
| - | |
| Total | |
| |
| |
$ | 212,061 | | |
$ | 116,388 | |
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
|