v3.26.1
Related Party Transactions
9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

 

Due from (to) related parties

 

From time to time, the Company received advances from Chan Tin Chi Family Company Limited, which is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand.

 

As of September 30, 2024 and December 31, 2023, amounts due from related companies were $18,049,123 and $18,068,304, respectively.

 

As of September 30, 2024 and December 31, 2023, amounts due to Chan Tin Chi Family Company were $1,528,833 and $1,506,986, respectively.

 

The amounts are unsecured, interest-free and have no fixed terms of repayment.