8.
RELATED PARTY TRANSACTIONS
As
of March 31, 2026 and June 30, 2025, the amount due from (due to) related parties consisted of:
SCHEDULE
OF AMOUNT DUE FROM (DUE TO) RELATED PARTIES
| | |
March 31, 2026 | | |
June 30, 2025 | |
| | |
| | |
| |
| Due from (due to) Invent Fortune Sdn. Bhd. (4) | |
$ | 140,426 | | |
$ | (35,029 | ) |
| Account payable to Invent Fortune Sd. Bhd. (4) | |
| - | | |
| (680,415 | ) |
| Payable to Luo Xiong and Wo Kuk Ching (1) | |
| (1,351,430 | ) | |
| (1,209,120 | ) |
| Payable to Empower International Trading (2) | |
| (806,682 | ) | |
| (527,325 | ) |
| Payable to TLC Global International Trading (3) | |
| (850,626 | ) | |
| (810,975 | ) |
| Total due to related parties, net | |
$ | (2,868,312 | ) | |
$ | (3,262,864 | ) |
The
amounts due from and payable to related parties are unsecured, non-interest bearing, non-trade in nature and payable on demand. The Company
has the right to offset amounts with related parties controlled by the same common control group.
| |
(1) |
Luo
Xiong and spouse Wo Kuk Ching and their immediate family members own 90% of the Company’s common stock. |
| |
(2) |
Entity
controlled 100% by Luo Xiong |
| |
(3) |
Entity
controlled 100% by Wong Ching Wing, daughter of Luo Xiong and Wo Kuk Ching |
| |
(4) |
Entity
controlled 83% by Luo Xiong and spouse Wo Kuk Ching. |
As
of March 31, 2026, accounts payable due to Invent Fortune Sdn. Bhd. amounted to $1,455,895 (see Note 5).
In
addition to the related party balances above, the Company has the following significant related party transactions incurred as below:
SCHEDULE OF SIGNIFICANT RELATED
PARTY TRANSACTIONS INCURRED
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three months ended
March 31, | | |
Nine months ended
March 31, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Cost to Invent Fortune Sdn. Bhd. (4) | |
$ | 172,497 | | |
$ | - | | |
$ | 547,140 | | |
$ | - | |
|