NOTE
18 - RELATED PARTY TRANSACTIONS
SCHEDULE OF RELATED PARTY TRANSACTIONS
| | |
2026 | | |
2025 | |
| | |
Nine months ended | |
| | |
March 31, | |
| | |
2026 | | |
2025 | |
| Related party transactions: | |
| | | |
| | |
| Rental income: | |
| | | |
| | |
| Mr. Jack Wong (1) | |
$ | - | | |
$ | 30,000 | |
| SB Resorts Sdn Bhd (2) | |
$ | - | | |
$ | 2,724 | |
| Rental income | |
$ | - | | |
$ | 2,724 | |
| Interest expense paid to: | |
| | | |
| | |
| BOC (2) | |
$ | - | | |
$ | 1,738 | |
| Interest expense paid | |
$ | - | | |
$ | 1,738 | |
| Sale of property: | |
| | | |
| | |
| Mr. Jack Wong (1) | |
$ | - | | |
$ | 857,500 | |
| Sale of property | |
$ | - | | |
$ | 857,500 | |
| Creative and technical services fee paid to: | |
| | | |
| | |
| Mr. Teo Zye Keun (3) | |
$ | 34,458 | | |
$ | - | |
Forgiveness of debts by: | |
| | | |
| | |
| Makin Teguh Sdn Bhd (2) | |
$ | 19,379 | | |
$ | - | |
| J. Ambrose & Partners (2) | |
$ | 11,219 | | |
$ | - | |
| Forgiveness of debts | |
$ | 11,219 | | |
$ | - | |
| Creative and technical services fee paid | |
$ | - | | |
$ | - | |
Related
party balances are disclosed in Note 12.
| (1) | | Related Party
Transaction – Property Sale: |
| ● | Jack
Wong serves as Chief Executive Officer and Chairman of the Company and was elected to the
Board of Directors effective March 30, 2024. |
| | | |
| ● | The
Company completed the sale of property located at 1138 Wildhorse Parkway Drive, Chesterfield,
Missouri 63005, owned by VRI, for a current market value of $857,500 on December 19, 2024. |
| | | |
| ● | A
gain on disposal of $161,156 was recognized for the nine months ended March 31, 2025. |
| (2) | | Related Party
Ownership: |
| ● | SB
Resorts Sdn Bhd and BOC are wholly owned subsidiaries of BOB. |
| | | |
| | ● | Makin Teguh Sdn Bhd is an associate of BOB |
| | | |
| ● | BOB
held approximately 12.95% of the Company’s issued and outstanding common stock as of
March 31, 2026. |
| | | |
| | ● | J. Ambrose & Partners is controlled by J Ambrose who
is one of the shareholders of the Company, and he held 1.535%
of the Company’s issued and outstanding common stock as of March 31, 2026. Ambrose is also the managing director and a
substantial shareholder of BOB. |
| (3) | | Related Party
– Director Relationship: |
| ● | Teo
Zye Keun is a Director of The Wision Project Sdn Bhd, a subsidiary of the Company. |
Apart
from the transactions and balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the
Company has no other significant or material related party transactions during the periods presented
|