| Schedule of nature and purpose of transaction amounts and outstanding balances for related parties |
The
nature and purpose of transaction amounts and outstanding balances for related parties consist of the following:
Schedule of nature and purpose of transaction amounts and outstanding balances for related parties
| | |
| |
| |
As
of | | |
For
the Six Months Ended | | |
For
the Years Ended | | |
| |
| | |
| |
| |
June
30,
2025 | | |
December
31, 2024 | | |
June
30,
2025 | | |
December
31, 2024 | | |
December
31, 2023 | | |
Subsequent
to June 30, | |
| | |
| |
| |
(Unaudited) | | |
(Audited) | | |
(Unaudited) | | |
(Audited) | | |
(Audited) | | |
2025 | |
| | |
| |
| |
Balances | | |
Amounts | | |
Amounts | |
| Name | |
Relationship | |
Nature/Purpose | |
Receivables
(Liabilities) | | |
Sales
(Purchases) | | |
Settled | |
| Benua Hijau Sdn. Bhd. | |
Entity owned by Controlling
Shareholder | |
Corporate Social Responsibility expenses | |
$ | (156,136 | ) | |
$ | (98,504 | ) | |
$ | - | | |
$ | (98,658 | ) | |
$ | - | | |
$ | 18,085 | |
| Black Hummer Security Sdn. Bhd. | |
An entity controlled by Tan Sri Mohd Bakri
Bin Mohd Zinin, one of the directors of Tumpuan Megah | |
Security services | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,448 | ) | |
| - | |
| Dato’ Mohd Suhaimi bin Hashim | |
Director of Tumpuan Megah and shareholder
of TMDF | |
Advances | |
| (237 | ) | |
| (224 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
| Pan Management Services Ltd | |
Entity owned by Controlling Shareholder | |
Management service | |
| (72,942 | ) | |
| (131,081 | ) | |
| - | | |
| - | | |
| (234,137 | ) | |
| 2,600 | |
| Raja Ismail Bin Raja Mohamed | |
Director of Tumpuan Megah | |
Reimbursable legal fees | |
| 1,927,246 | | |
| 1,823,609 | | |
| - | | |
| - | | |
| - | | |
| - | |
| Sinar Maju Logistik Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
Shipping agency services | |
| 137,715 | | |
| 95,841 | | |
| (47,325 | ) | |
| (270,505 | ) | |
| (525,067 | ) | |
| 23,471 | |
| Sinar Maju Marin Sdn. Bhd. | |
Subsidiary of Sinar Maju Logistik Sdn. Bhd.,
Entity owned by Controlling Shareholder | |
Shipping agency services | |
| (1,665 | ) | |
| (1,710 | ) | |
| (17,213 | ) | |
| (69,404 | ) | |
| (71,606 | ) | |
| 1,665 | |
| Straits Alliance Transport Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
Advances | |
| 1,116 | | |
| 1,057 | | |
| - | | |
| - | | |
| - | | |
| - | |
| Straits Energy Resources Berhad | |
Controlling Shareholder | |
Working capital advances | |
| 15,903,625 | | |
| 8,636,466 | | |
| - | | |
| - | | |
| - | | |
| 888,254 | |
| Straits Management Services Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
Management service | |
| (793,078 | ) | |
| (395,226 | ) | |
| - | | |
| (499,091 | ) | |
| (269,897 | ) | |
| 42,307 | |
| Victoria STS (Labuan) Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
(i) Sales of marine gas oil | |
| 11,592 | | |
| 27,762 | | |
| - | | |
| - | | |
| 151,349 | | |
| - | |
| | |
| |
(ii) Sales of ship management service | |
| 8,480 | | |
| 935,522 | | |
| 154,866 | | |
| 177,534 | | |
| 122,240 | | |
| - | |
| | |
| |
(iii) Purchase of tugboat services | |
| - | | |
| - | | |
| (17,116 | ) | |
| (9,402 | ) | |
| (21,201 | ) | |
| - | |
| Victoria 3 Limited | |
Subsidiary of Victoria
STS (Labuan) Sdn. Bhd., Entity owned by Controlling Shareholder | |
Sales of ship management
service | |
| 3,155 | | |
| 72,310 | | |
| - | | |
| - | | |
| 16,788 | | |
| - | |
| Total, net | |
| |
| |
$ | 16,968,871 | | |
$ | 10,965,822 | | |
$ | 73,212 | | |
$ | (769,526 | ) | |
$ | (832,979 | ) | |
$ | 976,382 | |
TMD
Energy Limited
Notes
to Unaudited Consolidated Financial Statements
For
the Six Months Ended June 30, 2025 and the Years Ended December 31, 2024 and 2023
Note
8 - Related party transactions (Continued)
Related
party transactions other than sales and purchases:
| | |
| |
| |
For
the Six Months
Ended | | |
For
the Years Ended | |
| | |
| |
| |
June
30, 2025 | | |
December
31, 2024 | | |
December
31, 2023 | |
| Name | |
Relationship | |
Nature/Purpose | |
(Unaudited) | | |
(Audited) | | |
(Audited) | |
| Benua Hijau Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
Corporate social responsibility
expenses | |
$ | (79,458 | ) | |
$ | - | | |
$ | - | |
| Ho Hung Ming | |
Son of Dato’ Sri Kam Choy Ho | |
Remuneration | |
| (38,894 | ) | |
| (72,487 | ) | |
| (67,895 | ) |
| Straits Management Services Sdn. Bhd. | |
Entity owned by Controlling Shareholder | |
Management service | |
| (373,129 | ) | |
| - | | |
| - | |
| Straits Energy Resources
Berhad | |
Controlling Shareholder | |
Interest income | |
| 617,809 | | |
| 375,365 | | |
| 32,089 | |
| | |
| |
| |
$ | 126,328 | | |
$ | 302,878 | | |
$ | (35,806 | ) |
|
| Schedule of sales revenues and purchases for related parties |
The
sales revenues and purchases for related parties consist of the following:
Schedule of sales revenues and purchases for related parties
| | |
| | |
| | |
| |
| | |
For the Six Months
Ended | | |
For
the Years Ended | |
| | |
June 30,
2025 | | |
December
31, 2024 | | |
December
31, 2023 | |
| | |
(Unaudited) | | |
(Audited) | | |
(Audited) | |
| Related party sales revenues | |
$ | 154,866 | | |
$ | 177,534 | | |
$ | 290,377 | |
| Related party purchases | |
| (81,654 | ) | |
| (947,060 | ) | |
| (1,123,356 | ) |
| Total, net | |
$ | 73,212 | | |
$ | (769,526 | ) | |
$ | (832,979 | ) |
|