v3.26.1
SCHEDULE OF BREAKDOWN BALANCES DUE TO RELATED PARTIES (Details) - USD ($)
Jun. 30, 2025
Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]    
Amount due from a related parties [1] $ 100 $ 100
Borneo Oil Corporation Sdn [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [2] 72,869 70,677
Borneo Oil Berhad [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 3,007 3,007
Taipan International Limited [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [4] 119,153 119,153
Borneo Energy Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 16,356 14,599
Victoria Capital Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [5] 5,913 93,270
UnitiMart Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 7,782
Makin Teguh Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 19,379 19,379
J Ambrose Partners [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [6] 75,904 48,588
SB Resorts Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [2] 6,622 2,120
SB Supplies Logistics Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 4,612 5,936
Borneo Eco Food Sdn Bhd [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [3] 1,159 1,039
Related Party [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director 324,974 385,550
Director [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Amount due to director [7] $ 209,640 $ 4,188
[1] Encik Anuar bin Ismail, an indirect significant shareholder, is a director of Vetrolysis Limited.
[2] SB Resorts Sdn. Bhd. and Borneo Oil Corporation Sdn. Bhd. (“BOC”) are wholly owned subsidiaries of Borneo Oil Berhad (“BOB”) (holding 13.4% of the Company’s issued and outstanding Common Stock as of June 30, 2025). The advances are related to ordinary business transactions and bear no interest or collateral, repayable and renewable under normal business advancement terms.
[3] Borneo Oil Berhad (“BOB”) is the ultimate holding company of Borneo Eco Food Sdn. Bhd., Borneo Energy Sdn. Bhd., SB Supplies & Logistic Sdn. Bhd. and UnitiMart Sdn. Bhd., (holding 13.4% of the Company’s issued and outstanding Common Stock as of June 30, 2025). Makin Teguh Sdn Bhd is an associate of BOB. The advances are related to ordinary business transactions and bear no interest or collateral and are repayable on demand.
[4] Taipan International Limited is one of the shareholders of the Company and held 15.4% of the Company’s issued and outstanding Common Stock as of June 30, 2025. The advances are related to ordinary business transactions and bear no interest or collateral and are repayable on demand.
[5] Victoria Capital Sdn. Bhd. is one of the shareholders of the BOB (holding 7.8% if BOB’s shares) and also is a direct shareholder of Company, holding 0.2% of the Company’s issued and outstanding Common Stock as of June 30, 2025. The advances are related to ordinary business transactions and bear no interest or collateral and are repayable on demand.
[6] J. Ambrose & Partners is controlled by J Ambrose who is one of the shareholders of the Company, and he held 1.6% of the Company’s issued and outstanding Common Stock as of June 30, 2025. He is also a substantial shareholder of BOB. The advances are related to ordinary business transactions and bear no interest or collateral and are repayable on demand.
[7] Mr. Jack Wong is the Chief Executive Officer of the Company effective October 1, 2022. Further, Jack Wong was re-elected Director of the Company by Waiver and Consent of Shareholders, effective March 30, 2024. This represents remaining balance of the special bonus of $1.25 million to CEO Jack Wong approved by the Board of the Company on December 9, 2024. On December 10, 2024, CEO Jack Wong entered into the Wong Agreement to purchase the Property located at 1138 Wildhorse Parkway Drive, Chesterfield, Missouri 63005 owned by VRI, for a current market value of $857,500.The Board also approved the option for this amount to be repaid through monthly installments deducted from the bonus over 26 pay cycles starting from January 2025. This transaction shall be structured as a sale and purchase agreement between the Company and CEO Jack Wong, with no cash exchange involved. The remaining balance of the bonus shall be allocated to cover any taxes associated with the bonus on behalf of CEO Jack Wong