v3.26.1
INCOME TAX
 6 Months Ended
May 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAX

10. INCOME TAX

 

The income/(loss) before income taxes of the Company for the six months ended May 31, 2026 and 2025 were comprised of the following:

 

   2026   2025 
   For the six months ended May 31, 
   2026   2025 
Tax jurisdictions from:          
- Local  $10,067   $(21,827)
- Foreign, representing:          
Malaysia   -    - 
Income/(loss) before income taxes  $10,067   $(21,827)

 

Provision for income taxes consisted of the following:

 

   2026   2025 
   For the six months ended May 31, 
   2026   2025 
Current:          
- Local  $-   $- 
- Foreign  $-   $- 
           
Deferred tax assets:          
- Local  $-   $- 
- Foreign  $-   $- 
           
Deferred tax liabilities:          
- Local  $-   $- 
- Foreign  $-   $- 
           
Income tax payable:          
- Local  $-   $- 
- Foreign  $-   $- 
           
Income tax assets:          
- Local  $-   $- 
- Foreign  $-   $- 

 

 

Effective and Statutory Rate Reconciliation

 

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates.

 

The following table summarizes a reconciliation of the Company’s income taxes expenses:

 

   2026   2025 
   For the six months ended May 31, 
   2026   2025 
Computed expected expenses   21%   (21)%
Effect of foreign tax rate difference   -%   -%
Valuation allowances   (21)%   21%
Others   -%   -%
Effective tax rate   0%   0%

 

   2026   2025 
   For the six months ended May 31, 
   2026   2025 
Statutory federal income tax rate   21%   21%
Computed expected expenses  $2,114  $(4,584)
Effect of foreign tax rate difference   -    - 
Valuation allowances   -    4,584 
Others   (2,114)   - 
Total income tax expense  $-   $- 

 

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of May 31, 2026 and November 30, 2025:

 

  

As of

May 31, 2026

  

As of

November 30, 2025

 
Deferred tax assets:          
           
Net operating loss carryforwards          
– United States of America  $14,626   $16,740 
           
Less: valuation allowance   (14,626)   (16,740)
Deferred tax assets  $-   $- 

 

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. During the periods presented, the Company only operates in the United States of America, that are subject to taxes in the jurisdiction in which it operates, as follow:

 

United States of America

 

The Company is registered in the State of Nevada and is subject to United States of America tax law with a tax rate of 21%. The Tax Cuts and Jobs Act enacted in 2017 has changed the treatment of net operating losses (NOL’s). Prior to the change, NOL could be carried back up to two years and carried forward up to 20 years to offset taxable income. In the new tax law, the NOL created between December 31, 2017 and December 31, 2020 could be carried back up to five years and carried forward indefinitely until used. The NOL created after December 31, 2020 could be carried forward is limited to 80% of the taxable income, can no longer be carried back, but are allowed to be carried forward indefinitely. The new law will apply to NOL arising in tax years beginning December 31, 2017. As of May 31, 2026, the operations in the United States of America incurred $74,066 of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL would be carried forward indefinitely, if unutilized. The Company has provided for a full valuation allowance of approximately $15,554 against the deferred tax assets on the expected future tax benefits from the net operating loss carry forwards as the management believes it is more likely than not that these assets will not be realized in the future. There is no tax charge due to the losses incurred for the periods. For the six months ended May 31, 2026, there was no operating income under the applicable U.S. tax regime.

 

As of May 31, 2026, the Company’s management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets of $15,554 as of May 31, 2026.