| RELATED PARTY BALANCES AND TRANSACTIONS |
Note 15 — Related party balances and transactions The Company’s relationships with related parties who had transactions with the Company are summarized as follows: | Related Party Name | | Relationship to the Company | | Mr Zhang Jian (“Mr Zhang”) | | Shareholder and Director | | Ms Xu Yukai (“Mrs Zhang”) | | Shareholder | | Mr Huang Dong (“Mr Huang”) | | Shareholder and Director | | Ms Ang Siew Sang (“Ms Ang”) | | Director | | PTH Safety equipment Sdn Bhd | | Shareholder and director is Mr Zhang and Mr Huang | | Zhikai International Trade (Shanghai) Co., Ltd | | Shareholder and director is Mr Zhang | | Rectitude Safety Equipment Co., Ltd | | Shareholder and director is Mr Zhang | | Greenly Trading Company | | Shareholder is Ms Ang | | | a. | Related party balances | | | | | | As of March 31, | | | Nature | | Name | | 2025 | | | 2026 | | | 2026 | | | | | | | S$ | | | S$ | | | US$ | | | Advances to | | Zhikai International Trade (Shanghai) Co., Ltd(1) | | | 55,507 | | | | 57,514 | | | | 44,582 | | | | | | | | | | | | | | | | | | | Advances to | | PTH Safety Equipment Sdn Bhd(2) | | | 181,304 | | | | 641,756 | | | | 497,457 | | | | | | | | | | | | | | | | | | | Advance to | | Rectitude Safety Equipment Co., Ltd(3) | | | — | | | | 7,377 | | | | 5,719 | | | Total | | | | | 236,811 | | | | 706,647 | | | | 547,758 | | | (1) | On April 1, 2021, the Company entered into a sales and supply service agreement with Zhikai International Trade (Shanghai) Co.,Ltd, whose shareholder and director is Mr Zhang, to provide products supplies services to the Company. The balances due from Zhikai International Trade (Shanghai) Co.,Ltd represent downpayment made for manufacture of products. Subsequently, the downpayment has been utilized and the products received within 30 days from end of reporting period. | | (2) | On April 1, 2021, the Company entered into a sales and supply service agreement with PTH Safety Equipment Sdn Bhd, whose shareholders and directors are Mr Zhang and Mr Huang, to provide products supplies services to PTH Safety Equipment Sdn Bhd. The balances due from PTH Safety Equipment Sdn Bhd. represent downpayment made for manufacture of products. Subsequently, the downpayment has been utilized and the products received within 30 days from end of reporting period. | | | | | (3) | The Company entered into a sales and supply service agreement with Rectitude Safety Equipment Co, Ltd, whose shareholder and director is Mr Zhang, to provide products supplies services to Rectitude Safety Equipment. The balances due from Rectitude Safety Equipment Co, Ltd. represent payment on behalf of operating expense. | | | b. | Related party transactions | | | | | | For the years ended March 31, | | | Nature | | Name | | 2024 | | | 2025 | | | 2026 | | | 2026 | | | | | | | S$ | | | S$ | | | S$ | | | US$ | | | Accountancy fees | | Greenly Trading Company | | | (331,100 | ) | | | (72,600 | ) | | | (72,600 | ) | | | (56,276 | ) | | | | | | | | | | | | | | | | | | | | | | Tax fee | | Greenly Trading Company | | | — | | | | — | | | | (24,000 | ) | | | (18,603 | ) | | | | | | | | | | | | | | | | | | | | | | Sales to | | PTH Safety Equipment Sdn Bhd | | | 184,854 | | | | 88,680 | | | | 978,643 | | | | 758,595 | | | | | | | | | | | | | | | | | | | | | | | Purchases from | | PTH Safety Equipment Sdn Bhd | | | (101,335 | ) | | | (24,565 | ) | | | — | | | | — | | | | | | | | | | | | | | | | | | | | | | | Purchases from | | Zhikai International Trade (Shanghai) Co., Ltd | | | (840,241 | ) | | | (1,139,643 | ) | | | (290,034 | ) | | | (224,820 | ) |
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