| SCHEDULE OF 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. |
|
SCHEDULE OF RELATED PARTY TRANSACTIONS
| | |
2025 | | |
2024 | |
| | |
For the Years ended | |
| | |
June 30, | |
| | |
2025 | | |
2024 | |
| Related party transactions: | |
| | | |
| | |
| Sales to: | |
| | | |
| | |
| Borneo Eco Food Sdn Bhd (1) | |
$ | - | | |
$ | 4,071 | |
| SB Resorts Sdn Bhd (2) | |
$ | - | | |
$ | 25,441 | |
| Sales | |
$ | - | | |
$ | 25,441 | |
| Rental income: | |
| | | |
| | |
| Mr. Jack Wong (3) | |
$ | 30,000 | | |
$ | 60,000 | |
| Rental income | |
$ | 30,000 | | |
$ | 60,000 | |
| Professional services provided by: | |
| | | |
| | |
| Warisan Khidmat Sdn Bhd (4) | |
$ | - | | |
$ | 17,905 | |
| Professional services provided | |
$ | - | | |
$ | 17,905 | |
| Interest expense paid to: | |
| | | |
| | |
| BOC (5) | |
$ | 1,738 | | |
$ | 13,536 | |
| Interest expense paid | |
$ | 1,738 | | |
$ | 13,536 | |
| Rental expense paid to: | |
| | | |
| | |
| SB Resorts Sdn Bhd (2) | |
$ | 3,431 | | |
$ | 1,918 | |
| Rental expense paid | |
$ | 3,431 | | |
$ | 1,918 | |
| Sale of property: | |
| | | |
| | |
| Mr. Jack Wong (3) | |
$ | 857,500 | | |
$ | - | |
| Sale of property | |
$ | 857,500 | | |
$ | - | |
| Settlement of debts by issuance of Company’s Common Stock | |
| | | |
| | |
| BOC (2) | |
$ | 675,888 | | |
$ | - | |
| Settlement of debts by issuance of company’s common stock | |
$ | 675,888 | | |
$ | - | |
|
| SCHEDULE OF RELATED PARTY BALANCES |
|
Related party balances (other than those disclosed in Note 12 and Note 13)
SCHEDULE OF RELATED PARTY BALANCES
| | |
2025 | | |
2024 | |
| | |
As of June 30, | |
| | |
2025 | | |
2024 | |
| Accounts payable | |
| | | |
| | |
| Warisan Khidmat Sdn Bhd (4) | |
$ | - | | |
$ | 1,484 | |
| Accounts payable | |
$ | - | | |
$ | 1,484 | |
| (1) | | Borneo Oil Berhad
(“BOB”) is ultimate holding company of Borneo Eco Food Sdn. Bhd., and held 13.4% of the Company’s issued and outstanding
Common Stock as of June 30, 2025. |
| (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). |
| (3) | | Mr.
Jack Wong is the Chief Executive Officer of the Company effective October 1, 2022. By Waiver and Consent of Shareholders, Mr. Jack
Wong was re-elected Director of the Company, effective March 30, 2024. This represents sale of the property located at 1138
Wildhorse Parkway Drive, Chesterfield, Missouri 63005 owned by VRI, for a current market value of $857,500.
A gain on disposal of $161,156
was recognized as a result of this transaction. |
| (4) | | Warisan Khidmat
Sdn. Bhd. is a company whose shareholdings is entirely held by a Director of Verde Malaysia. |
| (5) | | On August 16, 2024,
BOC and the Company entered into an arrangement to settle the debt of $675,888 owing to BOC by way of the issuance of 9,655,542 shares
of the Company’s Common Stock. The settlement was deemed to be a capital transaction which represented a distribution to an equity
holder and therefore was not charged in earnings. Refer Note 13 for further details regarding this transaction. |
|