The
summary of amount due to related parties as the following:
SCHEDULE OF AMOUNT DUE TO RELATED PARTIES
| | |
| |
As of
September 30, | |
| | |
| |
2025 | | |
2024 | |
| Due to related parties consist of the following: | |
| |
| | |
| |
| Mr. Bun Kwai | |
Due to shareholders | |
$ | 31,199 | | |
$ | 14,649 | |
| Mr. Bun Kwai | |
Accrued liabilities and other payables | |
| - | | |
| 10,940 | |
| Mr. Chun San Leung(1) | |
Accrued liabilities and other payables | |
| - | | |
| 2,124 | |
| Mr. Pak Lun Patrick Au(1) | |
Accrued liabilities and other payables | |
| - | | |
| 7,723 | |
Total | |
| |
$ | 31,199 | | |
$ | 35,436 | |
The
amounts due to related parties are unsecured, interest free with no specific repayment terms.
QMMM
HOLDINGS LIMITED
NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Stated
in US Dollars)
NOTE
17 – RELATED PARTY TRANSACTIONS (CONTINUED)
In
addition to the transactions and balances detailed elsewhere in these consolidated financial statements, the Company had the following
transactions with related parties:
| | |
| | | |
| | |
|
|
|
|
| | |
For the years ended |
|
| | |
September 30, |
|
| | |
2025 | | |
2024 | |
|
2023 |
|
| | |
| | |
| |
|
|
|
|
| Salary to Mr. Bun Kwai | |
$ | - | | |
$ | 130,629 | |
|
$ |
118,078 |
|
| Salary to Mr. Chun San Leung(1) | |
| - | | |
| 25,357 | |
|
|
13,273 |
|
| Salary to Mr. Pak Lun Patrick Au(1) | |
| - | | |
| 88,753 | |
|
|
50,436 |
|
| Service fee to Cubic Creation Limited(2) | |
| - | | |
| - | |
|
|
45,192 |
|
| Purchase of intangible asset from Mr. Bun Kwai | |
| - | | |
| - | |
|
|
20,046 |
|
| Repayments to MSB Infinitus Limited(3) | |
| - | | |
| 1,219,447 | |
|
|
- |
|
| Total | |
$ | - | | |
$ | 1,464,186 | |
|
$ |
247,025 |
|
| (1) |
|
Mr.
Chun San Leung and Mr. Pak Lun Patrick Au are the directors of QMMM Holdings Limited, Mr. Chun San Leung resigned on June 30, 2025
and Mr. Pak Lun Patrick Au resigned on February 14, 2025. |
| |
|
|
| (2) |
|
Cubic Creations Limited is fully owned by Mr. Chun San Leung. |
| |
|
|
| (3) |
|
MSB
Infinitus Limited is the sole shareholder of Lasting Success Holdings Limited which is a shareholder of the Company. On October 28,
2024, MSB Infinitus Limited disposed all it’s shares in Lasting Success Holdings Limited to Ms. Stella Lo. MSB Infinitus Limited
is not a related party to QMMM Holdings Limited thereafter. |
|