v3.26.3
Related Party Balances and Transactions
6 Months Ended
Jun. 30, 2026
Related Party Balances and Transactions [Abstract]  
Related party balances and transactions

Note 13 — Related party balances and transactions

 

Nature of relationships with related parties:

 

Related parties   Relationship   December 31,
2025
(Audited)
    June 30,
2026
(Unaudited)
    June 30,
2026
(Unaudited)
 
        MYR     MYR     USD  
Advance to subcontractor:                      
VC Marine Sdn Bhd   Common director     —       15,590,387       3,819,301  
Amount due to:                            
Star Sprite Limited   Common director     3,259,111       884,824       216,762  
Amount due to:                            
Darren Hoo Wei Sern   Director     779       7,017       1,719  

 

The Company had an unsecured, interest-free, non-trade advance from a related party namely Star Sprite Limited amounting to MYR3,259,111 and MYR884,824 (US$216,762), respectively, as of December 31, 2025 and June 30, 2026.

 

The Company had an unsecured, interest-free, non-trade advance from director amounting to MYR779 and MYR7,017 (US$1,719), respectively, as of December 31, 2025 and June 30, 2026.

 

Related party transactions:

 

Transaction nature   Name   June 30,
2025
(Unaudited)
    June 30,
2026
(Unaudited)
    June 30,
2026
(Unaudited)
 
        MYR     MYR     USD  
Sub-contractor charges   VC Marine Sdn Bhd   —     —     —  
Net repayment of sub-contractor charges to   VC Marine Sdn Bhd     (5,089,636 )     (10,500,751 )     (2,572,452 )
Expenses paid on behalf of Company   Star Sprite Limited     230,657       —       —  
Expenses paid on behalf of director   Hoo Wei Sern     —       6,238       1,528  
Net advance from/(repayment) to director   Hoo Wei Sern     (67,858 )     —       —