| Schedule of nature and purpose of transaction amounts and outstanding balances for related parties |
The
nature and purpose of transaction amounts and outstanding balances for related parties consist of the following:
Schedule of nature and purpose of transaction amounts and outstanding balances for related parties
| | |
| |
| |
As of | | |
For the Year Ended | | |
For the Six Months Ended | | |
For the Years Ended | | |
Subsequent to | |
| | |
| |
| |
June 30,
2026 | | |
June 30,
2025 | | |
June 30,
2026 | | |
June 30,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | | |
June 30,
2026 | |
| | |
| |
| |
Balances | | |
Amounts | | |
Amounts | |
| Name | |
Relationship | |
Nature/Purpose | |
Receivables (Liabilities) | | |
Sales (Purchases) | | |
Settled | |
| Benua Hijau Sdn Bhd | |
Entity owned by Controlling Shareholder | |
CSR expenses | |
$ | (226,190 | ) | |
$ | (156,136 | ) | |
$ | - | | |
$ | - | | |
$ | (98,658 | ) | |
$ | - | | |
$ | 226,190 | |
| Black Hummer Security Sdn Bhd | |
An entity controlled by Tan Sri Mohd Bakri Bin Mohd Zinin, one of the directors of Tumpuan Megah | |
Security services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,448 | ) | |
| - | |
| Dato’ Mohd Suhaimi bin Hashim | |
Shareholder of the Company and TMDF | |
Advances | |
| (246 | ) | |
| (237 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Double Corporate Oils & Fats Sdn Bhd | |
Associate of the Company | |
Advances | |
| 819 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Horizon Shipyard Inter Globe (M) Sdn Bhd | |
Associate of the Company | |
(i) Advances | |
| 10,351 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| |
(ii) Docking expenditure reimbursement | |
| 4,328,616 | | |
| 4,103,644 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| |
(iii) Other operating cost | |
| - | | |
| - | | |
| (206,821 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
| Pan Management Services Ltd | |
Entity owned by Controlling Shareholder | |
(i) Advances | |
| (8,805 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
| |
(ii) Management service | |
| (75,138 | ) | |
| (72,942 | ) | |
| - | | |
| - | | |
| - | | |
| (234,137 | ) | |
| - | |
| Raja Ismail Bin Raja Mohamed | |
Director of Tumpuan Megah | |
Reimbursable legal fees | |
| 2,452,925 | | |
| 1,927,246 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Sinar Maju Logistik Sdn Bhd | |
Entity owned by Controlling Shareholder | |
Shipping agency services | |
| 142,681 | | |
| 137,715 | | |
| (78,797 | ) | |
| (47,325 | ) | |
| (270,505 | ) | |
| (525,067 | ) | |
| 12,611 | |
| Sinar Maju Marin Sdn Bhd | |
Subsidiary of Sinar Maju Logistik Sdn Bhd, Entity owned by Controlling Shareholder | |
Shipping agency services | |
| (19,228 | ) | |
| (1,665 | ) | |
| (48,000 | ) | |
| (17,213 | ) | |
| (69,404 | ) | |
| (71,606 | ) | |
| 19,228 | |
| Straits Alliance Transport Sdn Bhd | |
Entity owned by Controlling Shareholder | |
Advances | |
| 1,159 | | |
| 1,116 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Straits CommNet Solutions Sdn Bhd | |
Subsidiary of Straits Technology Solutions Sdn Bhd, entity owned by Controlling Shareholder | |
Advances | |
| 326 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Straits Energy Resources Berhad | |
Controlling Shareholder | |
Working capital advances | |
| 17,355,218 | | |
| 15,903,625 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 420,030 | |
| Straits Management Services Sdn Bhd | |
Entity owned by Controlling Shareholder | |
Management service | |
| (75,245 | ) | |
| (793,078 | ) | |
| - | | |
| - | | |
| (499,091 | ) | |
| (269,897 | ) | |
| 4,962 | |
| Tony Tan Han | |
Director of SMS 1 | |
Advances | |
| (170,265 | ) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Victoria STS (Labuan) Sdn Bhd | |
Entity owned by Controlling Shareholder | |
(i) Sales of marine gas oil | |
| - | | |
| 11,592 | | |
| - | | |
| - | | |
| - | | |
| 151,349 | | |
| - | |
| | |
| |
(ii) Sales of ship management service | |
| 119,588 | | |
| 8,480 | | |
| 189,661 | | |
| 154,866 | | |
| 177,534 | | |
| 122,240 | | |
| 72,443 | |
| | |
| |
(iii) Purchase of tugboat services | |
| - | | |
| - | | |
| - | | |
| (17,116 | ) | |
| (9,402 | ) | |
| (21,201 | ) | |
| - | |
| Victoria 3 Limited | |
Subsidiary of Victoria STS (Labuan) Sdn Bhd, Entity owned by Controlling Shareholder | |
Sales of ship management service | |
| 3,147 | | |
| 3,155 | | |
| - | | |
| - | | |
| - | | |
| 16,788 | | |
| - | |
| Wire & Wireless Sdn Bhd | |
Subsidiary of Straits Technology Solutions Sdn Bhd, entity owned by Controlling Shareholder | |
Advances | |
| 518 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Total, net | |
| |
| |
$ | 23,840,231 | | |
$ | 21,072,515 | | |
$ | (143,957 | ) | |
$ | 73,212 | | |
$ | (769,526 | ) | |
$ | (832,979 | ) | |
$ | 755,464 | |
Related
party transactions other than sales and purchases:
| | |
| |
| |
For the Year Ended | | |
For the Six Months Ended | | |
For the Year Ended | |
| Name | |
Relationship | |
Nature/Purpose | |
June 30, 2026 | | |
June 30, 2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| Benua Hijau Sdn Bhd | |
Entity owned by Controlling Shareholder | |
Corporate social responsibility expenses | |
$ | (103,383 | ) | |
$ | (79,458 | ) | |
$ | - | | |
$ | - | |
| Ho Hung Ming | |
Son of Dato’ Sri Kam Choy Ho | |
Remuneration | |
| (136,100 | ) | |
| (61,540 | ) | |
| (72,487 | ) | |
| (67,895 | ) |
| Straits Management Services Sdn Bhd | |
Entity owned by Controlling Shareholder | |
Management service | |
| (803,425 | ) | |
| (373,129 | ) | |
| - | | |
| - | |
| Straits Energy Resources Berhad | |
Controlling Shareholder | |
Interest income | |
| 1,200,519 | | |
| 617,809 | | |
| 375,365 | | |
| 32,089 | |
| | |
| |
| |
$ | 157,611 | | |
$ | 103,682 | | |
$ | 302,878 | | |
$ | (35,806 | ) |
|
| Schedule of sales revenues and purchases for related parties |
The
sales revenues and purchases for related parties consist of the following:
Schedule of sales revenues and purchases for related parties
| | |
June 30, 2026 | | |
June 30, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| | |
For the Year Ended | | |
For the Six Months Ended | | |
For the Years Ended | |
| | |
June 30, 2026 | | |
June 30, 2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| Related party sales revenues | |
$ | 189,661 | | |
$ | 154,866 | | |
$ | 177,534 | | |
$ | 290,377 | |
| Related party purchases | |
| (333,618 | ) | |
| (81,654 | ) | |
| (947,060 | ) | |
| (1,123,356 | ) |
| Total, net | |
$ | (143,957 | ) | |
$ | 73,212 | | |
$ | (769,526 | ) | |
$ | (832,979 | ) |
|