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AMOUNT DUE TO DIRECTOR
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
AMOUNT DUE TO DIRECTOR    
NOTE 13 - AMOUNT DUE TO DIRECTOR

NOTE 13 - AMOUNT DUE TO DIRECTOR

 

As of June 30, 2021, amount due to related parties consist of the following:

 

 

 

As of

June 30,

2021

 

 

As of

December 31,

2020

 

 

 

 

 

 

 

 

Related parties payable

 

$ 

276,500

 

 

$

276,500

 

Related party loan

 

 

140,000

 

 

 

140,000

 

Director fee payable

 

 

144,000

 

 

 

-

 

 

 

$560,500

 

 

$

416,500

 

 

The related party balance of $560,500 represented an outstanding loan of $140,000 from the related company owned by Company’s director-Dai Zheng for daily business operation in Singapore, and professional expenses paid on behalf by Director of $276,500 and which consist of $224,500 advance from Dai Zheng, $42,000 advance from Li Zhuo and $10,000 from Che Kean Tat. It is unsecured, interest-free with no fixed payment term and imputed interest is consider to be immaterial.

 

As of June 30, 2021, there were $140,000 of related party loan that are due to the company owned by Mr. Dai, the Chairman of the Board.