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RELATED PARTY BALANCES AND TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY BALANCES AND TRANSACTIONS

15. RELATED PARTY BALANCES AND TRANSACTIONS

 

Related party balances

 

Amount due from related parties

         As of December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  Prepayment of IT expenses  $1,582   $2,922 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Deposits for products purchases   -    8,171 
ATPC Lega Global Sdn Bhd (“Lega”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of Lega  General expenses payment on behalf   730    - 
Total        $2,312   $11,093 

 

Accounts payable – related parties

 

         As of December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for the provision of complementary health therapies  $30,554   $30,439 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of beauty products   71    54 
Chew Yi Zheng  Mr. Chew Yi Zheng is the member of the immediate family of Mr. Yap Foo Ching (Steve Yap), the director of DSY Wellness International Sdn Bhd  Render therapy and health consultation to customer   -    4,355 
Total        $30,625   $34,848 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

15. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party balances

 

Other payable - related parties

 

         As of December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchase of products for general use  $494   $570 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchase of products for general use   -    535 
Mr. Yap Foo Ching (Steve Yap)
  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Payment on behalf of company expenses   -    6,534 
Mr. How Kok Choong  Mr. How Kok Choong, the CEO and director of the Company  Commission expense   356    207 
Total        $850   $7,846 

 

Related party transactions

 

Purchases

 

         For the years ended December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for the provision of complementary health therapies  $335,493   $272,993 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of beauty products   17,600    18,516 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Purchases of products for the provision of complementary health therapies   6,576    - 
Chew Yi Zheng  Mr. Chew Yi Zheng is the member of the immediate family of Mr. Yap Foo Ching (Steve Yap), the director of DSY Wellness International Sdn Bhd  Render therapy and health consultation to customer   -    4,355 
Total        $359,669   $295,864 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

15. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party transactions

 

Other income

 

         For the years ended December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
Ando Design Sdn Bhd (“Ando”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Ando.  Rental income  $2,630   $2,630 
Redboy Pictures Sdn Bhd (“Redboy”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy.  Rental income   -    5,260 
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  Rental income   789    460 
Total        $3,419   $8,350 

 

Other purchases

 

         For the years ended December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for general use  $4,243   $6,213 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of products for general use   4,337    7,282 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Purchases of products for general use   -    368 
Total        $8,580   $13,863 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

15. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party transactions

 

Commission expense

 

         For the years ended December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
Mr. How Kok Choong  Mr. How Kok Choong, the CEO and director of the Company  Commission expense  $3,012   $5,947 
Total        $3,012   $5,947 

 

Other expenses

 

         For the years ended December 31, 
Name of Related Party  Relationship  Nature  2024   2023 
               
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  IT support services fee  $59,371   $54,956 
Ando Design Sdn Bhd (“Ando”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Ando.  Office furniture & fixture and improvements   1,772    - 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of products for general use   5    - 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Office rental expenses   55,239    31,563 
Total        $116,388   $86,519 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)