XML 43 R18.htm IDEA: XBRL DOCUMENT v3.21.2
Related Party Transactions
 12 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 12 – RELATED PARTY TRANSACTIONS

 

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. The related parties that had transactions or balances with the Company in 2021 and 2020 consisted of:

 

Related Party   Relationship with the Company
Judge Asia   Noncontrolling interest shareholder of JAJI China before November 9, 2019 
Xiao Feng Yang   Chairman of the Board
Raymond Ming Hui Lin   CEO of the Company
EMIT   Equity investee of the Company
CareerWin   Noncontrolling interest shareholder of JAJI HR before January 28, 2021
Srustijeet Mishra   Noncontrolling interest shareholder of Ridik Pte. before January 29, 2021
Beijing Bright Technology Co., Ltd (“Beijing Bright”)   Noncontrolling interest shareholder of JAJI China
CLPS Lihong   Equity investee of the Company

 

(a) Related party balances

 

The balances due from and due to related parties were as follows:

 

   As of June 30, 
   2021   2020 
Due from related parties:        
EMIT  $152,367   $
-
 
Beijing Bright   393,761    
-
 
Raymond Ming Hui Lin   
-
    169,185 
Total  $546,128   $169,185 

 

Due from related parties mainly represents loan provided to EMIT and software development fee prepaid to Beijing Bright.

 

    As of June 30,  
    2021     2020  
Due to related parties:            
EMIT   $ 183,148     $
     -
  

 

Due to related partied mainly represents the unpaid consulting service fee.

 

(b) Related party transactions

 

          For the year ended,  
          2021     2020     2019  
a)     Consulting services provided to the related parties                  
      CareerWin   $
-
     $ 165,161   $
-
  
      CLPS Lihong     269,472      
-
    
-
  
          $ 269,472     $ 165,161   $
-
  
                             
b)     Services provided by the related parties                      
      CareerWin   $
-
     $ 195,817   $
-
  
      Beijing Bright     604,033       165,040    
-
  
      EMIT     758,976       209,318    
-
  
          $ 1,363,009     $ 570,175   $
-
  
                             
c)     Loans provided to the related parties                      
      CLPS Lihong   $
-
     $ 149,341   $ 820,982  
      EMIT     151,783       28,446    
-
  
          $ 151,783     $ 177,787   $ 820,982  
d)     Repayment of loans from the related parties                      
      CLPS Lihong   $
-
     $ 149,341   $ 820,982  
      EMIT    
-
       28,446    
-
  
          $
-
     $ 177,787   $ 820,982  
e)     Interest income received from the related party                      
      CLPS Lihong    
-
       2,328     33,096  
          $ -     $ 2,328   $ 33,096  

 

The CEO, the wife of the CEO, Chairman, and the wife of Chairman of the Company provided joint guarantee to the revolving credit facility entered by the Company with China Merchants Bank on June 22, 2018 and December 16, 2019 (Note 10).

 

Srustijeet Mishra, the former noncontrolling interest shareholder of Ridik Pte. provided guarantee to a credit facility up to $86,071 (SGD 120,000) entered by the Company with Development Bank of Singapore on April 20, 2018 (Note 10).