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Related Party Transactions and Balances | 12 Months Ended
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Dec. 31, 2025
Related Party Transactions and Balances [Abstract] |
Related Party Transactions and Balances | 18. Related Party Transactions and Balances The table below sets forth the major related parties and their relationship with the Company as of December 31, 2025:
Name of related parties |  | Relationship with the Company
Chee Hoong Lew (“Mr. Lew”) |  | CEO, Director and one of the controlling shareholders
Yew Chean Lim (“Ms. Lim”) |  | Director of Win-Fung
Wai Boon Law (“Ms. Law”) |  | Director of Win-Fung
Chung Kin Loo (“Mr. Loo”) |  | Director of GKI
Flakeshield Sdn Bhd (“Flakeshield”) |  | Mr. Lew owns 50%
Acmos (M) Sdn Bhd (“Acmos”) |  | Mr. Lew owns 90%
Win Fung Prop Sdn Bhd (“WFP”) |  | Mr. Lew owns 90%
Eco Consult (M) Sdn Bhd (“ECO”) |  | Mr. Lew owns 50%
Kirby Swim Equip Pty Ltd (“Kirby Australia”) |  | Ms. Law ultimately owns 35%
Kirby Swim Equipment Pte Ltd (“Kirby Singapore”) |  | Ms. Law owns 35%
One Fatboyz Limited (“OFL”) |  | Shareholder of the Company
Snow Bear Capital Limited (“SBCL”) |  | Shareholder of the Company
Carlico* |  | An investee of GKI, owns 35%
RGSB* |  | An investee of WF Venture, owns 35%
| * | Carlico and RGSB became investees of the Company on May 15, 2025 and July 8, 2025, respectively (See Note 4).
During the years ended December 31, 2025, 2024 and 2023, related party transactions consist of the following:
|  | Years Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Sales to Flakeshield |  | $ | 19,429 |  |  | $ | 30,024 |  |  | $ | 25,450 |
Sales to Acmos |  |  | - |  |  |  | 2,689 |  |  |  | 5,944 |
Sales to ECO |  |  | 140 |  |  |  | - |  |  |  | - |
Sales to Kirby Singapore |  |  | - |  |  |  | 197 |  |  |  | - |
Purchase from Flakeshield |  |  | 4,368 |  |  |  | 2,320 |  |  |  | 8,761 |
Purchase from Acmos |  |  | 8,158 |  |  |  | 8,571 |  |  |  | 185,989 |
Rental income from Flakeshield |  |  | - |  |  |  | 6,558 |  |  |  | 6,582 |
Rental expenses to WFP |  |  | - |  |  |  | 5,902 |  |  |  | 7,899 |
Rental expenses to Mr. Lew |  |  | 33,638 |  |  |  | 31,477 |  |  |  | 2,633 |
Consultancy expenses to OFL |  |  | 264,186 |  |  |  | - |  |  |  | - |
Consultancy expenses to SBCL |  |  | 423,000 |  |  |  | - |  |  |  | - |
Advances from OFL |  |  | - |  |  |  | - |  |  |  | 231,190 |
Advances from SBCL |  |  | - |  |  |  | 273,204 |  |  |  | 121,867 |
Advances from Kirby Australia |  |  | - |  |  |  | 2,638 |  |  |  | - |
Purchase consideration to Ms. Lim for acquisition of GKI |  |  | 3,000,000 |  |  |  | - |  |  |  | - |
Purchase consideration to Mr. Lew for acquisition of RBSB |  |  | 40,500 |  |  |  | - |  |  |  | - |
Purchase consideration to Mr. Lew for acquisition of RGSB |  |  | 350,000 |  |  |  | - |  |  |  | - |
As of December 31, 2025 and 2024, accounts receivable consisted of the following amount due from related parties:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Flakeshield |  | $ | 5,282 |  |  | $ | 18,695 |
ECO |  |  | 148 |  |  |  | - |
Kirby Singapore |  |  | - |  |  |  | 1,077 |
Total |  | $ | 5,430 |  |  | $ | 19,772 |
As of December 31, 2025 and 2024, other receivable consisted of the following amount due from related parties:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Flakeshield |  | $ | 364 |  |  | $ | 890 |
SBCL |  |  | - |  |  |  | 13,732 |
Total |  | $ | 364 |  |  | $ | 14,622 |
As of December 31, 2025 and 2024, accounts payable consisted of the following amount due to related parties:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Flakeshield |  | $ | 480 |  |  | $ | - |
Acmos |  |  | 4,327 |  |  |  | - |
Total |  | $ | 4,807 |  |  | $ | - |
As of December 31, 2025 and 2024, other payable consisted of the following amount due to related parties:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Acmos |  | $ | 333 |  |  | $ | - |
Kirby Australia |  |  | - |  |  |  | 2,638 |
Total |  | $ | 333 |  |  | $ | 2,638 |
As of December 31, 2025 and 2024, due to related parties consists of the following:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Mr. Lew |  | $ | 19,295 |  |  | $ | 15,636 |
Ms. Lim |  |  | 740 |  |  |  | - |
Ms. Law |  |  | 27,475 |  |  |  | 55,037 |
Mr. Loo |  |  | 18,554 |  |  |  | - |
Carlico |  |  | 4,275,561 |  |  |  | - |
OFL |  |  | - |  |  |  | 231,190 |
SBCL |  |  | - |  |  |  | 395,071 |
Total |  | $ | 4,341,625 |  |  | $ | 696,934 |
The transactions amount due to related parties are as of the following:
|  | At December 31, |
|  | 2025 |  |  | 2024 |
Beginning of the years January 1, |  | $ | 696,934 |  |  | $ | 469,682 |
Advances |  |  | 4,297,627 |  |  |  | 280,154 |
Repayment |  |  | (652,936 | ) |  |  | (52,902 | )
Years ended December 31, |  | $ | 4,341,625 |  |  | $ | 696,934 |
The balances mainly represent operating expenses and corporate expenses paid on behalf of the Company. The amount due to related parties is non-trade, unsecured, non-interest bearing and is repayable on demand.

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