<SEC-DOCUMENT>0001493152-25-025605.txt : 20251201
<SEC-HEADER>0001493152-25-025605.hdr.sgml : 20251201
<ACCEPTANCE-DATETIME>20251201171755
ACCESSION NUMBER:		0001493152-25-025605
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251201
DATE AS OF CHANGE:		20251201

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HWH International Inc.
		CENTRAL INDEX KEY:			0001897245
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				873296100
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93316
		FILM NUMBER:		251540728

	BUSINESS ADDRESS:	
		STREET 1:		4800 MONTGOMERY LANE, SUITE 210
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		301-971-3955

	MAIL ADDRESS:	
		STREET 1:		4800 MONTGOMERY LANE, SUITE 210
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Alset Capital Acquisition Corp.
		DATE OF NAME CHANGE:	20211203

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chan Heng Fai Ambrose
		CENTRAL INDEX KEY:			0001261725
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		2601 INSLAND PLACE TOWER
		STREET 2:		510 KINGS RD N POINT
		CITY:			HONG KONG
		STATE:			K3
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHAN FAI
		DATE OF NAME CHANGE:	20030828
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001493152-25-010203</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Chan Heng Fai Ambrose -->
          <cik>0001261725</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>10</amendmentNo>
      <securitiesClassTitle>COMMON STOCK, $0.0001 PAR VALUE</securitiesClassTitle>
      <dateOfEvent>11/26/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001897245</issuerCIK>
        <issuerCUSIP>44852G309</issuerCUSIP>
        <issuerName>HWH INTERNATIONAL INC. (HWH)</issuerName>
        <address>
          <com:street1>4800 Montgomery Lane, Suite 210</com:street1>
          <com:city>Bethesda</com:city>
          <com:stateOrCountry>MD</com:stateOrCountry>
          <com:zipCode>20814</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Heng Fai Ambrose Chan</personName>
          <personPhoneNum>301-971-3955</personPhoneNum>
          <personAddress>
            <com:street1>4800 Montgomery Lane, Suite 210</com:street1>
            <com:city>Bethesda</com:city>
            <com:stateOrCountry>MD</com:stateOrCountry>
            <com:zipCode>20814</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001261725</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Heng Fai Ambrose Chan</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>U0</citizenshipOrOrganization>
        <soleVotingPower>1002600.00</soleVotingPower>
        <sharedVotingPower>6112109.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>6114709.00</sharedDispositivePower>
        <aggregateAmountOwned>6114709.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>81.3</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>Aggregate amount includes (i) 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock, $0.0001 par value held by Alset Acquisition Sponsor, LLC; (ii) 1,002,600 shares of common stock owned directly by Mr. Chan; (iii) 1,991,669 shares of common stock held by Alset International Limited; and (iv) 2,537,590 shares of common stock held by Alset Inc., over which Mr. Chan may be deemed to possess indirect beneficial ownership as the Chief Executive Officer and Chairman of Alset Inc. and Alset International Limited. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of  December 1, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001750106</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Alset Inc.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>TX</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>5112109.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5112109.00</sharedDispositivePower>
        <aggregateAmountOwned>5112109.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>67.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>Aggregate amount includes (i) 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock, $0.0001 par value held by Alset Acquisition Sponsor, LLC, a majority owned subsidiary of Alset Inc.; (ii) 1,991,669 shares held by Alset International Limited, a majority owned subsidiary of Alset Inc; and (iii) 2,537,590 shares held by Alset Inc. directly. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of December 1, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001660984</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Alset International Limited</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>U0</citizenshipOrOrganization>
        <soleVotingPower>1991669.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1991669.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1991669.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>26.6</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of December 1, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001908910</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Alset Acquisition Sponsor, LLC</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>582850.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>582850.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>582850.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>7.7</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>Aggregate amount includes 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of December 1, 2025.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>COMMON STOCK, $0.0001 PAR VALUE</securityTitle>
        <issuerName>HWH INTERNATIONAL INC. (HWH)</issuerName>
        <issuerPrincipalAddress>
          <com:street1>4800 Montgomery Lane, Suite 210</com:street1>
          <com:city>Bethesda</com:city>
          <com:stateOrCountry>MD</com:stateOrCountry>
          <com:zipCode>20814</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>Heng Fai Ambrose Chan</filingPersonName>
        <principalBusinessAddress>9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989</principalBusinessAddress>
        <principalJob>Chief Executive Officer - Alset International Limited</principalJob>
        <hasBeenConvicted>None.</hasBeenConvicted>
        <convictionDescription>None.</convictionDescription>
        <citizenship>Singapore</citizenship>
      </item2>
      <item3>
        <fundsSource>On November 26, 2025, the Board of Directors of HWH International Inc. (the "Company") awarded the Company's Chairman and Chief Executive Officer Chan Heng Fai 1,000,000 shares of the Company's common stock (the "Shares"). The Shares were granted to Mr. Chan as compensation for services rendered to the Company pursuant to the Company's 2025 Incentive Compensation Plan, as adopted on November 10, 2025.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>On November 26, 2025, the Board of Directors of HWH International Inc. (the "Company") awarded the Company's Chairman and Chief Executive Officer Chan Heng Fai 1,000,000 shares of the Company's common stock (the "Shares"). The Shares were granted to Mr. Chan as compensation for services rendered to the Company pursuant to the Company's 2025 Incentive Compensation Plan, as adopted on November 10, 2025.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Heng Fai Ambrose Chan: 6,114,709, 81.3% Alset Inc.: 5,112,109, 67.9% Alset International Limited: 1,991,669, 26.6% Alset Acquisition Sponsor, LLC: 582,850, 7.7%</percentageOfClassSecurities>
        <numberOfShares>Heng Fai Ambrose Chan: Sole power to vote or to direct the vote - 1,002,600 Shared power to vote or to direct the vote - 5,112,109 Sole power to dispose or to direct the disposition of - 1,002,600 Shared power to dispose or to direct the disposition of - 5,112,109 Alset Inc.: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 5,112,109 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 5,112,109 Alset International Limited: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 1,991,669 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 1,991,669 Alset Acquisition Sponsor, LLC: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 582,850 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 582,850</numberOfShares>
        <transactionDesc>None.</transactionDesc>
        <listOfShareholders>Not applicable.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>None.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Joint Filing Agreement dated as of January 19, 2024.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Heng Fai Ambrose Chan</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Heng Fai Ambrose Chan</signature>
          <title>Heng Fai Ambrose Chan, an Individual</title>
          <date>12/01/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Alset Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Heng Fai Ambrose Chan</signature>
          <title>Heng Fai Ambrose Chan, Chief Executive Officer</title>
          <date>12/01/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Alset International Limited</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Heng Fai Ambrose Chan</signature>
          <title>Heng Fai Ambrose Chan, Chief Executive Officer</title>
          <date>12/01/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Alset Acquisition Sponsor, LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Heng Fai Ambrose Chan</signature>
          <title>Heng Fai Ambrose Chan, Chief Executive Officer of Alset SPAC Group Inc., its sole member</title>
          <date>12/01/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
