XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Concentrations of Risks | 6 Months Ended
--- | ---
Jun. 30, 2017
Risks and Uncertainties [Abstract] |
Concentrations of Risks | NOTE 19 - CONCENTRATIONS OF RISKS (a) Major customers For service income: For the three months ended June 30, 2017, only one customer accounted for 10% or more of the service income presented as follows:
|  | For the three months ended June 30, 2017 |  |  | June 30, 2017 |
|  | Revenues |  |  | Percentage of revenues |  |  | Trade accounts receivable |
Customer A |  | $ | 291,000 |  |  |  | 28 | % |  |  | 290,000 |
Total: |  | $ | 291,000 |  |  |  | 28 | % |  | $ | 290,000 |
For the three months ended June 30, 2016, two customers accounted for 10% or more of the service income presented as follows:
|  | For the three months ended June 30, 2016 |  |  | June 30, 2016 |
|  | Revenues |  |  | Percentage of revenues |  |  | Trade accounts receivable |
Customer B |  | $ | 200,000 |  |  |  | 27 | % |  | $ | - |
Customer C, related party |  |  | 98,106 |  |  |  | 13 | % |  |  | - |
Total: |  | $ | 298,106 |  |  |  | 40 | % |  | $ | - |
For the six months ended June 30, 2017, only one customer accounted for 10% or more of the service income presented as follows:
|  | For the six months ended June 30, 2017 |  |  | June 30, 2017 |
|  | Revenues |  |  | Percentage of revenues |  |  | Trade accounts receivable |
Customer A |  |  | 291,000 |  |  |  | 16 | % |  |  | 290,000 |
Total: |  | $ | 291,000 |  |  |  | 16 | % |  | $ | 290,000 |
For the six months ended June 30, 2016, two customers accounted for 10% or more of the service income presented as follows:
|  | For the six months ended June 30, 2016 |  |  | June 30, 2016 |
|  | Revenues |  |  | Percentage of revenues |  |  | Trade accounts receivable |
Customer B |  | $ | 200,000 |  |  |  | 17 | % |  | $ | - |
Customer C, related party |  |  | 131,079 |  |  |  | 11 | % |  |  | - |
Total: |  | $ | 331,079 |  |  |  | 28 | % |  | $ | - |
(b) Major vendors For the three months ended June 30, 2017 and 2016, no vendor accounted for 10% or more of the Company’s cost of revenues, with no accounts payable balance at year-end. For the six months ended June 30, 2017 and 2016, no vendor accounted for 10% or more of the Company’s cost of revenues, with no accounts payable balance at year-end. (c) Credit risk Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its trade receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. (d) Interest rate risk As the Company has no significant interest-bearing assets, the Company’s income and operating cash flows are substantially independent of changes in market interest rates. The Company’s interest-rate risk arises from bank loans. The Company manages interest rate risk by varying the issuance and maturity dates variable rate debt, limiting the amount of variable rate debt, and continually monitoring the effects of market changes in interest rates. (e) Exchange rate risk The reporting currency of the Company is US$, to date the majority of the revenues and costs are denominated in MYR and RMB and a significant portion of the assets and liabilities are denominated in MYR and RMB. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$, MYR and RMB. If MYR and RMB depreciates against US$, the value of MYR and RMB revenues and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or other financial instruments that expose it to substantial market risk. (f) Economic and political risks Substantially all of the Company’s services are conducted in Malaysia, the PRC and Asian region. The Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in Malaysia. Among other risks, the Company’s operations are subject to the risks of restrictions on transfer of funds; export duties, quotas, and embargoes; domestic and international customs and tariffs; changing taxation policies; foreign exchange restrictions; and political conditions and governmental regulations in Malaysia. The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation.

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration