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Related party balances and transactions
 3 Months Ended
Sep. 30, 2023
Related Party Balances and Transactions [Abstract]  
Related Party balances and transactions

Note 11 – Related party balances and transactions

 

Related party balances

 

Other receivable, a related party

 

Name of related party  Relationship  Nature 

As of

September 30,

2023

  

As of

June 30,

2023

 
        

(Unaudited)

  

(Audited)

 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is the common shareholder  Equipment rental deposit  $12,303   $12,379 

 

Other payables, related parties

 

Name of Related Party  Relationship  Nature 

As of

September 30,

2023

  

As of

June 30,

2023

 
        

(Unaudited)

  

(Audited)

 
True Sight Sdn Bhd  Su Huay “Sue” Chuah, the Company’s Chief Marketing Officer is the shareholder of this entity  Consulting fee  $-   $345 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common
shareholder		  Operating expense paid on behalf   3,948    1,315 
Total        $3,948   $1,660 

 

Amount due to related parties

 

Name of Related Party  Relationship  Nature 

As of

September 30,

2023

  

As of

June 30,

2023

 
        

(Unaudited)

  

(Audited)

 
Chong Chan “Sam” Teo  Directors, Chief Executive Officer, and Shareholder of TGL  Interest-free loan, due on demand  $185,434   $186,579 
Kok Pin “Darren” Tan  Shareholder of TGL  Interest-free loan, due on demand   134,381    134,381 
Total        $319,815   $320,960 

 

Related party loan

 

On December 7, 2020, the Company obtained right of use of a vehicle through signing a trust of deed with Chan Chong “Sam” Teo, the Chief Executive Officer and a shareholder of TGL. In return, the Company is obligated to remit monthly installment auto loan payment related to this vehicle on behalf of the related party mentioned above. The total amount of loan that the Company is entitled to repay is approximately $27,000 (RM 114,000). The auto loan bear 5.96% of interest rate per annum with 60 equal monthly installment payment due on the first of each month. As of September 30, 2023, such loan has an outstanding balance of $12,249, of which $6,755 due after 12 months period and classified as related party loan, non-current portion. The interest expense was $322 and $271 for the three months ended September 30, 2023 and 2022, respectively.

 

Related party transactions

 

Purchase from related parties

 

Name of Related Party  Relationship  Nature  For the
three months
ended
September 30,
2023		   For the
three months
ended
September 30,
2022		 
         (Unaudited)   (Unaudited) 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Purchase of products  $12,824   $
-
 

 

 

Equipment purchased from a related party

 

Name of Related Party  Relationship  Nature  For the
three months
ended
September 30,
2023		  

For the
three months
ended
September 30,
2022

 
          (Unaudited)    (Unaudited) 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Purchase of equipment  $4,987   $13,490 

 

Consulting fees from related parties

 

Name of Related Party  Relationship  Nature  For the
three months
ended
September 30,
2023		  

For the
three months
ended
September 30,
2022

 
          (Unaudited)    (Unaudited) 
Imej Jiwa Communications Sdn Bhd  Voon Him “Victor” Hoo, the Company’s former Chairman and Managing Director is the director of this entity  Consulting fess   
-
    2,744 
True Sight Sdn Bhd  Su Huay “Sue” Chuah, the Company’s Chief Marketing Officer is a 40% shareholder of this entity  Consulting fees   24,227    150,175 
Total        $24,227   $152,919