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Related Party Balances and Transactions
 9 Months Ended
Mar. 31, 2025
Related Party Balances and Transactions [Abstract]  
Related Party balances and transactions

Note 13 – Related party balances and transactions

 

Related party balances

 

Other receivable, a related party

 

Name of related party  Relationship  Nature  As of
March 31,
2025		   As of
June 30,
2024		 
          (Unaudited)      
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Equipment rental deposit  $13,333   $12,246 

 

Other payables, related parties

 

Name of Related Party  Relationship  Nature  As of
March 31,
2025		   As of
June 30,
2024		 
         (Unaudited)     
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common
shareholder		  Operating expense paid on behalf   494    761 

 

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 March 31, 2025, such loan has an outstanding balance of $5,961 to be due within the next 12 months.

 

The interest expense was $146 and $151 for the three months ended March 31, 2025 and 2024, respectively. The interest expense was $776 and $507 for the nine months ended March 31, 2025 and 2024, respectively

 

Related party transactions 

 

Purchase from related parties

 

         For the Three Months Ended   For the Nine Months Ended 
         March 31,   March 31, 
Name of Related Party  Relationship  Nature  2025   2024   2025   2024 
         (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited) 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Purchase of products  $           -   $12,310   $            -   $25,594 

Equipment purchased from a related party

 

         For the Three Months Ended   For the Nine Months Ended 
         March 31,   March 31, 
Name of Related Party  Relationship  Nature  2025   2024   2025   2024 
         (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited) 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Purchase of equipment  $
   - 
   $11,001   $
             - 
   $13,149 

 

Operating expenses from related parties 

 

         For the Three Months Ended   For the Nine Months Ended 
         March 31,   March 31, 
Name of Related Party  Relationship  Nature  2025   2024   2025   2024 
         (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited) 
True Sight Sdn Bhd  Su Huay “Sue” Chuah, the Company’s Chief Marketing Officer is a 40% shareholder of this entity(1)  Consulting fees  $
-
   $17,675   $
-
   $51,414 
Ezytronic Sdn Bhd  Jau Long “Jerry” Ooi is a common shareholder  Operating expense   494    -    7,864    16,244 
Total        $494   $17,675   $7,864   $67,658 

 

Note:

 

(1)As of June 21, 2024, Su Huay “Sue” Chuah had resigned as the Company’s Chief Marketing Officer.

 

Common stock issued to related parties for debts cancellation

 

On October 30, 2023, the Company issued a total of 519 restricted shares of common stock to the Company’s Chief Executive Officer, Chong Chan “Sam” Teo, and shareholder, Kok Pin “Darren” Tan (collectively, the “Creditors”) in exchange for the cancellation of $321,562 in aggregate indebtedness owed to the Creditors.

 

Capital Contribution

 

In February 2024, the Company’s Chief Executive Officer, Chong Chan “Sam” Teo, made a capital contribution of $16,348 in addition to the debt cancellation, as further consideration for the common stock issued to him in October 2023.