10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934:

For the Quarterly Period ended September 30, 2017

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE EXCHANGE ACT

For the transition period from __________________ to __________________

Commission File Number: 000-50760

IGS CAPITAL GROUP LIMITED

(Exact Name of Registrant as Specified in its Charter)

Nevada	58-2670972
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

E-702, Block E, Pusat Dagangan Phileo Damansara 1

No. 9, Jalan 16/11, Off Jalan Damansara

46350 Petaling Jaya, Selangor, Malaysia

(Address of Principal Executive Offices)

+ 603-77726616

(Registrant’s Telephone Number, Including Area Code)

G5, Tiara Mutiara (No 139, Jalan Puchong), 58200 Kuala Lumpur, Malaysia
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒     No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒     No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☐	Smaller Reporting Company ☒
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐     No ☒

Number of shares outstanding of each of the issuer’s classes of common equity, as of December 18, 2017: 3,583,175 shares of Common Stock, par value US $0.001

Forward Looking Statements

CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS

The information contained in this 10-Q includes some statements that are not purely historical and that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, perceived opportunities in the market and statements regarding our mission and vision. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. You can generally identify forward-looking statements as statements containing the words “anticipates”, “believes”, “continue”, “could”, “estimates”, “expects”, “intends”, “may”, “might”, “plans”, “possible”, “potential”, “predicts”, “projects”, “seeks”, “should”, “will”, “would” and similar expressions, or the negatives of such terms, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements involve risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. The forward-looking statements contained herein are based on various assumptions, many of which are based, in turn, upon further assumptions. Our expectations, beliefs and forward-looking statements are expressed in good faith on the basis of management’s views and assumptions as of the time the statements are made, but there can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. We disclaim any obligation to update forward-looking statements to reflect events or circumstances after the date hereof. 

2

TABLE OF CONTENTS

ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)	4
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION	13
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	18
ITEM 4. CONTROLS AND PROCEDURES	18
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS	18
ITEM 1A. RISK FACTORS	18
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	18
ITEM 3. DEFAULTS UPON SENIOR SECURITIES	20
ITEM 4. MINE SAFETY DISCLOSURES	20
ITEM 5. OTHER INFORMATION	21
ITEM 6. EXHIBITS	21
SIGNATURES	22
INDEX TO EXHIBITS	23

3

PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED) 

IGS CAPITAL GROUP LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

	As at
	September 30, 2017 (Unaudited)			December 31, 2016 (Audited)
Assets
Non-Current Assets
Property, plant and equipment		35,901			–
Total Non-Current Assets		35,901			–
Current Assets
Goodwill		73,850			–
Investment		13			–
Cash and cash equivalents		31,182			–
Due from related parties		412,717			–
Accounts receivable		467			–
Stock		27,233			–
Deposit and prepayment		6,927			–
Total Current Assets		552,389			–
Total Assets	$	588,290		$	–
Liabilities
Due to related parties		199,133			100,137
Accounts payable		4,940			–
Accrued expenses and other payables		77,021			1,973
Total Liabilities		281,094			102,110
Commitments and contingencies
Stockholders' Equity
Share capital
Authorized: 500,000,000 common shares, par value $0.001 per share
Issued and outstanding: 3,574,927 shares as of September 30, 2017 (December 31, 2016: 105,091,254 shares)		3,575			105,091
Additional paid-in capital		1,537,301			923,070
Share option reserves		89,015			89,015
Accumulated losses		(1,322,695	)		(1,219,286	)
Total Stockholders’ Earnings/(Deficits)		307,196			(102,110	)
Total Liabilities & Stockholders' Equity	$	588,290		$	–

See accompanying notes to condensed consolidated financial statements.

4

IGS CAPITAL GROUP LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the three months ended September 30,						For the nine months ended September 30,
	2017			2016			2017			2016
Net sales	$	24,135		$	–		$	24,135		$	–
Cost of sales		18,729			–			18,729			–
Gross profit		5,406			–			5,406			–
Operating expenses
General and administrative expenses		60,616			15,961			132,537			77,006
Total operating expenses		60,616			15,961			132,537			77,006
Operating loss		(55,210	)		(15,961	)		(127,131	)		(77,006	)
Other income		13,483			–			23,722			1,230
Loss before tax		(41,727	)		(15,961	)		(103,409	)		(75,776	)
Income taxes		–			–			–			–
Net loss	$	(41,727	)	$	(15,961	)	$	(103,409	)	$	(75,776	)
Loss per share
Basic loss per share	$	(0.01	)	$	–		$	–		$	–
Basic weighted average shares outstanding		3,522,741			105,091,254			62,877,327			79,010,831
Diluted loss per share	$	–		$	–		$	–		$	–
Diluted weighted average shares outstanding		7,344,067			105,604,479			66,280,396			79,081,376

See accompanying notes to condensed consolidated financial statements.

5

IGS CAPITAL GROUP LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(UNAUDITED)

	For the nine months ended September 30,
	2017			2016
Cash Flows from Operating Activities
Net loss	$	(103,409	)	$	(75,776	)
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation		617			–
Change in current assets and liabilities:
Increase in stock		(246	)		–
Decrease in accounts receivable		4,267			–
Increase in amounts due from related parties		(472,494	)		–
Decrease in accounts payable		(623	)		–
Increase / (decrease) in accrued expenses and other payables		75,049			(56,749	)
Net cash flows used in operating activities		(496,839	)		(132,525	)
Cash Flows from Investing Activities
Purchase of fixed assets		(754	)		–
Purchase of investment		(13	)		–
Acquisition of a subsidiary, net of cash acquired		22,015
Net cash flows provided by investing activities		21,248			–
Cash Flows from Financing Activities
Issuance of shares		512,691			203,221
Settlement of loans from related parties		(5,918	)		(70,696	)
Net cash flows provided by financing activities		506,773			132,525
Effect of exchange rate changes on cash		–			–
Net Increase in Cash & Cash Equivalent		31,182			–
Cash & Cash Equivalent at beginning of period	$	–		$	–
Cash & Cash Equivalent at end of period	$	31,182		$	–

See accompanying notes to condensed consolidated financial statements.

6

IGS CAPITAL GROUP LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the nine months ended September 30, 2017

(Unaudited)

Note 1.  Nature of Operations

IGS Capital Group Limited ("IGS", or "the Company", or "we", or "us"), formerly known as Sancon Resources Recovery, Inc., is registered in the State of Nevada.

On April 26, 2017, the Company filed a certificate of amendment to its articles of incorporation with the Secretary of State of the State of Nevada (the “Amendment”) changing the Company’s name from “Sancon Resources Recovery, Inc.” to “IGS Capital Group Limited”. The name change became effective with FINRA on June 8, 2017.

On August 22, 2017, the Company and Tan Kok Beng (the “Seller”), entered into a Sale and Purchase Agreement (the "Agreement"). The Seller is the owner of all of the issued and outstanding capital stock (the “Stock”) of IGS Mart SDN BHD, a Malaysia company (“IGS Mart”). Pursuant to the Agreement, the Company purchased the Stock from the Seller for a purchase price of US$60,000. On completion of the transaction on September 16, 2017, IGS Mart became a wholly-owned subsidiary of the Company. 

IGS Mart is a company incorporated in Malaysia on June 2, 2017. It currently operates one convenient store named Like Mart at G-3A Tiara Mutiara 139, Jalan Puchong, 58200 Kuala Lumpur, Malaysia. IGS Mart intends to open an additional 5 convenient stores in Malaysia over the next 15 months. Although there is no assurance of success, the Company believes that there is a good opportunity for expansion of many more outlets after the brand is established.

Note 2.  Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared by management in conformity with both accounting principles generally accepted in the United States of America (“GAAP”), and the instructions of Form 10-Q and Rule 10-01 of Regulations S-X.. However, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of IGS’s management, all adjustments of a normal recurring nature necessary for a fair presentation have been included. The results for the period ended September 30, 2017 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2017 or for any future period. These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with our annual financial statements and the notes thereto for the year ended December 31, 2016, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission.

Note 3.  Summary of Significant Accounting Policies

Use of Estimates

These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles accepted generally in the USA. These principles require management to use its best judgment in determining estimates and assumptions that: affect the reported amounts of assets and liabilities; disclosure of contingent assets and liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for such items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the relevant accounting rules, typically in the period when new information becomes available to management. Actual results in the future could differ from the estimates made in the prior and current periods.

Earnings Per Share

Basic earnings per share ("EPS") is calculated using net earnings (the numerator) divided by the weighted-average number of shares outstanding (the denominator) during the reporting period.  Diluted EPS includes the effect from potentially dilutive securities.

7

Fair Value Measurements and Disclosures

ASC 820 "Fair Value Measurements and Disclosures" codified SFAS No. 107, "Disclosures about Fair Value of Financial Instruments". ASC 820 applies to all entities, transactions, and instruments that require or permit fair value measurements, with specific exceptions and qualifications. The Company is required to disclose estimated fair values of financial instruments. Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments, none of which are held for trading purposes, approximate their respective carrying values of such amounts.

Cash and Cash Equivalent

The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents.

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:

	Expected useful life
Leasehold improvement	10 years
Furniture, fixture and equipment	10 years
Computer and software	10 years

Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.

Depreciation expenses for the three and nine months ended September 30, 2017 and 2016 was $617 and $0, respectively.

Impairment of long-lived assets

In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as property, plant and equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the three and nine months ended September 30, 2017.

Revenue

The Company recognizes its revenue in accordance with the ASC Topic 605, “Revenue Recognition”. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. The recognition of revenues involves certain management judgments. The amount and timing of our revenues could be materially different for any period if management made different judgments or utilized different estimates.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

8

Income Taxes

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

The Company operates in several countries. As a result, we are subject to numerous domestic and foreign tax jurisdictions and tax agreements and treaties among the various taxing authorities. Our operations in these jurisdictions are taxed on various bases: income before taxes, deemed profits and withholding taxes based on revenue. The calculation of our tax liabilities involves consideration of uncertainties in the application and interpretation of complex tax regulations in a multitude of jurisdictions across our global operations.

We regularly assess our position with regard to individual tax exposures and record liabilities for our uncertain tax positions and related interest and penalties. These accruals reflect management's view of the likely outcomes of current and future audits. The future resolution of these uncertain tax positions may be different from the amounts currently accrued and therefore could impact future tax period expense.

Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact upon the amount of income taxes that we provide during any given year.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Recent pronouncements

The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company maintains its books and record in a local currency, Malaysian Ringgit (“MYR”), which is functional currency as being the primary currency of the economic environment in which the entity operates.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. The gains and losses are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

9

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the period ended September 30,
	2017	2016
Period-end MYR : US$1 exchange rate	4.2373	–
Period-average MYR : US$1 exchange rate	4.2373	–

Note 4.  Going Concern Uncertainties

The accompanying condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplate the realization assets and the satisfaction of liabilities in the normal course of business. The Company has the stockholders’ earnings of $307,196 as of September 30, 2017 and the stockholders’ deficits of $102,110 as of December 31, 2016 respectively. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans, additional sales of its common stock or through a possible business combination. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Note 5. Business Combination

On August 23, 2017, the Company acquired 100% of the share capital of IGS Mart SDN. BHD. for a consideration of $60,000.

The following table summarises the consideration paid for IGS Mart SDN. BHD., the fair value of assets acquired and liabilities assumed at the acquisition date.

At August 23, 2017	US$
Total purchase price for the acquisition		60,000
Less: Recognized amounts of identifiable assets acquired and liabilities assumed
Property, plant and equipment		35,765
Inventories		26,987
Trade and other receivables		11,883
Cash and cash equivalents		22,015
Trade and other payables		(110,500	)
Total identifiable net assets		(13,850	)
Goodwill		73,850

Note 6. Related Party Transactions

As of September 30, 2017, the Company owed $102,554 and $96,579 to a director and related companies respectively, $322,747 and $89,970 from a director and related companies respectively.

As of December 31, 2016, the Company owed $17,400 and $82,737 to a director and a shareholder respectively.

On May 4, 2016, (i) 42,582,858 shares of our common stock, valued at $138,000 were issued in lieu of cash compensation for director and secretarial services from March 13, 2014 through June 30, 2016; and (ii) 9,288,400 shares of our common stock, valued at $23,221 were issued in lieu of cash compensation for accounting services from December 22, 2013 through June 30, 2016.

During the period, the Company advanced $237,593 to a director, Kok Seng Yeap, Eddy.

10

Note 7.  Stockholders’ equity

Common stock

On July 10, 2017, 234,000 new shares issued. The total number of shares issued and outstanding increased from 3,242,815 shares to 3,476,815 shares.

On July 20, 2017, 74,703 new shares issued. The total number of shares issued and outstanding increased from 3,476,815 shares to 3,551,518 shares.

On August 1, 2017, 12,830 new shares issued. The total number of shares issued and outstanding increased from 3,551,518 shares to 3,564,348 shares.

On September 22, 2017, 10,579 new shares issued. The total number of shares issued and outstanding increased from 3,564,348 shares to 3,574,927 shares.

For the new issuance of shares, please refer to Item 2. UNREGISTERED SALES OF EQUITY AND USE OF PROCEEDS of PART II. OTHER INFORMATION.

Stock options

On December 5, 2012, the Company entered into a settlement agreement with Dragon Wings for the settlement of the claim by Dragon Wings. In consideration of IGS's agreement to make the payments in the form of common shares and share options listed in the settlement agreement. The Company would give the option to Dragon Wings to purchase 6,000,000 common shares; the option may be exercised by Dragon Wings in whole or in part, at any time within 5 years from the date of this settlement agreement with the exercise price at US$0.01 per share, with dilution protection and subject to share split adjustment.

	As at
	September 30, 2017		December 31, 2016
Loan settled by share option	$	149,015	$	149,015
Par value of the common shares		60,000		60,000
Fair value of share option	$	89,015	$	89,015

Note 8. Income Taxes

The Company has U.S. federal net operating loss carry forwards that if unused could expire in varying amounts in the years through 2020 to 2026. However, as a result of the acquisition, the amount of net operating loss carry forward available to be utilized in reduction of future taxable income was reduced pursuant to the change in control provisions of Section 382 of the Internal Revenue Code.

The Company’s subsidiary operating in Malaysia subject to the Malaysia Corporate Tax Laws at a tax rate of 24% on the assessable income for its tax year. Any unutilized losses can be carried forward indefinitely to be utilized against income from any business source.

A 100% valuation allowance has been established as a reserve against the deferred tax assets arising from the net operating losses and other net temporary differences since it cannot, at this time, be considered more likely than not that their benefit will be realized in the future.

11

Note 9. Commitments and contingencies

As of September 30, 2017, the Company does not have any significant commitments.

Note 10. Subsequent events

On November 1, 2017, the Board of Directors of the Company approved the subscription of the Company’s shares with details as follows were tabled.

No.	Name of Applicant	Number of shares	Price (USD)	Date of Application
1	KIM JUNG HWAN	400	500.00	October 26, 2017
2	PARK ANSUK	1,344	1,680.00	October 26, 2017
3	WOO DONGHWAN	6,504	8,130.00	October 26, 2017

According to the issuance of total 8,248 shares of common stock, the total number of share outstanding increased from 3,574,927 shares to 3,583,175 shares.

12

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Item 2(a). Discussion for the Interim Operations and Financial Condition

Introduction

Management's discussion and analysis of results of operations and financial condition ("MD&A") is provided as a supplement to the accompanying financial statements and footnotes to help provide an understanding of our financial condition, changes in financial condition and results of operations. The MD&A is organized as follows:

• Caution concerning forward-looking statements and risk factors. This section discusses how certain forward-looking statements made by us throughout the MD&A and in the financial statements are based on our present expectations about future events and are inherently susceptible to uncertainty and changes in circumstances.

• Overview. This section provides a general description of our business, as well as recent developments that we believe are important in understanding the results of operations and to anticipate future trends in those operations.

• Results of operations. This section provides an analysis of our results of operations for the three months and nine months ended September 30, 2017 compared to the same period in 2016. A brief description is provided of transactions and events, including any related party transactions that affect the comparability of the results being analyzed.

• Liquidity and capital resources. This section provides an analysis of our financial condition and cash flows for the three months and nine months ended September 30, 2017 and 2016.

• Critical accounting policies. This section provides an analysis of the significant estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities.

Forward-looking Statements

We have sought to identify what we believe to be the most significant risks to our business, but we cannot predict whether, or to what extent, any of such risks may be realized nor can we guarantee that we have identified all possible risks that might arise. Investors should carefully consider all of such risk factors before making an investment decision with respect to our Common Stock.

The following discussion should be read in conjunction with our financial statements and the notes thereto, and the other financial information appearing elsewhere in this document. In addition to historical information, the following discussion and other parts of this document contain certain forward-looking information. When used in this discussion, the words "believes", "anticipates", "expects", and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from projected results, due to a number of factors beyond our control. We do not undertake to publicly update or revise any of our forward-looking statements, even if experience or future changes show that the indicated results or events will not be realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Readers are also urged to carefully review and consider our discussions regarding the various factors, which affect our business, included in this section and elsewhere in this report.

Factors that might cause actual results, performance or achievements to differ materially from those projected or implied in such forward-looking statements include, among other things: (i) the impact of competitive products; (ii) changes in law and regulations; (iii) limitations on future financing; (iv) increases in the cost of borrowings and unavailability of debt or equity capital; (v) our inability to gain and/or hold market share; (vi) managing and maintaining growth; (vii) customer demands; (viii) market and industry conditions, (ix) the success of product development and new product introductions into the marketplace; (x) the departure of key members of management; as well as other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission.

13

Limited Market Due To Penny Stock

The Company's stock differs from many stocks, in that it is a "penny stock". The Securities and Exchange Commission has adopted a number of rules to regulate "penny stock". These rules include, but are not limited to, Rules 3a5l-l, 15g-1, 15g-2, 15g-3, 15g-4, 15g-5, 15g-6 and 15g-7 under the Securities and Exchange Act of 1934, as amended. Because our securities probably constitute "penny stock" within the meaning of the rules, the rules would apply to us and our securities. The rules may further affect the ability of owners of our stock to sell their securities in any market that may develop for them. There may be a limited market for penny stocks, due to the regulatory burdens on broker-dealers. The market among dealers may not be active. Investors in penny stock often are unable to sell stock back to the dealer that sold them the stock. The mark-ups or commissions charged by the broker-dealers may be greater than any profit a seller may make. Because of large dealer spreads, investors may be unable to sell the stock immediately back to the dealer at the same price the dealer sold the stock to the investor. In some cases, the stock may fall quickly in value. Investors may be unable to reap any profit from any sale of the stock, if they can sell it at all. Stockholders should be aware that, according to the Securities and Exchange Commission Release No. 34- 29093, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. These patterns include: - Control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; - Manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; - "Boiler room" practices involving high pressure sales tactics and unrealistic price projections by inexperienced sales persons; - Excessive and undisclosed bid-ask differentials and markups by selling broker-dealers; and - The wholesale dumping of the same securities by promoters and broker- dealers after prices have been manipulated to a desired level, along with the inevitable collapse of those prices with consequent investor losses. Furthermore, the "penny stock" designation may adversely affect the development of any public market for the Company's shares of common stock or, if such a market develops, its continuation. Broker-dealers are required to personally determine whether an investment in "penny stock" is suitable for customers. Penny stocks are securities (i) with a price of less than five dollars per share; (ii) that are not traded on a "recognized" national exchange; (iii) whose prices are not quoted on the NASDAQ automated quotation system (NASDAQ-listed stocks must still meet requirement (i) above); or (iv) of an issuer with net tangible assets less than $2,000,000 (if the issuer has been in continuous operation for at least three years) or $5,000,000 (if in continuous operation for less than three years), or with average annual revenues of less than $6,000,000 for the last three years. Section 15(g) of the Exchange Act and Rule 15g-2 of the Commission require broker-dealers dealing in penny stocks to provide potential investors with a document disclosing the risks of penny stocks and to obtain a manually signed and dated written receipt of the document before effecting any transaction in a penny stock for the investor‘s account. Potential investors in the Company‘s common stock are urged to obtain and read such disclosure carefully before purchasing any shares that are deemed to be "penny stock". Rule 15g-9 of the Commission requires broker-dealers in penny stocks to approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker-dealer to (i) obtain from the investor information concerning his or her financial situation, investment experience and investment objectives; (ii) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and that the investor has sufficient knowledge and experience as to be reasonably capable of evaluating the risks of penny stock transactions; (iii) provide the investor with a written statement setting forth the basis on which the broker-dealer made the determination in (ii) above; and (iv) receive a signed and dated copy of such statement from the investor, confirming that it accurately reflects the investor's financial situation, investment experience and investment objectives. Compliance with these requirements may make it more difficult for the Company's stockholders to resell their shares to third parties or to otherwise dispose of them.

Overview of the Company and its Operations

On August 22, 2017, the Company purchased all of the issued and outstanding capital stock of IGS Mart SDN BHD, a Malaysia company (“IGS Mart”). On completion of the transaction on September 16, 2017, IGS Mart became a wholly-owned subsidiary of the Company.

IGS Mart is a company incorporated in Malaysia on June 2, 2017. It currently operates one convenient store named Like Mart at G-3A Tiara Mutiara 139, Jalan Puchong, 58200 Kuala Lumpur, Malaysia.

14

IGS's Visions and Goals

IGS Mart intends to open an additional 5 convenient stores in Malaysia over the next 15 months. Although there is no assurance of success, the Company believes that there is a good opportunity for expansion of many more outlets after the brand is established.

The directors are always on the look-out for viable business that the Company can acquire in Asia.

Employees

As of September 30, 2017, the Company had 6 employees.

Factors That May Affect Future Results

The Company's ability to execute its business strategy and to sustain its operations depends upon its ability to maintain or procure capital. There can be no absolute assurance the necessary amount of capital will continue to be available to the Company on favorable terms, or at all. The Company's inability to obtain sufficient capital would limit the Company's ability to: (i) acquire new business and (ii) fund its working capital needs. The Company's access to capital may have a material adverse effect on the Company's business, financial condition and/or results of operations.

There can be no absolute assurance the Company will be able to effectively manage its existing or the possible future expansion of its operations, or the Company's systems, procedures or controls will be adequate to support the Company's operations. Consequently, the Company's business, financial condition and/or results of operations could be possibly and adversely affected.

As a public company, IGS is subject to certain regulatory requirements including, but not limited to, compliance with Section 404 of the Sarbanes-Oxley Act of 2002 ("SOX404"). Such compliance results in significant additional costs to the Company by increased audit and consulting fees, and the time required by management to address the regulations.

Results of Operations - Comparison between the three months and nine months ended September 30, 2017 and the same periods in 2016.

Net Sales

The Company had revenues of $24,135 for the three months and nine months ended September 30, 2017 respectively and $nil for the same periods in 2016.

Cost of Sales

Cost of sales for the three months and nine months ended September 30, 2017 was $18,729 respectively and $nil for the same periods in 2016.

Gross Profit

Gross profit for the three months and nine months ended September 30, 2017 was $5,406 respectively and $nil for the same periods in 2016.

15

General and administrative expenses

General and administrative expenses increased to $60,616 and $132,537 for the three months and nine months ended September 30, 2017 respectively, from $15,961 and $77,006 for the three months and nine months ended September 30, 2016 respectively, an increase of $44,655 and $55,531 respectively. Of these amounts, $28,167 and $58,167 related to the value of cash compensation to our directors and secretary for the three and nine months, respectively, ended September 30, 2017 and $nil and $30,000 related to the value of cash compensation to our directors and secretary for the three and nine months, respectively, ended September 30, 2016. In addition, a substantial portion of our expenses for the three and nine months, respectively, ended September 30, 2017 related to accounting service fees, audit fees, legal service fees, professional service fees and salaries, and for the three and nine months ended September 30, 2016 related to accounting service fees, audit fees, legal service fees and professional service fees.

Other Income

The other income for the three months and nine months ended September 30, 2017 was $13,483 and $23,722 respectively, compared to the other income of $nil and $1,230 for the three months and nine months ended September 30, 2016, an increase of $13,483 and $22,492 respectively.

Income Tax

There were no income taxes for the three months and nine months ended September 30, 2017 and the same periods in 2016.

Net loss

The net loss for the three months and nine months ended September 30, 2017 was $41,727 and $103,409 respectively, compared to the net loss of $15,961 and $75,776 for the three months and nine months ended September 30, 2016 respectively, an increase of $25,766 and $27,633 respectively.

Liquidity and Capital Resources For nine Months Ended September 30, 2017 and 2016

Working Capital

	As of		As of
	September 30,		December 31,
	2017		2016
Total Assets	$	588,290	$	–
Total Liabilities		281,094		102,110
Working Capital	$	307,196	$	(102,110	)

As shown in the accompanying financial statements, the Company has accumulated loss of $1,322,695 as of September 30, 2017 compared to $1,219,286 as of December 31, 2016. There was a working capital earning of $307,196 on September 30, 2017 and it was a working capital deficit of $102,110 as of December 31, 2016. It has increased by $409,306. This is due to the settlement of liability due to related parties by issuance of common shares.

Operating Activities

The net cash flows used in operating activities for the nine months ended September 30, 2017 was $496,839 compared to $132,525 for the nine months ended September 30, 2016. The increase is attributed to increase in amount due from related parties.

16

Investing Activities

The net cash flows provided by investing activities for the nine months ended September 30, 2017 was $21,248 compared to $nil for the nine months ended September 30, 2016. The increase is attributed to acquisition of a subsidiary.

Financing Activities

The net cash flows provided by financing activities for the nine months ended September 30, 2017 was $506,773 compared to $132,525 for the nine months ended September 30, 2016. The Company financed its growth by utilizing cash reserves, loans from related parties and issuance of common shares. Loans from related parties were unsecured, and deferred payment term and without interest bearing. The Company’s primary use of funds was for operation expense and working capital.

Critical Accounting Policies and Estimates

The preparation of our financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect our reported assets, liabilities, revenues, and expenses, and the disclosure of contingent assets and liabilities. We base our estimates and judgments on historical experience and on various other assumptions we believe to be reasonable under the circumstances. Future events, however, may differ markedly from our current expectations and assumptions. While there are a number of significant accounting policies affecting our financial statements; we believe the following critical accounting policies involve the most complex, difficult and subjective estimates and judgments: allowance for doubtful accounts; income taxes; stock-based compensation; asset impairment.

Details of critical accounting policies are set out in notes to the condensed consolidated financial statement in Item 1.

Stock-Based Compensation

Effective January 1, 2006, the beginning of IGS's first fiscal quarter of 2006, the Company adopted the fair value recognition provisions of SFAS 123R (ASC 718), using the modified-prospective transition method. Under this transition method, stock-based compensation expense was recognized in the consolidated financial statements for granted stock options, since the related purchase discounts exceeded the amount allowed under SFAS 123R (ASC 718) for non-compensatory treatment. Compensation expense recognized included: the estimated expense for stock options granted on and subsequent to January 1, 2006, based on the grant date fair value estimated in accordance with the provisions of SFAS 123R (ASC 718); and the estimated expense for the portion vesting in the period for options granted prior to, but not vested as of January 1, 2006, based on the grant date fair value estimated in accordance with the original provisions of SFAS 123 (ASC 718). Results for prior periods have not been restated, as provided for under the modified-prospective method.

On December 5, 2012, the Company entered into a settlement agreement with Dragon Wings for the settlement of the claim by Dragon Wings. In consideration of IGS's agreement to make the payments in the form of common shares and share options listed in the settlement agreement. The Company would give the option to Dragon Wings to purchase 6,000,000 common shares; the option may be exercised by Dragon Wings in whole or in part, at any time within 5 years from the date of this settlement agreement with the exercise price at US$0.01 per share, with dilution protection and subject to share split adjustment.

For other items paid for by common stock, the value of the transaction is determined by the value of the goods or services received, measured at the time of the transaction. The corresponding stock value, used to determine the number of share to be issued, is the value of the average price for the 20 to 30 days prior to the transaction date.

Item 2(b). Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, that are material to investors.

17

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The information is not required of smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including our principal executive officer and the principal financial officer, we conducted an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as of the end of the period covered by this report (the "Evaluation Date"). Based on this evaluation, our principal executive officer and principal financial officer concluded as of the Evaluation Date, that our disclosure controls and procedures were not effective.

During the nine months ended September 30, 2017, there were no changes in our internal accounting controls or in other factors that materially affected our internal controls over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

The information is not required for smaller reporting companies.

ITEM 2. UNREGISTERED SALES OF EQUITY AND USE OF PROCEEDS

We have sold the following equity securities within the period covered by this report in transactions which were not registered under the Securities Act of 1933, as amended: Except where otherwise noted, all shares were issued in offshore transactions in reliance upon the exemption from the registration requirements of the Securities Act in accordance with Regulation S promulgated thereunder.

No.	Name of shareholder	Number of shares	Price(US$)	Date of issuance
1	PAVITHIRAN DEVADASAN	3,000	300.00	July 10, 2017
2	RUSTINA SING	8,000	800.00	July 10, 2017
3	ZAINUDDIN BIN YAACOB	6,000	600.00	July 10, 2017
4	ANBAZAGAN SAMUEL	15,000	1,500.00	July 10, 2017
5	OTHMAN BIN AHMAN	3,000	300.00	July 10, 2017
6	ROSLINA BINTI AMALUDDIN	3,000	300.00	July 10, 2017
7	SITI SAUDAH BINTI SYED MUDAN	6,000	600.00	July 10, 2017
8	FAZIAH BINTI SELAMAT	3,000	300.00	July 10, 2017
9	ROHAYAH BINTI MOHD	6,000	600.00	July 10, 2017
10	FAZUAH BINTI HAJI ABD RAHIM	6,000	600.00	July 10, 2017
11	MOHD FIRDAUS BIN MANSOR	3,000	300.00	July 10, 2017
12	AMIR BIN SHAIDIN	3,000	300.00	July 10, 2017
13	SHANDON BIN ABD WAHAB	3,000	300.00	July 10, 2017
14	HASIAH BINTI ABD RAHIM	3,000	300.00	July 10, 2017
15	PAIZAH BINTI BOKHARI	3,000	300.00	July 10, 2017
16	HERMES GEORGE	13,000	1,300.00	July 10, 2017
17	CHE SALIM BIN SAID	9,000	900.00	July 10, 2017
18	YA ACUB BIN DOLLAH	3,000	300.00	July 10, 2017
19	SHIM SHOO FAH	15,000	1,500.00	July 10, 2017
20	SHIM SHOO FAH	10,000	1,000.00	July 10, 2017

18

21	AMINUDDIN BIN HAJI MUHAMMAD SAID	30,000	3,000.00	July 10, 2017
22	NG KOK CHONG	10,000	1,000.00	July 10, 2017
23	LIM WEI CHING	50,000	5,000.00	July 10, 2017
24	ONG LEE CHIA	20,000	2,000.00	July 10, 2017
25	YOO HAK JONG	3,585	8,570.00	July 20, 2017
26	PARK JONGSUL	1,744	4,170.00	July 20, 2017
27	PARK SOONSEK	3,544	8,470.00	July 20, 2017
28	LEE SOON KYO	489	1,170.00	July 20, 2017
29	KIM OKJU	782	1,870.00	July 20, 2017
30	CHOI YOUNGCHAE	1,093	2,613.00	July 20, 2017
31	CHOI HYE KYUNG	7,280	17,400.00	July 20, 2017
32	HA KEUM JA	1,255	3,000.00	July 20, 2017
33	DOO HO	1,243	2,970.00	July 20, 2017
34	PARK YOUNG MAN	418	1,000.00	July 20, 2017
35	LEE SEUNGBOK	2,038	4,870.00	July 20, 2017
36	LEE YUBEEN	1,255	3,000.00	July 20, 2017
37	KIM YOUNG SUNG	837	2,000.00	July 20, 2017
38	KIM KYUNG WON	1,255	3,000.00	July 20, 2017
39	LIM MUN SEOP	418	1,000.00	July 20, 2017
40	LEE HOON	418	1,000.00	July 20, 2017
41	KIM DAE IL	837	2,000.00	July 20, 2017
42	AHN JONG CHUL	837	2,000.00	July 20, 2017
43	KANG KYUNG HEE	418	1,000.00	July 20, 2017
44	KIM YEON POONG	8,954	21,400.00	July 20, 2017
45	KIM HWOIIL	2,092	5,000.00	July 20, 2017
46	PARK JIHYEON	4,602	11,000.00	July 20, 2017
47	LEE GEUM SOON	364	870.00	July 20, 2017
48	KIM YOON	837	2,000.00	July 20, 2017
49	NAM HYERAN	2,196	2,624.00	July 20, 2017
50	LEE NAMYONG	1,506	1,800.00	July 20, 2017
51	KWON BOKCHOOL	3,766	4,500.00	July 20, 2017
52	BAEK HEEJA	1,506	1,800.00	July 20, 2017
53	SONG MYUNGBOON	2,510	3,000.00	July 20, 2017
54	KO CHANG BUM	837	1,000.00	July 20, 2017
55	PAK EUNSUN	1,506	1,800.00	July 20, 2017
56	CHOI JEOMNIM	837	1,000.00	July 20, 2017
57	KANG SEONGHUI	2,259	2,700.00	July 20, 2017
58	KIM HONG WOO	628	750.00	July 20, 2017
59	KIM KEUMHO	837	1,000.00	July 20, 2017
60	WOO DONGHWAN	4,978	5,949.00	July 20, 2017
61	WOO YOUNG HWAN	1,257	2,000.00	July 20, 2017
62	SEO YONGMOON	3,485	7,318.00	July 20, 2017
63	KIM JAE YEON	4,866	12,165.56	August 1, 2017
64	OH JOUNGSOUK	400	1,000.00	August 1, 2017
65	PARK JONGSUL	1,668	4,170.00	August 1, 2017

19

66	SEO HYOSEUNG	1,200	3,000.00	August 1, 2017
67	KIM KWANGSUK	1,440	1,800.00	August 1, 2017
68	RUSNANI BINTI AHMAD	120	300.00	August 1, 2017
69	RITA SARID	240	600.00	August 1, 2017
70	WONG OI LAN	800	2,000.00	August 1, 2017
71	KANG DONGKUK	1,696	4,238.89	August 1, 2017
72	YANG JEONG SOON	400	1,000.00	August 1, 2017
73	BAG GEUM SU	357	1,000.00	September 22, 2017
74	HAN MEE SUN	357	1,000.00	September 22, 2017
75	PARK KEUMSIM	357	1,000.00	September 22, 2017
76	AN MIKYEONG	357	1,000.00	September 22, 2017
77	KIM JAERYUN	357	1,000.00	September 22, 2017
78	JANG MINHEE	1,000	2,800.00	September 22, 2017
79	DO HYUNTAE	357	1,000.00	September 22, 2017
80	HWANG OKBOUN	357	1,000.00	September 22, 2017
81	SUNG JONGPIL	357	1,000.00	September 22, 2017
82	KIM JUNGJA	1,296	3,630.00	September 22, 2017
83	NOH WOOJEONG	714	2,000.00	September 22, 2017
84	KIM MINSEO	357	1,000.00	September 22, 2017
85	KIM EUNSOOK	357	1,000.00	September 22, 2017
86	KIM EUNHYANG	357	1,000.00	September 22, 2017
87	SON BOGYEONG	357	1,000.00	September 22, 2017
88	HWANG YOUNGOK	869	2,432.00	September 22, 2017
89	LEE CHOULYONG	310	870.00	September 22, 2017
90	RYU JEAHAG	357	1,000.00	September 22, 2017
91	KIM JOUNG MI	310	870.00	September 22, 2017
92	KIM GIWOO	357	1,000.00	September 22, 2017
93	BASIAH BINTI MUSAL	117	327.00	September 22, 2017
94	SANNANG BIN RAFI	432	1,209.00	September 22, 2017
95	SHIM SHOO FAH	533	1,491.00	September 22, 2017

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

20

ITEM 5. OTHER INFORMATION

On September 19, 2017, Ms. HE Qianying resigned from the Board of Directors and her respective executive positions of IGS Capital Group Limited as part of the Company’s management reorganization. The resignation by her did not involve any disagreements with the Company or the management of the Company.

On September 20, 2017, the Company engaged HKCMCPA Company Limited, as its new independent registered public accountant.

On November 1, 2017, the Board of Directors of the Company approved the subscription of the company’s shares. Total 8,248 shares of common stock issued. The total number of share outstanding increased to 3,583,175 shares. For details, please refer to Note 8 stated in Item 1 of Part I.

ITEM 6. EXHIBITS

(1)   Exhibits: Exhibits required to be attached by Item 601 of Regulation S-K are listed in the Index to Exhibits following the signature page of this Form 10-Q, which is incorporated herein by reference.

21

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	IGS CAPITAL GROUP LIMITED
Dated: December 29, 2017	By:	/s/ Kok Seng Yeap
		Kok Seng Yeap
		Director
		(Chief Executive Officer, Chief Financial Officer and Secretary)

22

INDEX TO EXHIBITS

Exhibit No.	Description
31.1	Certification of Director and Chief Executive Officer
31.2	Certification of Chief Financial Officer
32.1	Statement required by 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
32.2	Statement required by 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
101	The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, formatted in XBRL (eXtensible Business Reporting Language); (i) Balance Sheets at September 30, 2017 and December 31, 2016, (ii) Statement of Operations for the three months and nine months ended September 30, 2017 and 2016, (iii) Statement of Cash Flows for the nine months ended September 30, 2017 and 2016, and (iv) Notes to Financial Statements.

23

EX-31.1

EXHIBIT 31.1

RULE 13a-14(a)/ 15d-14(a) CERTIFICATION

For Form 10-Q for the Period Ended September 30, 2017

I, Kok Seng Yeap, Director and Chief Executive Officer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended September 30, 2017 of IGS Capital Group Limited (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.  The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors   (or persons performing the equivalent functions):

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 29, 2017

/s/ Kok Seng Yeap
Kok Seng Yeap

Director

(Chief Executive Officer) 

EX-31.2

EXHIBIT 31.2

RULE 13a-14(a)/ 15d-14(a) CERTIFICATION

For Form 10-Q for the Period Ended September 30, 2017

I, Kok Seng Yeap, Chief Financial Officer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended September 30, 2017 of IGS Capital Group Limited (the “registrant”);

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.  The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 29, 2017

/s/ Kok Seng Yeap
Kok Seng Yeap

Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of IGS Capital Group Limited (the “Company”) for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Kok Seng Yeap, Director and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that based on my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 29, 2017

/s/ Kok Seng Yeap
Kok Seng Yeap

Director

(Chief Executive Officer)

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of IGS Capital Group Limited (the “Company”) for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Kok Seng Yeap, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that based on my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 29, 2017

/s/ Kok Seng Yeap
Kok Seng Yeap

Chief Financial Officer

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Dec. 18, 2017
Document And Entity Information
Entity Registrant Name	IGS Capital Group Ltd
Entity Central Index Key	0001288195
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,583,175
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017

XML

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Property, plant and equipment	$ 35,901	$ 0
Total non-current assets	35,901	0
Goodwill	73,850	0
Investment	13	0
Cash and cash equivalents	31,182	0
Due from related parties	412,717	0
Accounts receivables	467	0
Stock	27,233	0
Deposit and prepayment	6,927	0
Total current assets	552,389	0
Total Assets	588,290	0
LIABILITY
Due to related parties	199,133	100,137
Accounts payables	4,940	0
Accrued expenses and other payables	77,021	1,973
Total current liabilities and total liabilities	281,094	102,110
STOCKHOLDERS' EQUITY
Authorized: 500,000,000 common shares, par value $0.001 per share, Issued and outstanding: 3,574,927 shares as of September 30, 2017 (December 31, 2016: 105,091,254 shares)	3,575	105,091
Additional paid-in capital	1,537,301	923,070
Share option reserves	89,015	89,015
Accumulated losses	(1,322,695)	(1,219,286)
Total stockholders' earnings/(deficits)	307,196	(102,110)
Total Liability and Stockholders' equity	$ 588,290	$ 0

XML

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock shares authorized	500,000,000	500,000,000
Common stock par value	$ 0.001	$ 0.001
Common stock shares issued	3,574,927	105,091,254
Common stock shares outstanding	3,574,927	105,091,254

XML

Condensed Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 24,135	$ 0	$ 24,135	$ 0
Cost of sales	18,729	0	18,729	0
Gross profit	5,406	0	5,406	0
Operating Expenses
General and administrative expenses	60,616	15,961	132,537	77,006
Total operating expenses	60,616	15,961	132,537	77,006
Operating Loss	(55,210)	(15,961)	(127,131)	(77,006)
Other income	13,483	0	23,722	1,230
Loss before tax	(41,727)	(15,961)	(103,409)	(75,776)
Income taxes	0	0	0	0
Net loss	$ (41,727)	$ (15,961)	$ (103,409)	$ (75,776)
Loss per share:
Basic loss per share	$ (0.01)	$ 0.00	$ 0.00	$ 0.00
Basic weighted average shares outstanding	3,522,741	105,091,254	62,877,327	79,010,831
Diluted loss per share	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Diluted weighted average shares outstanding	7,344,067	105,604,479	66,280,396	79,081,376

XML

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net loss	$ (103,409)	$ (75,776)
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation	617	0
Change in current assets and liabilities
Increase in stock	(246)	0
Decrease in account receivables	4,267	0
Increase in amounts due from related parties	(472,494)	0
Decrease in account payables	(623)	0
Increase / (decrease) in accrued expenses and other payables	75,049	(56,749)
Net cash flows used in operating activities	(496,839)	(132,525)
Cash Flows from Investing Activities
Purchase of fixed assets	(754)	0
Purchase of investment	(13)	0
Acquisition of a subsidiary, net of cash acquired	22,015	0
Net cash provided by investing activities	21,248	0
Cash Flows from Financing Activities
Issuance of shares	512,691	203,221
Settlement of loans from related parties	(5,918)	(70,696)
Net cash flows provided by financing activities	506,773	132,525
Effect of exchange rate changes on cash	0	0
Net increase in cash & cash equivalent	31,182	0
Cash & cash equivalent at beginning of period	0	0
Cash & cash equivalent at end of period	$ 31,182	$ 0

XML

1. Nature of Operations

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

IGS Capital Group Limited ("IGS", or "the Company", or "we", or "us"), formerly known as Sancon Resources Recovery, Inc., is registered in the State of Nevada.

On April 26, 2017, the Company filed a certificate of amendment to its articles of incorporation with the Secretary of State of the State of Nevada (the “Amendment”) changing the Company’s name from “Sancon Resources Recovery, Inc.” to “IGS Capital Group Limited”. The name change became effective with FINRA on June 8, 2017.

On August 22, 2017, the Company and Tan Kok Beng (the “Seller”), entered into a Sale and Purchase Agreement (the "Agreement"). The Seller is the owner of all of the issued and outstanding capital stock (the “Stock”) of IGS Mart SDN BHD, a Malaysia company (“IGS Mart”). Pursuant to the Agreement, the Company purchased the Stock from the Seller for a purchase price of US$60,000. On completion of the transaction on September 16, 2017, IGS Mart became a wholly-owned subsidiary of the Company.

IGS Mart is a company incorporated in Malaysia on June 2, 2017. It currently operates one convenient store named Like Mart at G-3A Tiara Mutiara 139, Jalan Puchong, 58200 Kuala Lumpur, Malaysia. IGS Mart intends to open an additional 5 convenient stores in Malaysia over the next 15 months. Although there is no assurance of success, the Company believes that there is a good opportunity for expansion of many more outlets after the brand is established.

XML

2. Basis of Presentation

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared by management in conformity with both accounting principles generally accepted in the United States of America (“GAAP”), and the instructions of Form 10-Q and Rule 10-01 of Regulations S-X. However, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). In the opinion of IGS’s management, all adjustments of a normal recurring nature necessary for a fair presentation have been included. The results for the period ended September 30, 2017 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2017 or for any future period. These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with our annual financial statements and the notes thereto for the year ended December 31, 2016, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission.

XML

3. Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles accepted generally in the USA. These principles require management to use its best judgment in determining estimates and assumptions that: affect the reported amounts of assets and liabilities; disclosure of contingent assets and liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for such items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the relevant accounting rules, typically in the period when new information becomes available to management. Actual results in the future could differ from the estimates made in the prior and current periods.

Earnings Per Share

Basic earnings per share ("EPS") is calculated using net earnings (the numerator) divided by the weighted-average number of shares outstanding (the denominator) during the reporting period. Diluted EPS includes the effect from potentially dilutive securities.

Fair Value Measurements and Disclosures

ASC 820 "Fair Value Measurements and Disclosures" codified SFAS No. 107, "Disclosures about Fair Value of Financial Instruments". ASC 820 applies to all entities, transactions, and instruments that require or permit fair value measurements, with specific exceptions and qualifications. The Company is required to disclose estimated fair values of financial instruments. Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments, none of which are held for trading purposes, approximate their respective carrying values of such amounts.

Cash and Cash Equivalent

The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents.

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:

	Expected useful life
Leasehold improvement	10 years
Furniture, fixture and equipment	10 years
Computer and software	10 years

Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.

Depreciation expenses for the three and nine months ended September 30, 2017 and 2016 was $617 and $0, respectively.

Impairment of long-lived assets

In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as property, plant and equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the three and nine months ended September 30, 2017.

Revenue

The Company recognizes its revenue in accordance with the ASC Topic 605, “Revenue Recognition”. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. The recognition of revenues involves certain management judgments. The amount and timing of our revenues could be materially different for any period if management made different judgments or utilized different estimates.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Income Taxes

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

The Company operates in several countries. As a result, we are subject to numerous domestic and foreign tax jurisdictions and tax agreements and treaties among the various taxing authorities. Our operations in these jurisdictions are taxed on various bases: income before taxes, deemed profits and withholding taxes based on revenue. The calculation of our tax liabilities involves consideration of uncertainties in the application and interpretation of complex tax regulations in a multitude of jurisdictions across our global operations.

We regularly assess our position with regard to individual tax exposures and record liabilities for our uncertain tax positions and related interest and penalties. These accruals reflect management's view of the likely outcomes of current and future audits. The future resolution of these uncertain tax positions may be different from the amounts currently accrued and therefore could impact future tax period expense.

Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact upon the amount of income taxes that we provide during any given year.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Recent pronouncements

The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company maintains its books and record in a local currency, Malaysian Ringgit (“MYR”), which is functional currency as being the primary currency of the economic environment in which the entity operates.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. The gains and losses are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the period ended September 30,
	2017	2016
Period-end MYR : US$1 exchange rate	4.2373	–
Period-average MYR : US$1 exchange rate	4.2373	–

XML

4. Going Concern Uncertainties

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern Uncertainties

The accompanying condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplate the realization assets and the satisfaction of liabilities in the normal course of business. The Company has the stockholders’ earnings of $307,196 as of September 30, 2017 and the stockholders’ deficits of $102,110 as of December 31, 2016 respectively. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans, additional sales of its common stock or through a possible business combination. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

XML

5. Business Combination

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Business Combination

On August 23, 2017, the Company acquired 100% of the share capital of IGS Mart SDN. BHD. for a consideration of $60,000.

The following table summarises the consideration paid for IGS Mart SDN. BHD., the fair value of assets acquired and liabilities assumed at the acquisition date.

At August 23, 2017	US$
Total purchase price for the acquisition		60,000
Less: Recognized amounts of identifiable assets acquired and liabilities assumed
Property, plant and equipment		35,765
Inventories		26,987
Trade and other receivables		11,883
Cash and cash equivalents		22,015
Trade and other payables		(110,500	)
Total identifiable net assets		(13,850	)
Goodwill		73,850

XML

6. Related Party Transactions

9 Months Ended

Sep. 30, 2017

Related Party Transactions [Abstract]

Related Party Transactions

As of September 30, 2017, the Company owed $102,554 and $96,579 to a director and related companies respectively, $322,747 and $89,970 from a director and related companies respectively.

As of December 31, 2016, the Company owed $17,400 and $82,737 to a director and a shareholder respectively.

On May 4, 2016, (i) 42,582,858 shares of our common stock, valued at $138,000 were issued in lieu of cash compensation for director and secretarial services from March 13, 2014 through June 30, 2016; and (ii) 9,288,400 shares of our common stock, valued at $23,221 were issued in lieu of cash compensation for accounting services from December 22, 2013 through June 30, 2016.

During the period, the Company advanced $237,593 to a director, Kok Seng Yeap, Eddy.

XML

7. Stockholders' Equity

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Stockholders' Equity

Common stock

On July 10, 2017, 234,000 new shares issued. The total number of shares issued and outstanding increased from 3,242,815 shares to 3,476,815 shares.

On July 20, 2017, 74,703 new shares issued. The total number of shares issued and outstanding increased from 3,476,815 shares to 3,551,518 shares.

On August 1, 2017, 12,830 new shares issued. The total number of shares issued and outstanding increased from 3,551,518 shares to 3,564,348 shares.

On September 22, 2017, 10,579 new shares issued. The total number of shares issued and outstanding increased from 3,564,348 shares to 3,574,927 shares.

For the new issuance of shares, please refer to Item 2. UNREGISTERED SALES OF EQUITY AND USE OF PROCEEDS of PART II. OTHER INFORMATION.

Stock options

On December 5, 2012, the Company entered into a settlement agreement with Dragon Wings for the settlement of the claim by Dragon Wings. In consideration of IGS's agreement to make the payments in the form of common shares and share options listed in the settlement agreement. The Company would give the option to Dragon Wings to purchase 6,000,000 common shares; the option may be exercised by Dragon Wings in whole or in part, at any time within 5 years from the date of this settlement agreement with the exercise price at US$0.01 per share, with dilution protection and subject to share split adjustment.

	As at
	September 30, 2017		December 31, 2016
Loan settled by share option	$	149,015	$	149,015
Par value of the common shares		60,000		60,000
Fair value of share option	$	89,015	$	89,015

XML

8. Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

The Company has U.S. federal net operating loss carry forwards that if unused could expire in varying amounts in the years through 2020 to 2026. However, as a result of the acquisition, the amount of net operating loss carry forward available to be utilized in reduction of future taxable income was reduced pursuant to the change in control provisions of Section 382 of the Internal Revenue Code.

The Company’s subsidiary operating in Malaysia subject to the Malaysia Corporate Tax Laws at a tax rate of 24% on the assessable income for its tax year. Any unutilized losses can be carried forward indefinitely to be utilized against income from any business source.

A 100% valuation allowance has been established as a reserve against the deferred tax assets arising from the net operating losses and other net temporary differences since it cannot, at this time, be considered more likely than not that their benefit will be realized in the future.

XML

9. Commitments and contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	As of September 30, 2017, the Company does not have any significant commitments.

XML

10. Subsequent events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent events

On November 1, 2017, the Board of Directors of the Company approved the subscription of the Company’s shares with details as follows were tabled.

No.	Name of Applicant	Number of shares	Price (USD)	Date of Application
1	KIM JUNG HWAN	400	500.00	October 26, 2017
2	PARK ANSUK	1,344	1,680.00	October 26, 2017
3	WOO DONGHWAN	6,504	8,130.00	October 26, 2017

According to the issuance of total 8,248 shares of common stock, the total number of share outstanding increased from 3,574,927 shares to 3,583,175 shares.

XML

3. Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles accepted generally in the USA. These principles require management to use its best judgment in determining estimates and assumptions that: affect the reported amounts of assets and liabilities; disclosure of contingent assets and liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for such items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the relevant accounting rules, typically in the period when new information becomes available to management. Actual results in the future could differ from the estimates made in the prior and current periods.

Earnings Per Share

Earnings Per Share

Basic earnings per share ("EPS") is calculated using net earnings (the numerator) divided by the weighted-average number of shares outstanding (the denominator) during the reporting period. Diluted EPS includes the effect from potentially dilutive securities.

Fair Value Measurements and Disclosures

Fair Value Measurements and Disclosures

ASC 820 "Fair Value Measurements and Disclosures" codified SFAS No. 107, "Disclosures about Fair Value of Financial Instruments". ASC 820 applies to all entities, transactions, and instruments that require or permit fair value measurements, with specific exceptions and qualifications. The Company is required to disclose estimated fair values of financial instruments. Unless otherwise indicated, the fair values of all reported assets and liabilities, which represent financial instruments, none of which are held for trading purposes, approximate their respective carrying values of such amounts.

Cash and Cash Equivalent

Cash and Cash Equivalent

The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents.

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:

	Expected useful life
Leasehold improvement	10 years
Furniture, fixture and equipment	10 years
Computer and software	10 years

Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.

Depreciation expenses for the three and nine months ended September 30, 2017 and 2016 was $617 and $0, respectively.

Impairment of long-lived assets

Impairment of long-lived assets

In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as property, plant and equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the three and nine months ended September 30, 2017.

Revenue

Revenue

The Company recognizes its revenue in accordance with the ASC Topic 605, “Revenue Recognition”. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. The recognition of revenues involves certain management judgments. The amount and timing of our revenues could be materially different for any period if management made different judgments or utilized different estimates.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Income Taxes

Income Taxes

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

The Company operates in several countries. As a result, we are subject to numerous domestic and foreign tax jurisdictions and tax agreements and treaties among the various taxing authorities. Our operations in these jurisdictions are taxed on various bases: income before taxes, deemed profits and withholding taxes based on revenue. The calculation of our tax liabilities involves consideration of uncertainties in the application and interpretation of complex tax regulations in a multitude of jurisdictions across our global operations.

We regularly assess our position with regard to individual tax exposures and record liabilities for our uncertain tax positions and related interest and penalties. These accruals reflect management's view of the likely outcomes of current and future audits. The future resolution of these uncertain tax positions may be different from the amounts currently accrued and therefore could impact future tax period expense.

Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact upon the amount of income taxes that we provide during any given year.

Related parties

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Recent Pronouncements

Recent pronouncements

The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Foreign currencies translation

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company maintains its books and record in a local currency, Malaysian Ringgit (“MYR”), which is functional currency as being the primary currency of the economic environment in which the entity operates.

In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. The gains and losses are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the period ended September 30,
	2017	2016
Period-end MYR : US$1 exchange rate	4.2373	–
Period-average MYR : US$1 exchange rate	4.2373	–

XML

5. Business Combination (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Schedule of Business Combination

At August 23, 2017	US$
Total purchase price for the acquisition		60,000
Less: Recognized amounts of identifiable assets acquired and liabilities assumed
Property, plant and equipment		35,765
Inventories		26,987
Trade and other receivables		11,883
Cash and cash equivalents		22,015
Trade and other payables		(110,500	)
Total identifiable net assets		(13,850	)
Goodwill		73,850

XML

7. Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Settlement agreement data

	As at
	September 30, 2017		December 31, 2016
Loan settled by share option	$	149,015	$	149,015
Par value of the common shares		60,000		60,000
Fair value of share option	$	89,015	$	89,015

XML

3. Summary of Significant Accounting Policies (Details Narrative)	9 Months Ended
	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Depreciation expense	$ 617	$ 0
Malaysia, Ringgits
Translation exchange rates	4.2373	0.00
Period-average exchange rate	4.2373	0.00

XML

4. Going Concern (Details Narrative) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholder earnings (deficit)	$ 307,196	$ (102,110)

XML

5. Business Combination (Details) - USD ($)	8 Months Ended
	Aug. 23, 2017	Sep. 30, 2017	Dec. 31, 2016
Goodwill		$ 73,850	$ 0
IGS Mart SDN. BHD. [Member]
Total purchase price for the acquisition	$ 60,000
Property, plant and equipment	35,765
Inventories	26,987
Trade and other receivables	11,883
Cash and cash equivalents	22,015
Trade and other payables	(110,500)
Total identifiable net assets	(13,850)
Goodwill	$ 73,850

XML

6. Related Party Transactions (Details) - USD ($)	6 Months Ended	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Due to related parties		$ 199,133	$ 100,137
Due from related parties		412,717	0
Director and Secretarial Services [Member]
Stock issued for compensation, shares	42,582,858
Stock issued for compensation, value	$ 138,000
Accounting Services [Member]
Stock issued for compensation, shares	9,288,400
Stock issued for compensation, value	$ 23,221
Director [Member]
Due to related parties		102,554	17,400
Due from related parties		322,747
Related Company [Member]
Due to related parties		96,579
Due from related parties		89,970
Shareholder
Due to related parties			$ 82,737
KOK Seng Yeap [Member]
Advances to related party		$ 237,593

XML

7. Stockholders' Equity (Details-Settlement) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Equity [Abstract]
Loan settled by share option	$ 149,015	$ 149,015
Par value of common shares	60,000	60,000
Fair value of share option	$ 89,015	$ 89,015

XML

7. Stockholders' Equity (Details Narrative) - shares	6 Months Ended	7 Months Ended		9 Months Ended
	Jul. 10, 2017	Aug. 01, 2017	Jul. 20, 2017	Sep. 22, 2017	Sep. 30, 2017	Dec. 31, 2016
Shares outstanding					3,574,927	105,091,254
Common Stock [Member]
Shares issued	234,000	12,830	74,703	10,579

XML

8. Income Taxes (Details Narrative)	9 Months Ended
	Sep. 30, 2017
MALAYSIA
Malaysian tax rate	24.00%