12. SEGMENT INFORMATION

12 Months Ended

Oct. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

12. SEGMENT INFORMATION

(a) Business segment reporting

During the years ended October 31, 2019 and 2018, the Company operated two reportable business segments, as defined by ASC Topic 280:

· Plantation business – oil palm and durian plantation in Malaysia

· Real estate business – acquisition and development of commercial and residential real estate properties in Malaysia

The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 3). The Company had no inter-segment sales for the years presented. Summarized financial information concerning the Company’s reportable segments is shown as below:

	Year ended October 31, 2019
	Plantation Business			Real Estate Business			Corporate			Total
Revenues, net	$	286,084		$	1,657,811		$	–		$	1,943,895
Less: inter-company revenues		–			(25,756	)		–			(25,756	)
Revenues from external customers		286,084			1,632,055			–			1,918,139
Cost of revenues		(82,983	)		(566,513	)		–			(649,496	)
Gross profit		203,101			1,065,542			–			1,268,643
Depreciation		12,434			463,140			6,062			481,636
Net income (loss)		30,933			47,123			(345,377	)		(267,321	)
Total assets		6,308,836			37,943,770			220,675			44,473,281
Expenditure for long-lived assets	$	33,515		$	–		$	–		$	33,515

	Year ended October 31, 2018
	Plantation Business			Real Estate Business			Corporate			Total
Revenues, net	$	164,947		$	1,391,294		$	–		$	1,556,241
Less: inter-company revenues		–			(26,655	)		–			(26,655	)
Revenues from external customers		164,947			1,364,639			–			1,529,586
Cost of revenues		(79,679	)		(615,361	)		–			(695,040	)
Gross profit		85,268			749,278			–			834,546
Depreciation		6,757			294,980			6,274			308,011
Net income (loss)		(5,272	)		(157,970	)		(390,720	)		(553,962	)
Total assets		6,151,655			38,572,563			248,526			44,972,744
Expenditure for long-lived assets	$	1,566		$	26,359		$	–		$	27,925

All long-lived assets are located in Malaysia.