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ORGANIZATION AND BUSINESS BACKGROUND
3 Months Ended
Sep. 30, 2023
ORGANIZATION AND BUSINESS BACKGROUND  
ORGANIZATION AND BUSINESS BACKGROUND

NOTE 1 - ORGANIZATION AND BUSINESS BACKGROUND

 

Verde Resources, Inc. (“We” or “Company” or “VRDR”) was incorporated on April 22, 2010, in the State of Nevada, U.S.A..

 

We currently operate in the distribution of THC-free cannabinoid (CBD) products, production and distribution of renewable commodities and real property holding. However, the Company has been undergoing a restructuring exercise to shift its focus towards renewable energy and sustainability development with the world faced with challenges of climate change and environmental dehydration.

 

As of September 30, 2023, the Company has the following subsidiaries:-

 

Company name

 

Place of incorporation

 

Principal activities and place of operation

 

Effective interest held

 

 

 

 

 

 

 

Verde Resources Asia Pacific Limited (“VRAP”)

 

British Virgin Islands

 

Investment holding

 

100%

 

 

 

 

 

 

 

Verde Resources (Malaysia) Sdn Bhd (“Verde Malaysia”)

 

Malaysia

 

Provision of consultation service and distribution of renewable agricultural commodities

 

100%

 

 

 

 

 

 

 

Verde Renewables, Inc. (“VRI”)

 

State of Missouri, U.S.A.

 

Management of a processing and packaging facility

 

100%

 

 

 

 

 

 

 

Verde Life Inc. (“VLI”)

 

State of Oregon, U.S.A.

 

Distribution of THC-free cannabinoid (CBD) products

 

100%

 

 

 

 

 

 

 

The Wision Project Sdn Bhd (“Wision”)

 

Malaysia

 

Digital innovation, marketing & consulting service, PR, branding, influencer marketing, event management and media relations services

 

100%

 

 

 

 

 

 

 

Verde Estates LLC (“VEL”)

 

State of Missouri, U.S.A.

 

Holding real property

 

100%

 

 

 

 

 

 

 

Bio Resources Limited (“BRL”)

 

Labuan, Malaysia

 

Provision of proprietary pyrolysis technology and investment holding

 

100%

 

The Company and its subsidiaries are hereinafter referred to as (the “Company”).