PROPERTY PLANT AND EQUIPMENT

12 Months Ended

Jun. 30, 2025

PROPERTY PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

A summary of property, plant and equipment at June 30, 2025 and 2024 is as follows:

	As of June 30,
	2025			2024
Land and building	$	-		$	1,258,360
Plant and machinery		1,843,774			1,875,761
Office equipment		6,161			6,168
Computers		14,233			13,908
Motor vehicles		4,240			140,989
Furniture and fittings		4,421			16,359
Renovation		4,431			4,431
		1,877,260			3,315,976
Less: accumulated depreciation		(480,820	)		(382,141	)
Foreign exchange adjustment		178,544			(17,829	)
	$	1,574,984		$	2,916,006

Depreciation expense for the years ended June 30, 2025 and 2024 totaled $248,940 and $417,517, respectively.

Impairment loss on property, plant and equipment for the years ended June 30, 2025 and 2024, were $137,632 and $134,042, respectively, which relates to assets intended to be disposed and accordingly transferred to assets held for disposal at its net carrying value of $350,000 and $606,043 respectively.

Plant and machinery written off for the years ended June 30, 2025 and 2024 amounted to $0 and $3,979 respectively.

Land and building with net carrying amount of $0 at June 30, 2025 ($701,817 at June 30, 2024) was pledged to a financial institution for facilities granted.

Plant and machinery and motor vehicles with carrying values of $0 at June 30, 2025 ($7,688 and $98,362 respectively at June 30, 2024) are acquired under financing arrangements.

On December 10, 2024, CEO Jack Wong entered into a Sale and Purchase Agreement (“Agreement”) with VRI to purchase the Property at the current market value of $857,500 with payment in equal installments over 26 pay cycles. Pursuant to the Agreement, VRI shall immediately transfer ownership of the Property to CEO Jack Wong by Warranty Deed, free of encumbrances except as specified in the Agreement. The transfer of title was completed on December 19, 2024.