RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

9. RELATED PARTY TRANSACTIONS

Related party balances consisted of the following:

	As of December 31,
	2024			2023
Due to Porta Capital Limited (“Porta Capital”)	$	1,068,099		$	797,932
Due to Bru Haas (B) Sdn Bhd (“Bru Haas (B)”)		1,695,698			1,083,511
Due to Bru Haas Sdn Bhd (“Bru Haas”)		80,381			19,198
Due from Veo Edge Technology Limited		(6,055	)		–
Due (from) to Clicque Technology Sdn Bhd (“Clicque”)		(162,361	)		228,637
Due to directors		221,156			85,343
Due to Leet Entertainment Group Limited (“Leet HK”)		414,814			414,814
	$	3,311,732		$	2,629,435

Mr. Song is the director and major shareholder of the Company, and he is also the major shareholder of Porta Capital, Bru Haas (B), Bru Haas, Tila Network, and Porta Network. Amount due to these related companies are those trade and nontrade payables arising from transactions between the Company and the related companies, such as advances made by the related companies on behalf of the Company, and advances made by the Company on behalf of the related companies. Those advances are unsecured, non-interest bearing and have no fixed terms of repayment.The advances to Mr. Song are mainly for working capital purpose.

In the ordinary course of business, during the years ended December 31, 2024 and 2023, the Company involved with certain transactions, either at cost or current market prices and on the normal commercial terms among related parties. The following table provides the transactions with these parties for the years as presented (for the portion of such period that they were considered related):

		Years ended December 31,
Nature of transactions with related parties		2024		2023
Research and development consulting fee to related parties:
- Porta Capital	(a)	$	35,985	$	35,929
Consultancy fee to related parties
- Clicque	(b)	$	–	$	144,816
Rent expense of Matchroom platform server to related parties:
- Porta Capital	(c)	$	113,951	$	113,774
- Bru Haas (B)	(d)		239,530		296,061
- Clicque	(d)		241		115
Total		$	353,722	$	409,854
Network Bandwidth expense to Bru Haas (B)	(e)	$	215,998	$	215,575
Director fee
- Ganesha		$	13,123	$	13,165
- Kamal Hamidon			–		17,115
- Ding Jung Long			–		23,339
Total		$	13,123	$	53,619

Both platform server rent expense and network bandwidth expense are recorded in the cost of revenue.

(a) The Company entered a consultancy service agreement with Porta Capital for a fixed period of 36 months commenced from January 1, 2024 to December 2026. The consultancy service fee is $3,000 per month.

(b) The Company entered two separate consultancy service agreements with Clicque for a fixed period of 36 months each commenced from June 1, 2021 and December 1, 2021. The consultancy service fees are RM 40,000 (equivalent to approximately $9,700) per month and RM 15,000 (equivalent to approximately $3,600) per month, respectively. 

(c) The Company entered a platform server rental agreement with Porta Capital for a fixed period of 60 months commenced from January 1, 2021 to December 2025. The rent is $9,500 per month.

(d) The Company entered a platform server rental agreement with Bru Haas (B) for a fixed period of 60 months commenced from July 1, 2021 to December 2026. The rent is $20,000 per month.

(e) The Company entered a network bandwidth rental agreement with Bru Haas (B) for a fixed period of 36 months commenced from January 1, 2023 to December 2025 . The rent is $18,000 per month.

During the year ended December 31, 2024 and 2023, the Company utilized space on a rent-free basis in the office located at Unit 805, 8th Floor, Menara Mutiara Majestic, Jalan Othman, Petaling Jaya 46000, Selangor, Malaysia which is owned by Mr. Song. The fair market value of the rent is RM1,500 per month.