Related-party transactions

6 Months Ended

Dec. 31, 2014

Note 13 — Related-party transactions

a) Related parties:

Related Parties		Relationship with the Company
M-Power Development Ptd Ltd (MPD)		Asset holding management company
M-Power Investment Pte Ltd (MPI)		Holding company
Perry Holzgraf Esculier		Stockholder and Director

b) The Company had the following related party balances at December 31, 2014 and June 30, 2014:

	December 31,		June 30,
	2014		2014
	(Unaudited)		(Audited)

Due to MPD	$	30,988	$	-
Due to MPI		323,694		323,694
Due to Director		232,889
Total due to related parties and directors	$	587,571	$	323,694

The related party transactions were comprised primarily of the expenses paid by MPD and MPI on the Company’s behalf. The office was leased from MPD by the Company on an annual rent denoted in Singapore Dollars and is equivalent to US Dollar $ 71,426. The balance due to MPI is the result of the offsetting of a related party payable among the Company, MPI and MPD at the year end. No offsetting occurred during the six months period ended December 31, 2014.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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