SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign currencies translation Policy (Policies)

6 Months Ended

Mar. 31, 2020

Policies

Foreign currencies translation Policy

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. Hong Kong Dollars (“HK$”), which is the respective functional currencies for the Company as the deposit is currently kept in HSBC Hong Kong. In addition, the Company’s subsidiaries maintain their books and records in their respective local currency, which consists of the Hong Kong Dollars (“HK$”) and Chinese Yuan (“CNY”), which is also the respective functional currency of the subsidiaries.

Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:

	As of and for the six months ended March 31,
	2020	2019
	(unaudited)	(unaudited)
Period-end CNY : US$1 exchange rate	7.08	6.71
Period-average CNY : US$1 exchange rate	7.01	6.87
Period-end / average HK$ : US$1 exchange rate	7.80	7.80