CONCENTRATION OF RISKS

3 Months Ended

Mar. 31, 2021

CONCENTRATION OF RISKS

NOTE 15 - CONCENTRATION OF RISKS

a) Major customers

During the period, the Company did not have any material recognizable major customers accounted for 10% or more of the Company’s revenue for the financial year ended Dec 31, 2020 and quarterly financial period ended March 31, 2021 and 2020.

b) Major suppliers

There were 3 major suppliers who accounted for 10% or more of the Company’s cost of revenue and their balance at the end of 1^st quarter ended March 31, 2021 are presented as below:

Major Suppliers	Purchases		Percentage of cost of revenue			Payable balance
(1st quarter ended March 31, 2021)
Singapore Highpolymer Chemical Products	$	776,469		27.09	%	$	1,324,528
Changzhou Pro-Tech Trade Co. Ltd	$	451,074		15.74	%	$	382,658
Luxchem Trading Sdn Bhd	$	404,056		14.09	%	$	404,056
	$	1,631,599		56.92	%	$	2,111,242

There were 3 major suppliers who accounted for 10% or more of the Company’s cost of revenue and their balance at the end of 1st quarter ended December 31, 2020 are presented as below:

Major Suppliers	Purchases		Percentage of cost of revenue			Payable balance
(Financial year ended Dec 31, 2020)
Singapore Highpolymer Chemical Products	$	2,090,090		21.62	%	$	1,031,417
Luxchem Trading Sdn Bhd	$	1,350,069		13.96	%	$	572,938
Changzhou Pro-Tech Trade Co. Ltd	$	1,319,232		13.64	%	$	335,215
	$	4,759,391		49.22	%	$	1,939,570