AMOUNT DUE TO DIRECTOR

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

AMOUNT DUE TO DIRECTOR

NOTE 9 - AMOUNT DUE TO RELATED PARTIES

As of September 30, 2020, amount due to related parties consist of the following:

	As of September 30, 2020		As of December 31, 2019
Related parties payable		276,500		254,515
Related party loan		140,000		1,500,000
	$	416,500		1,754,515

The related party balance of $416,500 represented an outstanding loan of $140,000 from the related company owned by Company’s director for daily business operation in Singapore, and professional expenses paid on behalf by Director of $276,500 and which consist of $224,500 advance from Dai Zheng, $42,000 advance from Li Zhuo and $10,000 from Che Kean Tat. It is unsecured, interest-free with no fixed payment term and imputed interest is consider to be immaterial.

The Company have settled related party loan of $650,000 and $710,000 in January 21, 2020 and March 2, 2020 respectively due to cost cutting in business operation in Singapore as a result of change in business plan. As of September 30, 2020, there were $140,000 of related party loan that are due to the company owned by Mr. Dai, the Chairman of the Board.

As of December 31, 2019, amount due to related parties consist of the following:  

	As of December 31, 2019
Related parties payable		254,515
Related party loan		1,500,000
	$	1,754,515

  The related party balance of $1,754,515 represented an outstanding loan of $1,500,000 from the related company owned by Company’s director for the future business operation, and professional expenses paid on behalf by Director of $254,515 and which consist of $224,515 advance from Dai Zheng, $20,000 advance from Li Zhuo and $10,000 from Che Kean Tat. It is unsecured, interest-free with no fixed payment term, for loan purpose.