AMOUNT DUE TO DIRECTOR

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

AMOUNT DUE TO DIRECTOR

NOTE 13 - AMOUNT DUE TO DIRECTOR

NOTE 13 - AMOUNT DUE TO DIRECTOR

As of September 30, 2021, amount due to related parties consist of the following:

	As of September 30, 2021		As of December 31, 2020
Related parties payable	$	276,500	$	276,500
Related party loan		140,000		140,000
Director fee payable		252,001		-
	$	668,501	$	416,500

The related party balance of $668,500 represented an outstanding loan of $140,000 from the related company owned by Company’s director-Dai Zheng 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.

As of September 30, 2021, there were $140,000 of related party loan that are due to the company owned by Mr. Dai, the Chairman of the Board.

NOTE 9 - AMOUNT DUE TO RELATED PARTIES

As of December 31, 2020, amount due to related parties consist of the following:  

	As of December 31, 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-Dai Zheng 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 December 31, 2020, there were $140,000 of related party loan that are due to the company owned by Mr. Dai, the Chairman of the Board.