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AMOUNTS DUE TO DIRECTORS
12 Months Ended
Dec. 31, 2017
Director [Member]  
Related Party Transactions Disclosure [Text Block]
NOTE 14 - AMOUNTS DUE TO DIRECTORS
 
 
 
December 31,
 
December 31,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Lin Chi-Jung
 
$
5,154,329
 
$
6,446,184
 
Lin Hsin-Hung
 
 
108,842
 
 
87,105
 
 
 
$
5,263,171
 
$
6,533,288
 
 
(a)
The balance due to Lin Chi-Jung, the Company’s CEO, President and Chairman, consisted of a balance of unpaid salaries and reimbursements totaling $105,445 (2016: $118,160) and advances together with unpaid interest totaling $5,154,329 (2016: $6,446,184).
 
The balance of unpaid salaries and reimbursements was unsecured, interest-free and has no fixed term of repayment.
 
The advances from Lin Chi-Jung bear interest at rates ranging from 18% to 30% per annum. During the year ended December 31, 2017, the interest expense related to these advances amounted to $NIL (2015: $864,829).
 
(b)
The balances due to Lin Hsin-Hung was unsecured, interest-free and have no fixed term of repayment.