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RELATED PARTY BALANCES AND TRANSACTIONS (Tables)
12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
SCHEDULE OF RELATED PARTIES

 

        As of December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  Prepayment of IT expenses  $2,922   $1,273 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Deposits for products purchases   8,171    9,261 
Total        $11,093   $10,534 

 

Accounts payable – related parties

 

        As of December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for the provision of complementary health therapies  $30,439   $25,387 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of beauty products   54    224 
Mr. Chew Yi Zheng  Mr. Chew Yi Zheng is the member of the immediate family of Mr. Yap Foo Ching (Steve Yap), the director of DSY Wellness International Sdn Bhd  Render therapy and health consultation to customer   4,355    - 
Total        $34,848   $25,611 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

14. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party balances

 

Other payable - related parties

 

        As of December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchase of products for general use  $570   $2,149 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchase of products for general use   535    2,147 
Mr. Yap Foo Ching (Steve Yap)  Mr. Yap Foo Ching, the director of the DSY Wellness International Sdn Bhd  Payment on behalf by Mr. Yap   6,534    - 
Mr. How Kok Choong  Mr. How Kok Choong, the CEO and director of the Company  Commission expense   207    584 
Total        $7,846   $4,880 

 

Related party transactions

 

Purchases

 

        For the years ended December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for the provision of complementary health therapies  $272,993   $198,376 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of beauty products   18,516    3,975 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Purchases of products for the provision of complementary health therapies   -    124 
Mr. Chew Yi Zheng  Mr. Chew Yi Zheng is the member of the immediate family of Mr. Yap Foo Ching (Steve Yap), the director of DSY Wellness International Sdn Bhd  Services acquired for therapy and health consultation to customer   4,355    - 
Total        $295,864   $202,475 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

14. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party transactions

 

Other income

 

        For the years ended December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
                 
Ando Design Sdn Bhd (“Ando”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Ando.  Rental income  $2,630   $- 
Redboy Pictures Sdn Bhd (“Redboy”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy.  Rental income  $5,260   $- 
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  Rental income  $460   $- 
Total        $8,350   $- 

 

Other purchases

 

        For the years ended December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)  The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY International Wellness Sdn Bhd  Purchases of products for the provision of complementary health therapies  $6,213   $5,431 
SY Welltech Sdn Bhd (“Welltech”) (formerly known as DSY Beauty Sdn Bhd)  The directors and shareholders of Welltech are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd  Purchases of beauty products   7,282    6,888 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Purchases of products for the provision of complementary health therapies   368    4 
Total        $13,863   $12,323 

 

 

AGAPE ATP CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

14. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)

 

Related party transactions

 

Commission expense

 

        For the years ended December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
Mr. How Kok Choong  Mr. How Kok Choong, the CEO and director of the Company  Commission expense  $5,947   $16,590 
Total        $5,947   $16,590 

 

Other expenses

 

        For the years ended December 31, 
Name of Related Party  Relationship  Nature  2023   2022 
               
TH3 Holdings Sdn Bhd (“TH3”)  Mr. How Kok Choong, the CEO and director of the Company is also a director of TH3  IT support services fee  $54,956   $56,450 
Redboy Picture Sdn Bhd (“Redboy”)  Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy  Sponsorship fee   -    22,686 
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)  Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd is also a director of DSYWLC.  Office rental expenses   31,563    21,779 
Total        $86,519   $100,915