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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

 

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all subsequent events through the filing date of this Form 10-K with the SEC, to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of December 31, 2021, and events which occurred subsequently but were not recognized in the financial statements. During the year, there was no subsequent event that required recognition or disclosure.

 

On January 03, 2022, SEATech Ventures (HK) Limited has acquired 1 share, representing 100% equity interest of SEATech Ventures Sdn. Bhd., a Malaysia company from the Chief Executive Officer, President, Secretary, Treasurer, Director, Mr Chin Chee Seong, with consideration of MYR 1. The acquisition of SEATech Ventures Sdn. Bhd. is part of the Company’s future business development efforts. As of January 03, 2022, SEATech Ventures Sdn. Bhd. was a dormant company without any business operation and liability.

 

On February 22, 2022, SEATech Bigorange CVC Sdn. Bhd. has changed its company name to SEATech CVC Sdn. Bhd..

 

On February 25, 2022, SEATech Ventures (HK) Limited has acquired 8,000 shares, representing 40% equity interest in SEATech CVC Sdn. Bhd. from the other party with a consideration of MYR 1. After such acquisition, SEATech CVC Sdn. Bhd. became a wholly owned subsidiary of SEATech Ventures (HK) Limited.