Note 2 - SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation (Policies)

3 Months Ended

Mar. 31, 2023

Policies

Foreign Currency Translation

Foreign Currency Translation

The accompanying consolidated financial statements are presented in United States dollar (“USD”), which is the reporting currency of the Company. The functional currency of QSC, QWT, QCV, QGE, QBT, and QR are Malaysian Ringgit (“MYR”). The functional currency of QFL and QTBS are Hong Kong dollar ("HKD"). The functional currency of QMIS USA and QIB is USD.

The Company maintains its books and records in its functional currency. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company is the United States Dollars (“US$”), and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statements,” assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from the translation of financial statements are recorded as a separate component of accumulated other comprehensive gain (loss) within the statements of changes in shareholders’ deficit.

The exchange rates used for foreign currency translation were as follows:

USD$1 = HKD

	Period Covered	Balance Sheet Date Rates	Average Rates
Three months ended March 31, 2023		7.8499	7.8391
Three months ended March 31, 2022		7.8325	7.8055

USD$1 = MYR
	Period Covered	Balance Sheet Date Rates	Average Rates
Three months ended March 31, 2023		4.4130	4.3872
Three months ended March 31, 2022		4.2019	4.1918