Related Party Transactions

3 Months Ended

Mar. 31, 2020

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS

Due to related parties

From time to time, during 2019 and 2018, the Company receive advances from Chan Tin Chi Family Company Limited (formerly known as YSK 1860 Co., Limited), who is the major shareholder of the Company for working capital purposes. These advances are non-interest bearing and are payable on demand. During the three months ended March 31, 2020 and 2019, the Company received advances from Chan Tin Chi Family Company Limited for working capital totaled $310,493 and $820,061, respectively, and repaid to Chan Tin Chi Family Company Limited a total of $0 and $31,604, respectively. At March 31, 2020 and December 31, 2019, amounts due to Chan Tin Chi Family Company Limited amounted to $2,356,455 and $2,045,962, respectively.

At March 31, 2020 and December 31, 2019, amounts due to related companies amounted to $377,389 and $319,542, respectively.

The amounts are unsecured, interest-free and have no fixed terms of repayment.