Related Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS

Due to related parties

From time to time, during 2021 and 2020, 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 period ended September 30, 2021, the Company repaid to Chan Tin Chi Family Company Limited for working capital totaled $605,379. During the period ended September 30, 2020, the Company repaid to Chan Tin Chi Family Company Limited for working capital totaled $233,269. As of September 30, 2021 and December 31, 2020, amounts due to Chan Tin Chi Family Company Limited amounted to $2,422,948 and $1,817,569, respectively.

At September 30, 2021 and December 31, 2020, amounts due to related companies amounted to $1,060,036 and $650,806, respectively. 

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