Umatrin Holding (UMHL) 10-Q 17 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 14, 2018
Document And Entity Information
Entity Registrant Name	Umatrin Holding Ltd
Entity Central Index Key	1,317,839
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		182,444,266
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 42,769	$ 73,093
Inventory	26,506	21,231
Prepaid tax	108,830	78,656
Deferred tax assets	10,633	10,575
Due from related parties	352,840	309,559
Total Current Assets	541,578	493,114
Land, property and equipment, net	1,151,903	1,182,078
Deposits	20,673	22,408
Total Assets	1,714,154	1,697,600
Current Liabilities
Term loan payable-current portion	21,313	20,709
Accounts payable and accrued expenses	128,317	157,459
Other payables	219,198	230,848
Due to related parties	1,054,153	841,384
Total Current Liabilities	1,420,835	1,250,400
Term loan payable-long term	499,295	506,571
Total Liabilities	1,920,130	1,756,971
Equity
Preferred stock: 10,000,000 authorized; $0.00001 par value 0 and 0 shares issued and outstanding
Common stock: 500,000,000 authorized; $0.00001 par value 182,444,266 shares issued and outstanding	1,825	1,825
Additional paid in capital	3,136,561	3,136,561
Accumulated deficits	(3,161,674)	(3,038,346)
Accumulated other comprehensive loss	(135,370)	(137,666)
Total Umatrin Holding Limited Stockholders' Equity	(156,512)	(37,626)
Non-controlling interest	(49,464)	(21,745)
Total Equity	(205,976)	(59,371)
Total Liabilities and Equity	$ 1,714,154	$ 1,697,600

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Equity
Preferred stock, Par value	$ 0.00001	$ 0.00001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	0	0
Preferred stock, Outstanding	0	0
Common stock, Par value	$ 0.00001	$ 0.00001
Common stock, Authorized	500,000,000	500,000,000
Common stock, Issued	182,444,266	182,444,266
Common stock, Outstanding	182,444,266	182,444,266

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Consolidated Statements Of Operations And Comprehensive Loss
Sales	$ 71,955	$ 367,695	$ 145,213	$ 510,632
Cost of sales	8,988	86,388	18,365	104,095
Gross profit	62,967	281,307	126,848	406,537
Operating expenses
Selling, general & administrative expenses	130,742	310,218	265,767	586,207
Total operating expenses	130,742	310,218	265,767	586,207
Loss from operations	(67,775)	(28,911)	(138,919)	(179,670)
Other income (expenses)
Interest expense	(6,333)	(5,816)	(12,703)	(11,486)
Total other income (expenses)	(6,333)	(5,816)	(12,703)	(11,486)
Net loss before income taxes	(74,108)	(34,727)	(151,622)	(191,156)
Provision for income taxes
Net loss	(74,108)	(34,727)	(151,622)	(191,156)
Less: Net loss attributable to non-controlling interest	(12,891)	(2,493)	(28,293)	(28,016)
Net loss attributable to Umatrin Holding Limited	(61,216)	(32,234)	(123,328)	(163,140)
Other comprehensive loss, net of tax
Foreign currency translation adjustment	(9,858)	11,414	(2,869)	17,448
Comprehensive loss	(83,966)	(23,313)	(154,491)	(173,708)
Comprehensive loss attributable to the non-controlling interest	(42,009)	(209)	(56,013)	(24,526)
Comprehensive loss attributable to Umatrin Holding Limited	$ (41,957)	$ (23,104)	$ (98,478)	$ (149,182)
Loss per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding - basic and diluted	182,444,266	175,100,369	182,444,266	175,100,369

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net loss including noncontrolling interest	$ (151,622)	$ (191,156)
Adjustment to reconcile net loss from operations:
Depreciation expense	37,621	33,183
Changes in Operating Assets and Liabilities
Inventory	(5,287)	(20,213)
Prepaid tax	(30,487)	(42,161)
Other receivables and deposits	1,905	7,919
Accounts payable and accrued expenses	(8,707)	124,123
Other payables	(41,101)	(31,432)
Net cash used in operating activities	(197,677)	(119,737)
Cash flows from investing activities
Purchase of property and equipment		(10,443)
Advances made to related parties	(42,617)	8,444
Net cash used in investing activities	(42,617)	(1,999)
Cash flows from financing activities
Proceeds from common stock issued and to be issued		263,144
Proceeds from/(Repayment to) related party, net	211,179	(198,251)
Repayments to term loan, net	(9,822)	(8,457)
Net cash provided by financing activities	201,357	56,436
Effect of exchange rate changes	8,613	(1,526)
Net decrease in cash and cash equivalents	(30,324)	(66,826)
Cash and cash equivalents at beginning of period	73,093	133,269
Cash and cash equivalents at end of period	42,769	66,443
Supplemental disclosures of cash flow information
Interest paid	12,703	11,486
Income taxes paid	$ 30,487	$ 42,161

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 1. ORGANIZATION	Umatrin Holding Limited (formerly known as Golden Opportunities Corporation) (“UMHL”) was incorporated in the state of Delaware on February 2, 2005. UMHL was originally incorporated in order to locate and negotiate with a targeted business entity for the combination of that target company with the Company. On January 6, 2016, UMHL acquired 80% of the equity interests of U Matrin Worldwide SDN. BHD. ("Umatrin") in exchange for the issuance of a total of 100,000,000 shares of its common stock to the two holders of Umatrin, Dato' Sri Eu Hin Chai and Dato' Liew Kok Hong. Immediately following the Share Exchange, the business of Umatrin became the business of UMHL. U Matrin Worldwide SDN BHD, formerly known as OLC Worldwide SDN. BHD., was incorporated in Malaysia on July 22, 1993. The principal activities of Umatrin is direct selling and trading on beauty and personal care products, and investment holding. UMHL entered into a share exchange agreement with Umatrin whereas the acquisition was accounted under US GAAP as a business combination under common control with UMHL being the acquirer as both entities were owned by the same controlling shareholders. Prior to the business combination, Dato' Sri Eu Hin Chai, through Umatrin Group Ltd., held 76% of the outstanding shares of common stock of the Company. Dato' Sri Eu Hin Chai and Dato' Liew Kok Hong beneficially owned 61.25% and 38.75% of Umatrin immediately prior to the closing. Accordingly, historical cost will be the basis for transfer of assets and liabilities in the business combination in accordance with ASC 805-50-30-5. Umatrin Holding Limited and its subsidiary U Matrin Worldwide SDN. BHD. shall be referred as the “Company”. Umatrin Holding Ltd. (USA) 80% U Matrin Worldwide SDN BHD (Malaysia)

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 2. SIGNIFICANT ACCOUNTING POLICIES	Basis of presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United States ("US GAAP"). The accompanying consolidated financial statements include the accounts of the Company and its subsidiary. Significant inter-company transactions have been eliminated in consolidation. In accordance with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented for prior periods have been be retroactively adjusted to furnish comparative information. The accompanying consolidated financial statements are presented retrospectively as though the share exchange agreement between the UMHL and Umatrin occurred at the beginning of the first period presented. Interim Financial Statements The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) applicable to interim financial information and the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosure required by accounting principles generally accepted in the United States of America for complete financial statements. Interim results are not necessarily indicative of results for a full year. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position and the results of operations and cash flows for the interim periods have been included. These interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2017, as not all disclosures required by generally accepted accounting principles for annual financial statements are presented. The interim financial statements follow the same accounting policies and methods of computations as the audited financial statements for the year ended December 31, 2017. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Reclassification Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net income or losses. Functional and presentation currency The functional currency of Umatrin is the currency of the primary economic environment in which the Company operates which is Malaysia Ringgit (“MYR”). Transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at the end of the reporting periods. Exchange differences arising on the settlement of monetary items and on translation of monetary items at period-end are included in income statement of the period. For the purpose of presenting these financial statements, the Company’s assets and liabilities are expressed in US$ at the exchange rate on the balance sheet date, stockholder’s equity accounts are translated at historical rates, and income and expense items are translated at the weighted average exchange rate during the period. The resulting translation adjustments are reported under accumulated other comprehensive income in the stockholder’s equity section of the balance sheets. Exchange rate used for the translation as follows: Period End Average US$ to MYR Rate Rate June 30, 2018 4.0350 3.9361 December 31, 2017 4.0573 4.2982 June 30, 2017 4.2925 4.3879 Fair value of financial instruments The Company’s balance sheet includes financial instruments, including cash, term loan, accounts payable, accrued expenses, amounts due to related party and convertible notes payable to a related party. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2018. The respective carrying value of certain amounts on the balance sheet financial instruments approximated their fair values due to the short-term nature of these instruments. Related parties The Company adopted ASC 850, Related Party Disclosures Risks and Uncertainties The Company’s operations are subject to significant risks and uncertainties including financial, operational and regulatory risks, including the potential risk of business failure. Commitments and contingencies The Company adopted ASC 450-20, Loss Contingencies Cash and cash equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash and cash equivalents for the period ended June 30, 2018 and December 31, 2017 were $42,769 and $73,093 respectively. Trade Receivables Trade receivables are carried at anticipated realizable value. Bad debts are written off in the period in which they are identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet date. Bad debt expenses were $nil and $nil for the six months ended June 30, 2018 and 2017, respectively. At June 30, 2018 and December 31, 2017, the Company did not have any outstanding trade receivables. Inventories Inventories, which are primarily comprised of finished goods for sale, are stated at the lower of cost or net realizable value, using the first-in first-out (FIFO) method. The Company evaluates the need for reserves associated with obsolete, slow-moving and non-salable inventory by reviewing net realizable values on a periodic basis. Only defects products could be return to our suppliers. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is calculated under the straight-line method to write off the cost of the assets over their estimated useful lives. Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 40 years Land 95 years An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from de-recognition of asset is recognized in profit or loss. Expenditures for repairs and maintenance, which do not improve or extend the expected useful lives of the assets, are expensed as incurred while major replacements and improvements are capitalized. Impairment of Long-lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded no impairment charge for the six months ended June 30, 2018 and 2017. Revenue Recognition The Company adopted ASU 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The adoption of Topic 606 has no impact on revenue amounts recorded on the Company’s interim financial statements. The Company generally recognizes product sales revenue when the performance obligation have been satisfied pursuant to Malaysia law, including such factors as contract existed with the customer, delivery and acceptance of products by customer has occurred, the sales price is fixed or determinable and allocated to the products sold, sales and value-added tax laws have been complied with, and collectability is reasonably assured. The Company estimates potential returns and records such estimates against its gross revenue to arrive at its reported net sales revenue. Commission The Company expenses commission costs as incurred and includes it in selling expenses. The Company expenses commission costs as incurred and includes it in selling expenses. The Company grants commission to dealers and promoters to promote and sell the products. Amount of commission is based upon agreed value between the Company and the dealers and promoters as there is no fix basis for such amount. Advertising The Company expenses advertising costs as incurred and includes it in selling expenses. The Company recorded $nil and $3,418 for advertising and promotions expenses during the six months ended June 30, 2018 and 2017, respectively. Income taxes and valuation allowance The Company follows ASC 740, Income Taxes A tax benefit from an uncertain tax position may be recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that the relevant taxing authority that has full knowledge of all relevant information will examine each uncertain tax position. Although the Company believes the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals. Comprehensive Income (Loss) The Company follows the provisions of the Financial Accounting Standards Board (the “FASB”) ASC 220 Reporting Comprehensive Income Segment Information The Company adopted ASC-280, Disclosures about Segments of an Enterprise and Related Information Recent Accounting Pronouncements In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which revises the accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The new guidance requires the fair value measurement of investments in equity securities and other ownership interests in an entity, including investments in partnerships, unincorporated joint ventures and limited liability companies (collectively, equity securities) that do not result in consolidation and are not accounted for under the equity method. Entities will need to measure these investments and recognize changes in fair value in net income. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities they classify under current guidance as available for sale in other comprehensive income (OCI). They also will no longer be able to use the cost method of accounting for equity securities that do not have readily determinable fair values. Instead, for these types of equity investments that do not otherwise qualify for the net asset value practical expedient, entities will be permitted to elect a practicability exception and measure the investment at cost less impairment plus or minus observable price changes (in orderly transactions). The ASU also establishes an incremental recognition and disclosure requirement related to the presentation of fair value changes of financial liabilities for which the fair value option (FVO) has been elected. Under this guidance, an entity would be required to separately present in OCI the portion of the total fair value change attributable to instrument-specific credit risk as opposed to reflecting the entire amount in earnings. For derivative liabilities for which the FVO has been elected, however, any changes in fair value attributable to instrument-specific credit risk would continue to be presented in net income, which is consistent with current guidance. The standard is effective beginning January 1, 2018 via a cumulative-effect adjustment to beginning retained earnings, except for guidance relative to equity securities without readily determinable fair values which is applied prospectively. The adoption of this ASU’s did not have a material impact on the consolidated results of operations and financial condition. In February 2016, the FASB issued ASU No. 2016-02, Leases, replacing existing lease accounting guidance. The new standard introduces a lessee model that would require entities to recognize assets and liabilities for most leases, but recognize expenses on their income statements in a manner similar to current accounting. The ASU does not make fundamental changes to existing lessor accounting. However, it modifies what qualifies as a sales-type and direct financing lease and related accounting and aligns a number of the underlying principles with those of the new revenue standard, ASU No. 2014-09, such as evaluating how collectability should be considered and determining when profit can be recognized. The guidance eliminates existing real estate-specific provisions and requires expanded qualitative and quantitative disclosures. The standard requires modified retrospective transition by which it is applied at the beginning of the earliest comparative period presented in the year of adoption. The ASU is effective January 1, 2019. The Company is currently assessing this ASU’s impact on the consolidated results of operations and financial condition. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations by amending certain existing illustrative examples and adding additional illustrative examples to assist in the application of the guidance. The effective date and transition of these amendments is the same as the effective date and transition of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Public entities should apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein. The adoption of this ASU the impact of the adoption on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, which is intended to reduce diversity in practice in how certain cash receipts and payments are presented and classified in the statement of cash flows. The standard provides guidance in a number of situations including, among others, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and distributions received from equity method investees. The ASU also provides guidance for classifying cash receipts and payments that have aspects of more than one class of cash flows. The ASU is effective January 1, 2018, with early adoption permitted. The standard requires application using a retrospective transition method. The adoption of this ASU did not have a material impact on the consolidated results of operations and financial condition. In October 2016, the FASB issued ASU No. deferred from past intercompany transactions involving non-inventory assets to opening retained earnings. In addition, an entity would record deferred tax assets with an offset to opening retained earnings for amounts that entity had previously not recognized under existing guidance 2016-16, Intra-Entity Transfers of Assets Other Than Inventory, which modifies existing guidance and is intended to reduce diversity in practice with respect to the accounting for the income tax consequences of intra-entity transfers of assets. The ASU indicates that the current exception to income tax accounting that requires companies to defer the income tax effects of certain intercompany transactions would apply only to intercompany inventory transactions. That is, the exception would no longer apply to intercompany sales and transfers of other assets (e.g., intangible assets). Under the existing exception, income tax expense associated with intra-entity profits in an intercompany sale or transfer of assets is eliminated from earnings. Instead, that cost is deferred and recorded on the balance sheet (e.g., as a prepaid asset) until the assets leave the consolidated group. Similarly, the entity is prohibited from recognizing deferred tax assets for the increases in tax bases due to the intercompany sale or transfer. The ASU is effective January 1, 2018, with early adoption permitted as of January 1, 2017. The standard requires modified retrospective transition with a cumulative catch-up adjustment to opening retained earnings in the period of adoption. Upon adoption, a company would write off any income tax effects that had been but would recognize under the new guidance. The adoption of this ASU did not have a material impact on the consolidated results of operations and financial condition. In October 2016, the FASB issued ASU No. 2016-17, Interests Held through Related Parties That Are under Common Control, which modifies existing guidance with respect to how a decision maker that holds an indirect interest in a variable interest entity (VIE) through a common control party determines whether it is the primary beneficiary of the VIE as part of the analysis of whether the VIE would need to be consolidated. Under the ASU, a decision maker would need to consider only its proportionate indirect interest in the VIE held through a common control party. Previous guidance had required the decision maker to treat the common control party’s interest in the VIE as if the decision maker held the interest itself. As a result of the ASU, in certain cases, previous consolidation conclusions may change. The standard is effective January 1, 2017 with retrospective application to January 1, 2016. The Company does not have significant involvement with entities subject to consolidation considerations impacted by VIE model factors. As a result, the adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash, which clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows. Under the ASU, changes in restricted cash and restricted cash equivalents would be included along with those of cash and cash equivalents in the statement of cash flows. As a result, entities would no longer present transfers between cash/equivalents and restricted cash/equivalents in the statement of cash flows. In addition, a reconciliation between the balance sheet and the statement of cash flows would be disclosed when the balance sheet includes more than one line item for cash/equivalents and restricted cash/equivalents. The ASU is effective January 1, 2018, with early adoption permitted. Entities are required to apply the standard’s provisions on a retrospective basis. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business, which narrows the existing definition of a business and provides a framework for evaluating whether a transaction should be accounted for as an acquisition (or disposal) of assets or a business. The ASU requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities (collectively, the set) is not a business. To be considered a business, the set would need to include an input and a substantive process that together significantly contribute to the ability to create outputs. The standard also narrows the definition of outputs. The definition of a business affects areas of accounting such as acquisitions, disposals and goodwill. Under the new guidance, fewer acquired sets are expected to be considered businesses. The ASU is effective January 1, 2018 on a prospective basis with early adoption permitted. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment. Under the new standard, goodwill impairment would be measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying value of goodwill. This ASU eliminates existing guidance that requires an entity to determine goodwill impairment by calculating the implied fair value of goodwill by hypothetically assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. For the Company, this ASU is effective prospectively to impairment tests beginning January 1, 2020, with early adoption permitted. The Company would apply this guidance to applicable impairment tests after the adoption date.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 3. GOING CONCERN	As reflected in the accompanying financial statements, the Company had accumulated deficit of $3,161,674 and $3,038,346 as of June 30, 2018 and December 31, 2017 which include a loss of $151,622 and $191,156 for the period ended June 30, 2018 and 2017, respectively. The Company’s ability to generate profit in the next 12 months is uncertain given that the demand for the Company’s products has been weak. Management plans to raise additional capital through the issuance of new shares to the equity markets and to borrow from related parties. As of June 30, 2018, there was substantial doubt on the Company’s ability to continue as going concern, during the period ended June 30, 2018, the Company had not alleviated that doubt, and as of the date of this report, substantial doubts as to the Company’s ability continue as going concern still exists.

LAND, PROPERTY & EQUIPMENT

LAND, PROPERTY & EQUIPMENT	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 4. LAND, PROPERTY & EQUIPMENT	Land, property & equipment consist of the following: June 30, December 31, 2018 2017 Computer and software $ 21,893 $ 21,773 Furniture and fittings 30,233 30,067 Office equipment 44,118 43,876 Renovations and improvements 353,224 351,285 Building 923,825 918,754 Land 226,667 225,423 Total 1,599,960 1,591,178 Less: accumulated depreciation (448,057 ) (409,100 ) Net $ 1,151,903 $ 1,182,078 The depreciation expense charged to general and administrative expenses were $37,621 and $33,183 for the six months ended June 30, 2018 and 2017, respectively.

RELATED PARTIES TRANSACTIONS

RELATED PARTIES TRANSACTIONS	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 5. RELATED PARTIES TRANSACTIONS	Due from related parties consists of the following: June 30, December 31, 2018 2017 Purpose Global Bizrewards Sdn. Bhd. $ 293,572 $ 261,891 Advance M1 Tech Sdn. Bhd. (fka. Fine Portal Sdn Bhd) 25,598 20,252 Advance Sportlight Academy Sdn. Bhd. 12,989 12,917 Advance M1Elite Sdn. Bhd. 20,681 14,499 Advance Total Due from 352,840 309,559 Due to related parties consists of the following: June 30, December 31, 2018 2017 Purpose Dato Sri Warren Eu Hin Chai $ 927,358 $ 763,882 Capital Advance Michael A. Zahorik 30,307 30,307 Capital Advance SKH Media Sdn. Bhd. 96,488 47,195 Capital Advance and rental Total Due to 1,054,153 841,384 The related parties’ relationship to the Company as follows: Name Relationship Michael A. Zahorik Former director Global Bizrewards Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai M1 Tech Sdn. Bhd.(fka. Fine Portal Sdn.Bhd.) Related by common director, Dato' Sri Eu Hin Chai Sportlight Academy Sdn. Bhd. Related by key employee; Lim Chee Pin M1Elite Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai SKH Media Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai Dato Sri Warren Eu Hin Chai Director & Shareholder of the Company The amounts due from or due to related parties were unsecured, non-interest bearing, and due on demand. The Company leased an office space from SKH Media Sdn. Bhd. The rent expenses were $15,243 and $13,674 for the six months ended June 30, 2018 and 2017, respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 6. STOCKHOLDERS' EQUITY	On February 20, 2015, the majority shareholders voted on and approved an increase of the number of authorized common shares from 100,000,000 to 500,000,000 and a decrease in par value from $0.001 to $0.00001. The majority shareholders also voted on and approved a designation of 10,000,000 preferred shares with no series and a par value of $0.00001. The financial statements presented have been retroactively restated to present the change in authorized and par value. Equity –Common Stock The Company has 182,444,266 shares of common stock issued and outstanding as of June 30, 2018.

COMMITMENTS, CONTINGENCIES, RIS

COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 7. COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES	Operating Lease Commitments The Company entered into a property lease agreement for office space which started on December 1, 2014 and expired on October 31, 2015 for monthly payment of MYR10,000 (approximately $2,250). The lease was not renewed and the Company continues to rent the property on a month to month basis. The rent expenses were $15,243 and $13,674 for the six months ended June 30, 2018 and 2017, respectively. Concentration and Credit risk Cash deposits with banks are held in financial institutions in Malaysia, which are federally insured with deposit protection up to MYR250,000 (approximately $64,763). Accordingly, the Company has a concentration of credit risk related to the uninsured part of bank deposits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk. The Company had no concentration in demand for its products. The Company depends on few supplier for its products. Accordingly, the Company has a concentration risk related to these suppliers. Failure to maintain existing relationships with the suppliers or to establish new relationships in the future could negatively affect the Company’s ability to obtain products sold to customers in a timely manner. If the Company is unable to obtain ample supply of products from existing suppliers or alternative sources of supply, the Company may be unable to satisfy the orders from its customers, which could materially and adversely affect revenues. Contingent Liability A former Director of the Company represents that the Company owes back compensation for services he believes he rendered to the Company and expenses he paid on behalf of the Company. The Company believes all balances owed to him have been settled in prior periods. The Company asserts that a claim has not be filed against the Company for potential damages; accordingly, the Company is unable to reasonably estimate a potential loss or liability in this matter including related legal costs. In the event that a claim is filed against the Company, the Company will provide further disclosure.

TERM LOAN

TERM LOAN	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 8. TERM LOAN	On December 23, 2014, MYR2,300,000 (approximately $657,507) term loan was granted to the Company for the purchase of a four-story office with a repayment period of 240 months. The term loan was secured by the title deed for the said property and guaranteed by directors of the Company. The term loan is subject to an interest charges at 2.10% per annum below the Bank’s Base Lending Rate (“BLR”) with daily rests. The BLR is currently at 6.85% for June 30, 2018. On July 27, 2015, the Company made a drawdown of MYR2,300,000 (approx. $609,554) on the term loan. The repayment started effectively on September 1, 2015 with a fixed installment of MYR14,863.14 (approx. $3,582) for 240 installments. The outstanding balance of the term loan is $520,608, of which $21,313 is due within one operating period and classified as short term, and $499,295 is due after one operating period, and has classified as long term for the period ended June 30, 2018. Interest expenses were $12,703 and $11,486 for the six months ended June 30, 2018 and 2017, respectively. June 30, December 31, 2018 2017 Repayable within 1 year. $ 21,313 $ 20,709 Repayable within 2 year 22,328 21,695 Repayable within 3 year 23,391 22,728 Repayable within 4 year 24,501 23,808 Repayable within 5 year 25,641 24,932 Repayable after 5 year 403,434 413,408 Total Due from 520,608 527,280

PROVISION FOR TAXES

PROVISION FOR TAXES	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 9. PROVISION FOR TAXES	United States Umatrin Holding Ltd (“UMHL”) is established in the State of Delaware in United States and is subject to Delaware State and US Federal tax laws. The income tax rate is 34% for years prior to 2018 and 21% for years thereafter. UMHL has not recognized an income tax benefit for its operating losses based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not. Further, the benefit from utilization of NOL carry forwards could be subject to limitations due to material ownership changes that could occur in the Company as it continues to raise additional capital. Based on such limitations, the Company has significant NOLs for which realization of tax benefits is uncertain. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. As of June 30, 2018, UMHL has accumulated net operating losses of $3,159,528 which carryovers as a deferred tax asset that begins to expire in 2025. The net losses before income taxes and its provision for income taxes as follows: For the six months ended June 30, June 30, 2018 2017 Net loss before income taxes (10,155 ) (51,076 ) Tax expenses (benefit) at the statutory tax rate - - Tax effect of: Valuation allowance 10,155 51,076 Income tax benefit - - The components of deferred tax assets and liabilities as follows: June 30, December 31, 2018 2017 Deferred tax asset Net operating losses carry forwards 452,014 441,899 Valuation allowance (452,014 ) (441,899 ) Deferred tax assets, net - - Malaysia The Company’s subsidiary, U Matrin Worldwide SDN BHD, is established in Malaysia and its income is subject to Malaysia tax laws. The income tax rate is 18% (2017 : 18%) for the first MYR500,000 ($127,029) taxable income and 24% (2017 : 24%) thereafter. The net income (losses) before income taxes and its provision for income taxes as follows: For the six months ended June 30, June 30, 2018 2017 Net loss before income taxes (141,467 ) (140,080 ) Tax expenses (benefit) at the statutory tax rate (25,464 ) (25,214 ) Tax effects of: Expenses not currently deductible - - Under accrual taxes in prior - - Valuation allowance 25,464 25,214 Income tax expense (benefit) - - The components of deferred tax assets and liabilities as follows: June 30, December 31, 2018 2017 Deferred tax asset Expenses not currently deductible 10,633 10,575 Valuation allowance - - Deferred tax assets, net 10,633 10,575 The Company has prepaid income tax of $108,830 and $78,656 as of June 30, 2018 and December 31, 2017, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 10. SUBSEQUENT EVENTS	Management has evaluated subsequent events through the date the financial statements were issued. Based on our evaluation, no events have occurred which require adjustment or disclosure.

SIGNIFICANT ACCOUNTING POLICI16

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2018
Significant Accounting Policies
Basis of presentation	The accompanying consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United States ("US GAAP"). The accompanying consolidated financial statements include the accounts of the Company and its subsidiary. Significant inter-company transactions have been eliminated in consolidation. In accordance with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented for prior periods have been be retroactively adjusted to furnish comparative information. The accompanying consolidated financial statements are presented retrospectively as though the share exchange agreement between the UMHL and Umatrin occurred at the beginning of the first period presented.
Interim Financial Statements	The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) applicable to interim financial information and the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosure required by accounting principles generally accepted in the United States of America for complete financial statements. Interim results are not necessarily indicative of results for a full year. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position and the results of operations and cash flows for the interim periods have been included. These interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2017, as not all disclosures required by generally accepted accounting principles for annual financial statements are presented. The interim financial statements follow the same accounting policies and methods of computations as the audited financial statements for the year ended December 31, 2017.
Use of estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Reclassification	Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net income or losses.
Functional and presentation currency	The functional currency of Umatrin is the currency of the primary economic environment in which the Company operates which is Malaysia Ringgit (“MYR”). Transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at the end of the reporting periods. Exchange differences arising on the settlement of monetary items and on translation of monetary items at period-end are included in income statement of the period. For the purpose of presenting these financial statements, the Company’s assets and liabilities are expressed in US$ at the exchange rate on the balance sheet date, stockholder’s equity accounts are translated at historical rates, and income and expense items are translated at the weighted average exchange rate during the period. The resulting translation adjustments are reported under accumulated other comprehensive income in the stockholder’s equity section of the balance sheets. Exchange rate used for the translation as follows: Period End Average US$ to MYR Rate Rate June 30, 2018 4.0350 3.9361 December 31, 2017 4.0573 4.2982 June 30, 2017 4.2925 4.3879
Fair value of financial instruments	The Company’s balance sheet includes financial instruments, including cash, term loan, accounts payable, accrued expenses, amounts due to related party and convertible notes payable to a related party. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2018. The respective carrying value of certain amounts on the balance sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Related parties	The Company adopted ASC 850, Related Party Disclosures
Risks and uncertainties	The Company’s operations are subject to significant risks and uncertainties including financial, operational and regulatory risks, including the potential risk of business failure.
Commitments and contingencies	The Company adopted ASC 450-20, Loss Contingencies
Cash and cash equivalents	The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash and cash equivalents for the period ended June 30, 2018 and December 31, 2017 were $42,769 and $73,093 respectively.
Trade receivables	Trade receivables are carried at anticipated realizable value. Bad debts are written off in the period in which they are identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet date. Bad debt expenses were $nil and $nil for the six months ended June 30, 2018 and 2017, respectively. At June 30, 2018 and December 31, 2017, the Company did not have any outstanding trade receivables.
Inventories	Inventories, which are primarily comprised of finished goods for sale, are stated at the lower of cost or net realizable value, using the first-in first-out (FIFO) method. The Company evaluates the need for reserves associated with obsolete, slow-moving and non-salable inventory by reviewing net realizable values on a periodic basis. Only defects products could be return to our suppliers.
Property and equipment	Property and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is calculated under the straight-line method to write off the cost of the assets over their estimated useful lives. Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 40 years Land 95 years An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from de-recognition of asset is recognized in profit or loss. Expenditures for repairs and maintenance, which do not improve or extend the expected useful lives of the assets, are expensed as incurred while major replacements and improvements are capitalized.
Impairment of Long-lived Assets	In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded no impairment charge for the six months ended June 30, 2018 and 2017.
Revenue recognition	The Company adopted ASU 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The adoption of Topic 606 has no impact on revenue amounts recorded on the Company’s interim financial statements. The Company generally recognizes product sales revenue when the performance obligation have been satisfied pursuant to Malaysia law, including such factors as contract existed with the customer, delivery and acceptance of products by customer has occurred, the sales price is fixed or determinable and allocated to the products sold, sales and value-added tax laws have been complied with, and collectability is reasonably assured. The Company estimates potential returns and records such estimates against its gross revenue to arrive at its reported net sales revenue.
Commission	The Company expenses commission costs as incurred and includes it in selling expenses. The Company expenses commission costs as incurred and includes it in selling expenses. The Company grants commission to dealers and promoters to promote and sell the products. Amount of commission is based upon agreed value between the Company and the dealers and promoters as there is no fix basis for such amount.
Advertising	The Company expenses advertising costs as incurred and includes it in selling expenses. The Company recorded $nil and $3,418 for advertising and promotions expenses during the six months ended June 30, 2018 and 2017, respectively.
Income taxes and valuation allowance	The Company follows ASC 740, Income Taxes A tax benefit from an uncertain tax position may be recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that the relevant taxing authority that has full knowledge of all relevant information will examine each uncertain tax position. Although the Company believes the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals.
Comprehensive income (loss)	The Company follows the provisions of the Financial Accounting Standards Board (the “FASB”) ASC 220 Reporting Comprehensive Income
Segment information	The Company adopted ASC-280, Disclosures about Segments of an Enterprise and Related Information
Recent accounting pronouncements	In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which revises the accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The new guidance requires the fair value measurement of investments in equity securities and other ownership interests in an entity, including investments in partnerships, unincorporated joint ventures and limited liability companies (collectively, equity securities) that do not result in consolidation and are not accounted for under the equity method. Entities will need to measure these investments and recognize changes in fair value in net income. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities they classify under current guidance as available for sale in other comprehensive income (OCI). They also will no longer be able to use the cost method of accounting for equity securities that do not have readily determinable fair values. Instead, for these types of equity investments that do not otherwise qualify for the net asset value practical expedient, entities will be permitted to elect a practicability exception and measure the investment at cost less impairment plus or minus observable price changes (in orderly transactions). The ASU also establishes an incremental recognition and disclosure requirement related to the presentation of fair value changes of financial liabilities for which the fair value option (FVO) has been elected. Under this guidance, an entity would be required to separately present in OCI the portion of the total fair value change attributable to instrument-specific credit risk as opposed to reflecting the entire amount in earnings. For derivative liabilities for which the FVO has been elected, however, any changes in fair value attributable to instrument-specific credit risk would continue to be presented in net income, which is consistent with current guidance. The standard is effective beginning January 1, 2018 via a cumulative-effect adjustment to beginning retained earnings, except for guidance relative to equity securities without readily determinable fair values which is applied prospectively. The adoption of this ASU’s did not have a material impact on the consolidated results of operations and financial condition. In February 2016, the FASB issued ASU No. 2016-02, Leases, replacing existing lease accounting guidance. The new standard introduces a lessee model that would require entities to recognize assets and liabilities for most leases, but recognize expenses on their income statements in a manner similar to current accounting. The ASU does not make fundamental changes to existing lessor accounting. However, it modifies what qualifies as a sales-type and direct financing lease and related accounting and aligns a number of the underlying principles with those of the new revenue standard, ASU No. 2014-09, such as evaluating how collectability should be considered and determining when profit can be recognized. The guidance eliminates existing real estate-specific provisions and requires expanded qualitative and quantitative disclosures. The standard requires modified retrospective transition by which it is applied at the beginning of the earliest comparative period presented in the year of adoption. The ASU is effective January 1, 2019. The Company is currently assessing this ASU’s impact on the consolidated results of operations and financial condition. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations by amending certain existing illustrative examples and adding additional illustrative examples to assist in the application of the guidance. The effective date and transition of these amendments is the same as the effective date and transition of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Public entities should apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein. The adoption of this ASU the impact of the adoption on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, which is intended to reduce diversity in practice in how certain cash receipts and payments are presented and classified in the statement of cash flows. The standard provides guidance in a number of situations including, among others, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and distributions received from equity method investees. The ASU also provides guidance for classifying cash receipts and payments that have aspects of more than one class of cash flows. The ASU is effective January 1, 2018, with early adoption permitted. The standard requires application using a retrospective transition method. The adoption of this ASU did not have a material impact on the consolidated results of operations and financial condition. In October 2016, the FASB issued ASU No. deferred from past intercompany transactions involving non-inventory assets to opening retained earnings. In addition, an entity would record deferred tax assets with an offset to opening retained earnings for amounts that entity had previously not recognized under existing guidance 2016-16, Intra-Entity Transfers of Assets Other Than Inventory, which modifies existing guidance and is intended to reduce diversity in practice with respect to the accounting for the income tax consequences of intra-entity transfers of assets. The ASU indicates that the current exception to income tax accounting that requires companies to defer the income tax effects of certain intercompany transactions would apply only to intercompany inventory transactions. That is, the exception would no longer apply to intercompany sales and transfers of other assets (e.g., intangible assets). Under the existing exception, income tax expense associated with intra-entity profits in an intercompany sale or transfer of assets is eliminated from earnings. Instead, that cost is deferred and recorded on the balance sheet (e.g., as a prepaid asset) until the assets leave the consolidated group. Similarly, the entity is prohibited from recognizing deferred tax assets for the increases in tax bases due to the intercompany sale or transfer. The ASU is effective January 1, 2018, with early adoption permitted as of January 1, 2017. The standard requires modified retrospective transition with a cumulative catch-up adjustment to opening retained earnings in the period of adoption. Upon adoption, a company would write off any income tax effects that had been but would recognize under the new guidance. The adoption of this ASU did not have a material impact on the consolidated results of operations and financial condition. In October 2016, the FASB issued ASU No. 2016-17, Interests Held through Related Parties That Are under Common Control, which modifies existing guidance with respect to how a decision maker that holds an indirect interest in a variable interest entity (VIE) through a common control party determines whether it is the primary beneficiary of the VIE as part of the analysis of whether the VIE would need to be consolidated. Under the ASU, a decision maker would need to consider only its proportionate indirect interest in the VIE held through a common control party. Previous guidance had required the decision maker to treat the common control party’s interest in the VIE as if the decision maker held the interest itself. As a result of the ASU, in certain cases, previous consolidation conclusions may change. The standard is effective January 1, 2017 with retrospective application to January 1, 2016. The Company does not have significant involvement with entities subject to consolidation considerations impacted by VIE model factors. As a result, the adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash, which clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows. Under the ASU, changes in restricted cash and restricted cash equivalents would be included along with those of cash and cash equivalents in the statement of cash flows. As a result, entities would no longer present transfers between cash/equivalents and restricted cash/equivalents in the statement of cash flows. In addition, a reconciliation between the balance sheet and the statement of cash flows would be disclosed when the balance sheet includes more than one line item for cash/equivalents and restricted cash/equivalents. The ASU is effective January 1, 2018, with early adoption permitted. Entities are required to apply the standard’s provisions on a retrospective basis. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business, which narrows the existing definition of a business and provides a framework for evaluating whether a transaction should be accounted for as an acquisition (or disposal) of assets or a business. The ASU requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities (collectively, the set) is not a business. To be considered a business, the set would need to include an input and a substantive process that together significantly contribute to the ability to create outputs. The standard also narrows the definition of outputs. The definition of a business affects areas of accounting such as acquisitions, disposals and goodwill. Under the new guidance, fewer acquired sets are expected to be considered businesses. The ASU is effective January 1, 2018 on a prospective basis with early adoption permitted. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial condition. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment. Under the new standard, goodwill impairment would be measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying value of goodwill. This ASU eliminates existing guidance that requires an entity to determine goodwill impairment by calculating the implied fair value of goodwill by hypothetically assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. For the Company, this ASU is effective prospectively to impairment tests beginning January 1, 2020, with early adoption permitted. The Company would apply this guidance to applicable impairment tests after the adoption date.

SIGNIFICANT ACCOUNTING POLICI17

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2018
Significant Accounting Policies Tables Abstract
Exchange rate used for translation	Period End Average US$ to MYR Rate Rate June 30, 2018 4.0350 3.9361 December 31, 2017 4.0573 4.2982 June 30, 2017 4.2925 4.3879
Estimated useful lives of assets	Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 40 years Land 95 years

LAND, PROPERTY & EQUIPMENT (Tab

LAND, PROPERTY & EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2018
Land Property Equipment
Land, property & equipment	June 30, December 31, 2018 2017 Computer and software $ 21,893 $ 21,773 Furniture and fittings 30,233 30,067 Office equipment 44,118 43,876 Renovations and improvements 353,224 351,285 Building 923,825 918,754 Land 226,667 225,423 Total 1,599,960 1,591,178 Less: accumulated depreciation (448,057 ) (409,100 ) Net $ 1,151,903 $ 1,182,078

RELATED PARTIES TRANSACTIONS (T

RELATED PARTIES TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2018
Related Parties Transactions
Due from related parties	June 30, December 31, 2018 2017 Purpose Global Bizrewards Sdn. Bhd. $ 293,572 $ 261,891 Advance M1 Tech Sdn. Bhd. (fka. Fine Portal Sdn Bhd) 25,598 20,252 Advance Sportlight Academy Sdn. Bhd. 12,989 12,917 Advance M1Elite Sdn. Bhd. 20,681 14,499 Advance Total Due from 352,840 309,559
Due to related parties	June 30, December 31, 2018 2017 Purpose Dato Sri Warren Eu Hin Chai $ 927,358 $ 763,882 Capital Advance Michael A. Zahorik 30,307 30,307 Capital Advance SKH Media Sdn. Bhd. 96,488 47,195 Capital Advance and rental Total Due to 1,054,153 841,384
Related partiesÂ’ relationship to the Company	Name Relationship Michael A. Zahorik Former director Global Bizrewards Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai M1 Tech Sdn. Bhd.(fka. Fine Portal Sdn.Bhd.) Related by common director, Dato' Sri Eu Hin Chai Sportlight Academy Sdn. Bhd. Related by key employee; Lim Chee Pin M1Elite Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai SKH Media Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai Dato Sri Warren Eu Hin Chai Director & Shareholder of the Company

TERM LOAN (Tables)

TERM LOAN (Tables)	6 Months Ended
	Jun. 30, 2018
Term Loan
Schedule of Interest expense	June 30, December 31, 2018 2017 Repayable within 1 year. $ 21,313 $ 20,709 Repayable within 2 year 22,328 21,695 Repayable within 3 year 23,391 22,728 Repayable within 4 year 24,501 23,808 Repayable within 5 year 25,641 24,932 Repayable after 5 year 403,434 413,408 Total Due from 520,608 527,280

PROVISION FOR TAXES (Tables)

PROVISION FOR TAXES (Tables)	6 Months Ended
	Jun. 30, 2018
United States [Member]
Schedule of provision for income taxes	For the six months ended June 30, June 30, 2018 2017 Net loss before income taxes (10,155 ) (51,076 ) Tax expenses (benefit) at the statutory tax rate - - Tax effect of: Valuation allowance 10,155 51,076 Income tax benefit - -
Schedule of Deferred Tax Assets and Liabilities	June 30, December 31, 2018 2017 Deferred tax asset Net operating losses carry forwards 452,014 441,899 Valuation allowance (452,014 ) (441,899 ) Deferred tax assets, net - -
Malaysia [Member]
Schedule of provision for income taxes	For the six months ended June 30, June 30, 2018 2017 Net loss before income taxes (141,467 ) (140,080 ) Tax expenses (benefit) at the statutory tax rate (25,464 ) (25,214 ) Tax effects of: Expenses not currently deductible - - Under accrual taxes in prior - - Valuation allowance 25,464 25,214 Income tax expense (benefit) - -
Schedule of Deferred Tax Assets and Liabilities	June 30, December 31, 2018 2017 Deferred tax asset Expenses not currently deductible 10,633 10,575 Valuation allowance - - Deferred tax assets, net 10,633 10,575

ORGANIZATION (Details Narrative

ORGANIZATION (Details Narrative) - shares	Jan. 06, 2016	Jun. 30, 2018
State or Country of incorporation		Delaware
Incorporation date		Feb. 2, 2005
U Matrin Worldwide SDN. BHD [Member]
Equity ownership, percentage	80.00%
Business acquisition equity interest, shares issued	100,000,000
Dato' Sri Eu Hin Chai [Member]
Equity ownership, percentage		76.00%
Dato' Sri Eu Hin Chai [Member] | Business combination [Member]
Equity ownership, percentage		61.25%
Dato' Liew Kok Hong [Member] | Business combination [Member]
Equity ownership, percentage		38.75%

SIGNIFICANT ACCONTING POLICIES

SIGNIFICANT ACCONTING POLICIES (Details) - US$ to MYR [Member]	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Foreign currency translation Period End Rate	4.0350	4.0573	4.2925
Foreign currency translation average exchange rate	3.9361	4.2982	4.3879

SIGNIFICANT ACCONTING POLICIE24

SIGNIFICANT ACCONTING POLICIES (Details 1)	6 Months Ended
	Jun. 30, 2018
Computer and software [Member]
Estimated useful lives	5 years
Furniture and fittings [Member]
Estimated useful lives	10 years
Office equipment [Member]
Estimated useful lives	10 years
Renovation and improvements [Member]
Estimated useful lives	10 years
Building [Member]
Estimated useful lives	40 years
Land [Member]
Estimated useful lives	95 years

SIGNIFICANT ACCONTING POLICIE25

SIGNIFICANT ACCONTING POLICIES (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Significant Acconting Policies
Cash and cash equivalents	$ 42,769	$ 66,443	$ 73,093	$ 133,269
Bad debt expense	0	0
Advertising and promotions expenses	$ 0	$ 3,418

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Going Concern
Accumulated deficit	$ (3,161,674)		$ (3,161,674)		$ (3,038,346)
Net loss	$ (74,108)	$ (34,727)	$ (151,622)	$ (191,156)

LAND, PROPERTY & EQUIPMENT (Det

LAND, PROPERTY & EQUIPMENT (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Total	$ 1,599,960	$ 1,591,178
Less: accumulated depreciation	(448,057)	(409,100)
Land, property and equipment, net	1,151,903	1,182,078
Computer and software [Member]
Total	21,893	21,773
Furniture and fittings [Member]
Total	30,233	30,067
Office equipment [Member]
Total	44,118	43,876
Renovation and improvements [Member]
Total	353,224	351,285
Building [Member]
Total	923,825	918,754
Land [Member]
Total	$ 226,667	$ 225,423

LAND, PROPERTY & EQUIPMENT (D28

LAND, PROPERTY & EQUIPMENT (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Property Equipment Details Narrative Abstract
Depreciation expense	$ 37,621	$ 33,183

RELATED PARTIES TRANSACTIONS (D

RELATED PARTIES TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Total Due from	$ 352,840	$ 309,559
Global Bizrewards Sdn. Bhd. [Member]
Total Due from	$ 293,572	261,891
Purpose	Advance
Fine Portal Sdn. Bhd. [Member]
Total Due from	$ 25,598	20,252
Purpose	Advance
Sportlight Academy Sdn. Bhd. [Member]
Total Due from	$ 12,989	12,917
Purpose	Advance
M1Elite Sdn. Bhd. [Member]
Total Due from	$ 20,681	$ 14,499
Purpose	Advance

RELATED PARTIES TRANSACTIONS 30

RELATED PARTIES TRANSACTIONS (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Total Due to	$ 1,054,153	$ 841,384
Dato Sri Warren Eu Hin Chai [Member]
Total Due to	$ 927,358	763,882
Purpose for due to related parties	Capital Advance
Michael A. Zahorik [Member]
Total Due to	$ 30,307	30,307
Purpose for due to related parties	Capital Advance
SKH Media Sdn. Bhd [Member]
Total Due to	$ 96,488	$ 47,195
Purpose for due to related parties	Capital Advance and rental

RELATED PARTIES TRANSACTIONS 31

RELATED PARTIES TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Related Party Transaction [Line Items]
Operating lease rental expense	$ 15,243	$ 13,674
SKH Media Sdn. Bhd [Member]
Related Party Transaction [Line Items]
Operating lease rental expense	$ 15,243	$ 13,674

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	Jun. 30, 2018	Dec. 31, 2017	Feb. 20, 2015
Stockholders Equity
Common stock shares authorized	500,000,000	500,000,000	100,000,000
Common stock par value	$ 0.00001	$ 0.00001	$ 0.001
Designated preferred stock, shares authorized	10,000,000	10,000,000	10,000,000
Designated preferred stock, par value	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, Issued	182,444,266	182,444,266
Common stock, Outstanding	182,444,266	182,444,266

COMMITMENTS, CONTINGENCIES, R33

COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES (Details Narrative) - USD ($)	6 Months Ended		11 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Oct. 31, 2015
Commitments Contingencies Risks And Uncertainties
Operating lease rent expenses periodic payments			$ 2,250
Frequency of periodic payments			Monthly
Operating lease expiration date			Oct. 31, 2015
Operating lease rental expense	$ 15,243	$ 13,674
Concentration and credit risk federally insured, Amount	$ 64,763

TERM LOAN (Details)

TERM LOAN (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Term Loan Details Narrative Abstract
Repayable within 1 year	$ 21,313	$ 20,709
Repayable within 2 year	22,328	21,695
Repayable within 3 year	23,391	22,728
Repayable within 4 year	24,501	23,808
Repayable within 5 year	25,641	24,932
Repayable after 5 year	403,434	413,408
Total Due from	$ 520,608	$ 527,280

TERM LOAN (Details Narrative)

TERM LOAN (Details Narrative)	1 Months Ended		6 Months Ended
	Jul. 27, 2015USD ($)Number	Dec. 23, 2014USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Term Loan Details Narrative Abstract
Term loan, maximum borrowing capacity		$ 657,507
Amount of term loan borrowed	$ 609,554
Period of term loan		240 months
Description for interest rate		The term loan is subject to an interest charges at 2.10% per annum below the Bank's Base Lending Rate ("BLR") with daily rests
Term loan, periodic payments	$ 3,582
Number of installments | Number	240
Base lending rate			6.85%
Interest expenses			$ 12,703	$ 11,486
Term loan outstanding			520,608		$ 527,280
Term loan payable-current portion			21,313		20,709
Term loan payable-long term portion			$ 499,295		$ 506,571

PROVISION FOR TAXES (Details)

PROVISION FOR TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net loss before income taxes	$ (74,108)	$ (34,727)	$ (151,622)	$ (191,156)
Tax effect of:
Income tax benefit
United States [Member]
Net loss before income taxes			(10,155)	(51,076)
Tax expenses (benefit) at the statutory tax rate
Tax effect of:
Valuation allowance			10,155	51,076
Income tax benefit

PROVISION FOR TAXES (Details 1)

PROVISION FOR TAXES (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Deferred tax asset
Deferred tax assets, net	$ 10,633	$ 10,575
United States [Member]
Deferred tax asset
Net operating losses carryforwards	452,014	441,899
Valuation allowance	(452,014)	(441,899)
Deferred tax assets, net

PROVISION FOR TAXES (Details 2)

PROVISION FOR TAXES (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net loss before income taxes	$ (74,108)	$ (34,727)	$ (151,622)	$ (191,156)
Tax effects of:
Income tax expense (benefit)
Malaysia [Member]
Net loss before income taxes			(141,467)	(140,080)
Tax expense (benefit) at the statutory tax rate			(25,464)	(25,214)
Tax effects of:
Expenses not currently deductible
Under accrual taxes in prior
Valuation allowance			25,464	25,214
Income tax expense (benefit)

PROVISION FOR TAXES (Details 3)

PROVISION FOR TAXES (Details 3) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Deferred tax asset
Deferred tax assets, net	$ 10,633	$ 10,575
Malaysia [Member]
Deferred tax asset
Expenses not currently deductible	10,633	10,575
Valuation allowance
Deferred tax assets, net	$ 10,633	$ 10,575

PROVISION FOR TAXES (Details Na

PROVISION FOR TAXES (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Net operating loss carried forward	$ 3,159,528
Net operating loss carry forwards expire period	2,025
Prepaid income tax	$ 108,830	$ 78,656
Malaysia [Member]
Interest income taxable	$ 127,029