Agape ATP (ATPC) 10-Q 14 May 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 11, 2018
Document And Entity Information
Entity Registrant Name	Agape ATP Corp
Entity Central Index Key	1,713,210
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		374,275,500
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Jun. 30, 2017
NON CURRENT ASSETS
Investment in investee company	$ 867,772
Total Non Current Assets	867,772
CURRENT ASSETS
Cash and cash equivalents	4,114,063	2,312,748
Account receivables	52,414
Prepayment	5,833
Total Current Assets	4,172,310	2,312,748
TOTAL ASSETS	5,040,082	2,312,748
CURRENT LIABILITIES
Other payables and accrued liabilities	2,000	8,000
Income tax provision	5,682
Amount due to a director	3,927	100
Total Current Liabilities	11,609	8,100
TOTAL LIABILITIES	11,609	8,100
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common Stock, par value $0.0001; 1,000,000,000 shares authorized, 374,275,500 and 371,350,000 issued and outstanding as of March 31, 2018 and June 30, 2017	37,428	37,135
Additional paid in capital	5,293,082	2,367,875
Accumulated losses	(302,377)	(100,362)
Other Comprehensive Income	340
TOTAL STOCKHOLDERS’ EQUITY	5,028,473	2,304,648
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 5,040,082	$ 2,312,748

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Jun. 30, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	374,275,500	371,350,000
Common stock, shares outstanding	374,275,500	371,350,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Losses (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
REVENUE			$ 487,626
COST OF REVENUE			(441,972)
GROSS PROFIT			45,654
OTHER INCOME	8		1,718
SELLING AND DISTRIBUTION EXPENSES
ADMINISTRATIVE EXPENSES	(23,981)		(32,492)
OTHER OPERATING EXPENSES	(4,883)		(215,393)
LOSS BEFORE INCOME TAX	(28,856)		(200,513)
SHARE OF RESULT OF INVESTEE COMPANY	4,180		4,180
LOSS BEFORE INCOME TAX INCLUDING SHARE OF RESULT OF INVESTEE COMPANY	(24,676)		(196,333)
TAXES PROVISION			(5,682)
NET PROFIT/(LOSS)	(24,676)		(202,015)
Other comprehensive income:
- Foreign currency translation adjustment	494		340
Total Comprehensive Profit/(Loss)	$ (24,182)		$ (201,675)
Net loss per share- Basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding - Basic and diluted	374,061,644	100,000	372,298,801	100,000

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (196,333)
Adjustments to reconcile net loss to net cash used in operating activities
Share of result of investee company	(4,180)
Changes in operating assets and liabilities:
Accounts receivables	(52,414)
Other payables and accrued liabilities	(6,000)
Amount due to a director	3,827
Prepayment	(5,833)
Net cash used in operating activities	(260,933)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	2,925,500
Net cash provided by financing activities	2,925,500
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in investee company	(863,592)
Net cash used in investing activities	(863,592)
Effect of exchange rate changes on cash and cash equivalents	340
Net increase in cash and cash equivalents	1,801,315
Cash and cash equivalents, beginning of period	2,312,748
CASH AND CASH EQUIVALENTS, END OF PERIOD	4,114,063
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid
Interest paid

Description of Business and Org

Description of Business and Organization	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Description of Business and Organization	1. DESCRIPTION OF BUSINESS AND ORGANIZATION Agape ATP Corporation was incorporated on June 1, 2016 under the laws of the state of Nevada. The Company, through its subsidiaries, mainly engages in providing health and wellness products and health solution advisory services. Company name Place and date of incorporation Principal activities 1. Agape ATP Corporation Labuan, March 6, 2017 Investment holding 2. Agape ATP International Holding Limited Hong Kong, June 1, 2017 Health and wellness products and health solution advisory services. We are a development-stage company with a fiscal year end of June 30. At this moment, we operate exclusively through our wholly owned subsidiaries Agape ATP Corporation and Agape ATP International Holding Limited, and share the same business plan of our subsidiaries which is to provide health and wellness products and health solution advisory services. Agape ATP Corporation and its subsidiaries are hereinafter referred to as the “Company”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements for Agape ATP Corporation and its subsidiaries for the nine months ended March 31, 2018 and 2017 are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Agape ATP Corporation and its wholly owned subsidiaries, Agape ATP Corporation and Agape ATP International Holding Limited. Intercompany accounts and transactions have been eliminated in consolidation. The Company has adopted June 30 as its fiscal year end. Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation. Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. Revenue recognition In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” Revenue from supplies of healthy food products is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the products are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there were no sales return for the six months ended March 31, 2018. Cost of revenue Cost of revenue includes the purchase cost of manufactured goods for sale to customers. It excludes purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other costs of distribution network in cost of revenues. Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. Accounts receivable Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. Investment in Investee Company Investee Company that is not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors including, among others, representation on the investee company’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee company. Under the equity method of accounting, an investee company’s accounts are not reported in the Company’s consolidated balance sheets and statements of operations and comprehensive income; however, the Company’s share of the earnings or losses of the investee company is reflected in the caption ‘‘Equity in loss of Investee Company” in the consolidated statements of operations. The Company’s carrying value in an equity method investee company is reported in the caption ‘‘Investment in investee company’’ in the Company’s consolidated balance sheets. When the Company’s carrying value in an equity method investee company is reduced to zero, no further losses are recorded in the Company’s consolidated financial statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals or exceeds the amount of its share of losses not previously recognized. Net income/(loss) per share The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Foreign currencies translation 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. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiary in Labuan maintains its books and record in United States Dollars (“US$”). In addition, the Company’s subsidiaries in Hong Kong maintain its books and record in its local currency, Hong Kong Dollars (“HKD$”) and Ringgits Malaysia (“RM”) is the functional currency as being the primary currency of the economic environment in which the entity operates. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement” Translation of amounts from RM into US$1 and HKD$ into US$1 have been made at the following exchange rates for the respective periods: As of and for the nine months ended March 31 2018 2017 Period-end RM : US$1 exchange rate 3.86 4.43 Period-average RM : US$1 exchange rate 3.92 4.44 Period-end HKD$ : US$1 exchange rate 7.84 7.77 Period-average HKD$ : US$1 exchange rate 7.82 7.75 Fair value of financial instruments: The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures Level 1 Level 2 Level 3 Recent accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Common Stock

Common Stock	9 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Common Stock	3. COMMON STOCK As of March 31, 2018, there are 374,275,500 shares with par value of $0.0001 each of common stock issued and outstanding. There was an increase of 2,925,500 shares with par value of $0.0001 each of common stock issued and outstanding from initial public offering, when compared to the shares of common stock issued and outstanding as of June 30, 2017. There were no stock options, warrants or other potentially dilutive securities outstanding as of March 31, 2018.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	4. INCOME TAXES For the nine months ended March 31, 2018 and 2017, the local (United States) and foreign components of income/(loss) before income taxes were comprised of the following: Nine Months Ended March 31 2018 2017 Tax jurisdictions from: - Local $ (234,166 ) $ - Foreign, representing Labuan, Malaysia (783 ) - Hong Kong 34,436 - Loss before income tax $ (200,513 ) $ - The provision for income taxes consisted of the following: Nine Months Ended March 31 2018 2017 Current: - Local $ - $ - - Foreign 5,682 - Deferred: - Local - - - Foreign - - Income tax expense $ 5,682 $ - The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries that operate in various countries: United States, Labuan and Hong Kong that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of March 31, 2018, the operations in the United States of America incurred $334,366 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards begin to expire in 2037, if unutilized. The Company has provided for a full valuation allowance of $70,217 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future. The Tax Cuts and Jobs Act was enacted in the United States on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings. In December 2017, the SEC issued SAB 118, which directs taxpayers to consider the impact of the U.S. legislation as “provisional” when it does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete its accounting for the change in tax law. As of March 31, 2018, the Company does not recognize any provisional amount for the transition tax. We re-measured certain deferred tax assets and liabilities based on the rates at which they are anticipated to reverse in the future, which is generally 21%. However, we are still examining certain aspects of the Act and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. Labuan Under the current laws of the Labuan, Agape ATP Corporation is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of net audited profit or at a fixed rate of RM20,000. Hong Kong Agape ATP International Holding Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of 16.5% on its assessable income. The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 (unaudited) (audited) Deferred tax assets: Net operating loss carryforwards - United States of America $ (70,217 ) $ (15,792 ) - Hong Kong - - $ (70,217 ) $ (15,792 ) Less: valuation allowance 70,217 15,792 Deferred tax assets $ - $ -

Prepayment

Prepayment	9 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayment	5. PREPAYMENT Prepayment consisted of the following at March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 Prepayment $ 5,833 $ - Total prepayment $ 5,833 $ - As of March 31, 2018, Agape ATP Corporation (US) has prepaid filing fee amount to US$ 2,625 and Agape ATP Corporation (Labuan) has prepaid company secretary amount to US$ 3,208.

Other Payables and Accrued Liab

Other Payables and Accrued Liabilities	9 Months Ended
	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Other Payables and Accrued Liabilities	6. OTHER PAYABLES AND ACCRUED LIABILITIES Other payables and accrued liabilities consisted of the following at March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 Accrued audit fees $ 2,000 $ 8,000 Total payables and accrued liabilities $ 2,000 $ 8,000

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. COMMITMENTS AND CONTINGENCIES As of March 31, 2018, the Company has no commitments or contingencies involved.

Amount Due to a Director

Amount Due to a Director	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Amount Due to a Director	8. AMOUNT DUE TO A DIRECTOR As of March 31, 2018 and June 30, 2017, a director of the Company advanced $3,827 and $100, respectively to the Company, which is unsecured, interest-free with no fixed repayment term, for working capital purpose. Imputed interest is considered insignificant.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	9. RELATED PARTY TRANSACTIONS Nine Months Ended March 31, 2018 Nine Months Ended March 31, 2017 Revenue: - Related Party A $ 487,626 $ - Professional Fee: - Related Party B $ 214,883 $ - Company Secretary Fee: - Related Party B $ 292 $ - Trademark Application Fee: - Related Party B $ 510 $ - The director of related party A is the CEO and the Director of the Company. Related party B is a 4.7% shareholder of the Company.

Concentrations of Risk

Concentrations of Risk	9 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentrations of Risk	10. CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a) Major customers For three months ended March 31, 2018 and 2017, the customers who accounted for 10% or more of the Company’s sales and its outstanding receivable balance at period-end are presented as follows: For three months ended March, 31 March, 31 June, 30 2018 2017 2018 2017 2018 2017 Revenues Percentage of revenues Accounts receivable, trade Customer A $ - - - % - $ 52,414 - $ - - - % - $ 52,414 - For nine months ended March 31, 2018 and 2017, the customers who accounted for 10% or more of the Company’s sales and its outstanding receivable balance at period-end are presented as follows: For nine months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Revenues Percentage of revenues Accounts receivable, trade Customer A $ 487,626 - 100 % - $ 52,414 - $ 487,626 - 100 % - $ 52,414 - (b) Major vendors For three months ended March 31, 2018 and 2017, the vendors who accounted for 10% or more of the Company’s purchases and its outstanding payable balance at period-end are presented as follows: For three months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Purchase Percentage of purchases Accounts payable, trade Vendor A $ - - - % - $ - - $ - - - % - $ - - For nine months ended March 31, 2018 and 2017, the vendors who accounted for 10% or more of the Company’s purchases and its outstanding payable balance at period-end are presented as follows: For nine months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Purchase Percentage of purchases Accounts payable, trade Vendor A $ 441,972 - 100 % - $ - - $ 441,972 - 100 % - $ - -

Investment in Investee Company

Investment in Investee Company	9 Months Ended
	Mar. 31, 2018
Investments Schedule [Abstract]
Investment in Investee Company	11. INVESTMENT IN INVESTEE COMPANY The Company invested in Unreserved Sdn Bhd with investment amount of $863,592 (MYR3,500,000), approximated 20% of equity interest of Unreserved Sdn Bhd and is accounted for under the equity method of accounting. The investment is stated at cost plus profit share in the investee company as at March 31, 2018. Unreserved Sdn Bhd is incorporated in Malaysia with 2,500,000 ordinary shares authorized, issued and outstanding. Mr Lim Hun Soon David Lim, Ms Aniza Helina Akmi Karim, and Mr How Kok Choong are the directors of Unreserved Sdn Bhd. Mr How Kok Choong is the common director of Unreserved Sdn Bhd and the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through May 11, 2018, the date the Company issued unaudited consolidated financial statements in accordance with ASC Topic 855, “ Subsequent Events

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The consolidated financial statements for Agape ATP Corporation and its subsidiaries for the nine months ended March 31, 2018 and 2017 are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Agape ATP Corporation and its wholly owned subsidiaries, Agape ATP Corporation and Agape ATP International Holding Limited. Intercompany accounts and transactions have been eliminated in consolidation. The Company has adopted June 30 as its fiscal year end.
Basis of Consolidation	Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.
Revenue Recognition	Revenue recognition In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” Revenue from supplies of healthy food products is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the products are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there were no sales return for the six months ended March 31, 2018.
Cost of Revenue	Cost of revenue Cost of revenue includes the purchase cost of manufactured goods for sale to customers. It excludes purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other costs of distribution network in cost of revenues.
Cash and Cash Equivalents	Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.
Accounts Receivable	Accounts receivable Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Income Taxes	Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.
Investment in Investee Company	Investment in Investee Company Investee Company that is not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors including, among others, representation on the investee company’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee company. Under the equity method of accounting, an investee company’s accounts are not reported in the Company’s consolidated balance sheets and statements of operations and comprehensive income; however, the Company’s share of the earnings or losses of the investee company is reflected in the caption ‘‘Equity in loss of Investee Company” in the consolidated statements of operations. The Company’s carrying value in an equity method investee company is reported in the caption ‘‘Investment in investee company’’ in the Company’s consolidated balance sheets. When the Company’s carrying value in an equity method investee company is reduced to zero, no further losses are recorded in the Company’s consolidated financial statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals or exceeds the amount of its share of losses not previously recognized.
Net Income/(Loss) Per Share	Net income/(loss) per share The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.”
Related Parties	Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Foreign Currencies Translation	Foreign currencies translation 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. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiary in Labuan maintains its books and record in United States Dollars (“US$”). In addition, the Company’s subsidiaries in Hong Kong maintain its books and record in its local currency, Hong Kong Dollars (“HKD$”) and Ringgits Malaysia (“RM”) is the functional currency as being the primary currency of the economic environment in which the entity operates. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement” Translation of amounts from RM into US$1 and HKD$ into US$1 have been made at the following exchange rates for the respective periods: As of and for the nine months ended March 31 2018 2017 Period-end RM : US$1 exchange rate 3.86 4.43 Period-average RM : US$1 exchange rate 3.92 4.44 Period-end HKD$ : US$1 exchange rate 7.84 7.77 Period-average HKD$ : US$1 exchange rate 7.82 7.75
Fair Value of Financial Instruments	Fair value of financial instruments: The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures Level 1 Level 2 Level 3
Recent Accounting Pronouncements	Recent accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of Translation Exchange Rates	Translation of amounts from RM into US$1 and HKD$ into US$1 have been made at the following exchange rates for the respective periods: As of and for the nine months ended March 31 2018 2017 Period-end RM : US$1 exchange rate 3.86 4.43 Period-average RM : US$1 exchange rate 3.92 4.44 Period-end HKD$ : US$1 exchange rate 7.84 7.77 Period-average HKD$ : US$1 exchange rate 7.82 7.75

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income/(Loss) Before Income Tax	For the nine months ended March 31, 2018 and 2017, the local (United States) and foreign components of income/(loss) before income taxes were comprised of the following: Nine Months Ended March 31 2018 2017 Tax jurisdictions from: - Local $ (234,166 ) $ - Foreign, representing Labuan, Malaysia (783 ) - Hong Kong 34,436 - Loss before income tax $ (200,513 ) $ -
Schedule of Provision for Income Tax	The provision for income taxes consisted of the following: Nine Months Ended March 31 2018 2017 Current: - Local $ - $ - - Foreign 5,682 - Deferred: - Local - - - Foreign - - Income tax expense $ 5,682 $ -
Schedule of Deferred Tax Assets	The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 (unaudited) (audited) Deferred tax assets: Net operating loss carryforwards - United States of America $ (70,217 ) $ (15,792 ) - Hong Kong - - $ (70,217 ) $ (15,792 ) Less: valuation allowance 70,217 15,792 Deferred tax assets $ - $ -

Prepayment (Tables)

Prepayment (Tables)	9 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepayment	Prepayment consisted of the following at March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 Prepayment $ 5,833 $ - Total prepayment $ 5,833 $ -

Other Payables and Accrued Li22

Other Payables and Accrued Liabilities (Tables)	9 Months Ended
	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Schedule of Other Payables and Accrued Liabilities	Other payables and accrued liabilities consisted of the following at March 31, 2018 and June 30, 2017: As of March 31, 2018 As of June 30, 2017 Accrued audit fees $ 2,000 $ 8,000 Total payables and accrued liabilities $ 2,000 $ 8,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Nine Months Ended March 31, 2018 Nine Months Ended March 31, 2017 Revenue: - Related Party A $ 487,626 $ - Professional Fee: - Related Party B $ 214,883 $ - Company Secretary Fee: - Related Party B $ 292 $ - Trademark Application Fee: - Related Party B $ 510 $ -

Concentrations of Risk (Tables)

Concentrations of Risk (Tables)	9 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Schedule of Concentrations of Risk	For three months ended March 31, 2018 and 2017, the customers who accounted for 10% or more of the Company’s sales and its outstanding receivable balance at period-end are presented as follows: For three months ended March, 31 March, 31 June, 30 2018 2017 2018 2017 2018 2017 Revenues Percentage of revenues Accounts receivable, trade Customer A $ - - - % - $ 52,414 - $ - - - % - $ 52,414 - For nine months ended March 31, 2018 and 2017, the customers who accounted for 10% or more of the Company’s sales and its outstanding receivable balance at period-end are presented as follows: For nine months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Revenues Percentage of revenues Accounts receivable, trade Customer A $ 487,626 - 100 % - $ 52,414 - $ 487,626 - 100 % - $ 52,414 - (b) Major vendors For three months ended March 31, 2018 and 2017, the vendors who accounted for 10% or more of the Company’s purchases and its outstanding payable balance at period-end are presented as follows: For three months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Purchase Percentage of purchases Accounts payable, trade Vendor A $ - - - % - $ - - $ - - - % - $ - - For nine months ended March 31, 2018 and 2017, the vendors who accounted for 10% or more of the Company’s purchases and its outstanding payable balance at period-end are presented as follows: For nine months ended March 31 March 31, June 30, 2018 2017 2018 2017 2018 2017 Purchase Percentage of purchases Accounts payable, trade Vendor A $ 441,972 - 100 % - $ - - $ 441,972 - 100 % - $ - -

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Details Narrative)	Mar. 31, 2018
Minimum [Member]
Investment voting rights percentage	20.00%
Maximum [Member]
Investment voting rights percentage	50.00%

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Schedule of Translation Exchange Rates (Details)	Mar. 31, 2018	Mar. 31, 2017
Period-end RM : US$1 Exchange Rate [Member]
Foreign Currency Exchange Rate Translation	3.86	4.43
Period-average RM : US$1 Exchange Rate [Member]
Foreign Currency Exchange Rate Translation	3.92	4.44
Period-end HKD : US$1 Exchange Rate [Member]
Foreign Currency Exchange Rate Translation	7.84	7.77
Period-average HKD : US$1 Exchange Rate [Member]
Foreign Currency Exchange Rate Translation	7.82	7.75

Common Stock (Details Narrative

Common Stock (Details Narrative) - $ / shares	Mar. 31, 2018	Jun. 30, 2017
Equity [Abstract]
Common stock, shares issued	374,275,500	371,350,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares outstanding	374,275,500	371,350,000
Excess of stock, shares issued	2,925,500
Excess of stock, par value	$ 0.0001
Excess of stock, shares outstanding	2,925,500

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	Dec. 22, 2017	Mar. 31, 2018
Statutory income tax rate	21.00%
Income tax reconciliation description	The Act reduces the US federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign sourced earnings.
United States of America [Member]
Cumulative net operating loss		$ 334,366
Operating loss carryforwards expire year		2,037
Valuation allowance		$ 70,217
Labuan [Member]
Tax percentage		3.00%
Labuan [Member] | RM [Member]
Fixed rate of foreign income tax amount		$ 20,000
Hong Kong [Member]
Statutory income tax rate		16.50%

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income/(Loss) Before Income Tax (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Local			$ (234,166)
Loss before income tax	$ (28,856)		(200,513)
Labuan, Malaysia [Member]
Foreign			(783)
Hong Kong [Member]
Foreign			$ 34,436

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Tax (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Current, Local
Current, Foreign			5,682
Deferred, Local
Deferred, Foreign
Income tax expense			$ 5,682

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Net operating loss carryforwards	$ (70,217)	$ (15,792)
Less: valuation allowance	70,217	15,792
Deferred tax assets
United States of America [Member]
Net operating loss carryforwards	(70,217)	(15,792)
Hong Kong [Member]
Net operating loss carryforwards

Prepayment (Details Narrative)

Prepayment (Details Narrative)	Mar. 31, 2018USD ($)
Prepaid filing fee	$ 2,625
Labuan [Member]
Prepaid secretary amount	$ 3,208

Prepayment - Schedule of Prepay

Prepayment - Schedule of Prepayment (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayment	$ 5,833
Total Prepayment	$ 5,833

Other Payables and Accrued Li34

Other Payables and Accrued Liabilities - Schedule of Other Payables and Accrued Liabilities (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
Accrued audit fees	$ 2,000	$ 8,000
Total payables and accrued liabilities	$ 2,000	$ 8,000

Amount Due to a Director (Detai

Amount Due to a Director (Details Narrative) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Due to related party	$ 3,927	$ 100
Director [Member]
Due to related party	$ 3,827	$ 100

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	Mar. 31, 2018
Related Party B [Member]
Ownership percentage	4.70%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Related Party A [Member]
Revenue	$ 487,626
Related Party B [Member]
Professional fee	214,883
Company secretary fee	292
Trademark Application fee	$ 510

Concentrations of Risk - Schedu

Concentrations of Risk - Schedule of Concentrations of Risk (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Accounts receivable, trade	$ 52,414		$ 52,414
Purchase			441,972
Accounts Payable [Member]
Accounts payable, trade
Vendor A [Member] | Accounts Payable [Member]
Accounts payable, trade
Sales Revenue, Net [Member]
Revenues			$ 487,626
Concentrations of risk percentage	0.00%	0.00%	100.00%	0.00%
Sales Revenue, Net [Member] | Customer A [Member]
Revenues			$ 487,626
Concentrations of risk percentage	0.00%	0.00%	100.00%	0.00%
Accounts Receivable [Member]
Accounts receivable, trade	$ 52,414		$ 52,414
Accounts Receivable [Member] | Customer A [Member]
Accounts receivable, trade	$ 52,414		$ 52,414
Cost of Sales [Member]
Concentrations of risk percentage	0.00%	0.00%	100.00%	0.00%
Purchase			$ 441,972
Cost of Sales [Member] | Vendor A [Member]
Concentrations of risk percentage	0.00%	0.00%	100.00%	0.00%
Purchase			$ 441,972

Concentrations of Risk - Sche39

Concentrations of Risk - Schedule of Concentrations of Risk (Details) (Parenthetical)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Customer [Member]
Concentrations of risk percentage	10.00%	10.00%
Vendor [Member]
Concentrations of risk percentage	10.00%	10.00%

Investment in Investee Company

Investment in Investee Company (Details Narrative) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Investment amount	$ 867,772
Ordinary shares authorized	1,000,000,000	1,000,000,000
Ordinary shares issued	374,275,500	371,350,000
Ordinary shares outstanding	374,275,500	371,350,000
Director [Member]
Investment amount	$ 863,592
Equity interest percentage	20.00%
Ordinary shares authorized	2,500,000
Ordinary shares issued	2,500,000
Ordinary shares outstanding	2,500,000
Director [Member] | MYR [Member]
Investment amount	$ 3,500,000