AsiaFIN (ASFH) 10-Q 15 Jul 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	May 31, 2021shares
Cover [Abstract]
Entity Registrant Name	ASIAFIN HOLDINGS CORP.
Entity Central Index Key	0001828748
Document Type	10-Q
Document Period End Date	May 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	72,482,500
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	May 31, 2021	Aug. 31, 2020
CURRENT ASSETS
Accounts receivable	$ 6,000	$ 18,000
Deposits paid, prepayments and other receivables	1,249	1,249
Cash and cash equivalents	383,411	514,231
Total Current Assets	390,660	533,480
TOTAL ASSETS	390,660	533,480
CURRENT LIABILITIES
Accounts payable	12,600	12,600
Other payables and accrued liabilities	10,000	11,709
Income tax payable	644	644
Total Current Liabilities	23,244	24,953
TOTAL LIABILITIES	23,244	24,953
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common Shares, par value $0.0001; 600,000,000 shares authorized, 72,482,500 shares issued and outstanding as of May 31, 2021 and August 31, 2020	7,248	7,248
Additional paid in capital	576,052	576,052
Share application monies	31,800
Accumulated deficit	(247,684)	(74,773)
TOTAL STOCKHOLDERS' EQUITY	367,416	508,527
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 390,660	$ 533,480

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	May 31, 2021	Aug. 31, 2020
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, issued
Preferred stock, outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	600,000,000	600,000,000
Common stock, issued	72,482,500	72,482,500
Common stock, outstanding	72,482,500	72,482,500

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Losses (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Income Statement [Abstract]
REVENUE			$ 38,000
COST OF REVENUE			(26,600)
GROSS PROFIT			11,400
OTHER INCOME	86	10	13,062	33
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	(22,223)	(1,319)	(197,373)	(17,338)
LOSS BEFORE INCOME TAX	(22,137)	(1,309)	(172,911)	(17,305)
INCOME TAX PROVISION
NET LOSS	(22,137)	(1,309)	(172,911)	(17,305)
OTHER COMPREHENSIVE LOSS
TOTAL COMPREHENSIVE LOSS	$ (22,137)	$ (1,309)	$ (172,911)	$ (17,305)
Net loss per share, basic and diluted:	$ (0.0003)	$ 0	$ (0.0023)	$ (0.0005)
Weighted average number of common shares outstanding - Basic and diluted	72,482,500	68,000,000	72,482,500	31,635,835

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Common Stock [Member]	Paid-In Capital [Member]	Merger Reserve [Member]	Accumulated Losses [Member]	Total
Balance at Jun. 13, 2019	$ 10				$ 10
Balance, shares at Jun. 13, 2019	100,000
Transaction with owner			2		2
Balance at Aug. 31, 2019	$ 10		2		12
Balance, shares at Aug. 31, 2019	100,000
Transaction with owner			(2)		(2)
Net profit (loss) for the period				(16,011)	(16,011)
Balance at Nov. 30, 2019	$ 10			(16,011)	(16,001)
Balance, shares at Nov. 30, 2019	100,000
Balance at Aug. 31, 2019	$ 10		2		12
Balance, shares at Aug. 31, 2019	100,000
Net profit (loss) for the period					(17,305)
Balance at May. 31, 2020	$ 6,800			(17,305)	(10,505)
Balance, shares at May. 31, 2020	68,000,000
Balance at Nov. 30, 2019	$ 10			(16,011)	(16,001)
Balance, shares at Nov. 30, 2019	100,000
Issuance of share capital - founders' shares, value	$ 6,790				6,790
Issuance of share capital - founders' shares	67,900,000
Net profit (loss) for the period				15	15
Balance at Feb. 29, 2020	$ 6,800			(15,996)	(9,196)
Balance, shares at Feb. 29, 2020	68,000,000
Net profit (loss) for the period				(1,309)	(1,309)
Balance at May. 31, 2020	$ 6,800			(17,305)	(10,505)
Balance, shares at May. 31, 2020	68,000,000
Balance at Aug. 31, 2020	$ 7,248	576,052		(74,773)	508,527
Balance, shares at Aug. 31, 2020	72,482,500
Net profit (loss) for the period				3,120	3,120
Balance at Nov. 30, 2020	$ 7,248	576,052		(71,653)	511,647
Balance, shares at Nov. 30, 2020	72,482,500
Balance at Aug. 31, 2020	$ 7,248	576,052		(74,773)	508,527
Balance, shares at Aug. 31, 2020	72,482,500
Net profit (loss) for the period					(172,911)
Balance at May. 31, 2021	$ 7,248	576,052		(247,684)	367,416
Balance, shares at May. 31, 2021	72,482,500
Balance at Nov. 30, 2020	$ 7,248	576,052		(71,653)	511,647
Balance, shares at Nov. 30, 2020	72,482,500
Net profit (loss) for the period				(153,894)	(153,894)
Balance at Feb. 28, 2021	$ 7,248	576,052		(225,547)	357,753
Balance, shares at Feb. 28, 2021	72,482,500
Net profit (loss) for the period				(22,137)	(22,137)
Balance at May. 31, 2021	$ 7,248	$ 576,052		$ (247,684)	$ 367,416
Balance, shares at May. 31, 2021	72,482,500

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May 31, 2021	May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (172,911)	$ (17,305)
Adjustments to reconcile net loss to net cash used in operating activities:
Accounts receivable	12,000
Other payables and accrued liabilities	(1,709)	1,320
Net cash used in operating activities	(162,620)	(15,985)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from director		31,940
Proceeds from IPO shares subscription in advanced	31,800
Proceeds from Share application monies/Unallocated shares		6,788
Net cash provided by financing activities	31,800	38,728
Net increase in cash and cash equivalents	(130,820)	22,743
Cash and cash equivalents, beginning of period	514,231	12
CASH AND CASH EQUIVALENTS, END OF PERIOD	383,411	22,755
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid
Interest paid

Description of Business and Org

Description of Business and Organization	9 Months Ended
	May 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	1. DESCRIPTION OF BUSINESS AND ORGANIZATION ASIAFIN HOLDINGS CORP. was incorporated on June 14, 2019 under the laws of the state of Nevada. The Company, through its subsidiaries, engages in providing market research studies and consultancy services in the Financial Ecosystems. On December 18, 2019, the Company acquired 100% of the equity interests in AsiaFIN Holdings Corp. (herein referred as the “Malaysia Company”), a private limited company incorporated in Labuan, Malaysia. On December 23, 2019, AsiaFIN Holdings Corp., the Malaysia Company acquired 100% of the equity interest of AsiaFIN Holdings Limited (herein referred as the “Hong Kong Company”), a private limited company incorporated in Hong Kong. Details of the Company’s subsidiaries: Company name Place/date of incorporation Particulars of issued capital Principal activities 1. AsiaFIN Holdings Corp. Labuan, July 15, 2019 1 shares of ordinary share of US$ 1 each Investment holding and consulting services pertaining to market studies and financial solutions. 2. AsiaFIN Holdings Limited Hong Kong, July 5, 2019 1 ordinary share of HKD 1 each Consultancy Services on market studies and financial solutions. For purposes of consolidated financial statement presentation, AsiaFIN Holdings Corp. and its subsidiaries are hereinafter referred to as the “Company”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements for AsiaFIN Holdings Corp. and its subsidiaries (‘the Company’) for the nine months ended May 31, 2021 are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of AsiaFIN Holdings Corp. and its wholly owned subsidiaries, AsiaFIN Holdings Corp. and AsiaFIN Holdings Limited. The Company has adopted August 31 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. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. 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. Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the period ended May 31, 2021, the Company suffered net loss of USD 172,911 and had negative operating cash flow of USD162,620. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. Net loss per share The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Foreign currencies translation The reporting and functional currency of the Company and its subsidiaries in Labuan and Hong Kong is United States Dollars (“US$”) which being the primary currency of the economic environment in which these entities operate. 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 statements of operations. Translation of amounts from RM into US$1 and HK$ into US$1 has been made at the following exchange rates for the respective periods: As of and for the period ended May 31, 2021 As of and for the period ended August 31, 2020 Period-end RM : US$1 exchange rate 4.13 4.15 Period-average RM : US$1 exchange rate 4.07 4.15 Period-end HK$: US$1 exchange rate 7.75 7.80 Period-average HK$ : US$1 exchange rate 7.75 7.75 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. Fair value of financial instruments: The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued liabilities 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” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 Level 2 Level 3: Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Common Stock

Common Stock	9 Months Ended
	May 31, 2021
Equity [Abstract]
Common Stock	3. COMMON STOCK As of August 31, 2020 and August 31, 2019, the Company has an issued and outstanding common share of 72,482,500 and 100,000 respectively. As of May 31, 2021, the Company has an issued and outstanding common share of 72,482,500.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	May 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	4. CASH AND CASH EQUIVALENTS As of May 31, 2021, the Company recorded cash and cash equivalents of $383,411 which consists of cash on hand and bank balances.

Accounts Receivable

Accounts Receivable	9 Months Ended
	May 31, 2021
Receivables [Abstract]
Accounts Receivable	5. ACCOUNTS RECEIVABLE Accounts receivable consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accounts receivable $ 6,000 $ 18,000 Total accounts receivable $ 6,000 $ 18,000 As of May 31, 2021 and August 31, 2020, the amount of $6,000 and $18,000 respectively on accounts receivable are related party outstanding balances. The revenue is generated from providing consulting services on market study pertaining to payment processing trends in Asia and also market studies and advisory on user preferences pertaining to payment kiosks in Southeast Asia market.

Deposits Paid, Prepayments and

Deposits Paid, Prepayments and Other Receivables	9 Months Ended
	May 31, 2021
Receivables [Abstract]
Deposits Paid, Prepayments and Other Receivables	6. DEPOSITS PAID, PREPAYMENTS AND OTHER RECEIVABLES Deposits paid, prepayments and other receivables consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Other receivables $ 1,249 $ 1,249 Total deposits paid, prepayments and other receivables $ 1,249 $ 1,249 As of May 31, 2021 and August 31, 2020, there are the same amounts of $1,249 on other receivables which are related party outstanding balances.

Accounts Payable

Accounts Payable	9 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
Accounts Payable	7. ACCOUNTS PAYABLE Accounts payable consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accounts payable $ 12,600 $ 12,600 Total accounts payable $ 12,600 $ 12,600

Other Payables and Accrued Liab

Other Payables and Accrued Liabilities	9 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
Other Payables and Accrued Liabilities	8. OTHER PAYABLES AND ACCRUED LIABILITIES Other payables and accrued liabilities consisted of the following as at May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accrued audit fees 5,000 10,000 Other payables 5,000 1,709 Total other payables and accrued liabilities $ 10,000 $ 11,709

Income Taxes

Income Taxes	9 Months Ended
	May 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	9. INCOME TAXES For the period ended May 31, 2021 and August 31, 2020, the local (United States) and foreign components of loss before income taxes were comprised of the following: Nine months ended Nine months ended Tax jurisdictions from: - Local $ (184,854 ) $ (15,800 ) - Foreign, representing Labuan 1,993 5 Hong Kong 9,950 (1,510 ) Loss before income tax $ (172,911 ) $ (17,305 ) The provision for income taxes consisted of the following: Nine months ended Nine months ended Current: - Local $ - $ - - Foreign - - Deferred: -Local - - -Foreign - - Income tax expense $ - $ - 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 May 31, 2021, the operations in the United States of America incurred $270,380 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carry forwards begin to expire in 2040, if unutilized. The Company has provided for a full valuation allowance of $56,780 against the deferred tax assets on the expected future tax benefits from the net operating loss carry forwards as the management believes it is more likely than not that these assets will not be realized in the future. Labuan Under the current laws of the Labuan, AsiaFIN Holdings Corp. is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of net audited profit. Hong Kong AsiaFIN Holdings Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of 8.25% to 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 May 31, 2021 and August 31, 2020: Nine months ended Nine months ended Deferred tax assets: Net operating loss carry forwards -United States of America $ (56,780 ) $ (3,318 ) -Labuan - - -Hong Kong - - $ (56,780 ) $ (3,318 ) Less: valuation allowance 56,780 3,318 Deferred tax assets $ - $ -

Related Party Transactions

Related Party Transactions	9 Months Ended
	May 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	10. RELATED PARTY TRANSACTIONS Nine months ended Nine months ended Insite MY Systems Sdn Bhd 1 -Revenue $ (17,000 ) $ - GLS IT Solutions Sdn Bhd 1 -Revenue $ (21,000 ) $ - SEATech Ventures (HK) Limited 2 -Consultation fee $ 167,200 $ - 1 2

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. COMMITMENTS AND CONTINGENCIES As of May 31, 2021, the Company has no commitments or contingencies involved.

Concentrations of Risk

Concentrations of Risk	9 Months Ended
	May 31, 2021
Risks and Uncertainties [Abstract]
Concentrations of Risk	12. CONCENTRATIONS OF RISK The Company is exposed to the following concentration of risk: (a) Major customers For the period/year ended May 31, 2021 and August 31, 2020, the customers who accounted for 10% or more of the Company’s revenues and its accounts receivable balance at year/period-end are presented as follows: As of As of August 31, 2020 As of As of August 31, 2020 As of As of August 31, 2020 Revenues Percentage of revenues Accounts receivable Customer A $ 17,000 $ 11,000 45 % 61 % $ - 11,000 Customer B $ 21,000 $ 7,000 55 % 39 % $ 6,000 7,000 $ 38,000 $ 18,000 100 % 100 % $ 6,000 18,000 Customer A is Insite MY Systems Sdn Bhd, and Customer B is GLS IT Solutions Sdn Bhd. Both Customer A and Customer B are related parties. Mr. Wong, Kai Cheong, our Chief Executive Officer, is the Director of Insite MY Systems Sdn Bhd while Mr. Seah, Kok Wah, our Director, is the Director of GLS IT Solutions Sdn Bhd. The services provided to the aforementioned customers pertained to providing consulting services relating to market studies of payment processing trends in Asia, and also market studies and advisory pertaining to unattended payment kiosk user preferences in the Southeast Asia market. There were no other contracts with these customers for additional services. (b) Major vendors For the period/year ended May 31, 2021 and August 31, 2020, the vendors who accounted for 10% or more of the Company’s purchases and its accounts payable balance at year/period-end are presented as follows: As of 2021 As of August 31, 2020 As of 2021 As of August 31, 2020 As of 2021 As of August 31, 2020 Purchases Percentage of purchases Accounts payable Vendor A $ 11,900 $ 7,700 45 % 61 % $ 8,400 7,700 Vendor B $ 14,700 $ 4,900 55 % 39 % $ 14,700 4,900 $ 26,600 $ 12,600 100 % 100 % $ 23,100 12,600 Vendor A provides market research and surveys pertaining to payment process trends in Asia, and Vendor B provides us analytic tools to facilitate market research pertaining to payment kiosks as well as market surveys of the urban areas in which the kiosks are currently located, or may be installed in the future. The vendors are unrelated third parties. (c) Credit risk Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its account receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. (d) Exchange rate risk The Company cannot guarantee that the current exchange rate will remain stable, therefore there is a possibility that the Company could post the same amount of income for two comparable periods and because of the fluctuating exchange rate actually post higher or lower income depending on exchange rate of RM or HKD converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

Significant Events

Significant Events	9 Months Ended
	May 31, 2021
Significant Events
Significant Events	13. SIGNIFICANT EVENTS During the fiscal year, the World Health Organization declared the Coronavirus (COVID-19) outbreak to be a pandemic, which has caused severe global social and economic disruptions and uncertainties, including markets where the Company operates. The consequences brought about by Covid-19 continue to evolve and whilst the Company actively monitoring and managing its operations to respond to these changes, the Company does not consider it practicable to provide any quantitative estimate on the potential impact it may have on the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	May 31, 2021
Subsequent Events [Abstract]
Subsequent Events	14. SUBSEQUENT EVENTS The Company has evaluated subsequent events that occurred after May 31, 2021 up through the date of July 15, 2021, the Company issued audited consolidated financial statements in accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. During this period, there was no subsequent event that required recognition or disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The consolidated financial statements for AsiaFIN Holdings Corp. and its subsidiaries (‘the Company’) for the nine months ended May 31, 2021 are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of AsiaFIN Holdings Corp. and its wholly owned subsidiaries, AsiaFIN Holdings Corp. and AsiaFIN Holdings Limited. The Company has adopted August 31 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.
Cash and Cash Equivalents	Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
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.
Going Concern	Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the period ended May 31, 2021, the Company suffered net loss of USD 172,911 and had negative operating cash flow of USD162,620. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.
Net Loss Per Share	Net loss per share The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.”
Foreign Currencies Translation	Foreign currencies translation The reporting and functional currency of the Company and its subsidiaries in Labuan and Hong Kong is United States Dollars (“US$”) which being the primary currency of the economic environment in which these entities operate. 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 statements of operations. Translation of amounts from RM into US$1 and HK$ into US$1 has been made at the following exchange rates for the respective periods: As of and for the period ended May 31, 2021 As of and for the period ended August 31, 2020 Period-end RM : US$1 exchange rate 4.13 4.15 Period-average RM : US$1 exchange rate 4.07 4.15 Period-end HK$: US$1 exchange rate 7.75 7.80 Period-average HK$ : US$1 exchange rate 7.75 7.75
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.
Fair Value of Financial Instruments	Fair value of financial instruments: The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued liabilities 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” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 Level 2 Level 3:
Recent Accounting Pronouncements	Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Description of Business and O_2

Description of Business and Organization (Tables)	9 Months Ended
	May 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Subsidiaries	Details of the Company’s subsidiaries: Company name Place/date of incorporation Particulars of issued capital Principal activities 1. AsiaFIN Holdings Corp. Labuan, July 15, 2019 1 shares of ordinary share of US$ 1 each Investment holding and consulting services pertaining to market studies and financial solutions. 2. AsiaFIN Holdings Limited Hong Kong, July 5, 2019 1 ordinary share of HKD 1 each Consultancy Services on market studies and financial solutions.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Schedule of Foreign Exchange Rate	Translation of amounts from RM into US$1 and HK$ into US$1 has been made at the following exchange rates for the respective periods: As of and for the period ended May 31, 2021 As of and for the period ended August 31, 2020 Period-end RM : US$1 exchange rate 4.13 4.15 Period-average RM : US$1 exchange rate 4.07 4.15 Period-end HK$: US$1 exchange rate 7.75 7.80 Period-average HK$ : US$1 exchange rate 7.75 7.75

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	May 31, 2021
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accounts receivable $ 6,000 $ 18,000 Total accounts receivable $ 6,000 $ 18,000

Deposits Paid, Prepayments an_2

Deposits Paid, Prepayments and Other Receivables (Tables)	9 Months Ended
	May 31, 2021
Receivables [Abstract]
Schedule of Deposits Paid, Prepayments and Other Receivables	Deposits paid, prepayments and other receivables consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Other receivables $ 1,249 $ 1,249 Total deposits paid, prepayments and other receivables $ 1,249 $ 1,249

Accounts Payable (Tables)

Accounts Payable (Tables)	9 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable	Accounts payable consisted of the following as of May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accounts payable $ 12,600 $ 12,600 Total accounts payable $ 12,600 $ 12,600

Other Payables and Accrued Li_2

Other Payables and Accrued Liabilities (Tables)	9 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
Schedule of Other Payables and Accrued Liabilities	Other payables and accrued liabilities consisted of the following as at May 31, 2021 and August 31, 2020. As of As of August 31, 2020 Accrued audit fees 5,000 10,000 Other payables 5,000 1,709 Total other payables and accrued liabilities $ 10,000 $ 11,709

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	May 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Loss Before Income Taxes	For the period ended May 31, 2021 and August 31, 2020, the local (United States) and foreign components of loss before income taxes were comprised of the following: Nine months ended Nine months ended Tax jurisdictions from: - Local $ (184,854 ) $ (15,800 ) - Foreign, representing Labuan 1,993 5 Hong Kong 9,950 (1,510 ) Loss before income tax $ (172,911 ) $ (17,305 )
Schedule of Provision for Income Taxes	The provision for income taxes consisted of the following: Nine months ended Nine months ended Current: - Local $ - $ - - Foreign - - Deferred: -Local - - -Foreign - - Income tax expense $ - $ -
Schedule of Components of Aggregate Deferred Tax Assets	The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of May 31, 2021 and August 31, 2020: Nine months ended Nine months ended Deferred tax assets: Net operating loss carry forwards -United States of America $ (56,780 ) $ (3,318 ) -Labuan - - -Hong Kong - - $ (56,780 ) $ (3,318 ) Less: valuation allowance 56,780 3,318 Deferred tax assets $ - $ -

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	May 31, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Nine months ended Nine months ended Insite MY Systems Sdn Bhd 1 -Revenue $ (17,000 ) $ - GLS IT Solutions Sdn Bhd 1 -Revenue $ (21,000 ) $ - SEATech Ventures (HK) Limited 2 -Consultation fee $ 167,200 $ - 1 2 SEATech Ventures (HK) Limited, through its wholly owned subsidiary of SEATech Ventures Corp. is a 13.8% shareholder of the Company.

Concentrations of Risk (Tables)

Concentrations of Risk (Tables)	9 Months Ended
	May 31, 2021
Customer Concentration Risk [Member]
Schedule of Concentration of Risk	The Company is exposed to the following concentration of risk: (a) Major customers For the period/year ended May 31, 2021 and August 31, 2020, the customers who accounted for 10% or more of the Company’s revenues and its accounts receivable balance at year/period-end are presented as follows: As of As of August 31, 2020 As of As of August 31, 2020 As of As of August 31, 2020 Revenues Percentage of revenues Accounts receivable Customer A $ 17,000 $ 11,000 45 % 61 % $ - 11,000 Customer B $ 21,000 $ 7,000 55 % 39 % $ 6,000 7,000 $ 38,000 $ 18,000 100 % 100 % $ 6,000 18,000
Supplier Concentration Risk [Member]
Schedule of Concentration of Risk	(b) Major vendors For the period/year ended May 31, 2021 and August 31, 2020, the vendors who accounted for 10% or more of the Company’s purchases and its accounts payable balance at year/period-end are presented as follows: As of 2021 As of August 31, 2020 As of 2021 As of August 31, 2020 As of 2021 As of August 31, 2020 Purchases Percentage of purchases Accounts payable Vendor A $ 11,900 $ 7,700 45 % 61 % $ 8,400 7,700 Vendor B $ 14,700 $ 4,900 55 % 39 % $ 14,700 4,900 $ 26,600 $ 12,600 100 % 100 % $ 23,100 12,600

Description of Business and O_3

Description of Business and Organization (Details Narrative)	Dec. 23, 2019	Dec. 18, 2019
AsiaFIN Holdings Corp (Malaysia) [Member]
Percentage of equity interests acquired		100.00%
AsiaFIN Holdings Limited (Hong Kong) [Member]
Percentage of equity interests acquired	100.00%

Description of Business and O_4

Description of Business and Organization - Schedule of Subsidiaries (Details) - $ / shares	9 Months Ended
	May 31, 2021	Aug. 31, 2020	Aug. 31, 2019
Common stock, issued	72,482,500	72,482,500	100,000
Common stock, par value	$ 0.0001	$ 0.0001
AsiaFIN Holdings Corp (Malaysia) [Member]
Place/date of incorporation	Labuan, July 15, 2019
Common stock, issued	1
Common stock, par value	$ 1
Principal activities	Investment holding and consulting services pertaining to market studies and financial solutions.
AsiaFIN Holdings Limited (Hong Kong) [Member]
Place/date of incorporation	Hong Kong, July 5, 2019
Common stock, issued	1
Principal activities	Consultancy Services on market studies and financial solutions.
AsiaFIN Holdings Limited (Hong Kong) [Member] | HKD [Member]
Common stock, par value	$ 1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	May 31, 2021	May 31, 2020
Accounting Policies [Abstract]
Net loss	$ (22,137)	$ (153,894)	$ 3,120	$ (1,309)	$ 15	$ (16,011)	$ (172,911)	$ (17,305)
Negative operating cash flow							$ (162,620)	$ (15,985)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Foreign Exchange Rate (Details)	May 31, 2021	Aug. 31, 2020
Period-end RM [Member]
Exchange rate	4.13	4.15
Period-average RM [Member]
Exchange rate	4.07	4.15
Period-end HK [Member]
Exchange rate	7.75	7.80
Period-average HK [Member]
Exchange rate	7.75	7.75

Common Stock (Details Narrative

Common Stock (Details Narrative) - shares	May 31, 2021	Aug. 31, 2020	Aug. 31, 2019
Equity [Abstract]
Common stock, issued	72,482,500	72,482,500	100,000
Common stock, outstanding	72,482,500	72,482,500	100,000

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details Narrative) - USD ($)	May 31, 2021	Aug. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 383,411	$ 514,231

Accounts Receivable (Details Na

Accounts Receivable (Details Narrative) - USD ($)	May 31, 2021	Aug. 31, 2020
Receivables [Abstract]
Accounts receivable related party	$ 6,000	$ 18,000

Accounts Receivable - Schedule

Accounts Receivable - Schedule of Accounts Receivable (Details) - USD ($)	May 31, 2021	Aug. 31, 2020
Receivables [Abstract]
Accounts receivable	$ 6,000	$ 18,000
Total accounts receivable	$ 6,000	$ 18,000

Deposits Paid, Prepayments an_3

Deposits Paid, Prepayments and Other Receivables (Details Narrative) - USD ($)	May 31, 2021	Aug. 31, 2020
Receivables [Abstract]
Other receivables related party	$ 1,249	$ 1,249

Deposits Paid, Prepayments an_4

Deposits Paid, Prepayments and Other Receivables - Schedule of Deposits Paid, Prepayments and Other Receivables (Details) - USD ($)	May 31, 2021	Aug. 31, 2020
Receivables [Abstract]
Other receivables	$ 1,249	$ 1,249
Total deposits paid, prepayments and other receivables	$ 1,249	$ 1,249

Accounts Payable - Schedule of

Accounts Payable - Schedule of Accounts Payable (Details) - USD ($)	May 31, 2021	Aug. 31, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 12,600	$ 12,600
Total accounts payable	$ 12,600	$ 12,600

Other Payables and Accrued Li_3

Other Payables and Accrued Liabilities - Schedule of Other Payables and Accrued Liabilities (Details) - USD ($)	May 31, 2021	Aug. 31, 2020
Payables and Accruals [Abstract]
Accrued audit fees	$ 5,000	$ 10,000
Other payables	5,000	1,709
Total other payables and accrued liabilities	$ 10,000	$ 11,709

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	9 Months Ended
	May 31, 2021USD ($)
Cumulative net operating losses	$ 270,380
Valuation allowance	$ 56,780
Labuan [Member]
Statutory income rate	3.00%
Hong Kong [Member] | Minimum [Member]
Statutory income rate	8.25%
Hong Kong [Member] | Maximum [Member]
Statutory income rate	16.50%

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Loss before income tax	$ (22,137)	$ (1,309)	$ (172,911)	$ (17,305)
United States [Member]
Loss before income tax			(184,854)	(15,800)
Labuan [Member]
Loss before income tax			1,993	5
Hong Kong [Member]
Loss before income tax			$ 9,950	$ (1,510)

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Income Tax Disclosure [Abstract]
Current Local
Current Foreign
Deferred Local
Deferred Foreign
Income tax expense

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Aggregate Deferred Tax Assets (Details) - USD ($)	May 31, 2021	May 31, 2020
Net operating loss carry forwards - United States of America	$ (56,780)	$ (3,318)
Gross deferred tax assets	(56,780)	(3,318)
Less: valuation allowance	56,780	3,318
Deferred tax assets
Labuan [Member]
Net operating loss carry forwards - Foreign
Hong Kong [Member]
Net operating loss carry forwards - Foreign

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($)		9 Months Ended
		May 31, 2021	May 31, 2020
Insite MY Systems Sdn Bhd [Member]
Revenue	[1]	$ (17,000)
GLS IT Solutions Sdn Bhd [Member]
Revenue	[1]	(21,000)
SEATech Ventures (HK) Limited [Member]
Consultation fee	[2]	$ 167,200
[1]	Mr. Wong, Kai Cheong, our Chief Executive Officer, is the Director of Insite MY Systems Sdn Bhd while Mr. Seah, Kok Wah, our Director, is the Director of GLS IT Solutions Sdn Bhd and SEATech Ventures Corp.
[2]	SEATech Ventures (HK) Limited, through its wholly owned subsidiary of SEATech Ventures Corp. is a 13.8% shareholder of the Company.

Related Party Transactions - _2

Related Party Transactions - Schedule of Related Party Transactions (Details) (Parenthetical)	May 31, 2021
SEATech Ventures Corp [Member] | SEATech Ventures (HK) Limited [Member]
Ownership percentage	13.80%

Concentrations of Risk - Schedu

Concentrations of Risk - Schedule of Concentration of Risk (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Aug. 31, 2020
Revenues			$ 38,000
Accounts receivable	6,000		6,000		$ 18,000
Accounts payable	12,600		12,600		12,600
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Revenues			$ 38,000		$ 18,000
Percentage of concentration			100.00%		100.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Revenues			$ 17,000		$ 11,000
Percentage of concentration			45.00%		61.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Revenues			$ 21,000		$ 7,000
Percentage of concentration			55.00%		39.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Accounts receivable	6,000		$ 6,000		$ 18,000
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Accounts receivable					11,000
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Accounts receivable	6,000		$ 6,000		$ 7,000
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member]
Percentage of concentration			100.00%		100.00%
Purchases			$ 26,600		$ 12,600
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Vendor A [Member]
Percentage of concentration			45.00%		61.00%
Purchases			$ 11,900		$ 7,700
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Vendor B [Member]
Percentage of concentration			55.00%		39.00%
Purchases			$ 14,700		$ 4,900
Accounts Payable [Member] | Supplier Concentration Risk [Member]
Accounts payable	23,100		23,100		12,600
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Vendor A [Member]
Accounts payable	8,400		8,400		7,700
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Vendor B [Member]
Accounts payable	$ 14,700		$ 14,700		$ 4,900