UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

☒	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For The Fiscal Year Ended December 31, ~~2023~~2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File Number 333-230479

SEATECH VENTURES CORP.

(Exact name of registrant issuer as specified in its charter)

Nevada

61-1882326

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

11-05 & 11-06, Tower A, Avenue 3 Vertical Business Suite,

Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia.

(Address of principal executive offices, including zip code)

Registrant’s phone number, including area code +603 2242 1288

Securities registered pursuant to Section 12(b) of the Securities Exchange Act: None

Securities registered pursuant to Section 12(g) of the Securities Exchange Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES ☐ NO ☒

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller reporting company ☒ Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		SEAV		The OTC Market – Pink Sheets

The aggregate market value of the Company’s common stock held by non-affiliates computed by reference to the closing bid price of the Company’s common stock, as of the last business day of the registrant’s most recently completed second fiscal quarter:

Not Applicable

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Not Applicable

APPLICABLE ONLY TO CORPORATE REGISTRANTS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class		Outstanding at ~~May~~April 1015, ~~2024~~2025
Common Stock, $.0001 par value		~~114~~92,~~351~~519,~~503~~843

SEATech Ventures Corp.

FORM 10-K

For the Fiscal Year Ended December 31, ~~2023~~2024

Index

		Page #
PART I
Item 1.	Business	2
Item 1A.	Risk Factors	11
Item 1B.	Unresolved Staff Comments	11
Item 1C.	Cybersecurity	11
Item 2.	Properties	11
Item 3.	Legal Proceedings	11
Item 4.	Mine Safety Disclosure	11
PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	12
Item 6.	Selected Financial Data	13
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	1816
Item 8.	Financial Statements and Supplementary Data	1816
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	1816
Item 9A.	Controls and Procedures	1816
Item 9B.	Other Information	2018
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	2018
Item 11.	Executive Compensation	2523
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	2725
Item 13.	Certain Relationships and Related Transactions, and Director Independence	2826
Item 14.	Principal Accounting Fees and Services	3129
PART IV
Item 15.	Exhibits, Financial Statement Schedules	3230
SIGNATURES		3331

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “foresee,” “estimate” and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. These risks and uncertainties include the following:

	●	The availability and adequacy of our cash flow to meet our requirements;

	●	Economic, competitive, demographic, business and other conditions in our local and regional markets;

	●	Changes or developments in laws, regulations or taxes in our industry;

	●	Actions taken or omitted to be taken by third parties including our suppliers and competitors, as well as legislative, regulatory, judicial and other governmental authorities;

	●	Competition in our industry;

	●	The loss of or failure to obtain any license or permit necessary or desirable in the operation of our business;

	●	Changes in our business strategy, capital improvements or development plans;

	●	The availability of additional capital to support capital improvements and development; and

	●	Other risks identified in this report and in our other filings with the Securities and Exchange Commission or the SEC.

This report should be read completely and with the understanding that actual future results may be materially different from what we expect. The forward looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Defined Terms

Except as otherwise indicated by the context, references in this Report to:

	●	The “Company,” “we,” “us,” “our,” “SEATech” and similar references refer to SEATech Ventures Corp. and its subsidiaries.

	●	“Common Stock” refers to the common stock, par value $.0001, of the Company;

	●	“U.S. dollar,” “$” and “US$” refer to the legal currency of the United States;

	●	“Securities Act” refers to the Securities Act of 1933, as amended; and

	●	“Exchange Act” refers to the Securities Exchange Act of 1934, as amended.

PART I

ITEM 1. BUSINESS

Corporate History

SEATech Ventures Corp., a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on April 2, 2018.

On May 2, 2018, the Company acquired 100% interest in SEATech Ventures Corp., a private limited liability company incorporated in Labuan, Malaysia.

On ~~December~~ December 21, 2018, SEATech Ventures Corp., the Malaysia Company acquired 100% interest in SEATech Ventures (HK) Limited, a private limited ~~company~~ company incorporated in Hong Kong.

On October 04, 2021, SEATech Ventures (HK) Limited subscribed 60% of the equity interests in SEATech Bigorange CVC Sdn. Bhd., a private limited company incorporated in Malaysia. The Malaysia Company changed its company name to SEATech CVC Sdn. Bhd. on February 22, 2022. On February 25, 2022, SEATech Ventures (HK) Limited further acquired 40% of the equity interests in SEATech CVC Sdn. Bhd., which in turn owns 100% of the equity interests in the Malaysia company.

On January 03, 2022, SEATech Ventures (HK) Limited acquired 1 share, representing 100% equity interest of SEATech Ventures Sdn. Bhd., a Malaysia company, from the Chief Executive Officer, President, Secretary, Treasurer, Director, Mr. Chin Chee Seong, with consideration of MYR 1.

The Company, through its subsidiaries, mainly provides incubation and corporate development services to the clients. Details of the Company’s subsidiaries:

Company name

Place and date of incorporation

Particulars of issued capital

Principal activities

Proportional of ownership interest and voting power held

SEATech Ventures Corp.

Labuan / March 12, 2018

100 ordinary shares of US$1 each

Investment holding

100

SEATech Ventures (HK) Limited

Hong Kong / January 30, 2018

1 ordinary share of HK$1

Business mentoring, nurturing and incubation, and corporate development advisory services

100

SEATech CVC Sdn. Bhd. (F.K.A. SEATech Bigorange CVC Sdn. Bhd.)

Malaysia / October 04, 2021

20,000 ordinary shares of MYR1 each

Dormant company

100

SEATech Ventures Sdn. Bhd.

Malaysia / May 27, 2021

1 ordinary share of MYR1 each

Provision of corporate advisory services

100

Business Overview

SEATech Group principal activity is to provide business mentoring services, nurturing and incubation services relating to client businesses and corporate development advisory services to entrepreneurs in the broader technology industry, but with a specific focus on the information and communication technology industry. We will primarily focus our efforts on nurturing ICT entrepreneurs in Asia. Our advisory services mainly will center on our “ICT Start-Up Mentorship Program”, which is designed to assist tech-based entrepreneurs in solving ICT industry pain points caused by technical insufficiencies, inappropriate financial modelling and weak strategic positioning within a competitive environment. The program aims to improve the technical exposure of our clients and to improve their sustainability in the ICT industry community through a combination of mentorship programs. Currently, our clients are mainly Malaysia based ICT companies with future prospects in other ASIAN countries.

Further as part of our expansion plan, on September 20, 2022 Greenpro Capital Corp., a related party (NASDAQ: GRNQ) appointed SEATech Ventures (HK) Limited as a listing sponsor to engage potential token issuers to list on Green-X, the World’s first Shariah-Compliant ESG (environment, social and governance) Digital Asset Exchange (“DAX”) in Labuan, Malaysia. According to global consulting firm BCG, the asset tokenization market will grow 50 times from US$310 billion in this year, to US$16.1 trillion by 2030, driven by demand from a wide range of investors for greater access to private markets (Source: World Economic Forum – Global Agenda Council, BCG Analysis). As a DAX listing sponsor, SEATech Ventures (HK) Limited focus on digital/physical asset-backed companies in the STO (security token offering) listing on Green-X.

ICT Industry in Asia

The ICT industry in Asia continues to show significant expansion and vitality, especially in the realms of the Internet of Things (IoT) and robotics. This growth is predominantly fueled by major manufacturing sectors in countries like China. The strategic deployment of these technologies address some of Asia’s crucial challenges such as aging populations and labor shortages, as exemplified by Japan’s integration of robotics.

Smart city initiatives are becoming increasingly prominent across Asia, spurred by high mobile device penetration. This technological leap allows several Asian countries to skip traditional infrastructural phases and adopt more advanced solutions directly. Despite these advancements, the broad adoption of transformative software solutions remains a considerable challenge that could drive deeper economic impacts if resolved1.

Economically, the influence of IoT is profound, with its expansion in sectors like manufacturing and transportation helping to propel new technology revenues toward the $1 trillion mark annually. Forecasts indicate that emerging technologies such as robotics, drones, AR/VR headsets, and their associated software and services are set to experience substantial growth. Specifically, the IoT market in Asia is expected to reach about $398 billion by 2025, according to a report by GlobalData.

The robotics market in Asia is also on a rapid ascent, anticipated to exceed $130 billion by 2025, driven by industrial and service sector applications, according to the International Federation of Robotics. Meanwhile, the AR and VR market in Asia could see revenues hitting $70.8 billion by 2024, driven by increasing demand in gaming, training, and industrial applications.

Looking to the future, the next three years are poised to see a dynamic shift as the ICT sector gears up for a new growth surge. Businesses are moving from prototyping to broader deployment of cutting-edge technologies such as augmented reality devices and AI-powered robots. This transition underscores the promising outlook for Asia’s ICT industry, positioning it as a global leader in technology adoption and innovation. This period of robust technological advancement and economic contribution paints a promising future for the ICT sector across Asia.

Sources:

IDC Corporate USA: https://www.idc.com/promo/global-ict-spending/regional-markets

GlobalData Report Store: https://www.globaldata.com/data/

1. IDC Corporate USA; see the section titled “New Technologies:”

ICT Industry – Hong Kong

Hong Kong’s role as a leading business center in the Asia region can be evidenced by its advanced telecommunications infrastructure. According to the IMD World Digital Competitiveness Ranking 2022, as published by the IMD World Competitiveness Centre, Hong Kong was ranked third in Asia and ninth in the world.

The industry of information and communications in Hong Kong had generated HK$95.6 billion (US$12.3 billion) of value added in 2021, contributing to 3.3% of GDP. In term of industry data, Hong Kong had household broadband penetration rate at 99.5% (as at April 2022). The Hong Kong Internet connection speeds are among the highest in the world, according to the Office of the Communication Authority.

The Hong Kong government has implemented various initiatives aimed at promoting the development of the ICT industry. These initiatives encompass funding support, infrastructure development, international collaboration, and workforce training. Specifically outlined in the Smart City Blueprint 2.0, adopted in December 2020, are over 130 initiatives aimed at enhancing public convenience. The objective is to help residents of Hong Kong grasp the advantages that innovation and technology in smart city endeavors will offer in their everyday lives.

The Hong Kong government’s Innovation and Technology Fund (ITF) has provided an alternative source of funding for the IT industry to support R&D development, facilitate technology adoption, nurture technology talent, support technology start-ups, and foster an I&T culture. As of end-February 2024, the ITF had approved 68,668 funding applications on projects with a total of HK$ 40.8 billion. Last but not least, Hong Kong has a large pool of skilled ICT professionals, providing services to clients spanning a wide range of businesses. According to 2022 Manpower Survey Report, as of April 2022, 112,425 people (including freelancers) were working in ICT-related fields in Hong Kong, accounting for 2.99% of the labor force.3

3The Hong Kong government’s Innovation and Technology Fund (ITF) has provided an alternative source of funding for the IT industry to support R&D development, facilitate technology adoption, nurture technology talent, support technology start-ups, and foster an I&T culture. As of end-February 2024, the ITF had approved 68,668 funding applications on projects with a total of HK$ 40.8 billion. Last but not least, Hong Kong has a large pool of skilled ICT professionals, providing services to clients spanning a wide range of businesses. According to 2022 Manpower Survey Report, as of April 2022, 112,425 people (including freelancers) were working in ICT-related fields in Hong Kong, accounting for 2.99% of the labor force.

Sources:

Hong Kong Trade Development Council:

https://research.hktdc.com/en/article/MzExMTUwMDAy#:~:text=Indeed%2C%20excellence%20in%20the%20telecommunications,3.3%25%20of%20Hong%20Kong’s%20GDP

Innovation and Technology Sector Manpower Survey Report:

https://manpower-survey.vtc.edu.hk/f/publication/13887/Manpower%20Survey%20Report%20for%20Innovation%20and%20Technology%20Sector.pdf

ICT Industry in ASEAN

The IT spending market in Southeast Asia is projected to rise to USD 33.97 trillion between 2021 and 2026, with an accelerated growth rate of 8.4% annually. The hardware segment, driven by increased mobile device usage like smartphones and tablets, will notably contribute to revenue growth. This segment is expected to maintain steady growth due to the rising adoption of VoLTE and 4G standards, prompting consumers to upgrade their phones. In addition, significant investments by telecommunication operators in 4G and 5G infrastructure will further boost growth in the hardware segment of the IT spending market in Southeast Asia2.

Southeast Asia’s digital economies are set to reach $218 billion in total value of transactions this year, jumping 11% from a year ago despite global macroeconomic headwinds, a new report by Google, Temasek and Bain & Company revealed.

In 2023, the digital economy in Southeast Asia generated $100 billion in revenue, growing at a compound annual growth rate (CAGR) of 27% since 2021, which is 1.7 times faster than the growth of gross merchandise value (GMV). E-commerce, travel, transport, and media sectors contributed $70 billion in revenue. Notably, this focus on revenue generation has not compromised consumer engagement or the growth of GMV, which still increased by 11% to $218 billion in 2023. Travel and transport sectors are projected to surpass pre-pandemic levels in 2024, while e-commerce continues to exhibit resilience, driven by heightened competition.

Sources:

2. Source: https://www.prnewswire.com/news-releases/it-spending-market-size-in-southeast-asia-to-grow-by-usd-33-97-trillion-hardware-segment-to-be-significant-for-revenue-generation~~---~~—technavio-301598739.html

ICT Industry in Malaysia

The Information and Communication Technology (ICT) industry has grown significantly and is expected to grow continuously. The size of the Malaysian ICT market is projected to be USD 25.29 billion in 2024 and is projected to increase at a Compound Annual Growth Rate (CAGR) of 7.57% to USD 39.18 billion by year 2029. The main factor of this rise is the increasing in digitalization among most significant industrial sectors, which also includes the creation and application of 5G technology3.

The rapid growth of Malaysia’s ICT industry is supported by programs such as the MyDIGITAL initiative, which is a component of the Malaysia Digital Economy Blueprint. By 2030, this initiative is intended to make Malaysia a high-income, digitally driven country and a leader in the digital economy in the region4. Malaysia’s potential as a regional data hub have been enhanced by the government’s Cloud First strategy under MyDIGITAL. To To further advance this goal, the Malaysian government’s approach to cybersecurity, data systems integration, and emerging digital technologies is essential. To improve Malaysia’s cybersecurity measures, the government has allocated US$434 million through the ~~launch~~ launch of the Malaysia Cyber Security Strategy (MCSS). The International Trade Administration states that this strategy emphasizes on ~~the~~ the significance of cybersecurity in protecting organizations as they move towards digital platforms5.

The ICT sector in Malaysia is strategically positioned, offering significant opportunities in smart city technologies. Smart city development in the country harnesses cutting-edge technologies such as 5G, IoT, big data, cloud computing, and AI to enhance services, improve efficiency, and bolster economic productivity while prioritizing sustainability. These advancements not only reshape the ICT landscape but also position Malaysia for a prominent role in the future global economy. Overall, Malaysia’s ICT sector is rapidly evolving, driven by digitalization, government initiatives, and technological progress, making it a vital contributor to the nation’s GDP and socio-economic development.

Sources:

3. https://www.mordorintelligence.com/industry-reports/malaysia-ict-market.

4. Source: https://www.pwc.com/my/en/publications/2021/pwc-annual-report-2021/client/national-mydigital-initiative.html

5. Source: https://www.trade.gov/market-intelligence/malaysia-cybersecurity

ICT Industry in Indonesia

The Indonesia ICT market was valued at US$ 36.90 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 17.09% to reach a value of US$ 81.21 billion by 2027. The cumulative revenue generation for ICT providers in Indonesia is estimated at US$ 334.96 billion for 2022-20276. Indonesia leads Southeast Asia’s digital economy contribution with the largest share of 42% or $691.8 billion7.

Indonesia’s ICT industry focuses on their Software-as-a-Service (SaaS) and cloud computing, providing solution such as data analytics, data center management and managed services. Indonesia is at a pivotal point in its digitalization journey. Cloud adoption is primarily focused on making existing business processes more efficient and productive, but this will change over time as SaaS solutions become vital to building new business and innovations. Cloud-based solutions will also be essential to leveraging technologies like AI, which is widely seen as a major driver of future economic growth.

Generative AI on the other hand is projected to bring US$4.4 trillion in value to the global economy8. By 2025, it is estimated that Indonesia’s digital economy will increase GDP by USD 150 billion. To achieve this, the Indonesian government is carrying out a significant infrastructure development. As part of the digital transformation, the government has launched a number of national initiatives, such as Go Digital Vision 2020, e-smart IKM, and the 100 Smart City Movement.

The Telkom Indonesia group of companies announced in July 2022 that it has partnered with Edgecore, a leading provider of network solutions, to open a demonstration lab in Indonesia that will enable open, disaggregated solutions. Edgecore expressed its strong support for open networking by offering to sponsor and participate in the Indonesian demonstration lab. NTT Indonesia also announced the opening of a high-tech data center in Jakarta. To serve the expanding digital economy in Southeast Asia, NTT launched the biggest data center in Indonesia, expanding its hyperscale data center presence there9.

Sources:

6. Source: https://www.globaldata.com/store/report/indonesia-ict-market-analysis/#:~:text=The%20Indonesia%20ICT%20market%20was,334.96%20billion%20for%202022%2D2027

7. Source: https://www.asiabiztoday.com/2024/01/30/indonesia-leads-se-asias-digital-economy-contribution-with-42-gva-says-unafinancial-study/#:~:text=Indonesia%20accounted%20for%20the%20largest,%25)%20and%20Brunei%20(0.1%25)

8. Source: https://www.techinasia.com/5-reasons-saas-adoption-indonesia-accelerating

9. Source: https://www.mordorintelligence.com/industry-reports/indonesia-ict-market

ICT Industry in Thailand

The Thailand ICT market size was shown to be over $19 billion in 2022 and is expected to grow at a CAGR of more than 14% in the period of 2022 to 2027, eventually reaching over $38 billion by 2027. The ICT market in Thailand is propelled by transitioning businesses from traditional to digital services, government initiatives such as the National Strategy, Digital Park Thailand, National AI Strategy, and Thailand 4.0, increased internet penetration, and other rapid technological advancements10.

The Thailand government are taking actions in boosting the country’s IT sector due to their growing demand for digital transformation. For example, the Thailand’s Board of Investment (BOI) adopted a new Five-Year Investment Promotion Strategy, which targets industries and sectors that promote Thailand’s long-term development11. In 2024, the Thailand BOI announced that the applications for investment promotion in 2023 achieved a 5 year high of 24 billion dollars combined value. This was an increase of 43% compared to the previous year which was led by a large ~~foreign~~ foreign investment in the five priority sectors in the BOI new investment promotion strategy, which was more than half of the combined pledges12.

In 2022, Huawei Technologies planned in investing approximately $23 million USD in building its third data center in Thailand. These infrastructure development projects will further increase the demand for hardware and IT services. Amazon Web Services (AWS) also signed an MOU with the Ministry of Digital Economy and Society of Thailand (MDES) to bring digital transformation into Thailand. AWS plans to invest more than $5 million USD in Thailand over the next 15 years. Besides that, SAP also announced their plans to accelerate cloud transformation for both private and public sectors to increase efficiency, flexibility, and agility. Alibaba Cloud company opened its first data center in Thailand in 2022 to support the Thai government’s National Strategic Plan up to year 2037. Alibaba made announcements on their plans to invest $1 billion USD as this unveils a strategic roadmap for international business at the 2022 Alibaba Cloud Summit13.

Sources:

10. Source: https://www.globaldata.com/store/report/thailand-enterprise-ict-market-analysis/#:~:text=Thailand%20Enterprise%20ICT%20Market%20Overview,over%20%2438%20billion%20in%202027

11. Source: https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=133546&language=en

12. Source: https://www.prnewswire.com/news-releases/thailand-boi-says-2023-investment-applications-up-43-to-usd-24-billion-as-large-fdi-projects-soar-302058865.html

13. Source: https://www.mordorintelligence.com/industry-reports/thailand-ict-market

ICT industry in Vietnam

A recent industry report projects that Vietnam’s ICT market will continue to grow rapidly in 2024. As the public and private sectors increase their adoption of ICT solutions, the ICT market is predicted to grow by 14% in 2023 to a value of VND 240 trillion Vietnam dong (equivalent to USD 10.2 billion). By 2027, the market is expected to surpass VND 400 trillion Vietnam dong (equivalent to USD 17 billion). The Vietnamese government has recognized information and communications technology (ICT) as a significant industry and socioeconomic growth driver. To enhance operational efficiency and improve governance services, government agencies at all levels are being encouraged to implement advanced ICT solutions14.

The rapid adoption of digital technologies in numerous industries is the main factor driving the Vietnamese market. ICT solutions are being adopted by businesses, government agencies, and educational institutions on a growing scale to modernize operations, boost efficiency, and provide better services. Furthermore, the demand for ICT services, such as digital content and e-commerce, is increasing due to the nation’s increasing internet penetration, which is being driven by inexpensive smartphones and developing infrastructure. Fintech, e-commerce, and edtech innovation is supported by government programs such as the “National Digital Transformation Program” and a vibrant startup ecosystem. Because of Vietnam’s favorable business climate and steady economy, the country is seeing an increase in foreign investments in the ICT sector, which promotes knowledge sharing and technology transfer15.

There are five mobile operators operating in Vietnam: VNPT-Vinaphone, Mobifone, Viettel, Vietnammobile, and Gtel. State-owned enterprises dominate the telecommunications industry. Additionally, there exist three mobile virtual network operators, namely Asim Telecom (Local), Mobicast (Reddi), and Dong Duong Telecom (iTel). The combined market share of the three network operators—VNPT-Vinaphone, Viettel, and Mobifone—is close to 95%. The Ministry of Information and Communications in Vietnam estimates that as of September 2022, there were 127.207 million mobile subscribers. Vietnam is predicted to have 129.2 million subscribers by the end of 2032, with an average annual growth rate of only 0.5% from 2022 to 2032. 89.2% of connections will have 5G capability by 2032. The penetration rate of the Vietnamese mobile market is approximately 128%, indicating a highly saturated market.

A recent study also shows that the cybersecurity market in Vietnam will generate USD 215 million in total revenue by 2023, with growth expected to occur at a rate of roughly 15% year in 2022 and 2023. According to World Bank estimates, as Vietnam pursues projects in e-government, the internet of things (IOT), smart cities, financial technology, artificial intelligence, etc., the nation’s digital economy will surpass USD 43 billion by 2025. However, the public and private sectors are facing an increase in cyber threats as a result of the nation’s unprecedented growth and demand for digital services16.

Sources:

14. Source: https://www.trade.gov/country-commercial-guides/vietnam-information-and-communication-technologies

15. Source: https://www.imarcgroup.com/vietnam-ict-market#:~:text=%E2%80%8BVietnam%20ICT%20market%20is,7.74%25%20during%202024%2D2032

16. Source: https://www.trade.gov/country-commercial-guides/vietnam-information-and-communication-technologies

ICT industry in Philippines

The Philippines ICT market size was valued at US$ 19.42 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 11.63% to reach a value of US$ 33.65 billion by 2027. The cumulative revenue generation for ICT providers in the Philippines is estimated at US$ 154.18 billion for 2022-202717.

Business Management International (BMI), a market research firm, projects that by 2025 software sales in the Philippines will total a $95 million USD. Local businesses have also increased their investment in enterprise architecture projects because of pushing for digital transformation. The availability of major security and enhancements for Microsoft Windows 11 was another factor driving the purchases. The Philippines moved up two spots in the 2022 IMD Digital Competitiveness Ranking report, from 58th to 56th, from the previous year18.

As Philippines move towards creating a “Bagong Pilipinas,” the government is implementing more effective methods of delivering public services. Launched in June 2023, the eGovPH App simplifies government procedures and has benefited 964,775 users with its accessibility. By collaborating with 38 government agencies, the DICT seeks to improve collaborative work and break down barriers to innovation. The digital National ID, also known as the PhilSys ID, eTravel for electronic passenger registration, and eLGU for local government services are all available on the app. By implementing the eLGU system’s Business Permit module, 776 LGUs are increasing the accessibility and effectiveness of government services19.

Disaster management has also been given top priority by the DICT thanks to its collaboration with the World Food Programme. Six cutting-edge mobile emergency telecommunication units are part of the Government Emergency Communications System – Mobile Operations Vehicle for Emergencies (GECS-MOVE) project, enhancing disaster response capabilities20.

The Philippines’ Department of Information and Communications Technology (DICT) is preparing for a substantial year in 2024 after reaching significant goals in creating an established ICT ecosystem. International attention has been drawn to the nation’s commitment to ICT development and overall growth. The Board of Investments recently recorded its highest-ever investment approvals at Php1.16 trillion (S$31.32 billion), indicating a 59% increase from 2022. A significant portion of this growth has come from the ICT sector, with approvals totaling Php96.16 billion (S$2.60 billion). A P5.6 billion (S$151.2 million) investment from IPS Incorporated, a Japanese telecom company, and a P4 billion (S$108 million) public-private partnership with IPS affiliate, Infinivan, to accelerate the National Broadband Plan deployment are two noteworthy initiatives.

Sources:

17. Source: https://www.globaldata.com/store/report/philippines-ict-market-analysis/

18. Source: https://www.trade.gov/country-commercial-guides/philippines-information-and-communications-technology#:~:text=The%20Philippine%20Government%2C%20the%20business,the%20expansion%20of%20e%2Dcommerce

19. Source: https://opengovasia.com/2024/01/08/the-philippines-enhances-digitalisation-efforts-in-2024/

20. Source: https://www.etcluster.org/sites/default/files/documents/20211027_DICT%20GECS%20MOVE%20Factsheet.pdf

Our Solutions and Services

Mentoring

We believe that tech-based entrepreneurs are the vital agents of positive and transformational change across every aspect of our society and economy. It is our intention to offer mentoring programs to our clients through which we hope to create a sense of community, wherein our members will be able to grow their companies exponentially through leveraging skillsets and potential capital provided by our organization. Through creating a sense of community, we have the potential to become one of the IT Corporate Venture Capital (CVC) Companies in the ASIA region. Our mentors, for the time being and in the foreseeable future, will comprise of the Company’s officers, whom have extensive experience in the information and computer technology industry. Additionally, our mentors possess, extensive corporate experience, corporate management skills, professional networking, and industry knowledge which are necessary to guide tech-based entrepreneurs to the path of success.

The exact details of our mentoring program will be adjusted on a case-by-case basis, but will follow a certain basic structure. Our primary focus will be to provide domain knowledge in delivering ICT-enriched learning experiences and best practices through our years of experience in the ICT and tech-based industry. We intend to provide professional industry-based advice, conduct market analysis, track performance metrics and corporate development advisory on ASIA-wide ICT aspects. The Company intends to conduct feasibility report based on the industry average using comparison of common firms performance within the ICT industry.

The feasibility reports cover seven main areas to clearly identify the pain points that entrepreneurs may encounter within the ICT market:

- Direction and Strategy

- Team and Execution

- Culture and Brand

- Creativity and Innovation

- Business Modelling

- Sustainability

- Profitability

Match-Making & Business Opportunities

The strength and ability of ASIA entrepreneurs are evolving and improving; hence our Company’s mission is to assist these entrepreneurs to grow globally. SEATech targets emerging-growth entrepreneurs and assist them to sustain their economic positions in the Asia-Pacific region, as we believe the multilateral business relationship between the countries in these regions has shown a trend of increasing strength which will continue in the future. We intend to identify emerging-growth entrepreneurs, initially, through word of mouth and existing industry contacts of our officers and directors, we may also evaluate the possibility of organizing programs or events in future and to provide a venture pitching platform for tech-based companies seeking venture capital funding. Plans regarding the organizing of events is in the growth stage, and currently we have not taken measures to finalize such plans. Once entrepreneurs are identified, we will create linkages between the ecosystem players within the information and communications technology (ICT) industry and assist in solving critical issue for the continued development of ICT sectors.

Technology Team

It is the Company’s belief that digital products and services are transforming industries, enriching lives, and propelling progress. We strongly believe that our team with years of experience in the ICT industry will be able to reinforce the importance of digitization and incubate promising entrepreneurs in the ICT industry who can shape the country’s future. With the experience of our officers and directors in this industry, we believe that we are able to benefit our members by making recommendations pursuant to the digital economy, conducting market analysis, and tracking digital progress metrics throughout Southeast Asia.

Financial and Corporate Advisory Team

Growing strong regional entrepreneurs is not our sole aim, we also aspire to build an ICT ecosystem in the region through the tool of securitization that could assist our clients to compete on the world stage. As such, we have entered into a memorandum of understanding with the National ICT Association of Malaysia (PIKOM), and GreenPro Capital Corp (NASDAQ: GRNQ) to enter into a partnership to create greater value for the high-growth emerging companies in the ASIA region. In collaboration with Greenpro, our corporate development advisory services can be flexible arrangement, custom fitted for members and their needs. We provide advisory services to ascertain that our clients are well structured and have clearly delineated funding options available in the capital marketplace.

Corporate Program

Despite the technological advancements, many small and medium-sized enterprises (SMEs) in ASIA are still low in both technology and skillsets. With our Corporate Programs, we intend to match and enhance performance of ICT entrepreneurs based upon a spectrum of availability, innovation environment, regulatory environment, and digital literacy. It is our intention to create corporate programs through which our community clients may have an opportunity to attend seminars, workshops, promotional events that showcase industry expertise during key cross-countries Southeast Asia events. All such plans remain in development and we have yet to determine a timeline when such programs will become available.

~~Future~~For the year ended December 31, 2024, we did not generate revenue due to ~~Plan~~adverse economic situation. We are continuously exploring new business opportunities.

~~Marketing~~Future Plan

We plan to explore tech-based marketplaces and attract IT startup entrepreneurs around ASIA countries through building our corporate image and awareness through corporate seminars, website and pitching events. Further, we had developed a corporate website which will introduce our SEATech Corporate Ventures Program.Marketing

AtWe plan to explore tech-based marketplaces and attract ~~this~~IT ~~time~~startup entrepreneurs around ASIA countries through building our corporate image and awareness through corporate seminars, website and pitching events. Further, we ~~intend~~had ~~for~~developed ~~the~~a ~~SEATech~~corporate ~~Corporate~~website ~~Ventures~~which ~~Program~~will tointroduce beour ~~comprised~~SEATech ofCorporate ~~the~~Ventures ~~following:~~Program.

~~1. Mentorship~~At onthis ~~Pitching~~time, -we ~~Participate~~intend infor the SEATech’s ~~corporate accelerator programs which will mentor ICT entrepreneur’s pitching~~Corporate ~~skills~~Ventures ~~and~~Program ~~educate~~to ~~their~~be ~~mind-set~~comprised of ~~current~~the ~~business environment.~~following:

21. ~~Corporate~~ ~~Event~~Mentorship –on ~~Opportunity~~Pitching to- ~~attend~~Participate ~~seminars~~in /SEATech’s corporate ~~workshops~~accelerator ~~where~~programs ~~they~~which will bementor ~~provided~~ICT ~~with~~entrepreneur’s ~~professional~~pitching ~~ICT~~skills ~~advisory~~and ~~solutions by~~educate ~~our~~their ~~experienced~~mind-set ~~officer~~of ~~and~~current ~~director~~business environment.

32. ~~Roadshow~~ ~~and~~Corporate ~~Fund-Raising~~Event ~~Advisory~~– Opportunity to ~~participate~~attend ~~in event to provide entrepreneurs with knowledge of options available within~~seminars ~~the~~/ ~~capital~~workshops ~~market~~where ~~and~~they towill ~~enhance~~be ~~their~~provided ~~understanding~~with ofprofessional ~~compliance~~ICT ~~requirements~~advisory tosolutions ~~respective~~by ~~capital~~our ~~market~~experienced ~~rules~~officer and ~~regulations~~director.

43. ~~Matchmaking~~ &Roadshow ~~Business~~and ~~Opportunities~~Fund-Raising ~~Potential~~Advisory ~~collaborations~~Opportunity to ~~for~~participate ~~local~~in ~~entrepreneurs~~event to ~~meet~~provide ~~some~~entrepreneurs with knowledge of options available within the ~~region’s~~capital ~~most~~market ~~innovative~~and to enhance their understanding ~~start-ups~~of compliance requirements to respective capital market rules and regulations.

~~We market~~4. ~~our~~Matchmaking ~~advisory~~& ~~services~~Business ~~through~~Opportunities ~~this~~Potential collaborations ~~corporate~~for ~~website~~local ~~and~~entrepreneurs ~~utilize search engine marketing~~ to ~~improve~~meet ~~the~~some ~~visibility~~ of ~~our~~the ~~corporate website.~~region’s Atmost ~~this~~innovative ~~point in time, our website was in place and accessible at: https://www.seatech~~start-~~ventures~~ups.~~com/.~~

9We market our advisory services through this corporate website and utilize search engine marketing to improve the visibility of our corporate website. At this point in time, our website was in place and accessible at: https://www.seatech-ventures.com/.

~~Expansion and Targeted Market~~9

~~For the~~Expansion 2024 financial year, our plan is to recruit at least three managing partners in each country where we operate. We are initially targeting expansion into the Asian market, specifically in Thailand, Indonesia, Singapore, Philippines, Vietnam, Myanmar, Cambodia, Taiwan, China, and ~~Hong~~Targeted Kong. We are seeking senior individuals with extensive experience in the ICT industry who are capable of providing thorough analysis, corporate management advice, and developing business solutions for ICT companies looking to expand. These partners will also be responsible for conducting performance assessments and implementing our new strategic plans and objectives.Market

~~Over~~ For the ~~next~~2024 12financial ~~months~~year, weour plan is to ~~expand~~recruit at ~~our~~least ~~team~~three managing partners in ~~Malaysia~~each bycountry ~~hiring~~where ~~fifteen~~we tooperate. ~~twenty~~We ~~new~~are ~~employees~~initially targeting expansion into the Asian market, ~~including~~specifically in ~~accountants~~Thailand, ~~public~~Indonesia, ~~relations professionals~~Singapore, ~~and~~Philippines, ~~ICT~~Vietnam, ~~business~~Myanmar, ~~consultants~~Cambodia, Taiwan, China, and Hong Kong. ~~These~~We ~~additions~~are ~~will~~seeking ~~help~~senior usindividuals with ~~strengthen~~extensive ~~our~~experience ~~operational~~in ~~capabilities.~~the ~~Additionally,~~ICT weindustry ~~will be~~who ~~securing~~are ~~office~~capable ~~space~~of toproviding ~~support~~thorough ~~our~~analysis, ~~business~~corporate ~~activities~~management advice, and developing business solutions for ICT companies looking to ~~provide~~expand. aThese ~~venue~~partners will also be responsible for ~~meetings~~conducting ~~with~~performance ~~potential~~assessments and ~~clients~~implementing our new strategic plans and objectives.

~~We are~~Over ~~also~~the ~~committed~~next to12 ~~funding our ICT Incubator Program~~months, ~~which~~we ~~will~~plan ~~require~~to ~~substantial~~expand ~~investment~~our team in ~~research,~~Malaysia ~~development,~~by ~~and~~hiring ~~testing. Due~~fifteen to ~~the~~twenty ~~complex~~new ~~nature~~employees, ofincluding ~~this initiative~~accountants, wepublic ~~are~~relations ~~currently~~professionals, ~~unable~~and toICT ~~establish~~business aconsultants. These ~~fixed~~additions ~~timeline~~will orhelp ~~budget.~~us Asstrengthen our ~~operations~~operational ~~evolve~~capabilities. Additionally, we will ~~consider~~be ~~potential~~securing ~~acquisitions~~office ~~and~~space ~~venture~~to ~~opportunities~~support ~~that may complement~~ our ~~existing~~ business activities, ~~particularly~~and ~~following our~~to ~~successful~~provide ~~listing~~a onvenue ~~the~~for USmeetings ~~capital~~with ~~market~~potential clients.

~~This~~We are also committed to funding our ICT Incubator ~~strategic~~Program, ~~expansion~~which ~~and~~will ~~recruitment~~require ~~effort~~substantial investment in ~~Malaysia~~research, isdevelopment, ~~part~~and oftesting. ~~our~~Due ~~broader~~to ~~commitment~~the tocomplex ~~enhancing~~nature ~~our~~of ~~presence~~this ininitiative, we ~~key~~are ~~markets~~currently ~~and reinforcing~~unable ~~our~~to ~~service~~establish ~~offerings~~a infixed ~~the~~timeline ~~ICT~~or ~~sector~~budget. ByAs ~~bolstering~~ our ~~team~~operations ~~with~~evolve, ~~skilled~~we ~~professionals~~will consider potential acquisitions and venture ~~establishing~~opportunities athat ~~more~~may ~~robust operational~~complement ~~base,~~our weexisting ~~aim~~activities, toparticularly ~~improve~~following our ~~competitive~~successful ~~edge~~listing ~~and~~on ~~responsiveness~~the toUS ~~market~~capital ~~demands~~market.

~~In parallel,~~This ~~our~~strategic ~~investment~~expansion inand ~~the~~recruitment ~~ICT~~effort ~~Incubator~~in Malaysia ~~Program~~is ~~reflects~~part of our ~~dedication~~broader commitment to ~~fostering~~enhancing ~~innovation~~our ~~and~~presence ~~nurturing~~in ~~new~~key ~~technologies that~~markets ~~could~~and ~~lead~~reinforcing toour ~~groundbreaking~~service ~~developments~~offerings in the ~~industry~~ICT sector. By ~~This~~bolstering ~~program~~our ~~will~~team ~~serve~~with asskilled aprofessionals ~~catalyst~~and ~~for~~establishing ~~transforming~~a ~~fresh~~more ~~ideas~~robust ~~into viable~~operational ~~products and services~~base, ~~thereby~~we ~~contributing~~aim to ~~the~~improve ~~overall~~our ~~growth~~competitive ofedge and ~~the~~responsiveness ~~ICT~~to ~~sector~~market demands.

~~As we~~In ~~move forward~~parallel, our ~~exploration~~investment ofin ~~potential~~the ~~acquisitions~~ICT ~~and~~Incubator ~~venture~~Program reflects ~~opportunities~~our ~~will~~dedication beto ~~guided~~fostering byinnovation aand ~~strategic~~nurturing ~~focus~~new ontechnologies ~~creating synergies~~that ~~with~~could ~~our~~lead ~~current~~to ~~operations.~~groundbreaking developments in the industry. This ~~approach~~program will ~~ensure~~serve ~~that~~as ~~any~~a ~~new~~catalyst ~~partnerships~~for ortransforming ~~integrations~~fresh ~~not~~ideas ~~only~~into ~~align~~viable ~~with~~products ~~but~~and ~~also~~services, thereby contributing to the overall ~~enhance~~growth ~~our~~of ~~core~~the ~~business~~ICT ~~objectives~~sector.

~~Competition~~As we move forward, our exploration of potential acquisitions and venture opportunities will be guided by a strategic focus on creating synergies with our current operations. This approach will ensure that any new partnerships or integrations not only align with but also enhance our core business objectives.

SEATech focuses on providing mentoring and advisory services to ICT companies in ASIA. The venture capital industry in ASEAN or even the ASIAN region has grown substantially over the years, as more start-ups, especially those with ICT focus, will require mentoring and incubation services in order to move to the next level. Henceforth, the venture capital industry is getting more competitive and SEATech intends to improve its visibility and the provision of its advisory services in order to stand out from the competition. The Company will seek to improve its competency in ICT so as to create a competitive advantage over our existing and/or potential competitors.Competition

~~Customers~~SEATech focuses on providing mentoring and advisory services to ICT companies in ASIA. The venture capital industry in ASEAN or even the ASIAN region has grown substantially over the years, as more start-ups, especially those with ICT focus, will require mentoring and incubation services in order to move to the next level. Henceforth, the venture capital industry is getting more competitive and SEATech intends to improve its visibility and the provision of its advisory services in order to stand out from the competition. The Company will seek to improve its competency in ICT so as to create a competitive advantage over our existing and/or potential competitors.

For the year ended December 31, 2023, the Company has generated $328,340 revenue from customers through the provision of business mentoring, nurturing and incubation services relating to client businesses and corporate development advisory services.Customers

~~Employees~~For the year ended December 31, 2024, due to adverse economic situation, the Company has generated $0 revenue from customers through the provision of business mentoring, nurturing and incubation services relating to client businesses and corporate development advisory services.

~~As of December 31, 2023, the Company has a total of 3 full-time employees at our headquarter office in Kuala Lumpur, Malaysia. The 3 full-time employees are administrative staffs of the Company.~~Employees

~~Our Chief~~As ~~Executive~~of ~~Officer~~December 31, ~~Executive~~2024, ~~Directors~~the ~~and~~Company ~~Chief~~has ~~Financial~~a ~~Officer,~~total ~~have~~of 1 ~~flexible~~full-time ~~working~~employee ~~hours,~~at upour toheadquarter 30office ~~hours~~in ~~per~~Kuala ~~week~~Lumpur, ~~but~~Malaysia. ~~are prepared~~The to1 ~~devote~~full-time ~~more~~employee ~~time~~is ifadministrative ~~necessary~~staffs of the Company.

Our ~~independent~~ ~~non-executive~~Chief ~~directors~~Executive ~~also~~Officer, Executive Directors and Chief Financial Officer, have ~~flexibility~~flexible working hours, ~~with~~up noto ~~time~~30 ~~limits~~hours per week, but are prepared to devote more time if necessary.

~~We do~~Our ~~not~~independent ~~presently~~non-executive ~~have~~directors ~~pension,~~also ~~health,~~have flexibility ~~annuity,~~working ~~insurance,~~hours ~~stock~~with ~~options,~~no ~~profit~~time ~~sharing~~limits, orbut ~~similar benefit plans; however, we may adopt plans in the future. There~~ are ~~presently~~prepared ~~no personal benefits available~~ to ~~our~~devote ~~Officers,~~more ~~Directors~~time orif ~~employees~~necessary.

~~Government~~We do not presently have pension, health, annuity, ~~Regulation~~insurance, stock options, profit sharing, or similar benefit plans; however, we may adopt plans in the future. There are presently no personal benefits available to our Officers, Directors or employees.

~~At present,~~Government we are subject to the laws and regulations of the jurisdictions in which we operate, which may include business licensing requirements, income taxes and payroll taxes. In general, the development and operation of our business is not subject to special regulatory and supervisory requirements.Regulation

10At present, we are subject to the laws and regulations of the jurisdictions in which we operate, which may include business licensing requirements, income taxes and payroll taxes. In general, the development and operation of our business is not subject to special regulatory and supervisory requirements.

~~ITEM 1A. RISK FACTORS~~10

~~We are~~ITEM a1A. ~~smaller~~RISK ~~reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.~~FACTORS

~~ITEM~~We are a smaller reporting company as defined by Rule ~~1B.~~12b-2 ~~UNRESOLVED~~of ~~STAFF~~the ~~COMMENTS~~Securities Exchange Act of 1934 and are not required to provide the information under this item.

~~We are~~ITEM a1B. ~~smaller~~UNRESOLVED ~~reporting~~STAFF ~~company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.~~COMMENTS

~~ITEM~~We are a smaller reporting company as defined by Rule ~~1C.~~12b-2 ~~CYBERSECURITY~~of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

~~Risk management~~ITEM ~~and~~1C. ~~strategy~~CYBERSECURITY

~~SEATech Ventures~~Risk ~~Corp.~~management ~~acknowledges the crucial necessity of establishing, executing,~~ and ~~sustaining strong cybersecurity measures to secure our information systems. This is undertaken to uphold the confidentiality, integrity, and accessibility of our data.~~strategy

~~We plan~~SEATech toVentures ~~strategically~~Corp. ~~incorporate~~acknowledges the ~~cybersecurity~~crucial ~~risk~~necessity ~~management~~of ~~into~~establishing, ~~all our comprehensive risk management framework~~executing, ~~fostering~~and asustaining ~~corporate culture~~strong ~~that prioritizes~~ cybersecurity atmeasures ~~all levels. This integration shall be done in stages so as~~ to ~~guarantee~~secure ~~that cybersecurity factors are ingrained in~~ our ~~decision-making~~information ~~processes throughout the organization~~systems. WeThis is ~~plan~~undertaken to ~~incorporate~~uphold ~~a risk management team to collaborate closely with~~ the ITconfidentiality, ~~department~~integrity, ~~consistently assessing~~ and ~~mitigating~~accessibility ~~cybersecurity~~of ~~risks in alignment with~~ our ~~business goals and operational requirements~~data.

We ~~recognize~~ ~~the~~plan ~~intricate~~to ~~and~~strategically incorporate ~~ever-changing~~cybersecurity ~~nature~~risk ofmanagement ~~cybersecurity~~into ~~threats.~~all Toour ~~address~~comprehensive ~~this,~~risk wemanagement ~~shall~~framework, ~~collaborate~~fostering ~~with~~a ~~external experts,~~corporate ~~including~~culture that prioritizes cybersecurity ~~assessors~~at ~~and~~all ~~consultants~~levels. This ~~cooperation~~integration shall ~~involve~~be ~~regular~~done ~~audits,~~in ~~threat assessments,~~stages ~~and~~so ~~consultations~~as to ~~enhance~~guarantee that cybersecurity factors are ingrained in our decision-making ~~security~~processes ~~measures~~throughout the organization. ~~These~~We ~~efforts~~plan ~~ensure~~to ~~that~~incorporate ~~our~~a ~~cybersecurity~~risk ~~strategies~~management ~~adhere~~team to collaborate closely with the IT ~~industry~~department, ~~best~~consistently ~~practices~~assessing and ~~remain~~mitigating ~~effective~~cybersecurity risks in ~~safeguarding~~alignment with our ~~systems~~business goals and operational requirements.

~~Understanding the~~We ~~potential~~recognize ~~risks~~the ~~associated~~intricate and ~~with third~~ever-~~party~~changing ~~service~~nature ~~providers,~~of wecybersecurity ~~shall~~threats. ~~implement~~To ~~stringent~~address ~~processes~~this, towe ~~oversee and manage these concerns. We~~ shall ~~conduct~~collaborate ~~thorough security assessments before engaging~~ with ~~any~~external ~~third-party~~experts, ~~provider~~including ~~and maintain ongoing monitoring~~cybersecurity toassessors ~~ensure~~and ~~compliance with our cybersecurity standards~~consultants. This ~~involves~~cooperation ~~quarterly~~shall ~~assessments~~involve byregular ~~our~~audits, ~~management~~threat assessments, and ~~continuous~~consultations ~~evaluations by~~to enhance our security ~~engineers~~ measures. ~~This~~These ~~approach~~efforts isensure ~~designed~~that toour ~~mitigate~~cybersecurity ~~the~~strategies ~~risks~~adhere ofto ~~data~~industry ~~breaches~~best orpractices ~~other~~and ~~security~~remain ~~incidents~~effective ~~originating~~in ~~from~~safeguarding ~~third-party~~our ~~sources~~systems.

Understanding the potential risks associated with third-party service providers, we shall implement stringent processes to oversee and manage these concerns. We shall ~~have~~conduct ~~not~~thorough ~~encountered~~security assessments before engaging with any third-party provider and maintain ongoing monitoring to ensure compliance with our cybersecurity ~~issues~~standards. ~~that~~This ~~have~~involves ~~significantly~~quarterly ~~impacted~~assessments by our ~~operational~~management ~~performance~~and continuous evaluations by our security engineers. This approach is designed to mitigate the risks of data breaches or ~~financial~~other ~~status~~security incidents originating from third-party sources.

~~Governance~~We have not encountered cybersecurity issues that have significantly impacted our operational performance or financial status.

The Board of Directors is fully aware of the vital importance of managing cybersecurity risks. To ensure effective governance in handling these risks, the Board shall implement a strong oversight mechanisms. This reflects our understanding of the significant impact these threats can have on operational integrity and stakeholder confidence.Governance

~~ITEM~~The Board of Directors is 2fully aware of the vital importance of managing cybersecurity risks. ~~PROPERTIES~~To ensure effective governance in handling these risks, the Board shall implement a strong oversight mechanisms. This reflects our understanding of the significant impact these threats can have on operational integrity and stakeholder confidence.

~~We have~~ITEM moved our physical office from 11-05 & 11-06, Tower A, Ave 3 Vertical Business Suite, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia to B-23A-02, G-Vestor Tower, Pavilion Embassy, 200, Jalan Ampang, 50450 Kuala Lumpur, Malaysia2. PROPERTIES

~~ITEM~~At 3.present, ~~LEGAL~~our ~~PROCEEDINGS~~physical office is in B-23A-02, G-Vestor Tower, Pavilion Embassy, 200, Jalan Ampang, 50450 Kuala Lumpur, Malaysia.

~~From time~~ITEM ~~to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business~~3. ~~Litigation is~~LEGAL subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. There are currently no pending legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.PROCEEDINGS

~~ITEM~~From time to time, we may become involved in various 4lawsuits and legal proceedings which arise in the ordinary course of business. ~~MINE~~Litigation ~~SAFETY~~is ~~DISCLOSURES~~subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. There are currently no pending legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.

~~Not applicable~~ITEM 4. MINE SAFETY DISCLOSURES

11Not applicable.

~~PART II~~11

~~ITEM 5.~~PART ~~MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES~~II

~~Trading in~~Our ~~stocks~~common stock is currently quoted on the OTC Pink isunder ~~often~~the ~~thin and is characterized by wide fluctuations in~~ trading ~~prices~~symbol ~~due to many factors that may have little to do with a company’s operations or business prospects~~“SEAV. ~~We cannot assure you that there will be a market for our common stock in the future.~~”

~~For the~~Trading ~~periods~~in ~~indicated,~~stocks ~~the~~quoted ~~following~~on ~~table~~the ~~sets~~OTC ~~forth~~Pink ~~the~~is ~~high~~often thin and ~~low~~is ~~bid~~characterized by wide fluctuations in trading prices ~~per~~due ~~share~~to ofmany ~~common~~factors ~~stock~~that ~~based~~may onhave ~~inter-dealer~~little ~~prices, without~~to ~~retail~~do ~~mark-up,~~with ~~mark-down~~a company’s operations or ~~commission~~business ~~and~~prospects. ~~may~~We ~~not~~cannot ~~represent~~assure ~~actual~~you ~~transactions~~that there will be a market for our common stock in the future.

Fiscal Year 2023	Highest Bid		Lowest Bid
First Quarter	$	0.16	$	0.02
Second Quarter	$	0.54	$	0.01
Third Quarter	$	0.65	$	0.04
Fourth Quarter	$	0.83	$	0.20

For the periods indicated, the following table sets forth the high and low bid prices per share of common stock based on inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.

Holders

Fiscal Year 2024	Highest Bid		Lowest Bid
First Quarter	$	0.58	$	0.11
Second Quarter	$	0.21	$	0.03
Third Quarter	$	0.19	$	0.03
Fourth Quarter	$	0.20	$	0.03

~~As of December 31, 2023, we had 114,351,503 shares of our Common Stock par value, $.0001 issued and outstanding. There were 492 beneficial owners of our Common Stock.~~Holders

~~Transfer~~As of December 31, 2024, we had 92,519,843 shares ~~Agent~~of our Common Stock par value, $.0001 issued and ~~Registrar~~outstanding. There were 484 beneficial owners of our Common Stock.

~~The transfer agent for our capital stock is VStock~~ Transfer, ~~LLC,~~Agent ~~with an address at 18, Lafayette Place, Woodmere, New York 11598~~ and ~~telephone number is +1 (212) 828-8436.~~Registrar

~~Penny~~The transfer agent for our capital stock is VStock ~~Stock~~Transfer, ~~Regulations~~LLC, with an address at 18, Lafayette Place, Woodmere, New York 11598 and telephone number is +1 (212) 828-8436.

~~The Securities~~Penny ~~and Exchange Commission has adopted regulations which generally define “penny stock” to be an equity security that has a market price of less than $5.00 per share. Our Common~~ Stock, when and if a trading market develops, may fall within the definition of penny stock and be subject to rules that impose additional sales practice requirements on broker-dealers who sell such securities to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000, or annual incomes exceeding $200,000 individually, or $300,000, together with their spouse).Regulations

~~For transactions~~The ~~covered~~Securities byand ~~these~~Exchange ~~rules,~~Commission ~~the~~has ~~broker-dealer~~adopted regulations ~~must~~which ~~make~~generally adefine ~~special~~“penny ~~suitability~~stock” ~~determination~~to ~~for~~be ~~the~~an ~~purchase~~equity ofsecurity ~~such~~that ~~securities and~~has ~~have~~a ~~received~~market ~~the~~price ~~purchaser’s~~of ~~prior~~less ~~written~~than ~~consent~~$5.00 toper ~~the transaction~~share. Our ~~Additionally,~~Common ~~for any transaction~~Stock, ~~other~~when ~~than~~and ~~exempt transactions,~~if ~~involving~~ a ~~penny~~trading ~~stock~~market develops, ~~the~~may ~~rules~~fall ~~require~~within the ~~delivery,~~definition ~~prior to the transaction,~~ of apenny ~~risk~~stock ~~disclosure document mandated by the Securities~~ and ~~Exchange~~be ~~Commission~~subject ~~relating~~ to ~~the~~rules ~~penny~~that ~~stock~~impose additional ~~market.~~sales ~~The~~practice ~~broker-dealer~~requirements ~~also~~on ~~must disclose the commissions payable to both the~~ broker-~~dealer~~dealers ~~and~~who ~~the~~sell ~~registered~~such ~~representative, current quotations for the~~ securities ~~and,~~to ifpersons ~~the~~other ~~broker-dealer~~than isestablished ~~the~~customers ~~sole market-maker, the broker-dealer must disclose this fact~~ and ~~the broker-dealer’s presumed control over the market. Finally, monthly~~accredited ~~statements~~investors ~~must~~(generally bethose ~~sent~~with ~~disclosing~~assets ~~recent price information for the penny stock held~~ in ~~the~~excess ~~account~~of ~~and~~$1,000,000, ~~information~~or onannual ~~the~~incomes ~~limited~~exceeding ~~market in~~$200,000 ~~penny~~individually, ~~stocks.~~or ~~Consequently~~$300,000, ~~the “penny stock” rules may restrict the ability of broker-dealers to sell our Common Stock~~together ~~and~~with ~~may affect the ability of investors to sell~~ their ~~Common Stock in the secondary market~~spouse).

~~In addition~~For totransactions ~~the~~covered ~~“penny~~by ~~stock”~~these rules, ~~promulgated~~the bybroker-dealer must make a special suitability determination for the ~~Securities~~purchase of such securities and ~~Exchange~~have ~~Commission,~~received the ~~Financial~~purchaser’s ~~Industry~~prior ~~Regulatory~~written ~~Authority~~consent ~~(“FINRA”)~~to ~~has~~the ~~adopted~~transaction. ~~rules~~Additionally, ~~that~~for ~~require~~any ~~that~~transaction, inother ~~recommending~~than anexempt ~~investment~~transactions, toinvolving a ~~customer~~penny stock, athe ~~broker-dealer~~rules ~~must~~require ~~have~~the ~~reasonable~~delivery, ~~grounds~~prior ~~for~~to ~~believing~~the ~~that~~transaction, ~~the~~of ~~investment~~a isrisk ~~suitable~~disclosure ~~for~~document ~~that~~mandated ~~customer.~~by ~~Prior~~the toSecurities ~~recommending~~and ~~speculative~~Exchange ~~low-priced securities~~Commission relating to ~~their~~the penny ~~non-institutional~~stock ~~customers,~~market. The broker-~~dealers~~dealer also must ~~make~~disclose ~~reasonable~~the ~~efforts~~commissions payable to ~~obtain~~both ~~information~~the ~~about~~broker-dealer and the ~~customer’s financial~~registered ~~status~~representative, current ~~tax~~quotations ~~status,~~for ~~investment~~the ~~objectives~~securities and, ~~other~~if ~~information.~~the ~~Under~~broker-dealer ~~interpretations~~is ofthe ~~these~~sole ~~rules~~market-maker, ~~FINRA~~the ~~believes~~broker-dealer ~~that~~must disclose this fact and ~~there~~the isbroker-dealer’s apresumed ~~high~~control ~~probability~~over ~~that~~the ~~speculative~~market. ~~low-priced~~Finally, ~~securities~~monthly ~~will~~statements ~~not~~must be ~~suitable~~sent disclosing recent price information for atthe ~~least~~penny ~~some~~stock ~~customers~~held in the account and information on the limited market in penny stocks. ~~The~~Consequently, ~~FINRA~~the ~~requirements~~“penny stock” ~~make~~rules itmay ~~more~~restrict ~~difficult~~the ~~for~~ability of broker-dealers to ~~recommend~~sell ~~that their customers buy~~ our ~~common~~Common ~~stock,~~Stock ~~which~~and may ~~limit~~affect the ~~investors’~~ ability toof ~~buy~~investors ~~and~~to sell ~~our~~their ~~stock~~Common Stock in the secondary market.

~~Dividend~~In addition to the “penny stock” rules ~~Policy~~promulgated by the Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) has adopted rules that require that in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low-priced securities will not be suitable for at least some customers. The FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit the investors’ ability to buy and sell our stock.

~~Any future~~Dividend determination as to the declaration and payment of dividends on shares of our Common Stock will be made at the discretion of our board of directors out of funds legally available for such purpose. We are under no obligations or restrictions to declare or pay dividends on our shares of Common Stock. In addition, we currently have no plans to pay such dividends. Our board of directors currently intends to retain all earnings for use in the business for the foreseeable future.Policy

~~Equity~~Any future determination as to the declaration and ~~Compensation~~payment ~~Plan~~of ~~Information~~dividends on shares of our Common Stock will be made at the discretion of our board of directors out of funds legally available for such purpose. We are under no obligations or restrictions to declare or pay dividends on our shares of Common Stock. In addition, we currently have no plans to pay such dividends. Our board of directors currently intends to retain all earnings for use in the business for the foreseeable future.

~~Currently, there~~Equity isCompensation noPlan ~~equity compensation plan in place.~~Information

~~Unregistered Sales~~Currently, ofthere ~~Equity~~is ~~Securities~~no equity compensation plan in place.

~~Currently, there~~Unregistered isSales ~~no unregistered sales~~ of ~~equity~~Equity ~~securities.~~Securities

12Currently, there is no unregistered sales of equity securities.

~~Purchases of Equity Securities by the Registrant and Affiliated Purchasers~~12

~~We have~~Purchases ~~not repurchased any shares~~ of ~~our~~Equity ~~common~~Securities ~~stock~~by ~~during~~ the ~~fiscal~~Registrant and ~~year~~Affiliated ~~ended December 31, 2023.~~Purchasers

~~ITEM~~We have not repurchased any shares of our common stock 6.during ~~SELECTED~~the ~~FINANCIAL~~fiscal ~~DATA~~year ended December 31, 2024.

~~We are~~ITEM a6. ~~smaller~~SELECTED ~~reporting~~FINANCIAL ~~company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.~~DATA

~~ITEM~~We are a smaller reporting company as defined by Rule 7.12b-2 ~~MANAGEMENT’S~~of ~~DISCUSSION~~the ~~AND~~Securities ~~ANALYSIS~~Exchange OFAct ~~FINANCIAL~~of ~~CONDITION~~1934 ~~AND~~and ~~RESULTS~~are OFnot ~~OPERATIONS~~required to provide the information under this item.

~~The following~~ITEM ~~discussion~~7. ofMANAGEMENT’S ~~our~~DISCUSSION ~~financial~~AND ~~condition~~ANALYSIS ~~and~~OF ~~results~~FINANCIAL ofCONDITION ~~operations~~AND ~~should~~RESULTS beOF ~~read in conjunction with our audited consolidated financial statements and the notes to those financial statements appearing elsewhere in this Report.~~OPERATIONS

~~Certain statements~~The infollowing ~~this~~discussion ~~Report~~of ~~constitute~~our ~~forward-looking~~financial ~~statements. These forward-looking statements include statements, which involve risks~~condition and ~~uncertainties,~~results ~~regarding,~~of ~~among~~operations ~~other~~should ~~things,~~be ~~(a)~~read ~~our projected sales, profitability, and cash flows, (b) our growth strategy, (c) anticipated trends~~ in ~~our~~conjunction ~~industry,~~with ~~(d)~~ our ~~future~~audited ~~financing~~consolidated ~~plans,~~financial ~~and~~statements ~~(e) our anticipated needs for,~~ and ~~use of, working capital. They are generally identifiable by use of~~ the ~~words~~notes ~~“may,”~~to ~~“will,”~~those ~~“should,” “anticipate,”~~financial “estimate,” “plan,” “potential,” “project,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend,” or the negative of these words or other variations on these words or comparable terminology. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements ~~contained~~appearing elsewhere in this ~~filing will in fact occur~~Report. ~~You should not place undue reliance on these forward-looking statements.~~

~~The~~Certain statements in this Report constitute forward-looking statements. These forward-looking statements ~~speak~~include ~~only~~statements, aswhich ofinvolve ~~the~~risks ~~date~~and onuncertainties, ~~which~~regarding, ~~they~~among ~~are~~other ~~made~~things, (a) our projected sales, profitability, and cash flows, ~~except~~(b) toour ~~the~~growth ~~extent~~strategy, ~~required~~(c) anticipated trends in our industry, (d) our future financing plans, and (e) our anticipated needs for, and use of, working capital. They are generally identifiable by ~~federal~~use ~~securities~~of the words “may,” ~~laws~~“will,” we“should,” ~~undertake~~“anticipate,” no“estimate,” ~~obligation~~“plan,” to“potential,” “project,” ~~update~~“continuing,” ~~any~~“ongoing,” ~~forward-looking~~“expects,” ~~statements~~“management tobelieves,” ~~reflect~~“we believe,” ~~events~~“we intend,” or ~~circumstances~~the ~~after~~negative ~~the~~of ~~date~~these words or other variations on ~~which~~these words or comparable terminology. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements ~~are~~contained ~~made~~in orthis tofiling ~~reflect~~will in ~~the~~fact ~~occurrence~~occur. ofYou ~~unanticipated~~should ~~events~~not place undue reliance on these forward-looking statements.

~~Overview~~The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SEATech Ventures Corp. is a company that operates through its wholly owned subsidiary, SEATech Ventures Corp., a Company registered in Labuan, Malaysia, which in turn owns 100% of SEATech Ventures (HK) Limited, the operating Hong Kong Company which is described below. The purpose of SEATech Ventures Corp. Labuan, Malaysia is to act as a holding company.Overview

~~The purpose of~~ SEATech Ventures ~~(HK)~~Corp. ~~Limited~~ is a tocompany ~~become~~that ~~the~~operates ~~current~~through ~~regional~~its ~~hub~~wholly ~~for~~owned ~~business~~subsidiary, ~~activities~~SEATech ~~and~~Ventures toCorp., ~~engage~~a Company registered in ~~operational~~Labuan, ~~functions.~~Malaysia, which in turn owns 100% of SEATech Ventures (HK) Limited, ~~owns~~the ~~100%~~operating ofHong ~~SEATech~~Kong ~~CVC~~Company ~~Sdn.~~which ~~Bhd~~is described below. ~~and~~The purpose of SEATech Ventures ~~Sdn.~~ ~~Bhd~~Corp. ~~respectively~~Labuan, ~~which~~Malaysia ~~both~~is ~~companies~~to ~~are~~act ~~in Malaysia,~~ as ~~part~~a ofholding ~~our business development initiative~~company.

~~Currently, our~~The ~~physical~~purpose ~~office~~of SEATech Ventures (HK) Limited is into ~~B-23A-02,~~become ~~G-Vestor~~the ~~Tower,~~current ~~Pavilion~~regional ~~Embassy,~~hub ~~200,~~for ~~Jalan~~business ~~Ampang,~~activities ~~50450~~and ~~Kuala~~to engage in operational functions. SEATech Ventures (HK) ~~Lumpur~~Limited owns 100% of SEATech CVC Sdn. Bhd. and SEATech Ventures Sdn. Bhd. respectively, which both companies are in Malaysia, as part of our business development initiative.

~~SEATech Group business activities are mainly providing business mentoring services~~Currently, ~~nurturing~~our ~~and~~physical ~~incubation services relating to client businesses~~office ~~and~~is ~~corporate development advisory services to entrepreneurs~~ in ~~the~~B-23A-02, ~~broader~~G-Vestor ~~technology industry~~Tower, ~~but~~Pavilion ~~with~~Embassy, ~~a specific focus on the information and communication technology industry. We will~~200, ~~focus~~Jalan ~~our efforts on nurturing ICT entrepreneurs in Asia. Our advisory services will center on our “ICT Start-Up Mentorship Program”~~Ampang, ~~which~~50450 isKuala ~~designed to assist tech-based entrepreneurs in solving ICT industry pain points caused by technical insufficiencies~~Lumpur, inappropriate financial modelling and weak strategic positioning Our advisory services aim to improve the technical exposure of our clients and to improve their sustainability in the ICT industry community through a combination of mentorship programsMalaysia.

~~As part~~SEATech ofGroup ~~our~~business ~~expansion~~activities are ~~plan,~~mainly onproviding ~~September~~business 20mentoring services, ~~2022~~nurturing ~~Greenpro~~and ~~Capital~~incubation ~~Corp.~~services ~~(NASDAQ:~~relating ~~GRNQ)~~to ~~appointed~~client ~~SEATech~~businesses ~~Ventures~~and ~~(HK)~~corporate ~~Limited as a~~development ~~listing~~advisory ~~sponsor~~services to ~~engage~~entrepreneurs ~~potential~~in ~~token~~the ~~issuers~~broader totechnology ~~list~~industry, onbut ~~Green-X,~~with ~~the~~a ~~World’s~~specific ~~first~~focus ~~Shariah-Compliant~~on ~~ESG~~the ~~(environment,~~information ~~social~~ and ~~governance)~~communication technology ~~Digital~~industry. ~~Asset~~We ~~Exchange~~will, ~~(“DAX”)~~focus inour ~~Labuan,~~efforts ~~Malaysia.~~on ~~According~~nurturing toICT ~~global~~entrepreneurs ~~consulting~~in ~~firm~~Asia. ~~BCG,~~Our ~~the~~advisory ~~asset~~services ~~tokenization market~~ will ~~grow~~center 50on ~~times~~our ~~from~~“ICT Start-Up ~~US$310~~Mentorship ~~billion~~Program”, inwhich ~~this~~is ~~year,~~designed to ~~US$16.1~~assist ~~trillion~~tech-based byentrepreneurs ~~2030,~~in ~~driven~~solving byICT ~~demand~~industry ~~from~~pain apoints ~~wide~~caused ~~range of investors~~by ~~for~~technical ~~greater~~insufficiencies, ~~access~~inappropriate tofinancial ~~private~~modelling ~~markets~~and ~~(Source:~~weak ~~World~~strategic ~~Economic~~positioning ~~Forum~~Our –advisory ~~Global~~services ~~Agenda~~aim ~~Council,~~to ~~BCG~~improve ~~Analysis).~~the ~~As a DAX listing~~technical ~~sponsor,~~exposure ~~SEATech~~of ~~Ventures~~our ~~(HK)~~clients ~~Limited~~and ~~focus~~to onimprove ~~digital/physical~~their ~~asset-backed~~sustainability ~~companies~~ in the ~~STO~~ICT ~~(security~~industry ~~token~~community ~~offering)~~through ~~listing on~~a ~~Green-X~~combination of mentorship programs.

13As part of our expansion plan, on September 20, 2022 Greenpro Capital Corp. (NASDAQ: GRNQ) appointed SEATech Ventures (HK) Limited as a listing sponsor to engage potential token issuers to list on Green-X, the World’s first Shariah-Compliant ESG (environment, social and governance) Digital Asset Exchange (“DAX”) in Labuan, Malaysia. According to global consulting firm BCG, the asset tokenization market will grow 50 times from US$310 billion in this year, to US$16.1 trillion by 2030, driven by demand from a wide range of investors for greater access to private markets (Source: World Economic Forum – Global Agenda Council, BCG Analysis). As a DAX listing sponsor, SEATech Ventures (HK) Limited focus on digital/physical asset-backed companies in the STO (security token offering) listing on Green-X.

~~Results of Operations~~13

~~Revenues for~~Results ~~the~~of ~~year ended December 31, 2023 and 2022~~Operations

~~The Company~~Revenues ~~generated revenue of $328,340 and $548,095~~ for the year ended December 31, ~~2023~~2024 and 2022. The revenue represented income from provision of business mentoring, nurturing and incubation services relating to client businesses and corporate development advisory services. A decrease of revenue was due to lower revenue deal flow during the year ended December 31, 2023.

~~Cost~~The Company generated revenue of $0 and $328,340 for the year ended December 31, 2024 and 2023. The revenue represented income from provision of ~~Revenue~~business mentoring, nurturing and ~~Gross~~incubation services ~~Margin~~relating to client businesses and corporate development advisory services. A decrease of revenue was due no revenue deal flow during the year ended December 31, 2024.

~~For the~~Cost ~~year ended December 31, 2023 and 2022, cost incurred in providing corporate development advisory services is $251,700 and $454,053. The decrease~~ of ~~cost~~Revenue ~~of revenue is associated with the decrease in revenue for the year ended December 31, 2023. The Company generates gross profits of $76,640~~ and ~~$94,042~~Gross ~~for the year ended December 31, 2023 and 2022.~~Margin

~~Selling~~For the year ended December 31, 2024 and 2023, cost incurred in providing corporate development advisory services is $0 and ~~Distribution~~$251,700. ~~Expenses~~The decrease of cost of revenue is associated with the decrease in revenue for the year ended December 31, 2024. The Company generates gross profits of $0 and $76,640 for the year ended December 31, 2024 and 2023.

Selling ~~and~~ ~~distribution expenses for the year ended December 31, 2023~~ and ~~2022~~Distribution amounted to $835 and $7,613 respectively. These expenses comprised expenses on website and website maintenance, marketing and networking event. The decrease of selling and distribution expenses is associated with lesser marketing expenses incurred for the year ended December 31, 2023.Expenses

~~General~~Selling and distribution expenses for the year ended December 31, 2024 and ~~Administrative~~2023 ~~Expenses~~amounted to $65 and $835 respectively. These expenses comprised expenses on website and website maintenance, marketing and networking event. The decrease of selling and distribution expenses is associated with lesser marketing expenses incurred for the year ended December 31, 2024.

General ~~and~~ ~~administrative expenses for the year ended December 31, 2023~~ and ~~2022~~Administrative amounted to $378,634 and $182,522 respectively. These expenses are comprised of salary, professional fee, compliance fee, office and operation expenses. The increase of general and administrative expenses is mainly due to the provision for credit loss allowance for the year ended December 31, 2023.Expenses

~~Other~~General and administrative expenses for the year ended ~~Income~~December 31, 2024 and 2023 amounted to $157,382 and $378,634 respectively. These expenses are comprised of salary, professional fee, compliance fee, office and operation expenses. The decrease of general and administrative expenses is associated with lesser general and administrative expenses incurred for the year ended December 31, 2024.

~~The Company~~Other ~~recorded an amount of $0 and $1,936 as other income for the year ended December 31, 2023 and 2022 respectively. This income is derived from the foreign exchange gain.~~Income

~~Net~~The Company recorded an amount of $521 and $0 as other ~~Loss~~income for the year ended December 31, 2024 and ~~Net~~2023 ~~Loss~~respectively. ~~Margin~~This income is derived from the foreign exchange gain.

~~The~~Net ~~net~~Loss ~~loss was $302,829 for the year ended December 31, 2023 as compared to $94,157 for the year ended December 31, 2022. The increase in net loss of $208,672 was contributed to the higher general~~ and ~~administrative expenses~~Net ~~incurred~~Loss ~~for the year ended December 31, 2023. Taking into the loss for the year ended December 31, 2023, the accumulated loss for the Company has increased from $594,080 to $896,909.~~Margin

~~Liquidity~~The net loss was $156,926 for the year ended December 31, 2024 as compared to $302,829 for the year ended December 31, 2023. The decrease in net loss of $145,903 was associated with the lesser general and ~~Capital~~administrative ~~Resources~~expenses incurred for the year ended December 31, 2024. Taking into the loss for the year ended December 31, 2024, the accumulated loss for the Company has increased from $896,909 to $1,053,835.

~~As of~~Liquidity ~~December 31, 2023, we had cash~~ and ~~cash~~Capital ~~equivalents of $29,392. We expect increased levels of operations going forward will result in more significant cash flow and in turn working capital.~~Resources

~~We depend~~As ~~substantially~~of onDecember ~~operating~~31, ~~activities~~2024, towe ~~provide~~had uscash ~~with~~and ~~the~~cash ~~liquidity~~equivalents of ~~and~~$12,330. ~~capital~~We ~~resources~~expect weincreased ~~need~~levels toof ~~meet~~operations ~~our~~going ~~working~~forward ~~capital requirements~~will ~~and~~result toin ~~make~~more ~~capital~~significant ~~investments~~cash inflow ~~connection~~and ~~with~~in ~~ongoing~~turn ~~operations~~working capital.

~~Cash~~We depend substantially on operating activities to ~~Used~~provide us with the liquidity and capital resources we need to meet our working capital requirements and to make capital investments in connection ~~Operating~~with ~~Activities~~ongoing operations.

~~For the~~Cash ~~year~~Used ~~ended December 31, 2023 and 2022, net cash used~~ in ~~operating~~Operating ~~activities was $124,661 and $59,529. The cash used in operating activities was mainly for payment of sales and marketing and general and administrative expenses.~~Activities

14For the year ended December 31, 2024 and 2023, net cash used in operating activities was $39,982 and $124,661. The cash used in operating activities was mainly for payment of sales and marketing and general and administrative expenses.

~~Cash Provided by Financing Activities~~14

~~For the~~Cash ~~year~~Provided ~~ended December 31, 2023, net cash provided~~ by ~~financing~~Financing activities was $20,000. For the year ended December 31, 2022, net cash provided by financing activities was $0. The financing cash flow performance primarily reflects the share subscription received in advance.Activities

~~Cash~~For the year ended December 31, 2024, net cash provided ~~(Used~~by ~~in)~~financing /activities ~~Provided~~was $22,500. For the year ended December 31, 2023, net cash provided by ~~Investing~~financing ~~Activities~~activities was $20,000. The financing cash flow performance primarily reflects the share subscription received in advance.

~~For the~~Cash ~~financial~~Provided ~~year ended December 31, 2023, the net cash used in investing activities was $650. For the financial year ended December 31, 2022, the net cash provided~~ by ~~investing~~/ ~~activities~~(Used ~~was $200. The investing cash flow performance primarily reflects the investment~~ in) ~~other~~Investing ~~companies.~~Activities

~~Credit~~For the financial year ended December 31, 2024, the ~~Facilities~~net cash provided by investing activities was $650. For the financial year ended December 31, 2023, the net cash used in investing activities was $650. The investing cash flow performance primarily reflects the divestment or investment in other companies.

~~We do~~Credit ~~not have any credit facilities or other access to bank credit.~~Facilities

~~Critical Accounting~~We ~~Policies~~do ~~and~~not ~~Estimates~~have any credit facilities or other access to bank credit.

~~Use of~~Critical ~~estimates~~Accounting Policies and Estimates

~~Management uses~~Use ~~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.

15Management 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.

~~Accounts receivable~~15

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts. 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 an adjustment to 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.

~~Revenue~~Accounts receivable are recorded at the invoiced amount ~~recognition~~less an allowance for any uncollectible accounts. 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 an adjustment to 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.

~~Financial Accounting~~Revenue ~~Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue~~ recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.

~~Revenue~~In isaccordance ~~measured~~with atFinancial ~~the~~Accounting ~~fair~~Standards ~~value~~Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the ~~consideration~~contracts ~~received~~or agreements with a customer, (2) identifying our performance obligations in the contract or ~~receivable~~agreement, ~~net~~(3) ofdetermining ~~discounts~~the ~~and~~transaction ~~taxes~~price, ~~applicable~~(4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company ~~derives~~only ~~its~~applies ~~revenue~~the ~~from~~five-step ~~provision~~model ofto contracts ~~business~~when ~~mentoring,~~it ~~nurturing,~~is ~~incubating~~probable ~~and~~that ~~corporate~~the ~~development~~Company ~~advisory~~will ~~services~~collect the consideration it is entitled to ~~ICT~~ ~~and~~in ~~technology-based~~exchange ~~companies~~for the services it transfers to its clients.

~~Income~~Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of business mentoring, nurturing, incubating and corporate development advisory services to ICT and technology-based companies.

~~Income taxes~~Off-Balance ~~are~~Sheet determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.Arrangements

~~ASC 740~~The ~~prescribes~~Company 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 ano ~~greater~~off-balance ~~than~~sheet ~~50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.~~arrangements

16ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

~~Foreign~~We are a smaller reporting company as defined by Rule ~~currencies~~12b-2 ~~translation~~of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

~~The reporting~~ITEM ~~currency~~8. ofFINANCIAL ~~the~~STATEMENTS ~~Company~~AND ~~and~~SUPPLEMENTARY its subsidiaries in Labuan and Hong Kong, are United States Dollars (“US$”), while its subsidiaries in Malaysia, maintains the books and record in Ringgit Malaysia (“MYR”), being the primary currency of the economic environment in which these entities operate.DATA

~~Transactions denominated~~The infinancial ~~currencies~~statements ~~other~~required ~~than~~by ~~the~~this ~~functional~~item ~~currency~~ are ~~translated into the functional currency at the exchange rates~~ ~~prevailing~~located atin ~~the~~PART ~~dates~~IV of ~~the~~this ~~transaction.~~Annual 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 and the equity accounts are translated at historical ratesReport. ~~The resulting exchange differences are recorded in the statements of operations.~~

~~In general,~~ITEM for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date9. ~~Revenues~~CHANGES ~~and~~IN ~~expenses~~AND ~~are~~DISAGREEMENTS ~~translated~~WITH atACCOUNTANTS ~~average~~ON ~~rates~~ACCOUNTING ~~prevailing~~AND ~~during~~FINANCIAL the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.DISCLOSURE

~~Translation of amounts from MYR and HK$ into US$1 has been made at the following exchange rates for the respective periods:~~None.

	As of and for the year ended December 31,
	2023		2022
Year-end MYR : US$1 exchange rate		4.59		4.40
Year-average MYR: US$1 exchange rate		4.56		4.40
Year-end HK$ : US$1 exchange rate		7.81		7.81
Year-average HK$ : US$1 exchange rate		7.83		7.83

ITEM 9A. CONTROLS AND PROCEDURES

~~Related parties~~Disclosures Control and Procedures

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.16

17Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, the company’s principal executive and principal financial officers and effected by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

~~Off-Balance Sheet~~● ~~Arrangements~~Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; ● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and ● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.

~~The~~Because of its inherent limitations, internal control ~~Company~~over ~~has~~financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no ~~off-balance~~matter ~~sheet~~how ~~arrangements~~well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

~~ITEM~~As of December 31, 2024, management assessed the effectiveness 7Aof our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control—Integrated Framework (ICIF-2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and SEC guidance on conducting such assessments. ~~QUANTITATIVE~~Based ~~AND~~on ~~QUALITATIVE~~such ~~DISCLOSURES~~evaluation, the ~~ABOUT~~Company’s ~~MARKET~~management ~~RISK~~concluded that, during the period covered by this Report, internal controls and procedures over were not effective. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

~~We are~~Identified aMaterial ~~smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.~~Weakness

~~ITEM~~A material weakness in internal control over financial 8.reporting ~~FINANCIAL~~is ~~STATEMENTS~~a ~~AND~~control ~~SUPPLEMENTARY~~deficiency, ~~DATA~~or combination of control deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected.

~~The financial~~Management ~~statements~~identified ~~required~~the byfollowing ~~this~~material ~~item~~weakness during ~~are~~its ~~located~~assessment inof ~~PART~~internal IVcontrols over financial reporting as of ~~this~~December ~~Annual~~31, ~~Report~~2024.

~~ITEM~~We do not have adequate segregation of duties and 9.effective ~~CHANGES~~risk INassessment ~~AND~~– ~~DISAGREEMENTS~~Lack ~~WITH~~of ~~ACCOUNTANTS~~segregation ONof ~~ACCOUNTING~~duties ~~AND~~and ~~FINANCIAL~~effective ~~DISCLOSURE~~risk assessment may cause the Company to face the likelihood of fraud or theft, due to poor oversight, governance and review to detect errors.

~~None~~Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

~~ITEM 9A. CONTROLS AND PROCEDURES~~17

~~Disclosures~~As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of December 31, 2024 based on criteria established in in COSO Internal Control ~~and~~- ~~Procedures~~Integrated Framework (ICIF-2013).

18Management’s Remediation Initiatives

~~Our management~~In isan ~~responsible~~effort ~~for~~to ~~establishing~~remediate ~~and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under~~ the ~~Exchange~~identified ~~Act as a process designed by, or under the~~material ~~supervision~~weaknesses ~~of, the company’s principal executive~~ and ~~principal~~other ~~financial~~deficiencies ~~officers~~ and ~~effected~~enhance byour ~~the~~internal ~~company’s board of directors~~controls, ~~management~~we ~~and~~have ~~other personnel~~initiated, toor ~~provide~~plan ~~reasonable~~to ~~assurance~~initiate, ~~regarding~~ the ~~reliability~~following ofseries ~~financial reporting and the preparation~~ of ~~financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that~~measures:

● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; ● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and ● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.

1.	We plan to create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function. The accounting personnel is responsible for reviewing the financing activities, facilitate the approval of the financing, record the information regarding the financing, and submit SEC filing related documents to our legal counsel in order to comply with the filing requirements of SEC.

2.	We intend to add staff members to our management team for making sure that information required to be disclosed in our reports filed and submitted under the Exchange Act is recorded, processed, summarized and reported as and when required and will the staff members will have segregated responsibilities with regard to these responsibilities.

~~Because of~~We ~~its~~anticipate ~~inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk~~ that ~~controls~~these ~~may~~initiatives ~~become~~will inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be ~~effective~~at ~~can provide only reasonable assurance with respect~~least ~~to financial statement preparation and presentation. Because of the inherent limitations of internal control~~partially, ~~there~~if ~~is a risk that material misstatements may~~ not befully, ~~prevented~~implemented ~~or detected on a timely basis~~ by ~~internal~~the ~~control~~end ~~over financial reporting. However, these inherent limitations are known features~~ of ~~the~~fiscal ~~financial~~year ~~reporting process~~2025. ~~Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.~~

~~As of~~Changes ~~December 31, 2023, management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established~~ in Internal Control—Integrated Framework (ICIF-2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and SEC guidance on conducting such assessments. Based on such evaluation, the Company’s management concluded that, during the period covered by this Report, internal controls ~~and procedures~~ over ~~were not effective. This was due to deficiencies that existed in the design or operation of our internal controls over~~ financial reporting ~~that adversely affected our internal controls and that may be considered to be material weaknesses.~~

~~Identified~~There was no change in our internal controls over ~~Material~~financial ~~Weakness~~reporting that occurred during the period covered by this Report, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting:

AThis annual report does not include an attestation ~~material~~report ~~weakness~~of inthe Company’s registered independent public accounting firm regarding internal control over financial reporting. isManagement’s report awas ~~control~~not ~~deficiency,~~subject orto ~~combination~~attestation ofby ~~control~~the ~~deficiencies,~~Company’s ~~that results~~registered inindependent ~~more~~public ~~than~~accounting afirm ~~remote~~pursuant ~~likelihood~~to ~~that~~rules aof ~~material~~the ~~misstatement~~Securities and ofExchange Commission that permit the ~~financial~~Company ~~statements~~to ~~will~~provide ~~not~~only bemanagement’s ~~prevented~~report orin ~~detected~~this Annual Report on Form 10-K.

~~Management identified~~ITEM ~~the~~9B. ~~following~~OTHER ~~material weakness during its assessment of internal controls over financial reporting as of December 31, 2023.~~INFORMATION

We do not have adequate segregation of duties and effective risk assessment – Lack of segregation of duties and effective risk assessment may cause the Company to face the likelihood of fraud or theft, due to poor oversight, governance and review to detect errorsNone.

~~Accordingly, the~~PART Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.III

19ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

~~As a~~Our ~~result~~executive ofofficers ~~the~~and ~~material~~directors ~~weaknesses~~and ~~described~~their ~~above, management has concluded that the Company did not maintain effective internal control~~respective ~~over~~ages ~~financial reporting~~ as of ~~December~~the ~~31,~~date ~~2023~~hereof ~~based~~are onas ~~criteria established in in COSO Internal Control - Integrated Framework (ICIF-2013).~~follows:

Management’s Remediation Initiatives

NAME	AGE	POSITION
Chin Chee Seong	64	Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, Director
Tan See Meng	60	Director
Cheah Kok Hoong	58	Independent Non-Executive Director
Prabodh Kumar A/L Kantilal H. Sheth (1)	62	Chief Financial Officer

~~In an~~(1) ~~effort~~Mr. toPrabodh ~~remediate~~Kumar ~~the~~A/L ~~identified~~Kantilal ~~material~~H. ~~weaknesses~~Sheth ~~and~~tendered ~~other~~resignation ~~deficiencies~~as ~~and~~the ~~enhance~~Chief ~~our~~Financial ~~internal~~Officer ~~controls,~~on weMay ~~have initiated~~8, or ~~plan to initiate, the following series of measures:~~2024.

We plan to create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function. The accounting personnel is responsible for reviewing the financing activities, facilitate the approval of the financing, record the information regarding the financing, and submit SEC filing related documents to our legal counsel in order to comply with the filing requirements of SEC.

We intend to add staff members to our management team for making sure that information required to be disclosed in our reports filed and submitted under the Exchange Act is recorded, processed, summarized and reported as and when required and will the staff members will have segregated responsibilities with regard to these responsibilities.

Set forth below is a brief description of the background and business experience of our executive officers and directors for the past five years.

~~We anticipate that these initiatives will be at least partially, if not fully, implemented by the end of fiscal year 2024.~~18

~~Changes~~Mr. Chin Chee Seong – President, Chief inExecutive ~~internal~~Officer, ~~controls~~Chief ~~over~~Financial ~~financial~~Officer, ~~reporting~~Secretary, Treasurer, Director

~~There~~Mr. Chin Chee Seong achieved ~~was~~a noBachelor ~~change~~Degree with Honours in ~~our~~Electrical, ~~internal~~Electronic ~~controls~~and ~~over~~Communication ~~financial~~Engineering ~~reporting~~from ~~that~~National ~~occurred~~University ~~during~~of Malaysia (UKM) in 1985. He was the ~~period~~councilor ~~covered~~and bypast ~~this~~chairman ~~Report,~~of ~~which~~the ~~has~~National ~~materially~~ICT Association of Malaysia (PIKOM). He was appointed as the Honorary Chairman ~~affected~~of PIKOM and is currently the Advisor of PIKOM. Additionally, orMr. Chin is ~~reasonably~~also ~~likely~~a toNational ~~materially~~Vice ~~affect~~President of SME Association of Malaysia, National ~~our~~President ~~internal~~of ~~controls~~the ~~over~~Malaysia ~~financial~~Cross ~~reporting:~~Boarder E-Commerce Association and Deputy Chairman of the Financial and Capital Market Committee of the Chinese Chamber of Commerce & Industry of Kuala Lumpur & Selangor (KLSCCCI).

~~This~~Mr. Chin served as a technical ~~annual~~engineer/technical ~~report~~manager ~~does~~of ~~not~~Seniko ~~include~~Sdn. anBhd. ~~attestation~~from ~~report~~1985 ofto ~~the~~1996. ~~Company’s~~Seniko ~~registered~~Sdn. ~~independent~~Bhd. ~~public~~is ~~accounting~~a ~~firm~~third-party ~~regarding~~maintenance ~~internal~~company which provides ~~control~~maintenance ~~over~~services ~~financial~~relating ~~reporting.~~to ~~Management’s~~technology, ~~report~~computer ~~was~~systems, ~~not~~hardware ~~subject~~and software. From 1996 to ~~attestation~~2000 byhe was the ~~Company’s~~General ~~registered~~Manager ~~independent~~of ~~public~~Telekom ~~accounting~~Equipment ~~firm~~Malaysia, ~~pursuant~~a subsidiary of Telekom Malaysia Bhd. From 2000 to ~~rules~~2006 ofMr. ~~the~~Chin ~~Securities~~served ~~and~~as ~~Exchange~~Chief ~~Commission~~Executive ~~that~~Officer ~~permit~~of ~~the~~JOC Technology, ~~Company~~a tofull-service ~~provide~~application ~~only~~service ~~management~~provider. The Company’s ~~report~~ inservices ~~this~~include ~~Annual~~virtual ~~Report~~domain onhosting, ~~Form~~virtual 10domain e-Kmail services, and on-line e-commerce services.

~~ITEM~~From 2007 to present, Mr. 9BChin has served as the Chief Executive Officer of Gonzo Rosso Malaysia, a wholly owned subsidiary of Japan listed company, Gonzo Rosso K.K., ~~OTHER~~which ~~INFORMATION~~focused on the online gaming business, specifically operates online games and sells weapons and items used in games. Additionally, from 2014 to 2016, he was a Non-Executive Director of Galasys Plc., a company that provides information technology solutions and management services for the amusement industry which including ticketing management, admission control, theatre ticket management, online e-commerce, membership management, e-commerce, and e-wallet systems. Mr. Chin also served as Independent & Non-Executive Director at M-Mode Bhd, a digital contents and media company that offers contents through the engagement of devices and media, from August 14, 2009 to June 7, 2012.

~~None~~Due to Mr. Chin’s decades of experience in the ICT industry and his seven years of experience in Online Gaming Industry, the board of Directors has determined to elect Mr. Chin to the positions of Chief Executive Officer, President, Secretary, Treasurer, and Director.

~~PART III~~Mr. Tan See Meng – Director

~~ITEM 10~~Mr. ~~DIRECTORS,~~Tan ~~EXECUTIVE~~See ~~OFFICERS~~Meng ~~AND~~is ~~CORPORATE~~the ~~GOVERNANCE~~Chief Financial Officer of Edubest Resources Sdn Bhd and Just Supply Chain Sdn Bhd.

~~Our~~Mr. Tan is a Chartered Accountant ~~executive~~of ~~officers~~the ~~and~~Malaysian ~~directors~~Institute ~~and~~of ~~their~~Accountants ~~respective~~(MIA), ~~ages~~a asfellow member of ~~the~~Association ~~date~~of ~~hereof~~Chartered ~~are~~Certified asAccountants ~~follows:~~(FCCA).

NAME	AGE	POSITION
Chin Chee Seong	63	Chief Executive Officer, President, Secretary, Treasurer, Director
Seah Kok Wah (1) (6)	56	Director
Tan See Meng (2)	59	Director
Cheah Kok Hoong (6)	57	Independent Non-Executive Director
Louis Ramesh Ruben (3) (6)	46	Independent Non-Executive Director
Tan Hock Chye (4)	64	Chief Financial Officer
Prabodh Kumar A/L Kantilal H. Sheth (5)	61	Chief Financial Officer

Mr. Tan has more than 20 years of experience in accounting and finance field. He has hands on experience in several corporate exercises such as restructuring exercise, due diligence, merger and acquisitions. During his employment with Edubest Resources Sdn Bhd, he managed the operations in Malaysia with adoption of transfer pricing and the application of tax export incentives, resulting in impressive effective tax rates between 5% to 8% during 2011 to 2013.

	(1)	Mr. Seah Kok Wah tendered resignation as Director and member of the Audit Committee, effective on December 13, 2023.
	(2)	Mr. Tan See Meng was appointed as Executive Director, effective on December 14, 2023.
	(3)	Mr. Louis Ramesh Ruben tendered resignation as Independent Non-Executive Director and member of the Audit Committee, effective on December 13, 2023.
	(4)	Mr. Tan Hock Chye tendered resignation, serving a two-month notice period as the Chief Financial Officer, effective on November 1, 2023.
	(5)	Mr. Prabodh Kumar A/L Kantilal H. Sheth was appointed as Chief Financial Officer, effective on December 14, 2023 took over from Mr. Tan Hock Chye. On May 8, 2024, Mr. Prabodh Kumar A/L Kantilal H. Sheth tendered resignation as the Chief Financial Officer.
	(6)	As of January 1, 2023, our Audit Committee comprised three members: Mr. Seah Kok Wah, Mr. Louis Ramesh Ruben and Mr. Cheah Kok Hoong. On December 13, 2023, Mr. Seah Kok Wah and Mr. Louis Ramesh Ruben resigned as member of the Committee.

~~Set forth~~Mr. ~~below~~Cheah isKok aHoong ~~brief~~– ~~description~~Independent ~~of the background and business experience of our executive officers and directors for the past five~~Non-Executive ~~years.~~Director

20Mr. Cheah Kok Hoong is a former Group Chief Executive Director of Hitachi Sunway Information System, better known as Hitachi Sunway, that thrived in providing ICT and digital solutions and services in ASEAN. Mr. Cheah’s career span over 30 years and have garnered experience across various industries including business development, mergers and acquisition, business strategy development, regional expansion, and process engineering across various verticals such as information technology, venture capital, conglomerates, manufacturing, and the service industry. Additionally, he holds various professional positions which includes the IT advisor to the Sunway Group, Director of Powerware Systems, and General Partner of Sun SEA Capital. Mr. Cheah is also the Honorary Chairman of the Malaysia Cross Border E-Commerce Association (MCBEA) since 2019, as well as a Member of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) under the Finance and Capital Market Consultative Committee since 2018. He is currently the Executive Chairman of SteerQuest Sdn Bhd, Managing Director of SQ Digital Vision Group Sdn. Bhd. and the Chief Executive Officer of Cognitive Digital Sdn Bhd. In addition, he is also an Advisor for the Aerospace Engineering Edutech, Angkasa-X Holding.

Mr. Cheah also serves as ~~Chin~~an ~~Chee~~Industrial ~~Seong~~Advisory –Board ~~President~~(IAB) member on both SoftwareONE and Sunway University, ~~Chief~~where ~~Executive~~he ~~Officer~~is dedicated to his role as the Sunway University Business School’s Adjunct Practice Professor. Furthermore, ~~Secretary~~he is also an IAB member on various boards within Sunway University itself, including ~~Treasurer~~the Department of Computing and Information Systems, ~~Director~~the School of Science and Technology, specifically the Research Centre for Nano-Materials and Energy Technology. In addition, Mr. Cheah is also an External Industry Committee Member for Master of Business Analytics in the Department of Business Analytics.

Mr. ~~Chin~~ ~~Chee~~Cheah ~~Seong~~is ~~achieved~~also aan ~~Bachelor~~instrumental force ~~Degree~~that ~~with~~has ~~Honours~~been indriving ~~Electrical,~~the ~~Electronic~~growth ~~and~~of ~~Communication~~the ~~Engineering~~Malaysian ~~from~~ICT ~~National~~industry ~~University of~~as ~~Malaysia~~he ~~(UKM)~~is inhad ~~1985.~~also Hepreviously ~~was~~served as the ~~councilor~~Chairman ~~and past chairman~~ of ~~the~~PIKOM (The National ~~ICT~~Tech Association of Malaysia ~~(PIKOM~~). Hebetween ~~was~~2013 ~~appointed~~ to 2015 as ~~the~~well ~~Honorary~~as the Chairman of ~~PIKOM~~Human ~~and~~Capital isDevelopment, ~~currently~~a ~~the~~Chapter ~~Advisor~~within of PIKOM. As ~~Additionally~~of today, ~~Mr.~~he ~~Chin~~ is ~~also~~ a ~~National~~renowned ~~Vice~~advisor ~~President~~to ~~of SME~~PIKOM’s ~~Association~~various ofsectors ~~Malaysia~~and initiatives, ~~National~~namely ~~President~~Cybersecurity, ofVenture Investment, and the ~~Malaysia~~World ~~Cross~~Congress ~~Boarder~~on ~~E-Commerce~~Information ~~Association~~Technology ~~and~~(WCIT). ~~Deputy~~On ~~Chairman~~top of ~~the~~that, ~~Financial and~~he ~~Capital~~also ~~Market~~serves ~~Committee~~as of the ~~Chinese~~Chairman ~~Chamber~~ of ~~Commerce~~OM &(formerly ~~Industry~~known ofas ~~Kuala~~Outsourcing Malaysia) ~~Lumpur~~in ~~& Selangor (KLSCCCI)~~PIKOM.

Mr. ~~Chin~~ ~~served~~Cheah’s aspast ~~a technical engineer/technical manager of Seniko Sdn. Bhd. from 1985 to 1996. Seniko Sdn. Bhd. is a third-party maintenance~~achievements ~~company~~include ~~which~~his ~~provides~~induction ~~maintenance~~into ~~services~~the ~~relating~~PLC toHall ~~technology,~~of ~~computer~~Fame ~~systems,~~for ~~hardware~~his leadership and ~~software.~~stewardship ~~From~~in ~~1996~~promoting ~~to 2000 he was~~ the ~~General~~PLC ~~Manager~~Leadership ofprogramme ~~Telekom~~as ~~Equipment~~part ~~Malaysia, a subsidiary~~ of the ~~Telekom~~National ~~Malaysia~~ICT ~~Bhd.~~Certification ~~From~~& ~~2000~~Standardization toGrid ~~2006~~(NICS ~~Mr.~~Competence ~~Chin~~Grid), ~~served~~and asthe ~~Chief~~conferment ~~Executive Officer~~ of ~~JOC Technology, a full-service application service provider. The Company~~PIKOM’s ~~services~~CIO ~~include~~Excellence ~~virtual~~Award for ~~domain~~his ~~hosting, virtual~~outstanding ~~domain~~leadership ~~e-mail~~in ~~services,~~the ~~and~~ICT ~~on-line~~adoption ~~e-commerce~~in ~~services~~Sunway Group.

~~From 2007 to present,~~ Mr. ~~Chin~~Cheah ~~has~~holds ~~served as the Chief Executive Officer of Gonzo Rosso Malaysia,~~ a ~~wholly owned subsidiary~~ Bachelor of ~~Japan~~Science ~~listed company,~~in ~~Gonzo~~Computer ~~Rosso~~Science ~~K.K.,~~& ~~which~~Physics ~~focused on the online gaming business, specifically operates online games and sells weapons and items used in games. Additionally,~~ from ~~2014~~Campbell ~~to 2016~~University, heUSA ~~was a Non-Executive Director of Galasys Plc., a company that provides information technology solutions~~ and ~~management~~Tunku ~~services~~Abdul ~~for~~Rahman ~~the~~University ~~amusement industry which including ticketing management~~College, ~~admission control~~Malaysia, ~~theatre~~since ~~ticket management, online e-commerce, membership management, e-commerce, and e-wallet systems~~1990. Mr. Chin also served as Independent & Non-Executive Director at M-Mode Bhd, a digital contents and media company that offers contents through the engagement of devices and media, from August 14, 2009 to June 7, 2012.

Due to Mr. Chin’s decades of experience in the ICT industry and his seven years of experience in Online Gaming Industry, the board of Directors has determined to elect Mr. Chin to the positions of Chief Executive Officer, President, Secretary, Treasurer, and Director.20

Mr. ~~Seah~~ ~~Kok~~Prabodh ~~Wah~~Kumar A/L Kantilal H. Sheth – Chief ~~Director~~Financial Officer

Mr. ~~Seah~~ ~~Kok~~Sheth ~~Wah~~ is the current Chief ~~Deputy~~Executive ~~Chairman~~Officer of ~~the~~ICEE ~~National~~International ~~ICT~~Sdn. ~~Association~~Bhd. ofand ~~Malaysia~~Chief ~~(PIKOM)~~Operations ~~and~~Officer ~~Vice~~of ~~President~~Cognitive ofDigital ~~the~~Sdn. ~~Malaysia~~Bhd. ~~Cross Border~~With ~~E-Commerce~~a ~~Association~~solid ~~(MCBEA).~~educational foundation Hein isaccounting, ~~also~~he is a ~~board~~Certified ~~member~~Public ofAccountant ~~The~~(AICPA) ~~World~~from ~~Information~~the ~~Technology~~USA, and ~~Services~~was ~~Alliance~~a ~~(WITSA),~~finance ~~a leading~~and ~~consortium~~computer ofauditor ~~ICT~~with ~~industry~~Arthur Andersen. ~~association~~His ~~members~~subsequent ~~from~~12 ~~over~~years 80in ~~global~~software ~~economies.~~development Heuniquely ~~graduated~~positioned him with a ~~Master’s~~deep ~~Degree~~understanding inof ~~Computer Science~~merging ~~from~~business ~~California~~processes with ~~State~~software ~~University~~solutions, ~~United~~as ~~States~~well ofas ~~America~~an appreciation for engineering technologies supporting delivery operations, inand ~~1996~~web and client-facing applications.

Mr. ~~Seah~~ ~~began his career in Silicon Valley as a software applications developer for Software Publishing Corporation and Netscape Communications~~Prabodh ~~Corporation,~~Kumar ~~from~~A/L ~~1994~~Kantilal ~~to 1997~~H. ~~Mr.~~Sheth ~~Seah~~tendered ~~joined~~resignation ~~Sun~~as ~~Microsystem Inc., an American company that sold computers, computer components, software, and information technology services and created~~ the ~~Java~~Chief ~~programming~~Financial ~~language,~~Officer ~~the~~on ~~Solaris~~May ~~operating system~~8, ~~ZFS, the Network File System, and SPARC, from 1997 to 2003 and held the position of Sun Professional Services Business Operation & Channels Management of Greater China~~2024.

~~Mr. Seah~~Involvement ~~co-founded several companies including Bimbit.com Sdn. Bhd.~~ in ~~2005,~~Certain ~~Afor~~Legal Pte Ltd Singapore in 2002 which floated on the Singapore Stock Exchange in 2008 and subsequently rebranded as “EpiCentre Holdings Ltd”. Mr. Seah Kok Wah was also one of the co-founders of Galasys PLC in 2010 that was floated on the London Stock Exchange in 2014. Galasys PLC provides information technology solutions and management services for the amusement industry as abovementioned. He served as its Chief Executive Officer and Executive Director from 2014 to 2017. Additionally, he has served as Chairman of SCCW Holdings Sdn. Bhd. in 2018 until now.Proceedings

~~Mr. Seah’s~~Our ~~corporate~~Directors ~~management~~ and ~~strategy~~our ~~experience~~Executive inofficers ~~the~~have ~~information~~not been ~~and~~involved ~~computer~~in ~~technology~~any ~~industry has led the Board~~ of ~~Directors to reach~~ the ~~conclusion~~following ~~that~~events heduring ~~should serve as~~ the ~~Chief~~past ~~Investment~~ten ~~Officer and Director of the Company.~~years:

~~On October~~1. 31bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; 2. any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); 3. being subject to any order, ~~2022~~judgment, Mror decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his/her involvement in any type of business, securities or banking activities; or 4. ~~Seah~~being ~~resigned~~found asby ~~Chief~~a ~~Investment~~court ~~Officer~~of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated. 5. Such person was found by a court of competent jurisdiction in a civil action or by the ~~Company~~Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently onreversed, ~~December~~suspended, 13or vacated; 6. Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, ~~2023~~and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, hesuspended ~~resigned~~or vacated; 7. Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:(i) Any Federal or State securities or commodities law or regulation; or(ii) Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or 8. Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as ~~Director~~ defined in Section 3(a)(26) of the ~~Company~~Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

~~Mr. Tan~~Independence ~~See~~of ~~Meng – Director~~Directors

~~Mr. Tan~~The ~~See~~Company ~~Meng~~currently ishas ~~the~~an ~~Chief~~independent ~~Financial~~non-executive director ~~Officer~~as member of ~~Edubest~~our ~~Resources~~Board ~~Sdn~~of ~~Bhd and Just Supply Chain Sdn Bhd~~Directors.

~~Mr. Tan~~Board ~~is a Chartered Accountant of the Malaysian Institute of Accountants (MIA), a fellow member of Association of Chartered Certified Accountants (FCCA).~~Committees

~~Mr. Tan~~Our ~~has~~board ~~more than 20 years~~ of ~~experience~~directors ~~in accounting and finance field. He~~ has ~~hands~~established onan ~~experience~~Audit ~~in several corporate exercises such~~Committee asand ~~restructuring~~adopted ~~exercise,~~written ~~due~~charters ~~diligence,~~for ~~merger~~the ~~and acquisitions~~committee. ~~During~~Copy ~~his~~of ~~employment with Edubest Resources Sdn Bhd, he managed~~ the ~~operations~~ incharter ~~Malaysia~~is ~~with~~available ~~adoption~~on ofour ~~transfer~~website ~~pricing~~ and ~~the~~our ~~application~~board of ~~tax~~directors ~~export~~may ~~incentives,~~establish other ~~resulting~~committees inas ~~impressive~~it ~~effective tax~~deems ~~rates~~necessary ~~between~~or 5%appropriate tofrom 8%time ~~during 2011~~ to ~~2013~~time.

OnAudit ~~December 14, 2023, Mr. Tan was appointed as Executive Director of the Company.~~Committee

~~Mr. Cheah~~Our ~~Kok~~Audit ~~Hoong~~Committee –comprised ~~Independent~~of ~~Non~~our independent non-~~Executive~~executive director: ~~Director~~Mr. Cheah Kok Hoong.

~~Mr. Cheah~~According ~~Kok~~to ~~Hoong~~the isAudit aCommittee ~~former Group Chief Executive Director of Hitachi Sunway Information System~~Charter, ~~better~~the ~~known as Hitachi Sunway, that~~Audit ~~thrived~~Committee inconsists ~~providing~~of ~~ICT~~at ~~and~~least ~~digital~~three ~~solutions~~Board ~~and~~members ~~services in ASEAN. Mr. Cheah’s career span over 30 years~~ and have garnered experience across various industries including business development, mergers and acquisition, business strategy development, regional expansion, and process engineering across various verticals such asmembers ~~information~~shall ~~technology,~~constitute ~~venture~~at ~~capital,~~least ~~conglomerates,~~a ~~manufacturing,~~majority ~~and~~of the ~~service~~ ~~industry.~~Company’s ~~Additionally, he holds various professional positions which includes the IT advisor to the Sunway Group, Director of~~independent ~~Powerware~~non-executive ~~Systems, and General Partner of Sun SEA Capital~~directors. ~~Mr.~~The ~~Cheah~~Company’s iswebsite ~~also~~contains ~~the Honorary Chairman of the Malaysia Cross Border E-Commerce Association (MCBEA) since 2019, as well as~~ a ~~Member~~copy of the ~~Associated~~Audit ~~Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) under the Finance and Capital Market Consultative~~ Committee ~~since 2018~~Charter. HeThe isAudit ~~currently~~Committee ~~the~~Charter ~~Executive Chairman of SteerQuest Sdn Bhd,~~describes ~~Managing Director of SQ Digital Vision Group Sdn. Bhd. and~~ the ~~Chief~~primary ~~Executive~~functions ~~Officer~~ of ~~Cognitive~~the ~~Digital~~Audit ~~Sdn Bhd. In addition~~Committee, ~~he is~~including ~~also an Advisor for~~ the ~~Aerospace Engineering Edutech, Angkasa-X Holding.~~following:

~~Mr. Cheah~~● ~~also~~Oversee ~~serves~~the asCompany’s anaccounting ~~Industrial~~and ~~Advisory~~financial ~~Board~~reporting ~~(IAB)~~processes; ~~member~~● onOversee ~~both~~audits ~~SoftwareONE~~of the Company’s financial statements; ● Discuss policies with respect to risk assessment and ~~Sunway~~risk ~~University~~management, ~~where~~and hediscuss isthe ~~dedicated~~Company’s major financial risk exposures and the steps management has taken to ~~his role~~monitor asand control such exposures; ● Review and discuss with management the ~~Sunway~~Company’s ~~University~~audited ~~Business~~financial ~~School~~statements and review with management and the Company’s ~~Adjunct~~independent ~~Practice~~registered ~~Professor~~public accounting firm the Company’s financial statements prior to the filing with the SEC of any report containing such financial statements. ~~Furthermore,~~● heRecommend isto ~~also~~the anboard ~~IAB~~that ~~member~~the Company’s audited financial statements be included in its annual report on ~~various~~Form ~~boards within~~10-K ~~Sunway~~for ~~University~~the ~~itself~~last fiscal year; ● Meet separately, ~~including~~periodically, with management, with the ~~Department~~Company’s ofinternal ~~Computing~~auditors ~~and~~(or ~~Information~~other ~~Systems,~~personnel responsible for the ~~School~~internal ofaudit ~~Science~~function) and ~~Technology, specifically~~with the ~~Research~~Company’s ~~Centre~~independent registered public accounting firm; ● Be directly responsible for ~~Nano-Materials~~the appointment, compensation, retention and ~~Energy~~oversight ~~Technology.~~of Inthe ~~addition,~~work ~~Mr.~~of ~~Cheah~~any isindependent ~~also~~registered anpublic ~~External~~accounting ~~Industry~~firm ~~Committee Member~~engaged to prepare or issue an audit report for ~~Master~~the ofCompany; ~~Business~~● ~~Analytics~~Take, inor recommend that the ~~Department~~board take, appropriate action to oversee and ensure the independence of ~~Business~~the ~~Analytics~~Company’s independent registered public accounting firm; and ● Review major changes to the Company’s auditing and accounting principles and practices as suggested by the Company’s independent registered public accounting firm, internal auditors or management.

~~Mr. Cheah~~Code ~~is also an instrumental force that has been driving the growth~~ of the Malaysian ICT industry as he is had also previously served as the Chairman of PIKOM (The National Tech Association of Malaysia) between 2013 to 2015 as well as the Chairman of Human Capital Development, a Chapter within PIKOM. As of today, he is a renowned advisor to PIKOM’s various sectors and initiatives, namely Cybersecurity, Venture Investment, and the World Congress on Information Technology (WCIT). On top of that, he also serves as the Chairman of OM (formerly known as Outsourcing Malaysia) in PIKOM.Ethics

~~Mr. Cheah’s~~Our ~~past~~board ~~achievements~~of ~~include~~directors ~~his~~has ~~induction~~adopted ~~into~~a ~~the~~code ~~PLC~~of ~~Hall~~ethics that ofapplies ~~Fame~~to ~~for~~all ~~his~~our ~~leadership~~directors, officers and ~~stewardship~~employees, inincluding ~~promoting~~our ~~the~~principal ~~PLC~~executive officer, principal financial officer and ~~Leadership~~principal ~~programme~~accounting asofficer. ~~part~~The ofcode ~~the~~addresses, ~~National~~among ~~ICT~~other ~~Certification~~things, &honesty ~~Standardization~~and ~~Grid~~ethical ~~(NICS~~conduct, ~~Competence~~conflicts ~~Grid)~~of interest, compliance with laws, regulations and policies, including disclosure requirements under the ~~conferment~~federal securities laws, confidentiality, trading on inside information, and reporting of ~~PIKOM’s~~violations ~~CIO~~of ~~Excellence~~the ~~Award~~code. ~~for~~The ~~his~~code ~~outstanding~~of ~~leadership~~ethics inis ~~the~~available ~~ICT~~on ~~adoption~~the inCompany’s ~~Sunway~~website ~~Group~~at https://www.seatech-ventures.com/.

~~Mr. Cheah~~Shareholder ~~holds a Bachelor of Science in Computer Science & Physics from Campbell University, USA and Tunku Abdul Rahman University College, Malaysia, since 1990.~~Proposals

MrOur Company does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors. The Board of Directors believes that, given the ~~Louis~~stage ~~Ramesh~~of ~~Ruben~~our –development, ~~Independent~~a ~~Non-Executive~~specific ~~Director~~nominating policy would be premature and of little assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such nominees. The Board of Directors will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

~~Mr. Louis~~A isshareholder awho ~~Chartered~~wishes ~~Accountant~~to ofcommunicate ~~the~~with ~~Malaysian~~our ~~Institute of Accountants (MIA), a fellow member of Association of Chartered Certified~~Board ~~Accountants (FCCA), a chartered member~~ of ~~the~~Directors ~~Institute~~may ofdo ~~Internal~~so ~~Auditors,~~by asdirecting ~~well as~~ a ~~Certified~~written ~~Financial~~request ~~Planner.~~addressed ~~Mr. Louis has over 20 years of experience in accounting, auditing and risk management ranging from large public listed companies~~ to ~~multinational~~our ~~corporations~~President, ~~government~~ ~~agencies as well as SME’s in a spectrum of industries including plantation, property development, manufacturing, trading, IT, shipping, retailing, etc. He started his career~~ at ~~Arthur~~the ~~Andersen,~~address ~~and~~appearing ~~subsequently moved to BDO. He also has experience in corporate finance with Southern Investment Bank Berhad. Mr. Louis has hands-~~on experience on other corporate exercises such as due diligence, IPO’s, issuance of bonds, corporate & debt restructuring and investigative audit. His training and advisory experience includes topics on Internal & Statutory Auditing, Public Sector/Government Audits, Value-for-Money Audits, ISQC 1, Risk Management & Internal Controls, Review and Assurance Engagements such as Financial Due Diligence, Forecasts & Projections, Forensic & Fraud Accounting/Auditing, as well as practical application of International Financial Reporting Standards (“IFRS”), Reporting Standards for SMEs (MPERS/PERS) and public sector accounting (MPSAS). He has facilitated training and provided advisory for public accountants across Asia Pacific, multinationals and public sector institutions. Mr. Louis is a certified trainer by the ~~Human~~first ~~Resource~~page ~~Development Fund (HRDF), Ministry~~ of ~~Human~~this ~~Resources~~Information ~~Malaysia~~Statement.

~~Mr. Louis~~ITEM ~~graduated from National University of Malaysia with a bachelor’s degree in Accounting~~11. HeEXECUTIVE ~~earned an MBA from the University of Strathclyde, United Kingdom, graduated with a distinction in 2012 and a doctorate from University of Malaya in 2021.~~COMPENSATION

OnThe following table sets ~~December~~forth ~~13,~~information ~~2023,~~concerning ~~Mr.~~the ~~Louis~~compensation ~~resigned~~of asour anprincipal ~~Independent~~executive ~~Non-Executive~~officer ~~Director~~and principal financial officer who served at the end of the ~~Company~~year December 31, 2024, for services rendered in all capacities to us.

~~Mr. Tan~~Summary ~~Hock~~Compensation ~~Chye – Chief Financial Officer~~Table:

Mr. Tan Hock Chye is the National Deputy Treasurer of the SME Association of Malaysia as well as the National Treasurer and Council Member of Malaysia Cross Border E-Commerce Association.

Name and Principal Position	Period		Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-Equity Incentive Plan Compensation ($)		Nonqualified Deferred Compensation Earnings ($)		All Other Compensation ($)		Total ($)
Chin Chee Seong, Chief Executive Officer, President, Secretary, Treasurer, Director		For the year ended December 31, 2024		15,000		-		-		-		-		-		-		15,000
		For the year ended December 31, 2023		14,669		-		-		-		-		-		-		14,669

Tan See Meng, Director		For the year ended December 31, 2024		-		-		-		-		-		-		6,000		6,000
		For the year ended December 31, 2023		-		-		-		-		-		-		-		-

Prabodh Kumar A/L Kantilal H. Sheth, Chief Financial Officer (1)		For the year ended December 31, 2024		3,750		-		-		-		-		-		-		3,750
		For the year ended December 31, 2023		-		-		-		-		-		-		-		-

(1) Mr. ~~Tan~~ isPrabodh aKumar ~~Chartered~~A/L ~~Global~~Kantilal ~~Management~~H. ~~Accountant~~Sheth oftendered ~~the~~resignation ~~Association of International Certified Professional Accountants, and a Fellow Member of the Chartered Institute of Management Accountants, United Kingdom,~~ as ~~well as a Chartered Accountant with~~ the ~~Malaysian~~Chief ~~Institute of~~Financial ~~Accountants.~~Officer Inon ~~1997,~~May ~~Mr. Tan obtained his Master’s Degree in Business Administration (MBA) from Oklahoma City University~~8, ~~United States of America and he attended Harvard Premier Management Program organized by the Harvard Business School Alumni Club of Malaysia in 2013~~2024.

Mr. Tan has more than 35 years of extensive working experience in both private and public companies in Papua New Guinea, Singapore and Malaysia. The public companies that he has worked for includes Dataprep Holdings Berhad (Bursa Malaysia) as Chief Financial Officer, Chief Operating Officer and Group Managing Director from 2003 to 2018, United Engineers (M) Berhad (Bursa Malaysia) as Head, Finance and Accounting of Trading Division from 1991 to 1994, Malaysian subsidiary of PZ Cussons plc (London Stock Exchange) as Accounting Manager/Local Agent from 1989 to 1991 and the Malaysian associated company of Chuan Hup Holdings Ltd (Singapore Stock Exchange) as Company Accountant/Secretary from 1986 to 1989. Private Companies that Mr. Tan has worked for includes Wardah Communication Sdn. Bhd. as Chief Business Officer from 2018 to 2019, Ken-Air Holdings Sdn. Bhd. as Financial Controller and Chief Executive Officer from 1994 to 2003 and Word Publishing Co. Pty. Ltd. as Management Accountant and Chief Accountant from 1982 to 1985.23

~~On November~~Narrative 1,Disclosure ~~2023,~~to ~~Mr.~~Summary ~~Tan~~Compensation ~~tendered his resignation, serving a two-month notice period as the Chief Financial Officer of the Company.~~Table

MrThere are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. Our directors and executive officers may receive stock options ~~Prabodh~~at ~~Kumar~~the ~~A/L~~discretion ~~Kantilal~~of Hour board of directors in the future. ~~Sheth~~We –do ~~Chief~~not ~~Financial~~have ~~Officer~~any material bonus or profit-sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of our board of directors from time to time. We have no plans or arrangements in respect of remuneration received or that may be received by our executive officers to compensate such officers in the event of termination of employment (as a result of resignation, retirement, change of control) or a change of responsibilities following a change of control.

~~Mr. Sheth~~Stock isOption the current Chief Executive Officer of ICEE International Sdn. Bhd. and Chief Operations Officer of Cognitive Digital Sdn. Bhd. With a solid educational foundation in accounting, he is a Certified Public Accountant (AICPA) from the USA, and was a finance and computer auditor with Arthur Andersen. His subsequent 12 years in software development uniquely positioned him with a deep understanding of merging business processes with software solutions, as well as an appreciation for engineering technologies supporting delivery operations, and web and client-facing applications.Grants

OnWe ~~December~~have ~~14,~~not ~~2023,~~granted ~~Mr.~~any ~~Sheth~~stock ~~was appointed~~options asto ~~Chief~~our ~~Financial~~executive officers ~~Officer~~since ofour ~~the Company, took over the role from Mr~~incorporation. ~~Tan Hock Chye.~~

~~Involvement in~~Employment ~~Certain Legal Proceedings~~Agreements

Our Chief ~~Directors~~Executive Officer, Mr. Chin Chee Seong, signed employment agreement on April 01, 2021. Mr. Prabodh Kumar A/L Kantilal H. Sheth was appointed as Chief Financial Officer and signed employment agreement with our ~~Executive~~Company ~~officers~~on ~~have~~December ~~not~~14, ~~been~~2023. ~~involved~~On inMay ~~any~~8, of2024, Mr. Prabodh Kumar A/L Kantilal H. Sheth tendered resignation as the ~~following~~Chief ~~events~~Financial ~~during~~Officer. Our Chief Executive Officer, Mr. Chin Chee Seong has been the ~~past~~interim ~~ten~~Chief ~~years:~~Financial Officer until a suitable candidate is appointed for the position.

1.Compensation ~~bankruptcy~~Discussion petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; 2. any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); 3. being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his/her involvement in any type of business, securities or banking activities; or 4. being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated. 5. Such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated; 6. Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated; 7. Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:(i) Any Federal or State securities or commodities law or regulation; or(ii) Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or 8. Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.Analysis

23Director Compensation

~~Independence~~During our fiscal year ended December 31, 2024, we ofprovided ~~Directors~~monthly compensation to our executive director, Mr. Tan See Meng for $500 and our independent non-executive director, Mr. Cheah Kok Hoong for $500 monthly compensation.

~~The Company~~Executive ~~currently~~Compensation ~~has an independent non-executive director as member of our Board of Directors.~~Philosophy

Our Board of Directors determines the compensation ~~Committees~~given to our executive officers in their sole determination. Our Board of Directors reserves the right to pay our executive or any future executives a salary, and/or issue them shares of common stock in consideration for services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer’s performance. This package may also include long-term stock-based compensation to certain executives, which is intended to align the performance of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company.

~~Our board~~Incentive of directors has established an Audit Committee and adopted written charters for the committee. Copy of the charter is available on our website and our board of directors may establish other committees as it deems necessary or appropriate from time to time.Bonus

~~Audit~~The Board of Directors may grant incentive bonuses ~~Committee~~to our executive officer and/or future executive officers in its sole discretion, if the Board of Directors believes such bonuses are in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

~~Our Audit Committee comprised of our director Mr. Seah Kok Wah and our two independent non~~Long-~~executive~~term, ~~directors:~~Stock ~~Mr.~~Based Louis Ramesh Ruben and Mr. Cheah Kok Hoong. Mr. Louis is Chair of the Audit Committee and he qualifies as the Audit Committee financial expert as defined in Item 407(d)(5) of Regulation S-K promulgated under the Securities Act.Compensation

~~On December~~In ~~13,~~order ~~2023~~to attract, ~~Mr.~~retain ~~Seah~~and ~~Kok~~motivate ~~Wah~~executive talent ~~tendered~~necessary ~~resignation~~to assupport ~~Director~~the Company’s long-term business strategy we may award our executive and ~~member~~any offuture ~~the~~executives ~~Audit~~with ~~Committee.~~long-term, ~~Mr.~~stock-based ~~Louis~~compensation ~~tendered~~in ~~resignation~~the asfuture, ~~independent~~at ~~non-executive~~the ~~director and~~sole ~~member~~discretion of ~~the~~our ~~Audit~~Board ~~Committee~~of Directors, ~~effective~~which onwe ~~December~~do ~~13,~~not ~~2023~~currently have any immediate plans to award.

According to the Audit Committee Charter, the Audit Committee consists of at least three Board members and such members shall constitute at least a majority of the Company’s independent non-executive directors. The Company’s website contains a copy of the Audit Committee Charter. The Audit Committee Charter describes the primary functions of the Audit Committee, including the following:24

●ITEM Oversee the Company’s accounting and financial reporting processes; ● Oversee audits of the Company’s financial statements; ● Discuss policies with respect to risk assessment and risk management, and discuss the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures; ● Review and discuss with management the Company’s audited financial statements and review with management and the Company’s independent registered public accounting firm the Company’s financial statements prior to the filing with the SEC of any report containing such financial statements12. ●SECURITY ~~Recommend~~OWNERSHIP toOF ~~the~~CERTAIN ~~board~~BENEFICIAL ~~that~~OWNERS ~~the~~AND ~~Company’s~~MANAGEMENT ~~audited~~AND ~~financial~~RELATED ~~statements~~STOCKHOLDER be included in its annual report on Form 10-K for the last fiscal year; ● Meet separately, periodically, with management, with the Company’s internal auditors (or other personnel responsible for the internal audit function) and with the Company’s independent registered public accounting firm; ● Be directly responsible for the appointment, compensation, retention and oversight of the work of any independent registered public accounting firm engaged to prepare or issue an audit report for the Company; ● Take, or recommend that the board take, appropriate action to oversee and ensure the independence of the Company’s independent registered public accounting firm; and ● Review major changes to the Company’s auditing and accounting principles and practices as suggested by the Company’s independent registered public accounting firm, internal auditors or management.MATTERS

~~Code~~As of December 31, 2024, the Company has 92,519,843 shares of ~~Ethics~~common stock issued and outstanding, which number of issued and outstanding shares of common stock have been used throughout this report.

~~Our board~~The offollowing ~~directors~~table ~~has~~sets forth, ~~adopted~~as aof ~~code~~December of31, ~~ethics~~2024 ~~that~~certain ~~applies~~information towith ~~all~~regard ~~our~~to ~~directors,~~the ~~officers~~record and ~~employees,~~beneficial ~~including~~ownership ~~our~~of ~~principal~~the ~~executive officer,~~Company’s ~~principal~~common ~~financial~~stock by ~~officer~~(i) ~~and~~each ~~principal~~person ~~accounting~~known ~~officer.~~to ~~The~~the ~~code~~Company ~~addresses,~~to ~~among~~be ~~other~~the ~~things,~~record ~~honesty~~or ~~and~~beneficial ~~ethical~~owner ~~conduct, conflicts~~ of ~~interest,~~more ~~compliance~~than ~~with~~5% ~~laws,~~of ~~regulations~~the ~~and~~Company’s ~~policies~~common stock, ~~including~~(ii) each ~~disclosure~~director ~~requirements~~of ~~under~~ the ~~federal securities laws~~Company, ~~confidentiality,~~(iii) ~~trading~~each onof ~~inside~~the ~~information~~named executive officers, and ~~reporting~~(iv) ofall ~~violations~~executive ofofficers ~~the~~and ~~code.~~directors ~~The code~~ of ~~ethics is available on~~ the Company’s as ~~website~~a ~~at https~~group:~~//www.seatech-ventures.com/.~~

Shareholder Proposals

Name and Address of Beneficial Owner	Shares of Common Stock Beneficially Owned		Common Stock Voting Percentage Beneficially Owned			Total Voting Percentage Beneficially Owned
Executive Officers and Directors
Chin Chee Seong¹, Chief Executive Officer, President, Secretary, Treasurer and Director		20,844,587		22.53	%		22.53	%

Tan See Meng, Director		-		-	%		-	%

Cheah Kok Hoong Independent Non-Executive Director		-		-	%		-	%

Prabodh Kumar A/L Kantilal H. Sheth² Chief Financial Officer		-		-	%		-	%
All of executive officers and director as a group		20,844,587		22.53	%		22.53	%

5% or greater shareholders (excluding officers/directors)
Greenpro Asia Strategic SPC³		42,522,139		45.96	%		45.96	%
STVC Talent Sdn Bhd⁴		8,081,800		8.74	%		8.74	%

~~Our Company~~1Mr. ~~does~~Chin ~~not~~Chee ~~have~~Seong ~~any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors.~~owns ~~The~~100% ~~Board~~ of ~~Directors believes that, given~~ the ~~stage~~issued ofand ~~our~~outstanding ~~development,~~shares ~~a specific nominating policy would be premature and~~ of ~~little assistance~~Metita ~~until~~Sdn. ~~our business operations develop to a more advanced level~~Bhd., ~~Our~~therefore, ~~Company does not currently have any specific or minimum criteria for~~ the ~~election~~table ofabove ~~nominees~~includes to the ~~Board~~share ownership of ~~Directors~~Metita ~~and we do not have any specific process or procedure for evaluating such~~Sdn. ~~nominees~~Bhd. ~~The~~with ~~Board~~Mr. ofChin ~~Directors~~Chee ~~will~~Seong ~~assess all candidates~~collectively, ~~whether~~in ~~submitted~~the byrow ~~management~~of orMr. ~~shareholders, and make recommendations for election or appointment~~Chin.

A2Mr. ~~shareholder~~Prabodh ~~who~~Kumar ~~wishes~~A/L toKantilal ~~communicate~~H. ~~with~~Sheth ~~our~~tendered ~~Board~~resignation ofas ~~Directors~~the ~~may~~Chief doFinancial soOfficer byon ~~directing~~May ~~a written request addressed to our President~~8, at ~~the address appearing on the first page of this Information Statement~~2024.

243Greenpro Asia Strategic SPC- Greenpro Asia Strategic Fund SP is owned and controlled by GC Investment Management Limited.

~~ITEM 11~~4Mr. ~~EXECUTIVE~~Wang ~~COMPENSATION~~Sze Yao @ Wang Ming Way is the sole officer, director and controlling shareholder of STVC Talent Sdn. Bhd.

~~The~~Beneficial ownership ~~following~~has ~~table~~been ~~sets~~determined ~~forth~~in ~~information~~accordance ~~concerning~~with Rule 13d-3 under the ~~compensation~~Exchange Act. Under this rule, certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of ~~our~~the ~~principal~~shares). ~~executive~~In ~~officer~~addition, ~~and~~shares ~~principal~~are ~~financial~~deemed ~~officer~~to ~~who~~be ~~served~~beneficially atowned by a person if the ~~end~~person has the right to acquire shares (for example, upon exercise of an option or warrant) within 60 days of the ~~year~~date ~~December~~as 31of which the information is provided. In computing the percentage ownership of any person, the ~~2023~~amount of shares is deemed to include the amount of shares beneficially owned by such person by reason of such acquisition rights. As a result, ~~for~~the ~~services~~percentage ~~rendered~~of outstanding shares of any person as shown in ~~all~~the ~~capacities~~following totable does not necessarily reflect the person’s usactual voting power at any particular date.

Summary Compensation Table:

(1)

Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Beneficial ownership also includes shares of stock subject to options and warrants currently exercisable or exercisable within 60 days of the date of this table. In determining the percent of common stock owned by a person or entity as of the date of this Report, (a) the numerator is the number of shares of the class beneficially owned by such person or entity, including shares which may be acquired within 60 days on exercise of warrants or options and conversion of convertible securities, and (b) the denominator is the sum of (i) the total shares of common stock outstanding on as of the date of this Annual Report (92,519,843 shares), and (ii) the total number of shares that the beneficial owner may acquire upon exercise of the derivative securities. Unless otherwise stated, each beneficial owner has sole power to vote and dispose of its shares.

(2)

Based on the total issued and outstanding shares of 92,519,843 as of the date of this Annual Report.

Name and Principal Position	Period	Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-Equity Incentive Plan Compensation ($)		Nonqualified Deferred Compensation Earnings ($)		All Other Compensation ($)		Total ($)
Chin Chee Seong, Chief Executive Officer, President, Secretary, Treasurer, Director	For the year ended December 31, 2023		14,669		-		-		-		-		-		-		14,669
	For the year ended December 31, 2022		13,712		-		-		-		-		-		-		13,712
Seah Kok Wah, Chief Investment Officer, Director (1)	For the year ended December 31, 2023		-		-		-		-		-		-		-		-
	For the year ended December 31, 2022		11,446		-		-		-		-		-		-		11,446
Tan See Meng, Director (2)	For the year ended December 31, 2023		-		-		-		-		-		-		-		-
	For the year ended December 31, 2022		-		-		-		-		-		-		-		-
Tan Hock Chye, Chief Financial Officer (3)	For the year ended December 31, 2023		14,669		-		-		-		-		-		-		14,669
	For the year ended December 31, 2022		13,712		-		-		-		-		-		-		13,712
Prabodh Kumar A/L Kantilal H. Sheth, Chief Financial Officer (4)	For the year ended December 31, 2023		-		-		-		-		-		-		-		-
	For the year ended December 31, 2022		-		-		-		-		-		-		-		-

	(1)	On October 31, 2022, Mr. Seah Kok Wah resigned as Chief Investment Officer of the Company. On December 13, 2023, Mr. Seah resigned as Director of the Company.
	(2)	5On December 14, 2023, Mr. Tan See Meng was appointed as Executive Director of the Company. As compensation for services as an Executive Director, Mr. Tan shall receive a monthly fee of $500 in cash payable monthly, commencing on January 2, 2024
	(3)	On November 1, 2023, Mr. Tan Hock Chye tendered his resignation, serving a two-month notice period as the Chief Financial Officer of the Company.
	(4)	5On December 14, 2023, Mr. Prabodh Kumar A/L Kantilal H. Sheth was appointed as Chief Financial Officer of the Company. As compensation for services as a Chief Financial Officer, Mr. Sheth shall receive a monthly fee of $1,250 in cash payable monthly, commencing on January 2, 2024.

25On April 2, 2018, the Company issued 100,000 shares of restricted common stock, with a par value of $0.0001 per share, to Mr. Chin Chee Seong for initial working capital of $10. Mr. Chin Chee Seong is Chief Executive Officer, President, Secretary, and Treasurer of the Company. He is also a member of our Board of Directors.

~~Narrative~~On April 2, 2018 Mr. Seah ~~Disclosure~~Kok toWah ~~Summary~~was ~~Compensation~~appointed ~~Table~~Chief Investment Officer of the Company and was subsequently appointed as Director on March 13, 2019. On October 31, 2022, Mr. Seah resigned as Chief Investment Officer of the Company. On December 13, 2023, Mr. Seah Kok Wah tendered his resignation as a Non-Executive Director of the Company.

~~There are~~On noMay ~~arrangements~~2, or2018, ~~plans in which~~ we ~~provide pension~~, ~~retirement~~“the orCompany” ~~similar benefits for directors or executive officers. Our directors~~acquired ~~and~~100% ~~executive~~of ~~officers may receive stock options at~~ the ~~discretion~~equity ofinterests ~~our board of directors~~ in ~~the~~SEATech ~~future.~~Ventures WeCorp do(herein ~~not~~referred ~~have~~as ~~any~~the ~~material bonus~~“Malaysia ~~or profit-sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers~~Company”), ~~except~~ ~~that~~a ~~stock~~company ~~options may be granted at the discretion of our board of directors from time to time. We have no plans or arrangements~~incorporated in ~~respect of remuneration received or that may be received by our executive officers to compensate such officers in the event of termination of employment (as a result of resignation~~Labuan, ~~retirement, change of control) or a change of responsibilities following a change of control~~Malaysia.

~~Stock~~On December 21, 2018, SEATech Ventures Corp, a Malaysia ~~Option~~Company ~~Grants~~acquired SEATech Ventures (HK) Limited (herein referred as the “Hong Kong Company”), a company incorporated in Hong Kong.

~~We have~~On ~~not~~May ~~granted~~14, ~~any~~2018, ~~stock~~the ~~options~~Company issued 20,000,000 shares of restricted common stock to ~~our~~both ~~executive~~Mr. ~~officers~~Chin ~~since~~Chee ~~our~~Seong ~~incorporation~~and Mr. Seah Kok Wah, with a par value of $0.0001 per share, for total additional working capital of $4,000.

~~Employment~~On August 7, 2018, the Company issued 10,000,000 shares ~~Agreements~~of restricted common stock to GreenPro Venture Capital Limited, with a par value of $0.0001 per share, for additional working capital of $1,000. GreenPro Venture Capital Limited is owned by GreenPro Capital Corp. The controlling shareholders of GreenPro Capital Corp. are Mr. Lee Chong Kuang and Mr. Loke Che Chan.

~~Our Chief~~On ~~Executive~~August ~~Officer~~8, ~~Chin Chee Seong~~2018, ~~signed~~the ~~employment~~Company ~~agreement~~issued ~~on April 01~~30, ~~2021 while our Chief Financial Officer~~000,000 ~~Tan Hock Chye,~~shares ~~signed~~of ~~employment~~restricted ~~agreement~~common onstock ~~July~~to ~~01,~~GreenPro ~~2021.~~Asia OnStrategic ~~November 1~~SPC, ~~2023,~~with ~~Mr. Tan Hock Chye tendered his resignation, serving~~ a ~~two-month~~par ~~notice~~value ~~period as the Chief Financial Officer~~ of ~~the Company~~$0.0001 ~~Taking~~per ~~over~~share, ~~the~~for ~~role~~additional ~~from~~working ~~Mr.~~capital ~~Tan~~of ~~Hock Chye~~$3, Mr000. GreenPro ~~Prabodh~~Asia ~~Kumar~~Strategic ~~A/L~~SPC- ~~Kantilal~~GreenPro H.Asia ~~Sheth~~Strategic ~~was~~Fund ~~appointed~~SP asis ~~Chief~~owned ~~Financial Officer~~ and ~~signed~~controlled ~~employment~~by ~~agreement~~GC ~~with~~Investment ~~our~~Management ~~Company on December 14, 2023~~Limited. ~~On May 8, 2024, Mr. Prabodh Kumar A/L Kantilal H. Sheth tendered resignation as the Chief Financial Officer.~~

~~Compensation~~On August 27, 2018, the Company issued 10,000,000 ~~Discussion~~shares of restricted common stock to STVC Talent Sdn. Bhd., with a par value of $0.0001 per share, for additional working capital of $1,000. Mr. Wang Sze Yao @ Wang Ming Way is the sole officer, director and ~~Analysis~~controlling shareholder of STVC Talent Sdn. Bhd.

~~Director~~GreenPro Venture Capital Limited is owned by GreenPro ~~Compensation~~Capital Corp. The controlling shareholders of GreenPro Capital Corp. are Lee Chong Kuang and Loke Che Chan.

During ~~our~~ ~~fiscal~~the ~~year~~period ended December 31, ~~2023,~~2018 wethe ~~provided monthly compensation to our independent non-executive directors, including Mr. Louis~~Company ~~Ramesh~~paid ~~Ruben for~~ $~~500~~60,000 ~~and~~to ~~Mr.~~GreenPro ~~Cheah~~Financial ~~Kok~~Consulting ~~Hoong~~Limited for ~~$500~~professional ~~and monthly compensation of $500 to our non-executive director, Mr~~services. Seah Kok Wah. All the non-executive directors are also the members of audit committee. On December 13, 2023, Mr. Louis and Mr. Seah respectively resigned as independent non-executive director and non-executive director of the Company.

~~Executive~~For the year ended December 31, 2019, the Company ~~Compensation~~paid ~~Philosophy~~$158,720 to GreenPro Financial Consulting Limited for professional services and cost of providing corporate development advisory services to ICT and technology-based companies.

~~Our Board~~For ~~of Directors determines~~ the ~~compensation~~year ~~given~~ended toDecember ~~our executive officers in their sole determination. Our Board of Directors reserves the right to pay our executive or any future executives a salary~~31, ~~and/or issue them shares of common stock in consideration for services rendered and/or to award incentive bonuses which are linked to our performance~~2020, ~~as well as to~~ the ~~individual executive officer’s~~Company ~~performance.~~paid ~~This package may also include long-term stock-based compensation to certain executives~~$233,400 ~~which is intended~~ to ~~align~~GreenPro ~~the~~Financial ~~performance of~~Consulting ~~our~~Limited ~~executives~~for ~~with~~professional ~~our~~services ~~long-term~~and ~~business~~cost ~~strategies. Additionally, while our Board~~ of ~~Directors~~providing ~~has~~corporate ~~not~~development ~~granted any performance~~advisory ~~base~~services ~~stock options~~ to ~~date,~~ICT ~~the~~and ~~Board~~technology-based ~~of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company~~companies.

~~Incentive~~For the year ended December 31, 2021, the Company ~~Bonus~~paid $307,700 GreenPro Financial Consulting Limited for professional services and cost of providing corporate development advisory services to ICT and technology-based companies.

~~The Board~~For ofthe ~~Directors~~year ~~may~~ended ~~grant~~December ~~incentive~~31, ~~bonuses~~2022, tothe ~~our~~Company incurred ~~executive~~$17,150 ~~officer~~payable ~~and/or~~to ~~future~~Asia ~~executive~~UBS ~~officers~~Global inLimited ~~its~~and ~~sole discretion~~$1,092 ifpayable ~~the Board~~to ofGreenPro ~~Directors~~Resources ~~believes~~Sdn. ~~such~~Bhd. ~~bonuses~~for ~~are~~professional inservices. ~~the~~ The Company’s ~~best~~also ~~interest~~incurred $352,000 ~~after~~to ~~analyzing~~GreenPro ~~our~~Financial ~~current~~Consulting ~~business~~Limited, ~~objectives and growth~~$8,000 ifto ~~any,~~Asia ~~and~~UBS ~~the~~Global ~~amount~~Limited ofand ~~revenue~~$6,300 weto ~~are~~GreenPro ~~able~~Newfin Academy toSdn. ~~generate~~Bhd. ~~each~~for ~~month,~~the ~~which~~cost ~~revenue~~of isproviding acorporate ~~direct~~development ~~result~~advisory ofservices ~~the~~to ~~actions~~ICT and ~~ability of~~technology-based ~~such executives~~companies.

~~Long-term~~For the year ended December 31, 2023, the Company ~~Stock~~incurred ~~Based~~$20,730 ~~Compensation~~payable to Asia UBS Global Limited for professional services and $251,700 to GreenPro Financial Consulting Limited for the cost of providing corporate development advisory services to ICT and technology-based companies.

~~In order~~For ~~to attract, retain and motivate executive talent necessary to support~~ the ~~Company’s~~year ~~long-term~~ended ~~business~~December ~~strategy we may award our executive and any future executives with long-term~~31, ~~stock-based compensation in the future~~2024, at the ~~sole discretion of our Board of~~Company ~~Directors~~incurred $16,050 ~~which~~payable weto doAsia ~~not~~UBS ~~currently~~Global ~~have~~Limited ~~any~~for ~~immediate~~professional ~~plans to award~~services.

~~ITEM 12.~~RELATED ~~SECURITY~~PARTY ~~OWNERSHIP OF CERTAIN BENEFICIAL OWNERS~~ BALANCES AND ~~MANAGEMENT AND RELATED STOCKHOLDER MATTERS~~TRANSACTIONS

As of December 31, 2023, the Company has 114,351,503 shares of common stock issued and outstanding, which number of issued and outstanding shares of common stock have been used throughout this report.

Accounts receivable from related parties (Refer Note 4):	As of December 31, 2024 (Audited)		As of December 31, 2023 (Audited)
Accounts receivable, net
- catTHIS Holdings Corp.¹ (net of allowance of $ 115,000 as of December 31, 2024 and December 31, 2023 respectively)	$	-	$	-
- JOCOM Holdings Corp.¹		-		69,500
-Celmonze Wellness Corporation³		-		80,000
Total	$	-	$	149,500

The ~~following~~ ~~table~~above ~~sets~~related ~~forth,~~party asreceivables are oftrade ~~December~~in ~~31,~~nature ~~2023 certain information with regard to the record~~ and ~~beneficial~~subject ~~ownership of the Company’s common stock by (i) each person known~~ to ~~the~~normal ~~Company~~trade to be the record or beneficial owner of more than 5% of the Company’s common stock, (ii) each director of the Company, (iii) each of the named executive officers, and (iv) all executive officers and directors of the Company as a group:terms.

Name and Address of Beneficial Owner	Shares of Common Stock Beneficially Owned		Common Stock Voting Percentage Beneficially Owned			Total Voting Percentage Beneficially Owned
Account payable due to related parties (Refer Note 7):	As of December 31, 2024 (Audited)		As of December 31, 2023 (Audited)
Executive Officers and Directors
Account payable:
Chin Chee Seong, Chief Executive Officer, President, Secretary, Treasurer and Director		20,100,000		17.57	%		17.57	%
- GreenPro Financial Consulting Limited5	$	285,200	$	324,200
Seah Kok Wah, Non-Executive Director1		20,005,100		17.49	%		17.49	%
Tan See Meng, Director2		-		-	%		-	%
Cheah Kok Hoong Independent Non-Executive Director		-		-	%		-	%
Louis Ramesh Ruben Independent Non-Executive Director3		400		0.00035	%		0.00035	%
Tan Hock Chye Chief Financial Officer4		1,000,000		0.87	%		0.87	%
Prabodh Kumar A/L Kantilal H. Sheth Chief Financial Officer5		-		-	%		-	%
All of executive officers and director as a group		41,105,500		35.93	%		35.93	%
5% or greater shareholders (excluding officers/directors)
Greenpro Asia Strategic SPC6		29,200,000		25.54	%		25.54	%
STVC Talent Sdn Bhd7		8,081,800		7.07	%		7.07	%

~~1On December~~The ~~13,~~above ~~2023,~~related ~~Mr.~~party ~~Seah~~account ~~Kok~~payable ~~Wah~~is ~~tendered~~trade ~~his~~in ~~resignation~~nature and subject asto anormal ~~Non-Executive~~trade ~~Director~~terms.

2On December 14, 2023, Mr. Tan See Meng was appointed as Executive Director of the Board of Director.

Other payables due to related parties (Refer Note 8):

- Mr. Chin Chee Seong (Director and Executive Officer)		15,000		8,750
- Mr. Tan See Meng (Director)		6,000		-
- Mr. Prabodh Kumar A/L Kantilal H. Sheth (former Executive Officer, resigned on May 8, 2024)		1,250		-
- Mr. Tan Hock Chye (Executive Officer)		-		3,750
- Mr. Louis Ramesh Ruben (Director)		-		2,000
- Mr. Cheah Kok Hoong (Director)		5,500		2,000
- Mr. Seah Kok Wah (Former Director, resigned on December 13, 2023)		-		2,000
- Asia UBS Global Limited⁴		12,600		14,500
Total	$	40,350	$	33,000

~~3On December~~The ~~13,~~above ~~2023,~~other ~~Mr.~~payables to ~~Louis~~directors ~~Ramesh~~and ~~Ruben~~executive ~~tendered his~~officers ~~resignation~~represent assalary anand ~~Independent~~director ~~Non-Executive~~fees ~~Director~~payable.

~~4On November~~The 1,above ~~2023,~~other ~~Mr.~~payable ~~Tan Hock Chye tendered his resignation,~~to ~~serving~~Asia aUBS ~~two-month~~Global ~~notice~~Limited ~~period~~represent aspayables ~~the~~due ~~Chief~~for ~~Financial~~professional ~~Officer of the Company~~fees.

5On December 14, 2023, Mr. Prabodh Kumar A/L Kantilal H. Sheth was appointed as Chief Financial Officer of the Company.

	As of		As of
Investment in related parties:	December 31, 2024 (Audited)		December 31, 2023 (Audited)
AsiaFIN Holdings Corp ¹		1,015		1,015
Angkasa-X Holdings Corp.²		-		1,300
JOCOM Holdings Corp.¹		850		850
catTHIS Holdings Corp.¹		1,900		1,900
Celmonze Wellness Corporation³		-		650
Total	$	3,765	$	5,715

~~6Greenpro Asia Strategic SPC- Greenpro Asia Strategic Fund SP is owned and controlled by GC Investment Management Limited.~~27

~~7Mr. Wang~~For ~~Sze~~the ~~Yao~~years @ended ~~Wang~~December 31, ~~Ming~~2024 ~~Way~~and is2023, the ~~sole~~Company ~~officer,~~has ~~director~~following ~~and~~transactions ~~controlling~~with ~~shareholder~~related ~~of STVC Talent Sdn. Bhd.~~parties:

Beneficial ownership has been determined in accordance with Rule 13d-3 under the Exchange Act. Under this rule, certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire shares (for example, upon exercise of an option or warrant) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares is deemed to include the amount of shares beneficially owned by such person by reason of such acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following table does not necessarily reflect the person’s actual voting power at any particular date.

	For the year ended December 31, 2024 (Audited)		For the year ended December 31, 2023 (Audited)
Included in Revenue are the following sales to related parties:
- GreenPro Financial Consulting Limited⁵	$	-	$	11,640
- AsiaFIN Holdings Corp.¹		-		12,500
- catTHIS Holdings Corp.¹		-		120,000
-Celmonze Wellness Corporation³		-		184,200
Total	$	-	$	328,340

Included in Cost of revenue is the following costs incurred from a related party:
- GreenPro Financial Consulting Limited⁵	$	-	$	251,700
Total	$	-	$	251,700

Included in General and administrative are the following expenses to related parties:

Executives’ compensation:
- Mr. Chin Chee Seong (Director and Executive Officer)	$	15,000	$	14,669
- Mr. Tan See Meng (Director)		6,000		-
- Mr. Prabodh Kumar A/L Kantilal H. Sheth (former Executive Officer, resigned on May 8, 2024)		3,750		-
- Mr. Tan Hock Chye (Executive Officer)		-		14,669
Total	$	24,750	$	29,338

Non-executive Directors’ compensation:
- Mr. Louis Ramesh Ruben	$	-	$	6,000
- Mr. Cheah Kok Hoong		6,000		6,000
- Mr. Seah Kok Wah (Former Director, resigned on December 13, 2023)		-		6,000
Total	$	6,000		18,000

Company secretary fees:
-Asia UBS Global Limited⁴	$	5,250	$	9,830
	$	5,250	$	9,830

Professional fees:
- Asia UBS Global Limited⁴	$	10,800	$	10,900

(1)

Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Beneficial ownership also includes shares of stock subject to options and warrants currently exercisable or exercisable within 60 days of the date of this table. In determining the percent of common stock owned by a person or entity as of the date of this Report, (a) the numerator is the number of shares of the class beneficially owned by such person or entity, including shares which may be acquired within 60 days on exercise of warrants or options and conversion of convertible securities, and (b) the denominator is the sum of (i) the total shares of common stock outstanding on as of the date of this Annual Report (114,351,503 shares), and (ii) the total number of shares that the beneficial owner may acquire upon exercise of the derivative securities. Unless otherwise stated, each beneficial owner has sole power to vote and dispose of its shares.

(2)

Based on the total issued and outstanding shares of 114,351,503 as of the date of this Annual Report.

¹As of December 31, 2024, the Company owns 12,26%, 14,76% and 14.99% of interest in AsiaFIN Holdings Corp., JOCOM Holdings Corp. and catTHIS Holdings Corp. respectively.

272Divestment in Angkasa-X Holdings Corp. occurred on August 9, 2024 due to the management decision.

~~ITEM 13.~~3Divestment ~~CERTAIN~~in ~~RELATIONSHIPS~~Celmonze ~~AND~~Wellness ~~RELATED~~Corporation occurred ~~TRANSACTIONS~~on February 6, ~~DIRECTOR~~2024 ~~INDEPENDENCE~~due to the restructuring of Celmonze Wellness Corporation.

~~On April~~4Asia 2,UBS ~~2018,~~Global ~~the~~Limited ~~Company~~is ~~issued 100,000 shares of restricted common stock, with~~ a ~~par value~~ subsidiary of ~~$0.0001~~GreenPro ~~per~~Capital ~~share, to Mr~~Corp. ~~Chin Chee Seong for initial working capital of $10~~(GRNQ). ~~Mr.~~GRNQ ~~Chin~~through ~~Chee~~its ~~Seong~~wholly isowned ~~Chief Executive Officer~~subsidiaries, ~~President,~~owns ~~Secretary,~~49.45% ~~and~~shareholding ~~Treasurer~~in of the Company. ~~He is also a member of our Board of Directors.~~

~~On April~~ 5GreenPro 2,Financial ~~2018~~Consulting ~~Mr.~~Limited is ~~Seah~~a ~~Kok~~subsidiary ~~Wah was appointed Chief Investment Officer~~ of ~~the~~GreenPro ~~Company~~Capital ~~and was subsequently appointed as Director on March 13, 2019~~Corp. ~~On October 31, 2022, Mr~~(GRNQ). ~~Seah~~GRNQ ~~resigned~~through asits ~~Chief~~wholly ~~Investment~~owned ~~Officer of the Company. On December 13~~subsidiaries, ~~2023,~~owns Mr49.45% ~~Seah~~shareholding ~~Kok~~in ~~Wah tendered his resignation as a Non-Executive Director of~~ the Company.

~~On May 2~~Review, ~~2018,~~Approval ~~we,~~and ~~“the~~Ratification ~~Company” acquired 100%~~ of ~~the~~Related ~~equity interests in SEATech Ventures Corp (herein referred as the “Malaysia~~Party ~~Company”), a company incorporated in Labuan, Malaysia.~~Transactions

~~On December~~Given 21our small size and limited financial resources, we ~~2018~~have not adopted formal policies and procedures for the review, ~~SEATech~~approval ~~Ventures~~or ~~Corp~~ratification of transactions, asuch ~~Malaysia~~as ~~Company~~those ~~acquired~~described ~~SEATech~~above, with ~~Ventures~~our executive officer(HKs), ~~Limited~~ Director(~~herein~~s) ~~referred~~and assignificant stockholders. We intend to establish formal policies and procedures in the future, ~~“Hong~~once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review, ~~Kong~~approval ~~Company”)~~or ratification of our Board of Directors, or an appropriate committee thereof. On a ~~company~~moving ~~incorporated~~forward inbasis, ~~Hong~~our ~~Kong~~Directors will continue to approve any related party transaction.

On May 14, 2018, the Company issued 20,000,000 shares of restricted common stock to both Mr. Chin Chee Seong and Mr. Seah Kok Wah, with a par value of $0.0001 per share, for total additional working capital of $4,000.28

~~On August~~ITEM ~~7, 2018, the Company issued 10,000,000 shares of restricted common stock to GreenPro Venture Capital Limited, with a par value of $0~~14.~~0001~~ ~~per~~PRINCIPAL ~~share,~~ACCOUNTING ~~for~~FEES ~~additional~~AND ~~working capital of $1,000. GreenPro Venture Capital Limited is owned by GreenPro Capital Corp. The controlling shareholders of GreenPro Capital Corp. are Mr. Lee Chong Kuang and Mr. Loke Che Chan.~~SERVICES

~~On August~~Below 8,is ~~2018,~~ the ~~Company~~aggregate ~~issued~~amount ~~30,000,000 shares~~ of ~~restricted~~fees ~~common~~billed ~~stock~~for ~~to GreenPro Asia Strategic SPC, with a par value of $0.0001~~professional ~~per~~services ~~share,~~rendered ~~for~~by ~~additional~~our ~~working~~principal ~~capital~~accountants ofwith ~~$3,000.~~respect ~~GreenPro~~to ~~Asia~~our ~~Strategic~~last ~~SPC-~~two ~~GreenPro~~fiscal ~~Asia Strategic Fund SP is owned and controlled by GC Investment Management Limited~~years.

On August 27, 2018, the Company issued 10,000,000 shares of restricted common stock to STVC Talent Sdn. Bhd., with a par value of $0.0001 per share, for additional working capital of $1,000. Mr. Wang Sze Yao @ Wang Ming Way is the sole officer, director and controlling shareholder of STVC Talent Sdn. Bhd.

	For the Year Ended December 31, 2024		For the Year Ended December 31, 2023
Audit fees	$	25,500	$	25,500
Audit related fees		10,500		62,500
Tax fees		-		-
Total	$	36,000	$	88,000

~~GreenPro~~The category of “Audit fees” includes ~~Venture~~fees ~~Capital~~for ~~Limited~~our isannual ~~owned~~audit, byand ~~GreenPro~~services ~~Capital~~rendered ~~Corp.~~in ~~The~~connection ~~controlling~~with ~~shareholders~~regulatory offilings ~~GreenPro~~with ~~Capital~~the ~~Corp.~~SEC, ~~are~~such ~~Lee~~as ~~Chong~~the ~~Kuang and~~issuance ~~Loke~~of ~~Che~~comfort ~~Chan~~letters and consents.

~~During the~~The ~~period~~category ~~ended~~of ~~December~~“Audit-related ~~31,~~fees” ~~2018~~includes quarterly ~~the~~reviews, ~~Company~~employee ~~paid~~benefit ~~$60~~plan audits,~~000~~ tointernal ~~GreenPro~~control ~~Financial~~reviews ~~Consulting~~and ~~Limited~~accounting ~~for professional services~~consultation.

~~For~~ All of the ~~year~~professional ~~ended~~services ~~December~~rendered ~~31,~~by ~~2019,~~principal accountants for the ~~Company~~audit ~~paid~~of ~~$158,720~~our toannual ~~GreenPro~~financial ~~Financial~~statements ~~Consulting~~that ~~Limited~~are ~~for~~normally ~~professional~~provided ~~services~~by ~~and~~the ~~cost~~accountant in connection with statutory ofand ~~providing~~regulatory ~~corporate~~filings ~~development~~or ~~advisory~~engagements ~~services~~for tolast ~~ICT~~two ~~and~~fiscal ~~technology-based~~years ~~companies~~were approved by our board of directors.

For the year ended December 31, 2020, the Company paid $233,400 to GreenPro Financial Consulting Limited for professional services and cost of providing corporate development advisory services to ICT and technology-based companies.29

~~For the~~PART year ended December 31, 2021, the Company paid $307,700 GreenPro Financial Consulting Limited for professional services and cost of providing corporate development advisory services to ICT and technology-based companies.IV

~~For~~ITEM ~~the year ended December 31, 2022, the Company incurred $17,150 payable to Asia UBS Global Limited and $1,092 payable to GreenPro Resources Sdn~~15. ~~Bhd.~~EXHIBITS ~~for~~AND ~~professional~~FINANCIAL ~~services.~~STATEMENT The Company also incurred $352,000 to GreenPro Financial Consulting Limited, $8,000 to Asia UBS Global Limited and $6,300 to GreenPro Newfin Academy Sdn. Bhd. for the cost of providing corporate development advisory services to ICT and technology-based companies.SCHEDULES

~~For the~~(a) ~~year ended December 31, 2023, the Company incurred $20,730 payable to Asia UBS Global Limited for professional services and $251,700 to GreenPro~~ Financial ~~Consulting Limited for the cost of providing corporate development advisory services to ICT and technology-based companies.~~Statements

28The following are filed as part of this report:

~~RELATED PARTY~~Financial ~~BALANCES AND TRANSACTIONS~~Statements

Accounts receivable from related parties (Refer Note 4):	As of December 31, 2023 (Audited)		As of December 31, 2022 (Audited)
Accounts receivable, net
- catTHIS Holdings Corp.1 (net of allowance of $ 115,000 as of December 31, 2023)	$	-	$	-
- JOCOM Holdings Corp.1		69,500		120,000
- Celmonze Wellness Corporation2		80,000		-
Total	$	149,500	$	120,000

The following financial statements of SEATech Ventures Corp. and Report of Independent Registered Public Accounting Firm are presented in the “F” pages of this Report:

The above related party receivables are trade in nature and subject to normal trade terms.

	Page

Index	F-1

Report of Independent Registered Public Accounting Firm	F-2

Financial Statements

Consolidated Balance Sheets	F-3

Consolidated Statements of Operations	F-4

Consolidated Statements of Stockholders’ (Deficit) Equity	F-5

Consolidated Statements of Cash Flows	F-6

Notes to Consolidated Financial Statements	F-7 – F-18

Account payable due to related parties (Refer Note 7):	As of December 31, 2023 (Audited)		As of December 31, 2022 (Audited)
Account payable:
- GreenPro Financial Consulting Limited4	$	324,200	$	96,000

(b) Exhibits

The ~~above~~ ~~related~~following ~~party~~exhibits ~~account~~are ~~payable~~filed isor ~~trade in nature and subject to normal trade terms.~~“furnished” herewith:

Other payables due to related parties (Refer Note 8):
3.1	Articles of Incorporation**
- Mr. Chin Chee Seong (Director and Executive Officer)		8,750		-
3.2	Bylaws**
- Mr. Tan Hock Chye (Executive Officer)		3,750		-
31.1	Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*
- Mr. Louis Ramesh Ruben (Director)		2,000		1,000
31.2	Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial officer*
- Mr. Cheah Kok Hoong (Director)		2,000		1,000
32.1	Section 1350 Certification of principal executive officer*
- Mr. Seah Kok Wah (Director)		2,000		-
32.2	Section 1350 Certification of principal financial officer*
- Asia UBS Global Limited3		14,500		3,600
101.INS	Inline XBRL Instance Document
Total	$	33,000	$	5,600
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

~~The above~~* ~~other~~Filed ~~payables to directors and executive officers represent salary and director fees payable~~herewith.

~~The~~** As filed in the Registrant’s ~~above~~Registration ~~other~~Statement ~~payable~~on toForm ~~Asia~~S-1 ~~UBS~~Amendment ~~Global~~No. ~~Limited~~2 ~~represent~~(File ~~payables~~No. ~~due~~333-230479) ~~for~~on ~~professional~~May ~~fees~~30, 2019.

	As of		As of
Investment in related parties:	December 31, 2023 (Audited)		December 31, 2022 (Audited)
AsiaFIN Holdings Corp 1		1,015		1,015
Angkasa-X Holdings Corp.1		1,300		1,300
JOCOM Holdings Corp.1		850		850
catTHIS Holdings Corp.1		1,900		1,900
Celmonze Wellness Corporation2		650		-
Total	$	5,715	$	5,065

29SIGNATURES

~~For~~ Pursuant to the ~~years~~requirements ~~ended~~of ~~December~~the ~~31,~~Securities ~~2023~~Exchange Act ~~and~~of ~~2022~~1934, the ~~Company~~registrant has ~~following~~duly ~~transactions~~caused ~~with~~this ~~related~~report ~~parties:~~to be signed on its behalf by the undersigned, thereunto duly authorized.

		For the year ended December 31, 2023 (Audited)		For the year ended December 31, 2022 (Audited)
	SEATECH VENTURES CORP.
Included in Revenue are the following sales to related parties:
	(Name of Registrant)
- GreenPro Financial Consulting Limited4		$	11,640	$	-
Date: April 15, 2025	By:	/s/ CHIN CHEE SEONG
- AsiaFIN Holdings Corp.1			12,500		-
	Title:	Chief Executive Officer, Chief Financial Officer,
- JOCOM Holdings Corp.1			-		280,000
		President, Director, Secretary and Treasurer
- catTHIS Holdings Corp.1			120,000		160,000
-Celmonze Wellness Corporation2			184,200		-
- GreenPro Venture Capital Limited5			-		87,089
Total		$	328,340	$	527,089
Included in Cost of revenue is the following costs incurred from a related party:
- GreenPro Financial Consulting Limited4		$	251,700	$	352,000
-Asia UBS Global Limited3			-		8,000
- GreenPro Newfin Academy Sdn. Bhd.6			-		6,300
		$	251,700	$	366,300
Included in General and administrative are the following expenses to related parties:
Executives’ compensation:
- Mr. Chin Chee Seong (Director and Executive Officer)		$	14,669	$	13,712
- Mr. Tan Hock Chye (Executive Officer)			14,669		13,712
- Mr. Seah Kok Wah (Chief Investment Officer)			-		11,446
Total		$	29,338	$	38,870
Non-executive Directors’ compensation:
- Mr. Louis Ramesh Ruben		$	6,000	$	6,000
- Mr. Cheah Kok Hoong			6,000		6,000
- Mr. Seah Kok Wah			6,000		-
Total		$	18,000		12,000
Company secretary fees:
-Asia UBS Global Limited3		$	9,830	$	8,150
-GreenPro Resources Sdn. Bhd.7			-		1,092
		$	9,830	$	9,242
Professional fees:
- Asia UBS Global Limited3		$	10,900	$	9,000

1As of December 31, 2023, the Company owns 12,26%, 5.68%, 14,76% and 14.99% of interest in AsiaFIN Holdings Corp., Angkasa-X Holdings Corp., JOCOM Holdings Corp. and catTHIS Holdings Corp. respectively.

Date: April 15, 2025	By:	/s/ TAN SEE MENG
	Title:	Director

~~2As of December~~ 31, 2023, the Company invested USD 650 in Celmonze Wellness Corporation during the private placement stage. Subsequently the divestment occurred on February 6, 2024 due to the restructuring of Celmonze Wellness Corporation.

~~3Asia UBS~~INDEX ~~Global~~TO ~~Limited~~FINANCIAL ~~is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.~~STATEMENTS

4GreenPro Financial Consulting Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.

	Page
Financial Statements

Report of Independent Registered Public Accounting Firm	F-2

Consolidated Balance Sheets	F-3

Consolidated Statements of Operations and Comprehensive Loss	F-4

Consolidated Statements of Changes in Stockholders’ (Deficit) Equity	F-5

Consolidated Statements of Cash Flows	F-6

Notes to Consolidated Financial Statements	F-7 - F-18

~~5GreenPro Venture Capital Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.~~F-1

~~6The major~~J&S ~~shareholder~~ASSOCIATE ofPLT ~~GreenPro~~202206000037 ~~Newfin~~(LLP0033395-LCA) ~~Academy~~& ~~Sdn.~~AF002380 ~~Bhd.~~(Registered iswith aPCAOB ~~shareholder~~and ofMIA) ~~GreenPro~~B-11-14, ~~Capital~~Megan ~~Corp.~~Avenue ~~(GRNQ).~~II ~~GRNQ~~12,Jalan ~~through~~Yap ~~its~~Kwan ~~wholly~~Seng, ~~owned subsidiaries~~50450, ~~owns~~Kuala ~~27.55%~~Lumpur, ~~shareholding~~Malaysia inTel: ~~the~~+603-4813 ~~Company~~9469 Email : info@jns-associate.com Website : jns-associate.com

~~7GreenPro Resources~~REPORT ~~Sdn.~~OF ~~Bhd.~~INDEPENDENT isREGISTERED aPUBLIC ~~subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding~~ACCOUNTING ~~in the Company.~~FIRM

~~Review, Approval~~The ~~and~~Board ~~Ratification~~ of ~~Related~~Directors ~~Party~~and ~~Transactions~~Stockholders of

~~Given our~~SEATECH ~~small~~VENTURES size and limited financial resources, we have not adopted formal policies and procedures for the review, approval or ratification of transactions, such as those described above, with our executive officer(s), Director(s) and significant stockholdersCORP. We intend to establish formal policies and procedures in the future, once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward basis, our Directors will continue to approve any related party transaction.

30Opinion on the Financial Statement

~~ITEM~~We 14have audited the accompanying consolidated balance sheet of SEATech Ventures Corp. ~~PRINCIPAL~~and ~~ACCOUNTING~~its ~~FEES~~subsidiaries ~~AND~~(the ~~SERVICES~~‘Company’) as of December 31, 2024 and December 31, 2023, and the related consolidated statement of operations and comprehensive loss, consolidated statement of changes in stockholders’ (deficit) equity, and consolidated statement of cash flows for the year ended December 31, 2024 and December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and December 31, 2023, and the results of its operations and its cash flows for the year ended December 31, 2024 and December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

~~Below is~~Substantial ~~the~~Doubt ~~aggregate~~about ~~amount~~the ofCompany’s Ability ~~fees billed for professional services rendered by our principal accountants with respect~~ to ~~our~~Continue ~~last~~as ~~two~~a ~~fiscal years.~~Going Concern

	For the Year Ended December 31, 2023		For the Year Ended December 31, 2022
Audit fees	$	25,500	$	12,000
Audit related fees		62,500		7,500
Tax fees		-		-
Total	$	88,000	$	19,500

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2, to the consolidated financial statements as of December 31, 2024, the Company incurred a net loss of $156,926, suffered an accumulated deficit of $1,053,835 as of December 31, 2024. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management's evaluation of the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern, and management's plans to mitigate these matters, are described in Note 2.

~~The category~~These offinancial ~~“Audit~~statements ~~fees”~~do ~~includes~~not ~~fees~~include ~~for~~any ~~our~~adjustments ~~annual~~that ~~audit,~~may be necessary to reflect the effects on the recoverability and ~~services~~classification ~~rendered~~of inassets ~~connection~~and ~~with~~additional ~~regulatory~~liabilities ~~filings~~that may ~~with~~arise if the ~~SEC,~~Company ~~such~~is not able to continue as ~~the~~a ~~issuance~~going ofconcern. ~~comfort~~Our ~~letters~~opinion ~~and~~is ~~consents~~not modified with respect to this matter.

~~The category~~Basis offor ~~“Audit-related fees” includes quarterly reviews, employee benefit plan audits, internal control reviews and accounting consultation.~~Opinion

~~All~~These financial statements are the responsibility of the ~~professional~~Company’s ~~services~~management. ~~rendered~~Our byresponsibility ~~principal~~is ~~accountants~~to ~~for~~express ~~the~~an ~~audit~~opinion ofon ~~our~~the ~~annual~~Company’s financial statements ~~that~~based on our audits. We are ~~normally~~a ~~provided by~~public accounting firm registered with the ~~accountant~~Public inCompany ~~connection~~Accounting ~~with~~Oversight ~~statutory~~Board (United States) (“PCAOB”) and ~~regulatory~~are ~~filings~~required orto ~~engagements~~be ~~for~~independent ~~last~~with ~~two~~respect ~~fiscal~~to ~~years~~the ~~were~~Company ~~approved~~in byaccordance ~~our~~with ~~board~~the U.S. federal securities laws and the applicable rules and regulations of ~~directors~~the Securities and Exchange Commission and the PCAOB.

31We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

~~PART~~Our audit included performing procedures to assess IVthe risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

~~ITEM 15.~~/s/ ~~EXHIBITS~~J&S ~~AND~~ASSOCIATE ~~FINANCIAL STATEMENT SCHEDULES~~PLT

~~(a) Financial~~Certified ~~Statements~~Public Accountants

~~The following~~PCAOB ~~are filed as part of this report~~No: 6743

~~Financial Statements~~We have served as the Company’s auditor since 2024.

~~The following~~Kuala ~~financial~~Lumpur, ~~statements of SEATech Ventures Corp. and Report of Independent Registered Public Accounting Firm are presented in the “F” pages of this Report:~~Malaysia

		Page
Index		F-1
Report of Independent Registered Public Accounting Firm		F-2 - F-3
Financial Statements
Consolidated Balance Sheets		F-4
Consolidated Statements of Operations		F-5
Consolidated Statements of Stockholders’ (Deficit) Equity		F-6
Consolidated Statements of Cash Flows		F-7
Notes to Consolidated Financial Statements		F-8 – F-19

April 15, 2025

~~(b) Exhibits~~F-2

~~The following~~SEATECH ~~exhibits~~VENTURES ~~are filed or “furnished” herewith:~~CORP.

3.1		Articles of Incorporation**
3.2		Bylaws**
31.1		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*
31.2		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial officer*
32.1		Section 1350 Certification of principal executive officer*
32.2		Section 1350 Certification of principal financial officer*
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

CONSOLIDATED BALANCE SHEETS

* FiledAS ~~herewith.~~OF DECEMBER 31, 2024 AND 2023

** As(Currency ~~filed~~expressed in ~~the~~United ~~Registrant’s~~States ~~Registration~~Dollars ~~Statement on Form S-1 Amendment No. 2~~ (~~File No. 333-230479~~“US$”), except onfor ~~May~~number ~~30,~~of ~~2019.~~shares)

32(Audited)

SIGNATURES

	2024 (Audited)			2023 (Audited)
	As of December 31,
	2024 (Audited)			2023 (Audited)
ASSETS
CURRENT ASSETS
Accounts receivable, net	$	-		$	149,500
Deposits paid, prepayments and other receivables		3,476			1,017
Cash and cash equivalents		12,330			29,392
Total current assets		15,806			179,909

NON-CURRENT ASSETS
Investment in other companies	$	3,765		$	5,715
Total non-current assets		3,765			5,715

TOTAL ASSETS	$	19,571		$	185,624

LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES
Account payable	$	285,200		$	324,200
Other payables and accrued liabilities		77,044			69,410
Share subscription received in advance		42,500			20,000
Total current liabilities		404,744			413,610

TOTAL LIABILITIES	$	404,744		$	413,610

STOCKHOLDERS’ (DEFICIT) EQUITY
Preferred shares, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding	$	-		$	-
Common stock, $0.0001 par value, 600,000,000 shares authorized, 92,519,843 and 114,351,503 shares issued and outstanding as of December 31, 2024 and 2023 respectively		9,252			11,435
Additional paid-in capital		659,958			657,775
Accumulated other comprehensive loss		(548	)		(287	)
Accumulated deficit	$	(1,053,835	)	$	(896,909	)

TOTAL STOCKHOLDERS’ DEFICIT	$	(385,173	)	$	(227,986	)

TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	19,571		$	185,624

~~Pursuant to~~See ~~the~~accompanying ~~requirements~~notes ~~of the Securities Exchange Act of 1934, the registrant has duly caused this report~~ to beconsolidated ~~signed~~financial ~~on its behalf by the undersigned, thereunto duly authorized~~statements.

	SEATECH VENTURES CORP.
	(Name of Registrant)
Date: May 10, 2024	By:	/s/ CHIN CHEE SEONG
	Title:	Chief Executive Officer,
		President, Director, Secretary and Treasurer

F-3

Date: May 10, 2024	By:	/s/ TAN SEE MENG
	Title:	Director

SEATECH VENTURES CORP.

33CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

~~INDEX TO~~FOR ~~FINANCIAL~~THE ~~STATEMENTS~~YEARS ENDED DECEMBER 31, 2024 AND 2023

		Page
Financial Statements
Report of Independent Registered Public Accounting Firm		F-2 - F-3
Consolidated Balance Sheets		F-4
Consolidated Statements of Operations and Comprehensive Loss		F-5
Consolidated Statements of Changes in Stockholders’ (Deficit) Equity		F-6
Consolidated Statements of Cash Flows		F-7
Notes to Consolidated Financial Statements		F-8 - F-19

(Currency expressed in United States Dollars (“US$”), except for number of shares)

~~F-1~~(Audited)

J&S ASSOCIATE PLT 202206000037 (LLP0033395-LCA) & AF002380 (Registered with PCAOB and MIA) B-11-14, Megan Avenue II 12,Jalan Yap Kwan Seng, 50450, Kuala Lumpur, Malaysia Tel: +603-4813 9469 Email : info@jns-associate.com Website : jns-associate.com

	For the year ended December 31, 2024 (Audited)			For the year ended December 31, 2023 (Audited)
REVENUE	$	-		$	328,340

COST OF REVENUE		-			(251,700	)

GROSS PROFIT	$	-		$	76,640

OTHER INCOME		521			-

SELLING AND DISTRIBUTION EXPENSES		(65	)		(835	)

GENERAL AND ADMINISTRATIVE EXPENSES		(157,382	)		(378,634	)

LOSS BEFORE INCOME TAX	$	(156,926	)	$	(302,829	)

INCOME TAXES PROVISION		-			-

NET LOSS		(156,926	)		(302,829	)

OTHER COMPREHENSIVE LOSS
Foreign exchange translation loss		(261	)		(43	)

TOTAL COMPREHENSIVE LOSS	$	(157,187	)	$	(302,872	)

Net loss per share- Basic and diluted (cent)		(0.00	)		(0.00	)

Weighted average number of common shares outstanding - Basic and diluted		111,420,677			97,304,864

~~REPORT OF~~See ~~INDEPENDENT~~accompanying ~~REGISTERED~~notes ~~PUBLIC~~to ~~ACCOUNTING~~consolidated ~~FIRM~~financial statements.

~~The Board of Directors and Stockholders of~~F-4

SEATECH VENTURES CORP.

~~Opinion~~CONSOLIDATED onSTATEMENTS ~~the~~OF ~~Financial~~CHANGES ~~Statement~~IN STOCKHOLDERS’ (DEFICIT) EQUITY

~~We have~~FOR ~~audited~~THE ~~the~~YEARS ~~accompanying~~ENDED ~~consolidated~~DECEMBER ~~balance sheet of SEATech Ventures Corp. and its subsidiaries (the ‘Company’) as of December~~ 31, ~~2023,~~2024 ~~and~~AND the related consolidated statement of operations and comprehensive loss, consolidated statement of changes in stockholders’ (deficit) equity, and consolidated statement of cash flows for the year ended December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

~~Substantial~~(Currency ~~Doubt~~expressed ~~about~~in ~~the~~United ~~Company’s Ability~~States toDollars ~~Continue~~(“US$”), except asfor anumber ~~Going~~of ~~Concern~~shares)

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2, the Company incurred a net loss of $302,829, suffered an accumulated deficit of $896,909 and negative operating cash flow of $124,661 as of December 31, 2023. These matters raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that that may be necessary to reflect the effects on the recoverability and classification of assets and additional liabilities that may arise if the Company is not able to continue as a going concern.(Audited)

Basis for Opinion

	Number of Shares			Amount			PAID-IN CAPITAL			COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			TOTAL EQUITY
	COMMON SHARES						ADDITIONAL			ACCUMULATED OTHER
	Number of Shares			Amount			PAID-IN CAPITAL			COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			TOTAL EQUITY
Balance as of December 31, 2022		92,519,843		$	9,252		$	659,958		$	(244	)	$	(594,080	)	$	74,886
Issuance of shares for acquisition of Just Supply Chain Limited on October 13, 2023		21,831,660			2,183			(2,183	)		-			-			-
Foreign exchange translation loss		-			-			-			(43	)		-			(43	)
Net loss		-			-			-			-			(302,829	)		(302,829	)
Balance as of December 31, 2023		114,351,503		$	11,435		$	657,775		$	(287	)	$	(896,909	)	$	(227,986	)
Balance		114,351,503		$	11,435		$	657,775		$	(287	)	$	(896,909	)	$	(227,986	)
Cancellation of shares on November 12, 2024 for termination of acquisition of Just Supply Chain Limited		(21,831,660	)		(2,183	)		2,183			-			-			-
Foreign exchange translation loss		-			-			-			(261	)		-			(261	)
Net loss		-			-			-			-			(156,926	)		(156,926	)
Balance as of December 31, 2024		92,519,843		$	9,252		$	659,958		$	(548	)	$	(1,053,835	)	$	(385,173	)
Balance		92,519,843		$	9,252		$	659,958		$	(548	)	$	(1,053,835	)	$	(385,173	)

~~These~~See ~~financial~~accompanying ~~statements~~notes ~~are the responsibility of the Company’s management. Our responsibility is~~ to ~~express an~~consolidated ~~opinion on the Company’s~~ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.F-5

~~Our~~SEATECH ~~audit~~VENTURES ~~included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks~~CORP. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

~~Critical~~CONSOLIDATED ~~Audit~~STATEMENT ~~Matters~~OF CASH FLOWS

~~Critical~~FOR ~~audit~~THE ~~matters~~YEARS ~~are~~ENDED ~~matters~~DECEMBER arising from the current year audit of the financial statements that were communicated or are required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements31, ~~and~~2024 ~~(2)~~AND ~~involved especially challenging, subjective, or complex judgements. We determined that there are no critical audit matters.~~2023

~~/s/~~(Currency ~~J&S~~expressed ~~ASSOCIATE~~in ~~PLT~~United States Dollars (“US$”))

~~Certified Public Accountants~~(Audited)

PCAOB No: 6743

	For the year ended December 31, 2024 (Audited)			For the year ended December 31, 2023 (Audited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(156,926	)	$	(302,829	)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for expected credit loss		-			115,000
Changes in operating assets and liabilities:
Accounts receivable		149,500			(144,500	)
Account payable		(39,000	)		228,200
Deposits paid, prepayments and other receivables		(1,159	)		(1,017	)
Other payables and accrued liabilities		7,603			(19,515	)
Net cash used in operating activities		(39,982	)		(124,661	)

CASH FLOW FROM INVESTING ACTIVITIES:
Investment in other companies		-			(650	)
Refund of investment in other companies		650			-
Net cash provided by / (used in) investing activities		650			(650	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Share subscription received in advance		22,500			20,000
Net cash provided by financing activities		22,500			20,000

Effect of exchange rate changes on cash and cash equivalents		(230	)		(1,490	)

Net change in cash and cash equivalents		(17,062	)		(106,801	)
Cash and cash equivalents, beginning of year		29,392			136,193

CASH AND CASH EQUIVALENTS, END OF YEAR	$	12,330		$	29,392
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	$	-		$	-
Interest paid	$	-		$	-

WeSee ~~have~~accompanying ~~served~~notes asto ~~the~~consolidated ~~Company’s~~financial ~~auditor since 2024~~statements.

~~Kuala Lumpur, Malaysia~~F-6

SEATECH ~~May~~VENTURES ~~10, 2024~~ CORP.

~~F-2~~NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~REPORT OF~~FOR ~~INDEPENDENT~~THE ~~REGISTERED~~YEARS ~~PUBLIC~~ENDED ~~ACCOUNTING~~DECEMBER ~~FIRM~~31, 2024 AND 2023

~~The Board~~(Currency ofexpressed ~~Directors~~in ~~and~~United ~~Stockholders~~States Dollars (“US$”), except for number of shares)

~~SEATech Ventures Corp~~1. ORGANIZATION AND BUSINESS BACKGROUND

~~11-05~~SEATech Ventures Corp. (“the Company”) &was ~~11-06,~~incorporated ~~Tower~~on AApril 2, ~~Avenue~~ 32018 ~~Vertical~~under ~~Business~~the ~~Suite,~~laws of the state of Nevada.

~~Jalan Kerinchi~~The Company, ~~Bangsar~~through ~~South~~its subsidiaries, ~~59200 Kuala~~ ~~Lumpur~~engages in providing business mentoring, ~~Malaysia~~ nurturing, incubating and corporate development advisory services to ICT and technology-based companies.

~~Opinion~~On May 2, 2018, the Company acquired 100% of the equity oninterests in SEATech Ventures Corp (herein referred as the ~~Financial~~“Malaysia ~~Statements~~Company”), a private limited company incorporated in Labuan, Malaysia.

~~We have~~On ~~audited~~December ~~the~~21, ~~accompanying~~2018, ~~consolidated balance sheets of~~ SEATech Ventures Corp~~. (the ‘Company’) as of December 31~~, ~~2022, and~~ the ~~related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for the year~~Malaysia ~~ended~~Company ofacquired ~~December~~SEATech ~~31,~~Ventures ~~2022,~~(HK) ~~and~~Limited ~~the related notes~~ (~~collectively~~herein referred to as the “~~financial~~Hong ~~statements~~Kong Company”)~~. In our opinion~~, ~~the~~ ~~financial~~a ~~statements~~private ~~present~~limited ~~fairly,~~company ~~in all material respects, the financial position of the Company as of December 31, 2022, and~~incorporated ~~the results of its operations and its cash flows for each of two years~~ in ~~the~~Hong ~~year ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America~~Kong.

~~Basis~~On October 04, 2021, SEATech Ventures (HK) Limited ~~for~~subscribed ~~Opinion~~60% of the equity interests in SEATech Bigorange CVC Sdn Bhd, a private limited company incorporated in Malaysia. The Malaysia Company changed its company name to SEATech CVC Sdn. Bhd. on February 22, 2022. On February 25, 2022, SEATech Ventures (HK) Limited further acquired 40% of the equity interests in SEATech CVC Sdn. Bhd., which in turn owns 100% of the equity interests in the Malaysia company.

~~These financial~~On ~~statements~~January ~~are~~03, ~~the~~2022, ~~responsibility~~SEATech ofVentures ~~the~~(HK) ~~Company’s~~Limited acquired ~~management.~~1 ~~Our~~share, ~~responsibility~~representing is100% toequity ~~express~~interest anof ~~opinion~~SEATech onVentures ~~the~~Sdn. ~~Company’s financial statements based on our audits~~Bhd., ~~We are~~ a ~~public~~Malaysia ~~accounting~~company, ~~firm~~from ~~registered with~~ the ~~Public~~Chief ~~Company~~Executive ~~Accounting Oversight Board~~Officer, ~~(United~~President, ~~States)~~Secretary, ~~(“PCAOB”)~~Treasurer and ~~are~~Director, ~~required~~Mr. toChin beChee ~~independent~~Seong, with ~~respect~~consideration ~~to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations~~ of ~~the~~MYR ~~Securities and Exchange Commission and the PCAOB~~1.

~~We conducted~~On ~~our~~October ~~audits~~13, 2023, inthe ~~accordance~~Company ~~with~~issued ~~the~~21,831,660 ~~standards~~shares of ~~the~~its ~~PCAOB.~~restricted ~~Those~~common ~~standards~~stock ~~require~~at ~~that~~$0.80 per weshare ~~plan~~to ~~and perform~~ the ~~audit~~shareholders toof ~~obtain reasonable~~Just ~~assurance~~Supply ~~about~~Chain ~~whether~~Limited ~~the~~(“JSCL”), ~~financial~~for ~~statements~~acquisition ~~are free~~ of ~~material~~one ~~misstatement,~~hundred ~~whether~~percent ~~due~~(100%) toof ~~error~~the equity orof ~~fraud~~JSCL. ~~The~~On ~~Company is~~May ~~not~~06, ~~required~~2024, tothe ~~have,~~acquisition ~~nor~~has ~~were~~been wecancelled ~~engaged~~due to ~~perform,~~factors anthat ~~audit~~came ofto ~~its~~light ~~internal~~on the ~~control~~valuation ~~over financial reporting. As part~~ of ~~our~~the ~~audits~~entity, we ~~are~~resulted ~~required~~on toJuly ~~obtain~~01, an2024, ~~understanding~~the of21,831,660 ~~internal~~shares were ~~control~~returned ~~over~~to ~~financial~~the ~~reporting~~Company ~~but~~and ~~not~~were ~~for~~held ~~the~~as ~~purpose~~treasury ofshares, ~~expressing~~subsequently ancancellation ~~opinion on the effectiveness~~ of the ~~Company’s~~shares ~~internal~~on ~~control~~November ~~over financial reporting. Accordingly~~12, ~~we express no such opinion~~2024.

~~Our audits~~Details ~~included performing procedures to assess the risks~~ of ~~material misstatement of~~ the ~~financial~~Company’s statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.subsidiaries:

~~Going Concern~~SCHEDULE OF COMPANY’S SUBSIDIARIES

The financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company had incurred a net loss of $94,157 during the year, had an accumulated deficit of $594,080 and negative operating cash flows of $59,529 as of December 31, 2022. These factors raise substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters also are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Company name

Place and date of

incorporation

Particulars of

issued capital

Principal activities

Proportional of

ownership

interest and

voting power

held

SEATech Ventures Corp.

Labuan / March 12, 2018

100 ordinary shares of US$1 each

Investment holding

100

SEATech Ventures (HK) Limited

Hong Kong / January 30, 2018

1 ordinary share of HK$1

Business mentoring, nurturing and incubation, and corporate development advisory services

100

SEATech CVC Sdn. Bhd. (F.K.A. SEATech Bigorange CVC Sdn. Bhd.)

Malaysia / October 04, 2021

20,000 ordinary shares of MYR1 each

Dormant company

100

SEATech Ventures Sdn. Bhd.

Malaysia / May 27, 2021

1 ordinary share of MYR1 each

Provision of corporate advisory services

100

~~Critical Audit Matters~~F-7

~~Critical audit~~SEATECH ~~matters~~VENTURES are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to those charged with governance that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgementsCORP. ~~We determined that there are no critical matters.~~

~~/s/~~NOTES JPTO ~~CENTURION~~CONSOLIDATED &FINANCIAL ~~PARTNERS PLT JP CENTURION & PARTNERS PLT~~STATEMENTS

~~We have~~FOR ~~served~~THE asYEARS ~~the~~ENDED ~~Company’s~~DECEMBER ~~auditor~~31, ~~since~~2024 ~~2020.~~ AND 2023

~~JP Centurion~~(Currency &expressed ~~Partners~~in ~~PLT~~United States Dollars (~~PCAOB:~~“US$”), except ~~6723~~for number of shares)

~~Kuala Lumpur,~~Business ~~Malaysia~~Overview

~~Date:~~SEATech ~~March~~Ventures 31Corp. is a company providing business mentoring services, ~~2023~~nurturing and incubation services relating to client businesses and corporate development advisory services to entrepreneurs in the broader technology industry, but with a specific focus on the information and communication technology industry. We will primarily focus our efforts on nurturing ICT entrepreneurs in Asia. Our advisory services will center on our “ICT Start-Up Mentorship Program”, which is designed to assist tech-based entrepreneurs in solving ICT industry pain points caused by technical insufficiencies, inappropriate financial modelling and weak strategic positioning within a competitive environment. The program aims to improve the technical exposure of our clients and to improve their sustainability in the ICT industry community through a combination of mentorship programs.

~~F-3~~For the year ended December 31, 2024, we did not generate revenue due to adverse economic situation. We are continuously exploring new business opportunities.

~~SEATECH VENTURES CORP~~2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

~~CONSOLIDATED~~The accompanying consolidated financial statements ~~BALANCE~~reflect ~~SHEETS~~the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes.

~~AS OF~~Basis ~~DECEMBER~~of ~~31, 2023 AND 2022~~presentation

~~(Currency~~The consolidated financial statements for SEATech ~~expressed~~Ventures Corp. and its subsidiaries for the year ended December 31, 2024 is prepared in accordance with accounting principles generally accepted in the United States ~~Dollars~~of America (“US$ GAAP”), ~~except~~and ~~for~~include ~~number~~the accounts of ~~shares~~SEATech Ventures Corp., its wholly owned subsidiaries, SEATech Ventures Corp., SEATech Ventures (HK) Limited, SEATech CVC Sdn. Bhd. (F.K.A. SEATech Bigorange CVC Sdn. Bhd.) and SEATech Ventures Sdn. Bhd. Intercompany accounts and transactions have been eliminated on consolidation. The Company has adopted December 31 as its fiscal year end.

~~(Audited)~~Basis of consolidation

	2023 (Audited)			2022 (Audited)
	As of December 31,
	2023 (Audited)			2022 (Audited)
ASSETS
CURRENT ASSETS
Accounts receivable, net	$	149,500		$	120,000
Deposits paid, prepayments and other receivables		1,017			-
Cash and cash equivalents		29,392			136,193
Total current assets		179,909			256,193
NON-CURRENT ASSETS
Investment in other companies	$	5,715		$	5,065
Total non-current assets		5,715			5,065
TOTAL ASSETS	$	185,624		$	261,258
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES
Account payable	$	324,200		$	96,000
Other payables and accrued liabilities		69,410			57,372
Amount due to a corporate shareholder		-			33,000
Share subscription received in advance		20,000			-
Total current liabilities		413,610			186,372
TOTAL LIABILITIES	$	413,610		$	186,372
STOCKHOLDERS’ (DEFICIT) EQUITY
Preferred shares, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding	$	-		$	-
Common stock, $0.0001 par value, 600,000,000 shares authorized, 114,351,503 and 92,519,843 shares issued and outstanding as of December 31, 2023 and 2022 respectively		11,435			9,252
Additional paid-in capital		657,775			659,958
Accumulated other comprehensive loss		(287	)		(244	)
Accumulated deficit	$	(896,909	)	$	(594,080	)
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY	$	(227,986	)	$	74,886
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	185,624		$	261,258

The consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company is the primary beneficiary. All inter-company accounts and transactions have been eliminated upon consolidation.

~~See accompanying notes to consolidated financial statements.~~F-8

~~F-4~~SEATECH VENTURES CORP.

~~SEATECH VENTURES~~NOTES ~~CORP.~~TO CONSOLIDATED FINANCIAL STATEMENTS

~~CONSOLIDATED STATEMENTS~~FOR OFTHE ~~OPERATIONS~~YEARS ~~AND~~ENDED ~~COMPREHENSIVE~~DECEMBER ~~LOSS~~31, 2024 AND 2023

~~FOR THE~~(Currency ~~YEARS~~expressed ~~ENDED~~in ~~DECEMBER~~United 31States Dollars (“US$”), except ~~2023~~for ~~AND~~number ~~2022~~of shares)

~~(Currency expressed~~Use ~~in United States Dollars (“US$”), except for number~~ of ~~shares)~~estimates

~~(Audited)~~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.

	For the year ended December 31, 2023 (Audited)			For the year ended December 31, 2022 (Audited)
REVENUE	$	328,340		$	548,095
COST OF REVENUE		(251,700	)		(454,053	)
GROSS PROFIT	$	76,640		$	94,042
OTHER INCOME		-			1,936
SELLING AND DISTRIBUTION EXPENSES		(835	)		(7,613	)
GENERAL AND ADMINISTRATIVE EXPENSES		(378,634	)		(182,522	)
LOSS BEFORE INCOME TAX	$	(302,829	)	$	(94,157	)
INCOME TAXES PROVISION		-			-
NET LOSS		(302,829	)		(94,157	)
OTHER COMPREHENSIVE LOSS
Foreign exchange translation loss		(43	)		(119	)
TOTAL COMPREHENSIVE LOSS	$	(302,872	)	$	(94,276	)
Net loss per share- Basic and diluted (cent)		(0.00	)		(0.09	)
Weighted average number of common shares outstanding - Basic and diluted		97,304,864			92,519,843

Revenue recognition

~~See~~In accordance with Financial Accounting Standards ~~accompanying~~Board ~~notes~~(“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts. ASC 606 creates a five-step model that requires entities to ~~consolidated~~exercise ~~financial~~judgment ~~statements~~when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

FRevenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of business mentoring, nurturing, incubating and corporate development advisory services to ICT and technology-5based companies.

~~SEATECH VENTURES~~Cost ~~CORP.~~of revenue

~~CONSOLIDATED~~Cost of revenue includes the cost of services and ~~STATEMENTS~~product OFin ~~CHANGES~~providing INbusiness ~~STOCKHOLDERS’~~mentoring, ~~(DEFICIT)~~nurturing, ~~EQUITY~~incubating and corporate development advisory services.

~~FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022~~Investments

~~(Currency expressed~~Investments in ~~United~~equity ~~States Dollars (“US$”), except for number of shares)~~securities

The Company accounts for its investments that represent less than 20% ownership, and for which the Company does not have the ability to exercise significant influence, using ASU 2016-01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The Company measure investments in equity securities without a readily determinable fair value using a measurement alternative that measures these securities at the cost method minus impairment, if any, plus or minus changes resulting from observable price changes on a non-recurring basis. Gains and losses on these securities are recognized in other income and expenses. At December 31, 2024, the Company had three investments in equity securities with carrying value of $3,765. At December 31, 2023, the Company had five investments in equity securities with carrying value of $5,715 (~~Audited~~see Note 6).

	COMMON SHARES				ADDITIONAL			ACCUMULATED OTHER						NON-
	Number of Shares		Amount		PAID-IN CAPITAL			COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			CONTROLLING INTEREST			TOTAL EQUITY
Balance as of December 31, 2021		92,519,843	$	9,252	$	659,958		$	(125	)	$	(499,923	)	$	1,658		$	170,820
Step acquisition									-			-			(1,658	)		(1,658	)
Foreign exchange translation loss		-		-		-			(119	)		-			-			(119	)
Net loss		-		-		-			-			(94,157	)		-			(94,157	)
Balance as of December 31, 2022		92,519,843	$	9,252	$	659,958		$	(244	)	$	(594,080	)	$	-		$	74,886
Balance		92,519,843	$	9,252	$	659,958		$	(244	)	$	(594,080	)	$	-		$	74,886
Issuance of shares for acquisition of Just Supply Chain Limited on October 13, 2023		21,831,660		2,183		(2,183	)		-			-			-			-
Foreign exchange translation loss		-		-		-			(43	)		-			-			(43	)
Net loss		-		-		-			-			(302,829	)		-			(302,829	)
Balance as of December 31, 2023		114,351,503	$	11,435	$	657,775		$	(287	)	$	(896,909	)	$	-		$	(227,986	)
Balance		114,351,503	$	11,435	$	657,775		$	(287	)	$	(896,909	)	$	-		$	(227,986)

Accounts receivable

~~See~~Accounts receivable are recorded at the invoiced amount ~~accompanying~~less ~~notes~~an toallowance ~~consolidated~~for any uncollectible accounts. 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 ~~statements~~condition, credit history and the current economic conditions to make an adjustment to 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.

~~F-6~~Cash and cash equivalents

~~SEATECH~~Cash and cash equivalents are carried at cost and ~~VENTURES~~represent ~~CORP~~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.

~~CONSOLIDATED STATEMENT~~Income ~~OF CASH FLOWS~~taxes

~~FOR~~The provision of income taxes is determined in accordance ~~THE~~with ~~YEARS~~the ~~ENDED~~provisions ~~DECEMBER~~of 31ASC Topic 740, ~~2023~~“Income ~~AND~~Taxes” ~~2022~~(“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

~~(Currency~~ASC 740 prescribes a comprehensive model for how companies ~~expressed~~should recognize, measure, present, and disclose in ~~United~~their ~~States~~financial ~~Dollars~~statements ~~(“US$”))~~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.

~~(Audited)~~Going concern

	For the year ended December 31, 2023 (Audited)			For the year ended December 31, 2022 (Audited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(302,829	)	$	(94,157	)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for expected credit loss		115,000			-
Changes in operating assets and liabilities:
Accounts receivable		(144,500	)		(120,000	)
Account payable		228,200			96,000
Deposits paid, prepayments and other receivables		(1,017	)		1,650
Other payables and accrued liabilities		(19,515	)		23,978
Amount due to a corporate shareholder		-			33,000
Net cash used in operating activities		(124,661	)		(59,529	)
CASH FLOW FROM INVESTING ACTIVITIES:
Investment in other companies		(650	)		-
Refund of investment in other companies		-			200
Net cash (used in) / provided by investing activities		(650	)		200
CASH FLOWS FROM FINANCING ACTIVITIES:
Share subscription received in advance		20,000			-
Net cash provided by financing activities		20,000			-
Effect of exchange rate changes on cash and cash equivalents		(1,490	)		3,236
Net change in cash and cash equivalents		(106,801	)		(56,093	)
Cash and cash equivalents, beginning of year		136,193			192,286
CASH AND CASH EQUIVALENTS, END OF YEAR	$	29,392		$	136,193
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	$	-		$	-
Interest paid	$	-		$	-

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 year ended December 31, 2024, the Company incurred a net loss of $156,926, suffered an accumulated deficit of $1,053,835 and cash flows used in operating activities of $39,982. 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.

~~See accompanying~~The ~~notes~~Company’s ability to ~~consolidated~~continue as a going concern is dependent upon improving its profitability and the continuing financial ~~statements~~support from its Chief Executive Officer cum shareholder. 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.

F-79

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, ~~2023~~2024 AND ~~2022~~2023

(Currency expressed in United States Dollars (“US$”), except for number of shares)

~~1. ORGANIZATION~~Net ~~AND~~income/(loss) ~~BUSINESS~~per ~~BACKGROUND~~share

~~SEATech~~The Company calculates net loss per share in accordance ~~Ventures~~with ~~Corp.~~ASC (Topic 260 “~~the~~Earnings ~~Company~~per share”). ~~was~~Basic ~~incorporated~~loss onper ~~April~~share 2,is ~~2018~~computed ~~under~~by dividing the ~~laws~~net loss by the weighted average number of common shares outstanding during the ~~state~~period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of ~~Nevada~~additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

~~The Company,~~Foreign ~~through~~currencies ~~its subsidiaries, engages in providing business mentoring, nurturing, incubating and corporate development advisory services to ICT and technology-based companies.~~translation

~~On May~~The 2,reporting ~~2018,~~currency of the Company ~~acquired~~and ~~100%~~its ofsubsidiaries in ~~the~~Labuan ~~equity~~and ~~interests~~Hong inKong, ~~SEATech~~are ~~Ventures~~United ~~Corp~~States Dollars (~~herein~~“US$”), ~~referred~~while asits subsidiaries in Malaysia, maintains the “books and record in Ringgit Malaysia ~~Company~~(“MYR”), a ~~private~~being ~~limited~~the ~~company~~primary ~~incorporated~~currency of the economic environment in ~~Labuan,~~which ~~Malaysia~~these entities operate.

OnTransactions denominated in currencies other than ~~December~~the ~~21,~~functional ~~2018,~~currency ~~SEATech~~are ~~Ventures~~translated ~~Corp,~~into the ~~Malaysia~~functional ~~Company~~currency ~~acquired~~at ~~SEATech~~the ~~Ventures~~exchange ~~(HK)~~rates ~~Limited~~prevailing ~~(herein~~at ~~referred~~the asdates of the ~~“Hong~~transaction. ~~Kong~~Monetary ~~Company”),~~assets aand ~~private~~liabilities ~~limited~~denominated ~~company~~in ~~incorporated~~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 ~~Hong~~the ~~Kong~~statements of operations.

~~On October~~In 04general, ~~2021~~for consolidation purposes, ~~SEATech~~assets ~~Ventures~~and liabilities ~~(HK)~~of ~~Limited~~its ~~subscribed~~subsidiary ~~60%~~whose offunctional ~~the~~currency ~~equity~~is ~~interests~~not inthe ~~SEATech~~US$ ~~Bigorange~~are ~~CVC~~translated ~~Sdn~~into ~~Bhd~~US$, ain ~~private~~accordance ~~limited company~~with ~~incorporated~~ASC inTopic ~~Malaysia.~~830-30, ~~The~~“Translation of ~~Malaysia~~Financial ~~Company~~Statement”, ~~changed~~using ~~its~~the ~~company~~exchange ~~name~~rate toon ~~SEATech~~the ~~CVC Sdn.~~balance ~~Bhd~~sheet date. onRevenues ~~February~~and ~~22,~~expenses ~~2022.~~are Ontranslated ~~February~~at ~~25,~~average rates ~~2022,~~prevailing ~~SEATech~~during ~~Ventures~~the ~~(HK)~~period. ~~Limited~~The ~~further~~gains ~~acquired~~and ~~40%~~losses ofresulting ~~the~~from ~~equity~~translation ~~interests~~of infinancial ~~SEATech CVC~~statements ~~Sdn.~~of ~~Bhd.,~~foreign ~~which~~subsidiary inare recorded ~~turn~~as ~~owns~~a ~~100%~~separate component of ~~the~~accumulated ~~equity~~other ~~interests~~comprehensive inincome within the ~~Malaysia~~statement ~~company~~of stockholders’ equity.

~~On January~~Translation ~~03,~~of ~~2022,~~amounts ~~SEATech~~from ~~Ventures~~RM ~~(HK)~~into ~~Limited acquired~~ US$1 ~~share,~~and ~~representing~~HK$ ~~100%~~into US$1 ~~equity~~has ~~interest~~been ofmade ~~SEATech~~at ~~Ventures~~the ~~Sdn.~~following ~~Bhd.,~~exchange ~~a Malaysia~~rates ~~company,~~for ~~from~~ the ~~Chief~~respective ~~Executive Officer, President, Secretary, Treasurer and Director, Mr. Chin Chee Seong, with consideration of MYR 1.~~periods:

~~On October~~SCHEDULE ~~13,~~OF ~~2023,~~FOREIGN ~~the Company issued 21,831,660 shares of its restricted common stock~~CURRENCIES atTRANSLATION ~~$0.80~~EXCHANGE per share to the shareholders of Just Supply Chain Limited (“JSCL”), for acquisition of one hundred percent (100%) of the equity of JSCL. As of the date of this filing, the acquisition has been cancelled due to factors that came to light on the valuation of the entity.RATE

Details of the Company’s subsidiaries:

	As of and for the year ended December 31,
	2024		2023

Year-end RM : US$1 exchange rate		4.47		4.59
Year-average RM : US$1 exchange rate		4.58		4.56
Year-end HK$: US$1 exchange rate		7.77		7.81
Year-average HK$ : US$1 exchange rate		7.80		7.83

~~SCHEDULE~~Related ~~OF COMPANY SUBSIDIARIES~~parties

Company name

Place and date of incorporation

Particulars of issued capital

Principal activities

Proportional of ownership interest and voting power held

SEATech Ventures Corp.

Labuan / March 12, 2018

100 ordinary shares of US$1 each

Investment holding

100

SEATech Ventures (HK) Limited

Hong Kong / January 30, 2018

1 ordinary share of HK$1

Business mentoring, nurturing and incubation, and corporate development advisory services

100

SEATech CVC Sdn. Bhd. (F.K.A. SEATech Bigorange CVC Sdn. Bhd.)

Malaysia / October 04, 2021

20,000 ordinary shares of MYR1 each

Dormant company

100

SEATech Ventures Sdn. Bhd.

Malaysia / May 27, 2021

1 ordinary share of MYR1 each

Provision of corporate advisory services

100

F-810

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, ~~2023~~2024 AND ~~2022~~2023

(Currency expressed in United States Dollars (“US$”), except for number of shares)

~~Business Overview~~Fair value of financial instruments:

~~SEATech Ventures~~The ~~Corp.~~carrying isvalue aof ~~company~~the ~~providing~~Company’s ~~business~~financial instruments: ~~mentoring~~cash ~~services, nurturing~~ and ~~incubation~~cash ~~services~~equivalents, ~~relating~~subscription ~~to client businesses and corporate development advisory services to entrepreneurs in the broader technology industry~~receivables, ~~but~~prepayment ~~with a specific focus on the information~~ and ~~communication technology industry. We will primarily focus our efforts on nurturing ICT entrepreneurs in Asia. Our advisory services will center on our “ICT Start-Up Mentorship Program”~~deposits, ~~which~~accounts ~~is designed to assist tech-based entrepreneurs in solving ICT industry pain points caused by technical insufficiencies~~payable, ~~inappropriate~~and ~~financial~~other ~~modelling~~payables and ~~weak strategic positioning within a competitive~~accrued ~~environment.~~liabilities ~~The~~approximate ~~program~~at ~~aims~~their tofair ~~improve~~values ~~the~~because ~~technical exposure~~ of ~~our clients and to improve their sustainability in~~ the ~~ICT~~short-term ~~industry community~~nature ~~through a combination~~ of ~~mentorship~~these ~~programs~~financial instruments.

2The 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 ~~SUMMARY~~in OFmeasuring ~~SIGNIFICANT~~fair ~~ACCOUNTING~~value ~~POLICIES~~as follows:

~~The accompanying~~Level ~~consolidated~~1: ~~financial~~Observable ~~statements~~inputs ~~reflect~~such ~~the~~as ~~application~~quoted ofprices ~~certain~~in ~~significant~~active ~~accounting~~markets; ~~policies~~Level as2: ~~described~~Inputs, other than the quoted prices in ~~this note~~active markets, that are observable either directly or indirectly; and ~~elsewhere~~Level 3: Unobservable inputs in which there is little or no market data, which require the ~~accompanying~~reporting ~~consolidated~~entity ~~financial~~to ~~statements~~develop ~~and~~its ~~notes~~own assumptions.

~~Basis~~Recently ofadopted ~~presentation~~Accounting Standards

~~The~~In June 2016, ~~consolidated~~the ~~financial~~FASB ~~statements~~issued ~~for~~Accounting ~~SEATech~~Standards ~~Ventures~~Update ~~Corp~~No. ~~and~~2016-13, ~~its~~Financial ~~subsidiaries~~Instruments ~~for~~– ~~the~~Credit ~~year~~Losses ~~ended~~(Topics ~~December~~326): ~~31,~~Measurement ~~2023~~of ~~is prepared in~~Credit ~~accordance~~Losses ~~with~~on ~~accounting~~Financial ~~principles~~Instruments, ~~generally~~which ~~accepted~~introduced in the ~~United~~expected ~~States~~credit oflosses ~~America~~methodology ~~(“US~~for ~~GAAP”)~~the ~~and~~measurement ~~include~~of ~~the~~credit ~~accounts of~~losses ~~SEATech~~on ~~Ventures~~financial assets ~~Corp.,~~measured ~~its~~at ~~wholly~~amortized ~~owned~~cost ~~subsidiaries~~basis, ~~SEATech~~replacing ~~Ventures~~the ~~Corp~~previous incurred loss methodology. In November 2019, ~~SEATech~~the ~~Ventures~~FASB ~~(HK)~~issued ~~Limited,~~ASU ~~SEATech~~2019-10 ~~CVC~~highlighted ~~Sdn.~~the ~~Bhd.~~adoption (Ftimeline.~~K.A.~~ ~~SEATech~~For ~~Bigorange~~smaller ~~CVC~~reporting ~~Sdn.~~entities, ~~Bhd.)~~Topic ~~and~~326 ~~SEATech~~is ~~Ventures~~effective ~~Sdn.~~for ~~Bhd.~~annual ~~Intercompany~~periods ~~accounts~~beginning ~~and~~after ~~transactions have~~December ~~been~~15, ~~eliminated~~2022, onincluding ~~consolidation.~~interim ~~The~~period ~~Company~~within ~~has~~those ~~adopted~~fiscal ~~December~~years, 31of aswhich ~~its~~is ~~fiscal~~effective ~~year~~for ~~end~~the Company on January 1, 2023.

~~Basis~~Credit loss ofrate ~~consolidation~~is determined by historical collection based on aging schedule, adjusted for current conditions using reasonable and supportable forecast. Based on the aging categorization and the adjusted loss per category, an allowance for credit losses is calculated by multiplying the adjusted loss rate with the amortized cost in the respective age category.

~~The consolidated~~Recent ~~financial statements include the accounts of the Company and its subsidiaries in which the Company is the primary beneficiary.~~accounting ~~All inter-company accounts and transactions have been eliminated upon consolidation.~~pronouncements

~~F-9~~The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do 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.

~~SEATECH VENTURES CORP.~~F-11

~~NOTES TO~~SEATECH ~~CONSOLIDATED~~VENTURES ~~FINANCIAL STATEMENTS~~CORP.

~~FOR THE~~NOTES ~~YEARS~~TO ~~ENDED~~CONSOLIDATED ~~DECEMBER~~FINANCIAL ~~31, 2023 AND 2022~~STATEMENTS

~~(Currency expressed~~FOR inTHE ~~United~~YEARS ~~States~~ENDED ~~Dollars~~DECEMBER ~~(“US$”)~~31, ~~except~~2024 ~~for~~AND ~~number of shares)~~2023

~~Use~~(Currency expressed in United States Dollars (“US$”), except for number of ~~estimates~~shares)

~~Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP~~3. ~~Those~~COMMON 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.STOCK

~~Revenue~~On April 2, 2018, the founder of the Company, Mr. ~~recognition~~Chin Chee Seong purchased 100,000 shares of restricted common stock of the Company at a par value of $0.0001 per share. The monies from this transaction, which totalled $10, went to the Company to be used as initial working capital.

~~In accordance~~On ~~with~~May ~~Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606~~14, ~~Revenue from Contracts. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts~~2018, ~~which includes (1) identifying~~ the ~~contracts~~Company orissued ~~agreements with a customer~~20,000,000 ~~(2) identifying our performance obligations~~shares inof ~~the~~restricted ~~contract~~common orstock ~~agreement, (3) determining the transaction price, (4) allocating the transaction price~~ to ~~the~~Chin ~~separate~~Chee ~~performance obligations,~~Seong and ~~(5)~~Seah ~~recognizing~~Kok ~~revenue~~Wah asrespectively, ~~each~~with ~~performance~~a ~~obligation~~par isvalue ~~satisfied~~of $0.0001 ~~The~~per ~~Company~~share, ~~only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange~~ for ~~the~~total ~~services it transfers~~additional toworking ~~its~~capital ~~clients~~of $4,000.

~~Revenue is~~On ~~measured~~August at7, ~~the~~2018, ~~fair value of~~ the ~~consideration~~Company ~~received~~issued ~~or receivable~~10,000,000 ~~net~~ shares of ~~discounts~~restricted ~~and~~common ~~taxes~~stock ~~applicable~~ to ~~the~~Greenpro ~~revenue.~~Venture ~~The Company~~Capital ~~derives~~Limited ~~its~~with ~~revenue~~a ~~from~~par ~~provision~~value of ~~business~~$0.0001 ~~mentoring,~~per ~~nurturing~~share, ~~incubating~~for ~~and~~total ~~corporate~~additional ~~development~~working ~~advisory services to~~capital ~~ICT~~of ~~and technology-based companies~~$1,000.

~~Cost~~On August 8, 2018, the Company issued 30,000,000 shares of ~~revenue~~restricted common stock to Greenpro Asia Strategic Fund SPC, a company incorporated in Cayman Islands with a par value of $0.0001 per share, for additional working capital of $3,000.

~~Cost of~~On ~~revenue~~August ~~includes~~27, 2018, the ~~cost~~Company issued 10,000,000 shares of ~~services~~restricted ~~and~~common ~~product~~stock into ~~providing~~STVC ~~business~~Talent ~~mentoring,~~Sdn. ~~nurturing~~Bhd., ~~incubating~~a ~~and~~company ~~corporate~~incorporated ~~development~~in Malaysia with a par value of $0.0001 per share, ~~advisory~~for ~~services~~additional working capital of $1,000.

~~Investments~~On September 7, 2018, the Company sold shares to 2 shareholders, of whom reside in Malaysia. A total of 750,000 shares of restricted common stock were sold at a price of $0.10 per share. The total proceeds to the Company amounted to a total of $75,000.

~~Investments~~On September 12, 2018, the Company sold shares to a shareholder, of whom reside in ~~equity~~Malaysia. ~~securities~~A total of 466,667 shares of restricted common stock were sold at a price of $0.15 per share. The total proceeds to the Company amounted to a total of $70,000.

~~The Company~~In ~~accounts~~between ~~for~~September ~~its~~21, ~~investments~~2018 ~~that~~and ~~represent~~November ~~less than 20% ownership~~29, ~~and for which~~ 2018, the Company ~~does~~sold ~~not~~shares ~~have the ability~~ to ~~exercise significant~~44 ~~influence~~shareholders, ~~using ASU 2016-01, Financial Instruments – Overall: Recognition and Measurement~~ of ~~Financial~~whom ~~Assets~~reside ~~and Financial~~in ~~Liabilities~~Malaysia. ~~The~~A ~~Company~~total ~~measure~~of ~~investments~~860,000 inshares ~~equity~~of ~~securities~~restricted ~~without~~common astock ~~readily~~were ~~determinable fair value using a measurement~~sold ~~alternative that measures these securities~~ at ~~the~~a ~~cost method minus impairment, if any, plus or minus changes resulting from observable~~ price ~~changes~~of ~~on a non-recurring basis~~$0.20 ~~Gains~~per ~~and losses on these securities are recognized in other income and expenses~~share. AtThe ~~December 31,~~total ~~2023,~~proceeds ~~the~~to ~~Company had five investments in equity securities with carrying value of $5,715. At December 31, 2022,~~ the Company ~~had four~~amounted ~~investments~~to ina ~~equity~~total ~~securities with carrying value~~ of $5172,~~065 (see Note 6)~~000.

~~Accounts~~From June 12, 2019 to May 4, 2020, the company issued ~~receivable~~343,200 shares of common stock at a price of $1.00 per share through the Initial Public Offering (IPO) to 70 non-US residents.

~~Accounts receivable~~On ~~are~~October ~~recorded~~13, 2023, at the ~~invoiced~~Company ~~amount~~issued ~~less~~21,831,660 anshares ~~allowance~~of ~~for~~its ~~any~~restricted ~~uncollectible~~common ~~accounts~~stock at $0.80 per ~~Management~~share ~~reviews~~to the ~~adequacy~~shareholders of ~~the allowance~~Just ~~for~~Supply ~~doubtful~~Chain ~~accounts~~Limited on(“JSCL”), anfor ~~ongoing~~acquisition ~~basis,~~of ~~using~~one ~~historical~~hundred ~~collection~~percent ~~trends~~(100%) ~~and~~of ~~aging~~the equity of ~~receivables~~JSCL. ~~Management~~On ~~also~~May ~~periodically evaluates~~06, ~~individual customer’s financial condition~~2024, ~~credit~~the ~~history~~acquisition ~~and~~has ~~the~~been ~~current~~cancelled ~~economic~~due ~~conditions~~ to ~~make~~factors anthat ~~adjustment~~came to light on the ~~allowance~~valuation ~~when~~of itthe isentity, ~~considered~~resulted ~~necessary.~~on ~~Account~~July ~~balances~~01, ~~are~~2024, ~~charged~~the ~~off~~21,831,660 ~~against~~shares were returned to the ~~allowance~~Company ~~after~~and ~~all~~were ~~means~~held ofas ~~collection~~treasury ~~have been~~shares, ~~exhausted~~subsequently ~~and~~cancellation of the ~~potential~~shares ~~for~~on ~~recovery~~November is12, ~~considered remote~~2024.

~~Cash~~As of December 31, 2024, SEATech Ventures Corp. has an issued and ~~cash~~outstanding ~~equivalents~~common share of 92,519,843.

~~Cash and~~4. ~~cash~~ACCOUNTS 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.RECEIVABLE

~~Income taxes~~ SCHEDULE OF ACCOUNTS RECEIVABLE

The provision of income taxes is determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

	As of December 31, 2024 (Audited)			As of December 31, 2023 (Audited)
Accounts receivable, gross	$	115,000		$	264,500
Allowance for expected credit loss		(115,000	)		(115,000	)
Accounts receivable, net	$	-		$	149,500

~~ASC 740~~The ~~prescribes~~movement ain ~~comprehensive~~the ~~model~~allowance for ~~how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or~~ expected tocredit beloss ~~taken~~for ~~on a tax return. Under ASC 740, tax positions must initially be recognized in~~ the ~~financial~~ ~~statements~~years ~~when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax~~ended ~~positions~~December ~~must~~31, ~~initially~~2024 and ~~subsequently~~December be31, ~~measured~~2023 were 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.~~follows:

~~Going concern~~SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS

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 year ended December 31, 2023, the Company incurred a net loss of $302,829, suffered an accumulated deficit of $896,909 and negative operating cash flow of $124,661. 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.

	As of December 31, 2024 (Audited)		As of December 31, 2023 (Audited)
Balance at beginning of the year	$	115,000	$	-
Additions of allowance		-		115,000
Balance at end of the year	$	115,000	$	115,000

The ~~Company’s~~ ~~ability~~accounts toreceivable ~~continue~~represents asreceivable ~~a going concern is dependent upon improving its profitability and the continuing financial support~~amount from ~~its~~companies ~~Chief~~where ~~Executive Officer cum shareholder. Management believes~~ the ~~existing shareholders or external financing will provide the additional cash to meet the~~ Company’s ~~obligations~~owns asequity ~~they become due. No assurance can be given that any future financing~~interest, ifwhich ~~needed, will be available or, if available, that it will be on terms that~~ are ~~satisfactory~~trade toin ~~the~~nature ~~Company.~~and ~~Even~~subject ~~if the Company is able~~ to ~~obtain additional~~normal ~~financing,~~trade ~~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~~term.

F-1012

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, ~~2023~~2024 AND ~~2022~~2023

(Currency expressed in United States Dollars (“US$”), except for number of shares)

~~Net income/(loss)~~5. ~~per~~DEPOSITS ~~share~~PAID, PREPAYMENTS AND OTHER RECEIVABLES

~~The Company~~Deposits ~~calculates~~paid, ~~net~~prepayments ~~loss~~and ~~per~~other ~~share~~receivables ~~in accordance with ASC Topic 260 “Earnings per share”. Basic loss per share~~consisted ~~is computed by dividing the net loss by the weighted average number~~ of ~~common shares outstanding during~~ the ~~period.~~following ~~Diluted~~as ~~loss per share is computed similar to basic loss per share except that the denominator is increased to include the number~~ of ~~additional~~December ~~common shares~~31, ~~that~~2024 ~~would have been outstanding if the potential common stock equivalents had been issued~~ and ifDecember ~~the~~31, ~~additional common shares were dilutive.~~2023:

~~Foreign~~SCHEDULE OF DEPOSITS PAID, ~~currencies~~PREPAYMENTS ~~translation~~AND OTHER RECEIVABLES

The reporting currency of the Company and its subsidiaries in Labuan and Hong Kong, are United States Dollars (“US$”), while its subsidiaries in Malaysia, maintains the books and record in Ringgit Malaysia (“MYR”), being the primary currency of the economic environment in which these entities operate.

	As of		As of
	December 31, 2024 (Audited)		December 31, 2023 (Audited)
Deposits paid		273		273
Prepayments		1,355		-
Other receivables		1,848		744
Total deposits paid, prepayments and other receivables	$	3,476	$	1,017

~~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~~6. ~~Monetary~~INVESTMENT ~~assets~~IN ~~and~~OTHER 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.COMPANIES

~~In general,~~SCHEDULE ~~for~~OF consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.INVESTMENTS

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		As of
	December 31, 2024 (Audited)		December 31, 2023 (Audited)
AsiaFIN Holdings Corp¹		1,015		1,015
Angkasa-X Holdings Corp^.2		-		1,300
JOCOM Holdings Corp.³		850		850
catTHIS Holdings Corp. ⁴		1,900		1,900
Celmonze Wellness Corporation ⁵		-		650
Total investment in other companies	$	3,765	$	5,715

SCHEDULE OF FOREIGN CURRENCIES TRANSLATION EXCHANGE RATE

	¹	On December 24, 2019, the Company has invested in AsiaFIN Holdings Corp. during the private placement stage. AsiaFIN Holdings Corp. is a company providing business technology solutions to its clients. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation service to AsiaFIN Holdings Corp. The investment in AsiaFIN Holdings Corp. is a strategic investment of the Company and the Company’s efforts on nurturing and providing collaborating and networking opportunities to ICT entrepreneurs across Asia. The investment is also aligning with the Company’s focus on the ICT industry. As of December 31, 2024, the Company acquired 12.26% interest in AsiaFIN Holdings Corp.

	²	On February 5, 2021, the Company has invested in Angkasa-X Holdings Corp. during the private placement stage. Angkasa-X Holdings Corp. is a company focuses on research and development and commercializes on intellectual property design for communication satellites. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to Angkasa-X Holdings Corp. The investment in Angkasa-X Holdings Corp. is a strategic investment of the Company. On August 9, 2024, the Company disposed the entire 5.68 % interest in Angkasa-X Holdings Corp.

	³	On June 1, 2021, the Company has invested in JOCOM Holdings Corp. during the private placement stage. JOCOM Holdings Corp. is a company focuses on m-commerce (Mobile commerce) platform specialized in online groceries and shopping. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to JOCOM Holdings Corp. The investment in JOCOM Holdings Corp. is a strategic investment of the Company. As of December 31, 2024, the Company acquired 14.74% interest in JOCOM Holdings Corp.

	⁴	On August 30, 2021, the Company has invested in catTHIS Holdings Corp. during the private placement stage. catTHIS Holdings Corp. is a company that providing digital marketing service by using technologies such as mobile application known as “catTHIS App”. catTHIS App serve as a marketing tool which provides free digital catalog management platform that gives its users the ability to upload and share PDF catalogs anywhere and from any device. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to catTHIS Holdings Corp. The investment in catTHIS Holdings Corp. is a strategic investment of the company. As of December 31, 2024, the Company acquired 14.99 % interest in catTHIS Holdings Corp.

	⁵	On March 8, 2023, the Company has invested in Celmonze Wellness Corporation during the private placement stage. Celmonze Wellness Corporation is a company focuses on beauty and wellness services. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to Celmonze Wellness Corporation. The investment in Celmonze Wellness Corporation is a strategic investment of the Company. On February 6, 2024, the Company withdrew its investment in Celmonze Wellness Corporation and the fund invested was being refunded to the Company.

	As of and for the year ended December 31,
	2023		2022
Year-end RM : US$1 exchange rate		4.59		4.40
Year-average RM : US$1 exchange rate		4.56		4.40
Year-end HK$: US$1 exchange rate		7.81		7.81
Year-average HK$ : US$1 exchange rate		7.83		7.83

7. ACCOUNT PAYABLE

~~Related parties~~SCHEDULE OF ACCOUNT PAYABLE

As of

December 31, 2024
(Audited)

As of

December 31, 2023
(Audited)

Account payable

285,200

324,200

Total account payable

285,200

324,200

~~F-11~~The account payable represents payable to a wholly owned subsidiary of a corporate shareholder which is trade in nature and subject to normal trade term.

~~SEATECH VENTURES CORP.~~F-13

~~NOTES TO~~SEATECH ~~CONSOLIDATED~~VENTURES ~~FINANCIAL STATEMENTS~~CORP.

~~FOR THE~~NOTES ~~YEARS~~TO ~~ENDED~~CONSOLIDATED ~~DECEMBER~~FINANCIAL ~~31, 2023 AND 2022~~STATEMENTS

~~(Currency expressed~~FOR inTHE ~~United~~YEARS ~~States~~ENDED ~~Dollars~~DECEMBER ~~(“US$”)~~31, ~~except~~2024 ~~for~~AND ~~number of shares)~~2023

~~Fair~~(Currency expressed in United States Dollars (“US$”), ~~value~~except offor ~~financial~~number ~~instruments:~~of shares)

~~The carrying~~8. ~~value~~OTHER ofPAYABLES ~~the~~AND ~~Company’s~~ACCRUED financial instruments: cash and cash equivalents, subscription receivables, prepayment and deposits, accounts payable, and other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments.LIABILITIES

~~The Company~~SCHEDULE ~~also~~OF ~~follows~~OTHER ~~the~~PAYABLES ~~guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”),~~AND ~~with~~ACCRUED 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:LIABILITIES

Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

	As of		As of
	December 31, 2024 (Audited)		December 31, 2023 (Audited)
Accrued audit fees	$	30,682	$	34,070
Accrued professional fees¹		18,612		16,167
Accrued expenses²		27,750		19,173
Total payables and accrued liabilities	$	77,044	$	69,410

~~Recently adopted~~1 ~~Accounting~~Accrued ~~Standards~~professional fees consists of professional fees payable to Asia UBS Global Limited, a related party of the Company.

~~In June~~2 ~~2016,~~Accrued ~~the~~expenses ~~FASB~~include ~~issued~~compensation ~~Accounting~~payable ~~Standards~~to ~~Update~~our ~~No.~~directors ~~2016-13,~~and ~~Financial Instruments – Credit Losses (Topics 326): Measurement of Credit Losses on Financial Instruments~~officers, ~~which~~amounting ~~introduced~~to ~~the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis~~$27,750 ~~replacing~~and ~~the previous incurred loss methodology. In November 2019~~$18,500 ~~the~~as ~~FASB~~of ~~issued ASU 2019-10 highlighted the adoption timeline. For smaller reporting entities, Topic 326 is effective for annual periods beginning after~~ December 1531, ~~2022,~~2024 ~~including~~and ~~interim period within those fiscal years, of which is effective for the Company on January 1,~~ 2023 respectively.

~~Credit loss rate is determined by historical collection based on aging schedule, adjusted for current conditions using reasonable and supportable forecast~~9. ~~Based~~INCOME on the aging categorization and the adjusted loss per category, an allowance for credit losses is calculated by multiplying the adjusted loss rate with the amortized cost in the respective age category.TAXES

~~Recent~~For the year ended December 31, 2024 and year ended ~~accounting~~December ~~pronouncements~~31, 2023, the local (United States) and foreign components of loss before income taxes were comprised of the following:

~~The Company~~SCHEDULE ~~has~~OF ~~reviewed~~(LOSS)/PROFIT ~~all~~BEFORE ~~recently~~INCOME issued, but not yet effective, accounting pronouncements and do 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.TAXES

F-12

	For the year ended December 31, 2024			For the year ended December 31, 2023

Tax jurisdictions from:
- Local	$	(87,345	)	$	(150,570	)
- Foreign, representing
Labuan		(33,519	)		(49,016	)
Hong Kong		(30,104	)		(96,581
Malaysia		(5,958	)		(6,662	)
Loss before income tax	$	(156,926	)	$	(302,829	)

~~SEATECH VENTURES~~The ~~CORP.~~provision for income taxes consisted of the following:

~~NOTES TO~~SCHEDULE ~~CONSOLIDATED~~OF ~~FINANCIAL~~PROVISION ~~STATEMENTS~~FOR INCOME TAXES

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

		For the year ended December 31, 2024		For the year ended December 31, 2023

Current:
- Local	$	-	$	-
- Foreign		-		-

Deferred:
- Local		-		-
- Foreign		-		-

Income tax expense	$	-	$	-

~~(Currency~~The effective tax rate in ~~expressed~~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, ~~Dollars~~Malaysia ~~(“US$”),~~and ~~except~~Hong ~~for~~Kong ~~number~~that ofare ~~shares)~~subject to taxes in the jurisdictions in which they operate, as follows:

~~3. COMMON~~United ~~STOCK~~States of America

OnThe Company is registered in the State of Nevada and ~~April~~is 2,subject ~~2018,~~to the ~~founder~~tax laws of the ~~Company,~~United MrStates of America. ~~Chin~~As ~~Chee~~of ~~Seong~~December ~~purchased~~31, ~~100~~2024,~~000~~ ~~shares~~the ofoperations ~~restricted~~in ~~common~~the ~~stock~~United States of ~~the~~America ~~Company at~~incurred a$631,302 ~~par~~of ~~value~~cumulative net operating losses which can be carried forward indefinitely to offset a maximum of ~~$0.0001~~80% ~~per~~future ~~share.~~taxable income. The ~~monies~~Company ~~from~~has ~~this~~provided ~~transaction,~~for ~~which~~a ~~totalled~~full valuation allowance of $10505,042 ~~went~~against tothe deferred tax assets on the ~~Company~~expected tofuture betax ~~used~~benefits from the net operating loss carryforwards as ~~initial~~the ~~working~~management believes it is more likely than not that these assets will not be realized ~~capital~~in the future.

On May 14, 2018, the Company issued 20,000,000 shares of restricted common stock to Chin Chee Seong and Seah Kok Wah respectively, with a par value of $0.0001 per share, for total additional working capital of $4,000.Labuan

~~On August~~Under ~~7, 2018,~~ the ~~Company~~current ~~issued~~laws ~~10,000,000 shares~~ of ~~restricted~~the ~~common~~Labuan, ~~stock~~SEATech toVentures Corp. ~~Greenpro~~is ~~Venture~~governed ~~Capital~~under ~~Limited~~the ~~with~~Labuan aBusiness ~~par~~Activity ~~value of~~Act, $01990.~~0001~~ ~~per~~The ~~share,~~tax charge for ~~total~~such ~~additional~~company ~~working~~is ~~capital~~based on 3% of ~~$1,000~~its assessable profit.

~~On August~~Hong 8, 2018, the Company issued 30,000,000 shares of restricted common stock to Greenpro Asia Strategic Fund SPC, a company incorporated in Cayman Islands with a par value of $0.0001 per share, for additional working capital of $3,000.Kong

~~On August~~SEATech ~~27,~~Ventures ~~2018,~~Corp. ~~the~~is subject ~~Company issued 10,000,000 shares of restricted common stock~~ to ~~STVC~~Hong ~~Talent~~Kong ~~Sdn.~~Profits ~~Bhd.~~Tax, awhich ~~company~~is ~~incorporated~~charged ~~in Malaysia~~at ~~with~~the astatutory ~~par~~income ~~value~~tax rate of $016.~~0001~~5% ~~per~~on ~~share,~~its ~~for~~assessable ~~additional working capital of $1,000~~income.

~~On September 7, 2018, the Company sold shares to 2 shareholders, of whom reside in~~ Malaysia~~. A total of 750,000 shares of restricted common stock were sold at a price of $0.10 per share. The total proceeds to the Company amounted to a total of $75,000.~~

~~On September~~SEATech ~~12,~~CVC ~~2018,~~Sdn. ~~the~~Bhd. ~~Company~~and SEATech ~~sold~~Ventures ~~shares~~Sdn. toBhd. aare ~~shareholder,~~subject ofto ~~whom reside in~~ Malaysia. ACorporate ~~total of 466~~Tax,~~667~~ ~~shares~~which ofis ~~restricted~~charged ~~common stock were sold~~ at athe ~~price~~statutory ofincome ~~$0.15~~tax ~~per~~rate ~~share.~~range ~~The~~from ~~total~~15% ~~proceeds~~ to 24% ~~the~~on ~~Company~~its ~~amounted~~assessable ~~to a total of $70,000~~income.

In between September 21, 2018 and November 29, 2018, the Company sold shares to 44 shareholders, of whom reside in Malaysia. A total of 860,000 shares of restricted common stock were sold at a price of $0.20 per share. The total proceeds to the Company amounted to a total of $172,000.F-14

~~From June~~SEATECH ~~12,~~VENTURES ~~2019 to May 4, 2020, the company issued 343,200 shares of common stock at a price of $1~~CORP.~~00 per share through the Initial Public Offering (IPO) to 70 non-US residents.~~

OnNOTES ~~October~~TO ~~13, 2023,~~CONSOLIDATED ~~the~~FINANCIAL Company issued 21,831,660 shares of its restricted common stock at $0.80 per share to 8 shareholders of Just Supply Chain Limited (“JSCL”), for acquisition of one hundred percent (100%) of the equity of JSCL. As of the date of this filing, the acquisition on July 12, 2023 has been cancelled due to factors that came to light on the valuation of the entitySTATEMENTS

~~As of~~FOR ~~December~~THE ~~31,~~YEARS ~~2023,~~ENDED ~~SEATech~~DECEMBER ~~Ventures~~31, ~~Corp.~~2024 ~~has~~AND ~~an issued and outstanding common share of 114,351,503.~~2023

4.(Currency expressed in United States Dollars (“US$”), ~~ACCOUNTS~~except ~~RECEIVABLE~~for number of shares)

~~SCHEDULE~~10. OFNET ~~ACCOUNT~~LOSS ~~RECEIVABLE~~PER SHARE

	As of December 31, 2023 (Audited)			As of December 31, 2022 (Audited)
Accounts receivable, gross	$	264,500		$	120,000
Allowance for expected credit loss		(115,000	)		-
Accounts receivable, net	$	149,500		$	120,000

Basic net loss per share is computed using the weighted average number of common shares outstanding during the year. The following table sets forth the computation of basic and diluted net loss per share for the years ended December 31, 2024 and 2023:

~~The movement~~SCHEDULE inOF ~~the~~COMPUTATION ~~allowance~~OF ~~for~~BASIC ~~expected~~AND DILUTED ~~credit~~NET ~~loss~~LOSS ~~for~~PER ~~the years ended December 31, 2023 and December 31, 2022 were as follows:~~SHARE

SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSSES

Schedule of computation of net loss per share:	For the year ended December 31, 2024 (Audited)			For the year ended December 31, 2023 (Audited)
Net loss attributable to common shareholders	$	(157,187	)	$	(302,872	)

Weighted average common shares outstanding – Basic and diluted		111,420,677			97,304,864

Net loss per share – Basic and diluted (cent)#	$	(0.00	)	$	(0.00	)

	As of December 31, 2023 (Audited)		As ofDecember 31, 2022 (Audited)
Balance at beginning of the year	$	-	$	-
Additions of allowance		115,000		-
Balance at end of the year	$	115,000	$	-

For the year ended December 31, 2024 and 2023, diluted weighted-average common shares outstanding is equal to basic weighted-average common shares, due to the Company’s net loss position. Hence, no common stock equivalents were included in the computation of diluted net loss per share since such inclusion would have been antidilutive.

~~The accounts~~11. ~~receivable~~COMMITMENTS ~~represents~~AND ~~receivable amount from companies where the Company owns equity interest, which are trade in nature and subject to normal trade term.~~CONTINGENCIES

~~F-13~~As of December 31, 2024 and 2023, the Company has no commitments or contingencies involved.

~~SEATECH~~12. RELATED PARTY BALANCES ~~VENTURES~~AND ~~CORP.~~TRANSACTIONS

~~NOTES~~ SCHEDULE TOOF ~~CONSOLIDATED~~RELATED ~~FINANCIAL~~PARTY ~~STATEMENTS~~BALANCES AND TRANSACTIONS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

Accounts receivable from related parties (Refer Note 4):	As of December 31, 2024 (Audited)		As of December 31, 2023 (Audited)
Accounts receivable, net
- catTHIS Holdings Corp.¹ (net of allowance of $ 115,000 as of December 31, 2024 and December 31, 2023 respectively)	$	-	$	-
- JOCOM Holdings Corp.¹		-		69,500
-Celmonze Wellness Corporation²		-		80,000
Total	$	-	$	149,500
Accounts receivable from related parties	$	-	$	149,500

~~(Currency expressed~~The inabove ~~United~~related ~~States~~party ~~Dollars~~receivables are ~~(“US$”),~~trade ~~except~~in ~~for~~nature ~~number~~and ofsubject ~~shares)~~to normal trade terms.

5. DEPOSITS PAID, PREPAYMENTS AND OTHER RECEIVABLES

Account payable due to related parties (Refer Note 7):	As of December 31, 2024 (Audited)		As of December 31, 2023 (Audited)

Account payable:
- GreenPro Financial Consulting Limited⁴	$	285,200	$	324,200
Accounts payable	$	285,200	$	324,200

~~Deposits paid,~~The ~~prepayments~~above ~~and~~related ~~other~~party ~~receivables~~account ~~consisted~~payable ofis ~~the~~trade ~~following~~in asnature ~~of December 31, 2023~~ and ~~December~~subject to ~~31,~~normal ~~2022:~~trade terms.

SCHEDULE OF DEPOSITS PAID, PREPAYMENTS AND OTHER RECEIVABLES

Other payables due to related parties (Refer Note 8):

- Mr. Chin Chee Seong (Director and Executive Officer)		15,000		8,750
- Mr. Tan See Meng (Director)		6,000		-
- Mr. Prabodh Kumar A/L Kantilal H. Sheth (Former Executive Officer, resigned on May 8, 2024)		1,250		-
- Mr. Tan Hock Chye (Executive Officer)		-		3,750
- Mr. Louis Ramesh Ruben (Director)		-		2,000
- Mr. Cheah Kok Hoong (Director)		5,500		2,000
- Mr. Seah Kok Wah (Director)		-		2,000
- Asia UBS Global Limited³		12,600		14,500
Total	$	40,350	$	33,000
Other payables due to related parties	$	40,350	$	33,000

	As of		As of
	December 31, 2023 (Audited)		December 31, 2022 (Audited)
Deposits paid		273		-
Other receivables		744		-
Total deposits paid, prepayments and other receivables	$	1,017	$	-

The above other payables to directors and executive officers represent salary and director fees payable.

6.The above other payable to ~~INVESTMENT~~Asia INUBS ~~OTHER~~Global ~~COMPANIES~~Limited represent payables due for professional fees.

~~SCHEDULE OF INVESTMENTS~~F-15

	As of		As of
	December 31, 2023 (Audited)		December 31, 2022 (Audited)
AsiaFIN Holdings Corp1		1,015		1,015
Angkasa-X Holdings Corp.2		1,300		1,300
JOCOM Holdings Corp.3		850		850
catTHIS Holdings Corp. 4		1,900		1,900
Celmonze Wellness Corporation 5		650		-
Total investment in other companies	$	5,715	$	5,065

SEATECH VENTURES CORP.

	1	On December 24, 2019, the Company has invested in AsiaFIN Holdings Corp. during the private placement stage. AsiaFIN Holdings Corp. is a company providing business technology solutions to its clients. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation service to AsiaFIN Holdings Corp. The investment in AsiaFIN Holdings Corp. is a strategic investment of the Company and the Company’s efforts on nurturing and providing collaborating and networking opportunities to ICT entrepreneurs across Asia. The investment is also aligning with the Company’s focus on the ICT industry. As of December 31, 2023, the Company acquired 12.26% interest in AsiaFIN Holdings Corp.
	2	On February 5, 2021, the Company has invested in Angkasa-X Holdings Corp. during the private placement stage. Angkasa-X Holdings Corp. is a company focuses on research and development and commercializes on intellectual property design for communication satellites. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to Angkasa-X Holdings Corp. The investment in Angkasa-X Holdings Corp. is a strategic investment of the Company. As of December 31, 2023, the Company acquired 5.68 % interest in Angkasa-X Holdings Corp.
	3	On June 1, 2021, the Company has invested in JOCOM Holdings Corp. during the private placement stage. JOCOM Holdings Corp. is a company focuses on m-commerce (Mobile commerce) platform specialized in online groceries and shopping. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to JOCOM Holdings Corp. The investment in JOCOM Holdings Corp. is a strategic investment of the Company. As of December 31, 2023, the Company acquired 14.74% interest in JOCOM Holdings Corp.
	4	On August 30, 2021, the Company has invested in catTHIS Holdings Corp. during the private placement stage. catTHIS Holdings Corp. is a company that providing digital marketing service by using technologies such as mobile application known as “catTHIS App”. catTHIS App serve as a marketing tool which provides free digital catalog management platform that gives its users the ability to upload and share PDF catalogs anywhere and from any device. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to catTHIS Holdings Corp. The investment in catTHIS Holdings Corp. is a strategic investment of the company. As of December 31, 2023, the Company acquired 14.99 % interest in catTHIS Holdings Corp.
	5	On March 8, 2023, the Company has invested in Celmonze Wellness Corporation during the private placement stage. Celmonze Wellness Corporation is a company focuses on beauty and wellness services. SEATech Ventures Corp. also provides corporate development, mentoring, and incubation services to Celmonze Wellness Corporation. The investment in Celmonze Wellness Corporation is a strategic investment of the Company. Subsequently on February 6, 2024, the Company withdrew its investment in Celmonze Wellness Corporation and the fund invested was being refunded to the Company.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~7. ACCOUNT~~FOR ~~PAYABLE~~THE YEARS ENDED DECEMBER 31, 2024 AND 2023

~~SCHEDULE~~(Currency expressed in United States Dollars (“US$”), OFexcept ~~ACCOUNT~~for ~~PAYABLE~~number of shares)

	As of December 31, 2023 (Audited)		As of December 31, 2022 (Audited)
	As of		As of
Account payable	$	324,200	$	96,000
Investment in related parties:	December 31, 2024 (Audited)		December 31, 2023 (Audited)
Total account payable	$	324,200	$	96,000
AsiaFIN Holdings Corp 1		1,015		1,015
Angkasa-X Holdings Corp.2		-		1,300
JOCOM Holdings Corp.1		850		850
catTHIS Holdings Corp.1		1,900		1,900
Celmonze Wellness Corporation3		-		650
Total	$	3,765	$	5,715
Investment in related parties	$	3,765	$	5,715

~~The account~~For ~~payable~~the ~~represents~~years ~~payable~~ended toDecember 31, a2024 ~~wholly~~and ~~owned~~2023, ~~subsidiary~~the ofCompany ahas ~~corporate~~following ~~shareholder~~transactions ~~which~~with isrelated ~~trade in nature and subject to normal trade term.~~parties:

F-14

	For the year ended December 31, 2024 (Audited)		For the year ended December 31, 2023 (Audited)
Included in Revenue are the following sales to related parties:
- GreenPro Financial Consulting Limited⁵	$	-	$	11,640
- AsiaFIN Holdings Corp.¹		-		12,500
- catTHIS Holdings Corp.¹		-		120,000
-Celmonze Wellness Corporation³		-		184,200
- GreenPro Venture Capital Limited⁶		-		-
Total	$	-	$	328,340
Revenue	$	-	$	328,340

Included in Cost of revenue is the following costs incurred from a related party:
- GreenPro Financial Consulting Limited⁵	$	-	$	251,700
Total	$	-	$	251,700
Cost of revenue	$	-	$	251,700

Included in General and administrative are the following expenses to related parties:

Executives’ compensation:
- Mr. Chin Chee Seong (Director and Executive Officer)	$	15,000	$	14,669
- Mr. Tan See Meng (Director)		6,000		-
- Mr. Prabodh Kumar A/L Kantilal H. Sheth (former Executive Officer, resigned on May 8, 2024)		3,750		-
- Mr. Tan Hock Chye (Executive Officer)		-		14,669
Total	$	24,750	$	29,338
Executives’ compensation	$	24,750	$	29,338

Non-executive Directors’ compensation:
- Mr. Louis Ramesh Ruben	$	-	$	6,000
- Mr. Cheah Kok Hoong		6,000		6,000
- Mr. Seah Kok Wah		-		6,000
Total	$	6,000		18,000
Non-executive Directors’ compensation	$	6,000		18,000

Company secretary fees:
-Asia UBS Global Limited⁴	$	5,250	$	9,830
Company secretary fees	$	5,250	$	9,830

Professional fees:
- Asia UBS Global Limited⁴	$	10,800	$	10,900
Professional fees	$	10,800	$	10,900

SEATECH VENTURES CORP.

¹		As of December 31, 2024, the Company owns 12.26%, 14.76% and 14.99% of interest in AsiaFIN Holdings Corp., JOCOM Holdings Corp. and catTHIS Holdings Corp. respectively.

²		Divestment in Angkasa-X Holdings Corp.occurred on August 9, 2024 due to the management decision.

~~NOTES TO~~3 ~~CONSOLIDATED~~Divestment ~~FINANCIAL~~in ~~STATEMENTS~~Celmonze Wellness Corporation occurred on February 6, 2024 due to the restructuring of Celmonze Wellness Corporation.

~~FOR THE~~4 ~~YEARS~~Asia ~~ENDED~~UBS ~~DECEMBER~~Global 31Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, ~~2023~~owns ~~AND~~49.45% ~~2022~~shareholding in the Company.

~~(Currency expressed~~5 inGreenPro ~~United~~Financial ~~States~~Consulting ~~Dollars~~Limited is a subsidiary of GreenPro Capital Corp. (~~“US$”~~GRNQ). GRNQ through its wholly owned subsidiaries, ~~except~~owns ~~for~~49.45% ~~number~~shareholding ofin ~~shares)~~the Company.

~~8. OTHER PAYABLES AND ACCRUED LIABILITIES~~F-16

~~SCHEDULE OF~~SEATECH ~~OTHER~~VENTURES ~~PAYABLES AND ACCRUED LIABILITIES~~ CORP.

	As of		As of
	December 31, 2023 (Audited)		December 31, 2022 (Audited)
Accrued audit fees	$	34,070	$	19,203
Accrued professional fees1		16,167		1,541
Accrued expenses2		19,173		36,628
Total payables and accrued liabilities	$	69,410	$	57,372

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1FOR ~~Accrued~~THE ~~professional~~YEARS ~~fees~~ENDED ~~consists~~DECEMBER ~~of professional fees payable to Asia UBS Global Limited~~31, a2024 ~~related~~AND ~~party of the Company.~~2023

2(Currency ~~Accrued~~expressed ~~expenses~~in ~~include~~United ~~compensation~~States ~~payable~~Dollars ~~to our directors and officers, amounting to~~ (“US$18”),~~500~~ except ~~and~~for ~~$2,000~~number as of ~~December 31, 2023 and 2022 respectively.~~shares)

913. ~~AMOUNT~~ ~~DUE~~CONCENTRATIONS TOOF ~~A CORPORATE SHAREHOLDER~~RISKS

~~The amount due to~~ (a) ~~corporate~~Major ~~shareholder represents amount payable for the refund of sponsorship for events concluded during the financial year, which is unsecured, interest free and payable on demand.~~customers

For the years ended December 31, 2024 and 2023, the customers who accounted for 10.% or more of the Company’s revenues and its accounts receivable balance at year-end are presented ~~INCOME~~as ~~TAXES~~follows:

~~For the~~SCHEDULE ~~year~~OF ~~ended~~CONCENTRATION ~~December 31, 2023 and year ended December 31, 2022, the local (United States) and foreign components of (loss) / profit~~OF ~~before income taxes were comprised of the following:~~RISK

SCHEDULE OF (LOSS)/PROFIT BEFORE INCOME TAXES

	For the year ended December 31
	2024		2023		2024			2023			2024		2023
	Revenues				Percentage of Revenues						Accounts Receivable, Trade
Customer A	$	-	$	120,000		-	%		37	%	$	-	$	115,000
Customer B	$	-	$	184,200		-	%		56	%	$	-		80,000
	$	-	$	304,200		-	%		93	%	$	-	$	195,000

	For the year ended December 31, 2023			For the year ended December 31, 2022
Tax jurisdictions from:
- Local	$	(150,570	)	$	(58,780	)
- Foreign, representing
Labuan		(49,016	)		(52,009	)
Hong Kong		(96,581	)		19,165
Malaysia		(6,662	)		(2,533	)
Loss before income tax	$	(302,829	)	$	(94,157	)

(b) Major vendors

~~The~~For the years ended December 31, 2024 and 2023, the ~~provision~~vendors who accounted for ~~income~~10% ~~taxes~~or ~~consisted~~more of the ~~following~~Company’s purchases and its accounts payable balance at year-end are presented as follows:

SCHEDULE OF PROVISION FOR INCOME TAXES

	For the year ended December 31
	2024		2023		2024			2023			2024		2023
	Purchases				Percentage of Purchases						Account Payable, Trade
Vendor A	$	-	$	251,700		-	%		100	%	$	-	$	324,200
	$	-	$	251,700		-	%		100	%	$	-	$	324,200

	For the year ended December 31, 2023		For the year ended December 31, 2022
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

~~The effective~~Financial ~~tax~~instruments ~~rate~~that inare ~~the~~potentially ~~periods~~subject to ~~presented~~credit isrisk ~~the~~consist ~~result~~principally of accounts receivable. The Company believes the ~~mix~~concentration of ~~income~~credit ~~earned~~risk in ~~various~~its ~~tax~~trade ~~jurisdictions~~receivables is ~~that~~substantially ~~apply~~mitigated aby ~~broad range~~its ofongoing ~~income~~credit ~~tax~~evaluation ~~rates~~process and relatively short collection terms. The Company ~~has~~does ~~subsidiaries~~not ~~that~~generally require ~~operate~~collateral infrom ~~various~~customers. ~~countries:~~The ~~United~~Company ~~States,~~evaluates ~~Malaysia~~the ~~and~~need ~~Hong~~for ~~Kong~~an ~~that are~~allowance ~~subject~~for todoubtful ~~taxes~~accounts inbased upon factors surrounding the ~~jurisdictions~~credit inrisk ~~which~~of ~~they~~specific ~~operate~~customers, ashistorical ~~follows:~~trends and other information.

~~United States~~14. ofSEGMENT ~~America~~INFORMATION

~~The Company~~ASC is280, ~~registered~~“Segment inReporting” ~~the~~establishes standards ~~State~~for ofreporting ~~Nevada~~information ~~and~~about isoperating ~~subject~~segments toon ~~the~~a ~~tax~~basis ~~laws~~consistent ofwith the ~~United~~Company’s ~~States~~internal oforganization ~~America.~~structure as Aswell ofas ~~December~~information ~~31,~~about ~~2023~~services categories, ~~the~~ ~~operations~~business segments and major customers in financial statements. In accordance with the “Segment ~~United~~Reporting” ~~States~~Topic of ~~America~~the ~~incurred $543~~ASC,~~956~~ ofthe ~~cumulative~~Company’s ~~net~~chief operating ~~losses~~decision ~~which~~maker ~~can~~has bebeen ~~carried~~identified ~~forward~~as ~~indefinitely~~the Chief Executive Officer and President, who reviews operating results to ~~offset~~make adecisions ~~maximum~~about ofallocating ~~80%~~resources ~~future~~and ~~taxable~~assessing ~~income.~~performance for ~~The~~the entire Company. ~~has~~Existing ~~provided~~guidance, ~~for~~which is based on a ~~full~~management ~~valuation~~approach ~~allowance~~to ofsegment ~~$435~~reporting,~~165~~ ~~against~~establishes ~~the~~requirements ~~deferred~~to report ~~tax~~selected ~~assets~~segment oninformation ~~the~~quarterly ~~expected~~and ~~future~~to ~~tax~~report ~~benefits~~annually ~~from~~entity-wide ~~the~~disclosures ~~net~~about ~~operating~~products ~~loss~~and ~~carryforwards~~services, asmajor customers, and the ~~management~~countries ~~believes~~in itwhich isthe ~~more~~entity ~~likely~~holds material assets and reports revenue. All material operating units qualify for aggregation under ~~than~~“Segment ~~not~~Reporting” ~~that~~due ~~these~~to ~~assets~~their ~~will~~similar ~~not~~customer bebase ~~realized~~and similarities in ~~the~~economic ~~future~~characteristics; nature of products and services; and procurement, manufacturing and distribution processes.

~~Labuan~~F-17

~~Under the~~SEATECH ~~current~~VENTURES ~~laws of the Labuan, SEATech Ventures Corp~~CORP. ~~is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of its assessable profit.~~

~~Hong Kong~~NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

~~SEATech Ventures~~FOR ~~Corp.~~THE isYEARS ~~subject~~ENDED toDECEMBER ~~Hong Kong Profits Tax~~31, ~~which~~2024 isAND ~~charged at the statutory income tax rate of 16.5% on its assessable income.~~2023

~~Malaysia~~(Currency expressed in United States Dollars (“US$”), except for number of shares)

~~SEATech CVC~~The ~~Sdn.~~Company ~~Bhd.~~had ~~and~~no ~~SEATech~~inter-segment ~~Ventures~~sales ~~Sdn.~~for ~~Bhd~~the years presented. ~~are~~Summarized ~~subject~~financial toinformation ~~Malaysia~~concerning ~~Corporate Tax, which is charged at~~ the ~~statutory~~Company’s ~~income~~reportable ~~tax~~segments ~~rate range~~is ~~from~~shown ~~15%~~as ~~to 24% on its assessable income.~~below:

~~F-15~~By Geography:

~~SEATECH VENTURES~~SCHEDULE ~~CORP.~~OF REPORTABLE SEGMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

	United States			Malaysia			Hong Kong			Total
	For the year ended December 31, 2024
	United States			Malaysia			Hong Kong			Total

Revenues	$	-		$	-		$	-		$	-
Cost of revenues		-			-			-			-
Net loss		(87,345	)		(39,477	)		(30,104	)		(156,926	)

Total assets	$	1,310		$	17,380		$	881		$	19,571

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

	United States			Malaysia			Hong Kong			Total
	For the year ended December 31, 2023
	United States			Malaysia			Hong Kong			Total

Revenues	$	-		$	-		$	328,340		$	328,340
Cost of revenues		-			-			(251,700	)		(251,700	)
Net loss		(150,570	)		(55,678	)		(96,581	)		(302,829	)

Total assets	$	10		$	34,547		$	151,067		$	185,624

~~(Currency expressed~~*Revenues inand ~~United~~costs ~~States~~are ~~Dollars~~attributed ~~(“US$”),~~to ~~except~~countries ~~for~~based on ~~number~~the location of ~~shares)~~customers.

1115. ~~NET~~ ~~LOSS PER SHARE~~SIGNIFICANT EVENT

~~Basic~~Acquisition ~~net loss per share is computed using the weighted average number~~ of ~~common~~Just ~~shares~~Supply ~~outstanding~~Chain ~~during~~Limited, ~~the~~a ~~year.~~British ~~The~~Virgin ~~following~~Islands ~~table sets forth the computation of basic and diluted net loss per share for the years ended December 31, 2023 and 2022:~~company

~~SCHEDULE~~On OFJuly ~~COMPUTATION~~12, 2023, OFthe Company entered into an agreement to acquire 100% of the issued and outstanding shares of Just Supply Chain Limited, ~~BASIC~~a ~~AND~~British ~~DILUTED~~Virgin ~~NET~~Islands ~~LOSS~~company ~~PER~~(“JSCL”), from ~~SHARE~~ Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei, at a consideration of $17,465,328 via issuance of common stocks of the Company.

Schedule of computation of net loss per share:	For the year ended December 31, 2023 (Audited)			For the year ended December 31, 2022 (Audited)
Net loss attributable to common shareholders	$	(302,872	)	$	(94,276	)
Weighted average common shares outstanding – Basic and diluted		97,304,864			92,519,843
Net loss per share – Basic and diluted (cent)#	$	(0.00	)	$	(0.09	)

The principal activity of JSCL is engaging in online logistic booking platform for customers in Malaysia to book delivery services via the “JustLorry” App available in both Android and Apple IOS devices through its wholly-owned subsidiary, Just Supply Chain Sdn. Bhd. (“JSCSB”), a private limited company in Malaysia.

#On ~~For~~October 13, 2023, the ~~year~~Company ~~ended~~issued ~~December 31~~21,831,660 ~~2023~~shares ~~and~~of ~~2022,~~its ~~diluted~~restricted ~~weighted-average~~ common ~~shares~~stock ~~outstanding~~at is$0.80 per ~~equal~~share to ~~basic~~the ~~weighted-average common~~8 ~~shares,~~shareholders ~~due~~of toJSCL for the ~~Company’s~~acquisition ~~net~~of ~~loss~~100% ~~position~~of the equity of JSCL. ~~Hence~~On May 06, no2024, the ~~common~~acquisition ~~stock~~has ~~equivalents~~been ~~were~~cancelled ~~included~~due into factors that came to light on the ~~computation~~valuation of the entity, resulted on July 01, 2024, the 21,831,660 ~~diluted~~shares ~~net~~were ~~loss~~returned ~~per~~to ~~share~~the ~~since~~Company ~~such~~and ~~inclusion~~were ~~would~~held ~~have~~as ~~been~~treasury ~~antidilutive~~shares, subsequently cancellation of the shares on November 12, 2024.

1216. ~~COMMITMENTS~~ ~~AND~~SUBSEQUENT ~~CONTINGENCIES~~EVENTS

~~As of~~In ~~December~~accordance 31with ASC Topic 855, ~~2023~~“Subsequent Events”, which establishes general standards of accounting for and ~~2022~~disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all subsequent events through the filing date of this Form 10-K with the SEC, to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of December 31, 2024, and events which occurred subsequently but were not recognized in the financial statements. During the year, there was no ~~commitments~~subsequent event orthat ~~contingencies~~required ~~involved~~recognition or disclosure.

~~13. RELATED PARTY BALANCES AND TRANSACTIONS~~F-18

SCHEDULE OF RELATED PARTY BALANCES AND TRANSACTIONS

Accounts receivable from related parties (Refer Note 4):	As of December 31, 2023 (Audited)		As of December 31, 2022 (Audited)
Accounts receivable, net
- catTHIS Holdings Corp.1 (net of allowance of $ 115,000 as of December 31, 2023)	$	-	$	-
- JOCOM Holdings Corp.1		69,500		120,000
-Celmonze Wellness Corporation2		80,000		-
Total	$	149,500	$	120,000
Accounts receivable from related parties	$	149,500	$	120,000

The above related party receivables are trade in nature and subject to normal trade terms.

Account payable due to related parties (Refer Note 7):	As of December 31, 2023 (Audited)		As of December 31, 2022 (Audited)
Account payable:
- GreenPro Financial Consulting Limited4	$	324,200	$	96,000
Account payable	$	324,200	$	96,000

The above related party account payable is trade in nature and subject to normal trade terms.

Other payables due to related parties (Refer Note 8):
- Mr. Chin Chee Seong (Director and Executive Officer)		8,750		-
- Mr. Tan Hock Chye (Executive Officer)		3,750		-
- Mr. Louis Ramesh Ruben (Director)		2,000		1,000
- Mr. Cheah Kok Hoong (Director)		2,000		1,000
- Mr. Seah Kok Wah (Director)		2,000		-
- Asia UBS Global Limited3		14,500		3,600
Total	$	33,000	$	5,600
Other payables due to related parties	$	33,000	$	5,600

F-16

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

The above other payables to directors and executive officers represent salary and director fees payable.

The above other payable to Asia UBS Global Limited represent payables due for professional fees.

	As of		As of
Investment in related parties:	December 31, 2023 (Audited)		December 31, 2022 (Audited)
AsiaFIN Holdings Corp 1		1,015		1,015
Angkasa-X Holdings Corp.1		1,300		1,300
JOCOM Holdings Corp.1		850		850
catTHIS Holdings Corp.1		1,900		1,900
Celmonze Wellness Corporation2		650		-
Total	$	5,715	$	5,065
Investment in related parties	$	5,715	$	5,065

For the years ended December 31, 2023 and 2022, the Company has following transactions with related parties:

	For the year ended December 31, 2023 (Audited)		For the year ended December 31, 2022 (Audited)
Included in Revenue are the following sales to related parties:
- GreenPro Financial Consulting Limited4	$	11,640	$	-
- AsiaFIN Holdings Corp.1		12,500		-
- JOCOM Holdings Corp.1		-		280,000
- catTHIS Holdings Corp.1		120,000		160,000
-Celmonze Wellness Corporation2		184,200		-
- GreenPro Venture Capital Limited5		-		87,089
Total	$	328,340	$	527,089
Revenue	$	328,340	$	527,089
Included in Cost of revenue is the following costs incurred from a related party:
- GreenPro Financial Consulting Limited4	$	251,700	$	352,000
- Asia UBS Global Limited3		-		8,000
- GreenPro Newfin Academy Sdn. Bhd.6		-		6,300
Cost of revenue	$	251,700	$	366,300
Included in General and administrative are the following expenses to related parties:
Executives’ compensation:
- Mr. Chin Chee Seong (Director and Executive Officer)	$	14,669	$	13,712
- Mr. Tan Hock Chye (Executive Officer)		14,669		13,712
- Mr. Seah Kok Wah (Chief Investment Officer)		-		11,446
Total	$	29,338	$	38,870
Executives’ compensation	$	29,338	$	38,870
Non-executive Directors’ compensation:
- Mr. Louis Ramesh Ruben	$	6,000	$	6,000
- Mr. Cheah Kok Hoong		6,000		6,000
- Mr. Seah Kok Wah		6,000		-
Total	$	18,000		12,000
Non-executive Directors’ compensation	$	18,000		12,000
Company secretary fees:
-Asia UBS Global Limited3	$	9,830	$	8,150
-GreenPro Resources Sdn. Bhd.7		-		1,092
	$	9,830	$	9,242
Professional fees:
- Asia UBS Global Limited3	$	10,900	$	9,000
Professional fees	$	10,900	$	9,000

1 As of December 31, 2023, the Company owns 12,26%, 5.68%, 14,76% and 14.99% of interest in AsiaFIN Holdings Corp., Angkasa-X Holdings Corp., JOCOM Holdings Corp. and catTHIS Holdings Corp. respectively.

2 As of December 31, 2023, the Company invested USD 650 in Celmonze Wellness Corporation during the private placement stage. Subsequently the divestment occurred on February 6, 2024 due to the restructuring of Celmonze Wellness Corporation.

3 Asia UBS Global Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.

4 GreenPro Financial Consulting Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.

5	GreenPro Venture Capital Limited is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.
6	The major shareholder of GreenPro Newfin Academy Sdn. Bhd. is a shareholder of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.
7	GreenPro Resources Sdn. Bhd. is a subsidiary of GreenPro Capital Corp. (GRNQ). GRNQ through its wholly owned subsidiaries, owns 27.55% shareholding in the Company.

F-17

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

14. CONCENTRATIONS OF RISKS

(a) Major customers

For the years ended December 31, 2023 and 2022, the customers who accounted for 10% or more of the Company’s revenues and its accounts receivable balance at year-end are presented as follows:

SCHEDULE OF CONCENTRATION OF RISK

	For the year ended December 31
	2023		2022		2023			2022			2023		2022
	Revenues				Percentage of Revenues						Accounts Receivable, Trade
Customer A	$	-	$	280,000		-	%		51	%	$	69,500	$	120,000
Customer B	$	120,000	$	160,000		37	%		29	%	$	115,000	$	-
Customer C	$	-	$	87,089		-	%		17	%	$	-		-
Customer D	$	184,200	$	-		56	%		-	%	$	80,000		-
	$	304,200	$	527,089		93	%		97	%	$	264,500	$	120,000

(b) Major vendors

For the years ended December 31, 2023 and 2022, the vendors who accounted for 10% or more of the Company’s purchases and its accounts payable balance at year-end are presented as follows:

	For the year ended December 31
	2023		2022		2023			2022			2023		2022
	Purchases				Percentage of Purchases						Account Payable, Trade
Vendor A	$	251,700	$	366,300		100	%		81	%	$	324,200	$	96,000
	$	251,700	$	366,300		100	%		81	%	$	324,200	$	96,000

Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its trade 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.

15. SEGMENT INFORMATION

ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes.

F-18

SEATECH VENTURES CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

(Currency expressed in United States Dollars (“US$”), except for number of shares)

The Company had no inter-segment sales for the years presented. Summarized financial information concerning the Company’s reportable segments is shown as below:

SCHEDULE OF REPORTABLE SEGMENTS

By Geography:

	United States			Malaysia			Hong Kong			Total
	For the year ended December 31, 2023
	United States			Malaysia			Hong Kong			Total
Revenues	$	-		$	-		$	328,340		$	328,340
Cost of revenues		-			-			(251,700	)		(251,700	)
Net loss		(150,570	)		(55,678	)		(96,581	)		(302,829	)
Total assets	$	10		$	34,547		$	151,067		$	185,624

	United States			Malaysia			Hong Kong			Total
	For the year ended December 31, 2022
	United States			Malaysia			Hong Kong			Total
Revenues	$	-		$	90,230		$	457,865		$	548,095
Cost of revenues		-			(87,753	)		(366,300	)		(454,053	)
Net (loss) / profit		(58,780	)		(54,542	)		19,165			(94,157	)
Total assets	$	10		$	118,329		$	142,919		$	261,258

*Revenues and costs are attributed to countries based on the location of customers.

16. SIGNIFICANT EVENT

Acquisition of Just Supply Chain Limited, a British Virgin Islands company

On July 12, 2023, the Company entered into an agreement to acquire 100% of the issued and outstanding shares of Just Supply Chain Limited, a British Virgin Islands company (“JSCL”), from Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei, at a consideration of $17,465,328 via issuance of common stocks of the Company.

On October 13, 2023, the Company issued 21,831,660 shares of its restricted common stock at $0.80 per share to the 8 shareholders of JSCL for the acquisition of 100% of the equity of JSCL. As of the date of this filing, the acquisition on July 12, 2023 has been cancelled due to factors that came to light on the valuation of the entity.

17. SUBSEQUENT EVENTS

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, the Company has evaluated all subsequent events through the filing date of this Form 10-K with the SEC, to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of December 31, 2023, and events which occurred subsequently but were not recognized in the financial statements. During the year, there was no subsequent event that required recognition or disclosure.

F-19

Filing Compare · SEATech Ventures Corp.