What changed in this filing

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Item 7. Management’s Discussion and Analysis

2023-03-30 compared with 2022-03-29 · 78 added, 45 removed, 143 unchanged (46% of the section changed)

17 unchanged sentences

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

The purpose of 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.

of SEATech Ventures Corp.

Labuan, Malaysia is to act as a holding company.

purpose of SEATech Ventures (HK) Limited is to become the current regional hub for business activities and to engage

in operational functions.

SEATech Ventures (HK) Limited owns 60% of the newly incorporated

SEATech Bigorange CVC Sdn Bhd , which is a company in Malaysia, as

part of the business development initiative.

present, we have a physical office in in Bangsar South with address 11-05 & 11-06, Tower A, Ave 3 Vertical Business Suite, Jalan

Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

Ventures Corp.

group of companies business activities is that

of providing 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

purpose of SEATech Ventures (HK) Limited is to become the current regional hub for business activities and to engage in operational functions.

SEATech Ventures (HK) 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.

our physical office in in Bangsar South with address 11-05 & 11-06, Tower A, Ave 3 Vertical Business Suite, Jalan Kerinchi, Bangsar

South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

Group business activities are mainly providing 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, 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 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

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 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 programs.

part of our expansion plan, on September 20, 2022 Greenpro Capital Corp.

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

of Operations

13 unchanged sentences

These expenses

are comprised of salary, consultancy fees for listing advisory, professional fee, compliance fee, office and operation expenses and depreciation.

are comprised of salary, professional fee, compliance fee, office and operation expenses.

Company recorded an amount of $1,936 and $1,546 as other income for the year ended December 31, 2022 and 2021 respectively.

1 unchanged sentence

Loss and Net Loss Margin

net loss for the year was $101,650, for the year ended December 31, 2021 as compared to $107,186 for the year ended December 31, 2020.

The decrease in net loss of $5,536 was contributed to the higher gross profit generate from sales.

Taking into the loss for the year

ended December 31, 2021, the accumulated loss for the Company has increased from $398,537 to $499,923.

The net loss was $94,157 for the year ended December 31, 2022 as compared to $101,650 for the year ended December 31, 2021.

in net loss of $7,493 was contributed to the higher revenue generated for the year ended December 31, 2022.

Taking into the loss for the

year ended December 31, 2022, the accumulated loss for the Company has increased from $499,923 to $594,080.

and Capital Resources

5 unchanged sentences

Used in Operating Activities

the year ended December 31, 2021 and 2020, net cash used in operating activities was $85,051 and $401,710.

For the year ended December 31, 2022 and 2021, net cash used in operating activities was $59,529 and $85,051.

The cash used in operating

activities was mainly for payment of sales and marketing and general and administrative expenses.

Used in Financing Activities

Provided by Financing Activities

the year ended December 31, 2022, net cash provided by financing activities was $0.

For the year ended December 31, 2020,

net cash provided by financing activities was $343,200.

The financing cash flow performance primarily reflects the borrowing repayment

to director and advance borrowing to related party.

Used in Investing Activities

the financial year ended December 31, 2021 and 2020, the net cash used in investing activities was $4,250 and $0.

The investing

cash flow performance primarily reflects the investment in other companies in the ICT industry.

For the year ended December 31, 2021, net cash provided

by financing activities was $300.

The financing cash flow performance primarily reflects the borrowing repayment to director.

Provided by / (Used in) Investing Activities

the financial year ended December 31, 2022, the net cash provided by investing activities was $200.

For the financial year ended December

31, 2021, the net cash used in investing activities was $4,250.

The investing cash flow performance primarily reflects the investment

in other companies in the ICT industry.

do not have any credit facilities or other access to bank credit.

5 unchanged sentences

of SEATech Ventures Corp.

and its wholly owned subsidiaries, SEATech Ventures Corp.

and SEATech Ventures (HK) Limited.

Intercompany accounts

and transactions have been eliminated on consolidation.

The Company has adopted December 31 as its fiscal year end.

and its wholly owned subsidiaries, SEATech Ventures Corp., SEATech Ventures (HK) Limited, SEATech CVC Sdn.

and SEATech Ventures Sdn.

Intercompany accounts and transactions have been eliminated on consolidation.

The Company has adopted

December 31 as its fiscal year end.

of consolidation

41 unchanged sentences

currencies translation

reporting currency of the Company and its subsidiaries in Labuan and Hong Kong, are United States Dollars

(“US$”), while its subsidiary in Malaysia, maintains its books and record in Ringgit Malaysia (“MYR”), being the primary currency of the economic environment in which these entities operate.

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.

denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing

11 unchanged sentences

income within the statement of stockholders’ equity.

currencies translation (cont’d)

of amounts from RM and HK$ into US$1 has been made at the following exchange rates for the respective periods:

As of and for the year ended December 31,

Year-end RM :

of amounts from MYR and HK$ into US$1 has been made at the following exchange rates for the respective periods:

of and for the year ended December 31,

Year-end MYR :

US$1 exchange rate

Year-average RM:

Year-average MYR:

US$1 exchange rate

21 unchanged sentences

any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

In May 2019, the FASB issued ASU

2019-05, which is an update to ASU Update No.

2016-13, Financial Instruments—Credit Losses (Topic 326):

Measurement of Credit Losses

on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets

measured at amortized cost basis, replacing the previous incurred loss methodology.

The amendments in Update 2016-13 added Topic 326,

Financial Instruments—Credit Losses, and made several consequential amendments to the Codification.

The amendments in this Update

address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets

previously measured at amortized cost basis.

For those entities, the targeted transition relief will increase comparability of financial

statement information by providing an option to align measurement methodologies for similar financial assets.

Furthermore, the targeted

transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial

statement users with decision-useful information.

In November 2019, the FASB issued ASU No.

2019-10, which to update the effective date

2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses,

leases, and hedging standard.

The new effective date for these preparers is for fiscal years beginning after December 15, 2022.

is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller

reporting company.

The Company is currently evaluating the impact ASU 2019-05 may have on its consolidated financial statements.

Sheet Arrangements

7 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 7. Management’s Discussion and Analysis