FinanceLooker

Excrept from filing document 2025-07-31

State the aggregate market value of the voting and non voting common equity held by non affiliates computed by reference to the price at which the common equity was last sold or the average bid and asked price of such common equity as of the last business day of the registrant s most recently completed second fiscal quarter
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 guarantee 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
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
TriUnity Business Services Limited is headquartered in Kuala Lumpur Malaysia herein referred as Malaysia stands as a pivotal hub for businesses spanning Malaysia Hong Kong and targeted global regions We primarily provide business related services such as accounting and bookkeeping human resources management payroll administrative support head hunting and recruitment services to companies in Malaysia Our mission is to facilitate seamless operations for our esteemed clientele by providing comprehensive integrated services allowing them to allocate their time and resources more effectively to their core business activities
The company currently offers accounting and bookkeeping services designed to help clients manage their financial records with accuracy and compliance Our current offerings encompass the recording of all business and financial transactions from initial journal entries to the trial balance stage By meticulously tracking these transactions we enable our clients to maintain clear and accurate financial records This process serves as the backbone for generating reliable financial data which in turn supports their decision making and financial reporting requirements
Following the recording process we prepare essential financial documents for our clients including balance sheets profit and loss statements and statements of changes in equity These documents provide clients with a comprehensive view of their financial health and operational outcomes while also satisfying the baseline requirements for financial transparency and accountability In addition to these standard reports we also create customized financial summaries tailored to meet each client s unique needs ensuring that their reporting aligns with internal management goals or any specific regulatory requirements they must meet
To support ongoing financial oversight we offer monthly or quarterly financial reports These regular reports allow clients to track their financial performance over time helping them identify trends monitor cash flow and make informed operational decisions Through these reports we aim to enhance clients understanding of their business s financial standing enabling them to address issues proactively and plan for future growth At this stage our accounting and bookkeeping services are primarily handled by our Chief Executive Officer who leverages extensive industry experience to provide clients with a reliable professional service The CEO s hands on approach ensures personalized service where client needs are addressed with precision and care
However the Company has temporarily halted the provision of such services as it does not yet hold a Practicing Certificate PC from the Malaysian Institute of Accountants MIA which is required for the ongoing practice of accounting services in Malaysia The Company is in the process of employing a qualified individual who holds or is eligible to obtain the relevant MIA PC in order to resume its accounting and bookkeeping operations
The rapid growth of industrialization has significantly increased the demand for trained and qualified workers to manage both personal duties and business administration tasks To meet this rising need businesses often turn to human resource outsourcing HRO Through HRO companies hire staff from specialized outsourcing firms that provide trained professionals
Payroll Management We are a specialized third party solutions provider that handle the complexities of payroll processing for businesses Our services ensure accurate and timely payment of employees compliance with legal and regulatory requirements Core components include payroll calculation time and attendance tracking and benefits administration The advantages of using payroll management services include improved accuracy cost savings regulatory compliance and allowing businesses to focus on core activities
Outsourcing Recruitment and Assessment We provide clients with outsourcing services related to recruitment and assessment This includes sourcing and screening candidates conducting assessments and facilitating the hiring process to ensure the selection of top talent aligned with our clients specific needs and objectives Our expertise in recruitment and assessment allows us to streamline the hiring process saving our clients valuable time and resources while ensuring they acquire the right candidates for their teams
Training and Development Our company offers a of training courses and leadership development solutions designed to empower our clients to harness their existing talent effectively and enhance overall performance With a focus on customization and relevance our training programs cater to diverse organizational needs ensuring that each client receives tailored solutions aligned with their objectives Through our leadership development initiatives we equip individuals and teams with the skills knowledge and strategies needed to excel in their roles and drive organizational success
We formalize engagement with clients through service agreements SA which clearly define the roles responsibilities and expectations for both parties The SA ensures that the outsourced professionals deliver the required services to meet the business s standards and objectives This approach not only provides businesses with access to a pool of skilled workers but also allows them to focus on their core activities without being burdened by the complexities of personnel management and administrative overhead
Document Management Our team handles organizing storing and retrieving important documents whether they re in physical or digital form We make sure all our document management practices comply with regulations and are easy to access when needed This ensures our clients can find what they need quickly and confidently without worrying about regulatory issues
Expenses Management Our team oversees the tracking monitoring and optimization of all expenses incurred by our clients By implementing efficient systems and processes we strive to ensure that expenses are accurately recorded analysed and managed in accordance with budgetary constraints and financial objectives Through comprehensive expense management we empower our clients to make informed decisions identify cost saving opportunities and maintain financial transparency and accountability across their organization
Besides we provided recruitment and talent acquisition services to our clients These services included conducting initial consultations to assess the client s company culture team structure role requirements and ideal candidate profile Based on this assessment we sourced candidates through multiple channels such as professional networks online job portals LinkedIn internal talent databases and direct outreach headhunting We reviewed applicant materials and conducted preliminary screenings via phone or video interviews to evaluate candidates qualifications work experience communication skills and cultural fit Upon request we also administered additional assessments or tests We managed interview coordination by scheduling meetings between clients and shortlisted candidates confirming availability and ensuring both parties were adequately prepared Post interview feedback was gathered and shared to support final hiring decisions Additionally we assisted in offer management and negotiation including advising on compensation packages communicating offer terms and facilitating successful offer acceptance by the selected candidates
Our promotional strategy centers around leveraging our website triunitybs com as the primary hub for showcasing our services Additionally we actively engage in social media marketing campaigns focusing on platforms like Facebook LinkedIn and various e commerce industry forums This multi channel approach aims to enhance our online presence and in our opinion effectively reach our target audience
Additionally we offer free initial consultations for potential clients to thoroughly understand their unique needs and challenges remotely via Zoom WeChat etc or can be in person upon the potential clients request depends on CEO s availability During these consultations we take the time to listen to their specific requirements assess their current systems and processes and identify areas where our services can provide the most value This personalized approach allows us to tailor our solutions to meet the distinct needs of each client ensuring more effective and customized service delivery By offering this no obligation consultation we demonstrate our commitment to providing exceptional service and establishing strong trust based relationships with our clients from the very beginning We believe that this will significantly enhance our ability to attract potential clients
As of July 31 2025 the Company operates with a single employee Ms Jervey Choon our sole officer and director Ms Jervey Choon is not compensated at present for her services working approximately 35 hours a week on the Company Looking ahead our strategic roadmap entails substantial expansion with a targeted growth plan aiming to increase our workforce to five employees by 2026
Cost Savings Our clients stand to gain substantial cost savings by opting for our outsourced services This is primarily achieved by eliminating the need for hefty investments in various aspects associated with in house departments including staff salaries benefits training programs and infrastructure By outsourcing the activities to us our client can access high quality services without the financial burden of maintaining a dedicated in house team Moreover outsourcing mitigates the risks associated with employee turnover and skill gaps as we are responsible for ensuring a consistent level of service quality and expertise This relieves our clients of the need to constantly invest in recruiting training and retaining specialized talent freeing up resources and management bandwidth to focus on core business objectives
Expertise and Knowledge We believed that our company can bring a wealth of specialized expertise and knowledge to the table often surpassing that of in house teams We are professional specialist on develop deep insights and stay updated on industry best practices regulations and technological advancements Unlike in house teams which may have more generalized knowledge due to their diverse responsibilities while we concentrate solely on these few areas of expertise
Furthermore we continuously leverage our expertise to implement innovative solutions and drive continuous improvement We ensure that we stay abreast of the latest knowledge and regulations particularly in the accounting and human resource industries where high familiarity with evolving standards and regulations is crucial By maintaining up to date expertise we provide our clients with reliable and compliant services that meet the stringent requirements of these sensitive sectors
Focus on Core Business We enable our clients to focus their resources and attention on core business activities fostering innovation and driving growth By delegating non core functions such as accounting and bookkeeping human resources to specialized service providers like us businesses can streamline their operations and significantly improve efficiency
For many small and medium sized enterprises SMEs establishing an in house department for these functions is not financially feasible Our services provide these companies with the ability to allocate their resources more efficiently towards their core business activities Instead of expending valuable time money and talent on managing support functions businesses can channel these resources into strategic initiatives that enhance their competitive advantage and promote long term success
Freelance professionals Freelancers offer specialized services in areas such as accounting HR or administrative support They often appeal to clients seeking specific expertise or those with smaller projects While freelancers can provide personalized attention they might lack the comprehensive service integration and scalability that a firm like ours can offer
Technology platforms These platforms provide automated or AI driven solutions for business functions like accounting and HR Examples include QuickBooks for bookkeeping and Gusto for payroll management They offer efficiency and cost effectiveness but often lack the personalized service and human touch that many clients desire
Personalized and tailored services We provide personalized services starting with a free consultation to understand each client s specific needs Unlike technology platforms which often have fixed features that may not fully meet individual client requirements our services are adaptable and can be customized to fit each client s unique situation
TriUnity Business Services Limited operates under jurisdiction of Malaysian laws and regulations which govern and regulate our business activities with certain countries and individuals To the best of our knowledge we are not required to obtain any licenses except for potential business registration licenses in jurisdictions where we plan to operate We are subject to several local and foreign privacy and data protection laws Regulatory bodies worldwide have either adopted or proposed requirements related to the collection distribution use security and storage of personal information or other confidential information of individuals
When the Company provides services to clients the Company or its employees may need to access personal information as outlined in the Malaysia Personal Data Protective Act 2010 referred to as PDPA According to the PDPA a Data User such as the Company or its employees is prohibited from processing personal data related to an individual unless that individual has granted explicit consent for the processing of their personal information Failure to adequately protect data or ensure its secure destruction could expose us to potential regulatory investigations or enforcement measures under relevant data security or consumer protection laws The extent and understanding of these regulations may change leading to potential increases in both the obligations placed on us and the costs associated with our compliance in the future
Besides the Company provides accounting and bookkeeping services in Malaysia and is therefore subject to the regulations of the Malaysian Institute of Accountants MIA the statutory body established under the Accountants Act 1967 to regulate and develop the accountancy profession in Malaysia The MIA prescribes professional ethical and technical standards for accountants and accounting service providers including requirements relating to licensing practice review and continuing professional education Entities and individuals providing accounting services must ensure compliance with these regulations to maintain their eligibility to operate in Malaysia Non compliance with MIA requirements may result in penalties disciplinary action or loss of the ability to provide accounting and bookkeeping services We continuously monitor our operations and professional practices to ensure compliance with applicable MIA standards and other relevant local regulations
As of July 31 2025 the Company has not identified any cybersecurity threats including previous incidents that have materially impacted our business strategy results of operations or financial condition This assertion signifies our diligent efforts in managing and mitigating cybersecurity risks contributing to the stability and continuity of our operations
From time to time we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business Litigation is 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
The Securities 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
For transactions covered by these rules the broker dealer must make a special suitability determination for the purchase of such securities and have received the purchaser s prior written consent to the transaction Additionally for any transaction other than exempt transactions involving a penny stock the rules require the delivery prior to the transaction of a risk disclosure document mandated by the Securities and Exchange Commission relating to the penny stock market The broker dealer also must disclose the commissions payable to both the broker dealer and the registered representative current quotations for the securities and if the broker dealer is the sole market maker the broker dealer must disclose this fact and the broker dealer s presumed control over the market Finally monthly statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks Consequently the penny stock rules may restrict the ability of broker dealers to sell our Common Stock and may affect the ability of investors to sell their Common Stock in the secondary market
In addition to the penny stock rules 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 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 contractual 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
The following discussion and analysis of our results of operations and financial condition for fiscal year ended July 31 2025 should be read in conjunction with our financial statements and the notes to those financial statements that are included elsewhere in this report Some of the information contained in this management s discussion and analysis or set forth elsewhere in this Annual Report including information with respect to our plans and strategy for our business and related financing includes forward looking statements that involve risks uncertainties and assumptions As a result of many factors including those factors set forth in the Risk Factors section in Form S 1 A registration statement filed on February 7 2025 our actual results could differ materially from the results described in or implied by the forward looking statements contained in this Annual Report
TriUnity Business Services Limited is headquartered in Kuala Lumpur Malaysia herein referred as Malaysia stands as a pivotal hub for businesses spanning Malaysia Hong Kong and targeted global regions We primarily provide business related services such as accounting and bookkeeping human resources management payroll administrative support head hunting and recruitment services to companies in Malaysia Our mission is to facilitate seamless operations for our esteemed clientele by providing comprehensive integrated services allowing them to allocate their time and resources more effectively to their core business activities
Our cash and cash equivalents are 27 927 as of July 31 2025 Our cash balance is not sufficient to fund our limited levels of operations for any period of time In order to continue our current business plan and increase our current level of operations for the next twelve month period we require further funding
For the year ended July 31 2025 the Company incurred a net loss of 25 323 and used cash in operating activities of 32 098 and borrowed 29 153 from our director These conditions raise substantial doubt about the Company s ability to continue as a going concern The ability to continue as a going concern is dependent upon the Company s profit generating operations in the future and or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern
The Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder In the event that we require additional funding to finance the growth of the Company s current and expected future operations as well as to achieve our strategic objectives the shareholder has indicated the intent and ability to provide additional financing
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
The Company s cash and cash equivalents has increased by 152 from 27 775 as of July 31 2024 to 27 927 as of July 31 2025 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
For the year ended July 31 2025 the Company has used 32 098 in operating activities which was primarily attributable to net loss from operation increase in prepayment decrease in deferred revenue contra by depreciation expenses increase in customer deposit increase in accrued liability and increase in amount due to director
For the period ended July 31 2024 net cash provided by operating activities was 27 971 The cash provided by operating activities was attributable by net loss increase in prepayment contra by depreciation expenses increase in accrued liability increase in deferred revenue and increase in amount due to director
We have no significant off balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition changes in our financial condition revenues or expenses results of operations liquidity capital expenditures or capital resources that are material to our stockholders as of July 31 2025
We conducted an evaluation under the supervision and with the participation of our management including our Chief Executive Officer of the effectiveness of the design and operation of our disclosure controls and procedures The term disclosure controls and procedures as defined in Rules 13a 15 e and 15d 15 e under the Securities and Exchange Act of 1934 as amended Exchange Act means controls and other procedures of a company that are designed to ensure that information required to be disclosed by the company in the reports it files or submits under the Exchange Act is recorded processed summarized and reported within the time periods specified in the Securities and Exchange Commission s rules and forms Disclosure controls and procedures also include without limitation controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company s management including its principal executive and principal financial officers or persons performing similar functions as appropriate to allow timely decisions regarding required disclosure Based on this evaluation our Chief Executive Officer concluded as of July 31 2025 that our disclosure controls and procedures were not effective The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were 1 lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures 2 inadequate segregation of duties and effective risk assessment 3 insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines and 4 lack of internal audit function due to the fact that the Company lacks qualified resources to perform the internal audit functions properly and that the scope and effectiveness of the internal audit function are yet to be developed The aforementioned material weaknesses were identified by our Chief Executive Officer in connection with the review of our financial statements as of July 31 2025
Management believes that the material weaknesses set forth in items 2 and 3 above did not have an effect on our financial results However management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures which could result in a material misstatement in our financial statements in future periods
Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a 15 f and 15d 15 f under the Exchange Act Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles The internal controls for the Company are provided by executive management s review and approval of all transactions Our internal control over financial reporting also includes those policies and procedures that
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
Because of its inherent limitations internal control over financial reporting may not prevent or detect misstatements Also 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
Management assessed the effectiveness of the Company s internal control over financial reporting as of July 31 2025 In making this assessment management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control Integrated Framework Management s assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of these controls
Based on this assessment management has concluded that as of July 31 2025 our internal control over financial reporting was not effective to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U S generally accepted accounting principles In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls we have initiated or plan to initiate the following series of measures
We will increase our personnel resources and technical accounting expertise within the accounting function We will create a position to segregate duties consistent with control objectives And we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us
This annual report does not include an attestation report of the Company s registered independent public accounting firm regarding internal control over financial reporting Management s report was not subject to attestation by the Company s registered independent public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management s report in this Annual Report on Form 10 K
Set forth below are the present directors and executive officers of the Company Note that there are no other persons who have been nominated or chosen to become directors nor are there any other persons who have been chosen to become executive officers There are no arrangements or understandings between any of the directors officers and other persons pursuant to which such person was selected as a director or an officer Directors are elected to serve until the next annual meeting of stockholders and until their successors have been elected and have qualified Officers are appointed to serve until the meeting of the board of directors following the next annual meeting of stockholders and until their successors have been elected and qualified
In 2013 Ms Jervey graduated with a Bachelor of Business Administration from UCSI University She commenced her professionally career in January 2014 as an Assistant to the CEO of DSwiss Sdn Bhd a company based in Malaysia In this role she provided various administrative support to the CEO including conducting market research and development managing confidential correspondence and contributing to recruitment efforts She also supported the CEO in fundraising ventures and business expansion activities such as investments acquisitions and corporate alliances
From January 2021 to present Ms Jervey held the position of General Manager at DSwiss Sdn Bhd In this role she oversaw the day to day operations of the company including setting and driving sales and profitability goals mentoring employees developing business strategies and managing budget planning and execution Her duties also included upgrading systems and enhancing accounting practices
In April 2024 Ms Jervey founded TriUnity Business Services Limited and now serves as its sole officer and director From her extensive experience in previous roles she learned the importance of strategic planning operational efficiency and client relationship management Recognizing the growing demand for specialized services in accounting bookkeeping human resources management and administrative support she established TriUnity Business Services Limited in an effort to provide comprehensive and tailored solutions to help other businesses thrive
The Company promotes accountability for adherence to honest and ethical conduct endeavors to provide full fair accurate timely and understandable disclosure in reports and documents that the Company files with the Securities and Exchange Commission and in other public communications made by the Company and strives to be compliant with applicable governmental laws rules and regulations The Company has not formally adopted a written code of business conduct and ethics that governs the Company s employees officers and Directors as the Company is not required to do so
In lieu of an Audit Committee the Company s Board of Directors is responsible for reviewing and making recommendations concerning the selection of outside auditors reviewing the scope results and effectiveness of the annual audit of the Company s financial statements and other services provided by the Company s independent public accountants The Board of Directors and the Chief Executive Officer of the Company review the Company s internal accounting controls practices and policies
Our Company currently does not have nominating compensation or audit committees or committees performing similar functions nor does our Company have a written nominating compensation or audit committee charter Our Director s believe that it is not necessary to have such committees at this time because the Directors can adequately perform the functions of such committees
Our Board of Directors has determined that we do not have a board member that qualifies as an audit committee financial expert as defined in Item 407 D 5 of Regulation S K nor do we have a Board member that qualifies as independent as the term is used in Item 7 d 3 iv B of Schedule 14A under the Securities Exchange Act of 1934 as amended and as defined by Rule 4200 a 14 of the FINRA Rules
We believe that our Director s are capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting The Director s of our Company does not believe that it is necessary to have an audit committee because management believes that the Board of Directors can adequately perform the functions of an audit committee In addition we believe that retaining an independent Director who would qualify as an audit committee financial expert would be overly costly and burdensome and is not warranted in our circumstances given the stage of our development and the fact that we have not generated any positive cash flows from operations to date
Our sole director does not believe that it is necessary to have an audit committee because management believes that the Board of Directors can adequately perform the functions of an audit committee In addition we believe that retaining an independent director who would qualify as an audit committee financial expert would be overly costly and burdensome and is not warranted in our circumstances given the stage of our development and our current financial condition
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
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
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
We have not adopted a formal Code of Ethics The Board of Directors evaluated the business of the Company and the number of employees and determined that since the business is operated by a small number of persons general rules of fiduciary duty and federal and state criminal business conduct and securities laws are adequate ethical guidelines In the event our operations employees and or Directors expand in the future we may take actions to adopt a formal Code of Ethics
Our 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 stage of our development a specific 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
Section 16 a of the Securities Exchange Act requires our executive officers and directors and persons who own more than 10 of our common stock to file reports regarding ownership of and transactions in our securities with the Securities and Exchange Commission and to provide us with copies of those filings Based solely on our review of the copies of such forms furnished to us and written representations by our officers and directors regarding their compliance with applicable reporting requirements under Section 16 a of the Exchange Act we believe that all Section 16 a filing requirements for our executive officers directors and 10 stockholders were met during the year ended July 31 2025
Our Board of Directors does not currently receive any consideration for their services as members of the Board of Directors The Board of Directors reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services to the Company which awards if granted shall be in the sole determination of the Board of Directors
Our Board of Directors determines the compensation 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
The Board of Directors may grant incentive bonuses 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
In order to attract retain and motivate executive talent necessary to support the Company s long term business strategy we may award our executive and any future executives with long term stock based compensation in the future at the sole discretion of our Board of Directors which we do not currently have any immediate plans to award
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
In regards to the above transaction we claim an exemption from registration afforded by Regulation S of the Securities Act of 1933 as amended Regulation S for the above sale of stock since the sale of stock was made to a non U S person as defined under Rule 902 section k 2 i of Regulation S pursuant to offshore transactions and no directed selling efforts were made in the United States by the issuer a distributor any of their respective affiliates or any person acting on behalf of any of the foregoing
Given our small 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 stockholders 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
The following table sets forth the aggregate fees billed to the Company by its independent registered public accounting firms for the fiscal year ended July 31 2025 and period ended July 31 2024 We have engaged JP Centurion Partners PLT as our independent registered public accounting firm since July 1 2024
We have audited the accompanying balance sheets of TriUnity Business Services Limited the Company as of July 31 2025 and 2024 and the related statement of operations and comprehensive loss statement of changes in stockholders equity and statement of cash flows for each of the years in the two year period ended July 31 2025 and 2024 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 July 31 2025 and 2024 and the results of its operations and its cash flows for each of the years in the two year period ended July 31 2025 and 2024 in conformity with accounting principles generally accepted in the United States of America
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern As discussed in Note 3 to the financial statements for the year ended July 31 2025 the Company incurred loss from operations of 25 323 accumulated deficit of 46 705 and net current liabilities of 14 526 These conditions raise substantial doubt about the Company s ability to continue as a going concern Management s plans in regard to these matters are also described in Note 3 The financial statements do not include any adjustments that might result from the outcome of this uncertainty
These financial statements are the responsibility of the Company s management Our responsibility is to express an 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 audits 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 audits 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
Our audits 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 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 audits provide a reasonable basis for our opinion
The critical audit matters 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 judgements We determined that there are no critical audit matters
TriUnity Business Services Limited is headquartered in Kuala Lumpur Malaysia herein referred as Malaysia stands as a pivotal hub for businesses spanning Malaysia Hong Kong and targeted global regions We primarily provide business related services such as accounting and bookkeeping human resources management payroll administrative support head hunting and recruitment services to companies in Malaysia Our mission is to facilitate seamless operations for our esteemed clientele by providing comprehensive integrated services allowing them to allocate their time and resources more effectively to their core business activities
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern For the year ended July 31 2025 the Company incurred loss from operations of 25 323 resulting in accumulated deficit of 46 705 working capital deficit of 14 526 and net cash used in operating activities of 32 098
The Company s cash position may not be significant enough to support the Company s daily operations While the Company believes in the viability of its strategy and in its ability to raise additional funds there can be no assurances to that effect The Company s ability to continue as a going concern is dependent upon its ability to improve profitability and the ability to acquire funding through public offering If funding from public offering is insufficient then the Company shall rely on the financial support from its controlling shareholder
These and other factors raise substantial doubt about the Company s ability to continue as a going concern within one year after the date that financial statements are issued These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern
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
The Company generates revenue by providing a range of business related services including accounting and bookkeeping human resources management head hunting services payroll processing and administrative support services In accordance with Accounting Standards Update ASU 2014 09 Revenue from Contracts with Customers Topic 606 revenue is recognized when the customer obtains control of the promised services and in an amount that reflects the consideration the Company expects to receive in exchange for those services In addition the standard requires disclosure of the nature amount timing and uncertainty of revenue and cash flows arising from contracts with customers The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods and services The Company applies the following five step model in order to determine this amount
The Company has implemented Accounting Standards Update ASU 2014 09 Revenue from Contracts with Customers Topic 606 which establishes the principles for recognizing revenue when control of goods or services is transferred to the customer In line with this guidance revenue is recognized when the following conditions are satisfied
Identify the Performance Obligations Each contract includes specific performance obligations which are the distinct services that the Company is required to deliver These obligations may include services such as the preparation of management accounts payroll processing administrative support head hunting and recruitment services depending on the customer s needs
Determination of Transaction Price The transaction price is the amount the Company expects to receive in exchange for fulfilling its performance obligations under the contract This price is typically fixed and is stipulated in the service agreement with the customer In accordance with Topic 606 the Company allocates the transaction price to each performance obligation based on its standalone selling price
Allocate the Transaction Price to the Performance Obligations If the contract includes multiple services or performance obligations the Company uses a consistent and rational method to allocate the transaction price among the different obligations This allocation is based on the relative standalone selling prices of the individual services provided e g management accounts bookkeeping payroll head hunting and recruitment services
Recognize Revenue as Performance Obligations are Satisfied Revenue is recognized when the Company fulfills its performance obligations by transferring control of the promised services to the customer This typically occurs when the customer acknowledges satisfaction with the final deliverables such as management accounts bookkeeping reports payroll documents or recruited candidates fulfill the one month completion of working duration and signs a Service Completion Confirmation Letter
The Company reports earnings per share in accordance with ASC Topic 260 Earnings Per Share which requires presentation of basic and diluted earnings per share in conjunction with the disclosure of the methodology used in computing such earnings per share Basic earnings per share excludes dilution and is computed by dividing income available to common stockholders by the weighted average common shares outstanding during the period Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock Further if the number of common shares outstanding increases as a result of a stock dividend or stock split or decreases as a result of a reverse stock split the computations of a basic and diluted earnings per share shall be adjusted retroactively for all periods presented to reflect that change in capital structure
The Company s basic earnings per share is computed by dividing the net income available to holders by the weighted average number of the Company s ordinary shares outstanding Diluted earnings per share reflects the amount of net income available to each ordinary share outstanding during the period plus the number of additional shares that would have been outstanding if potentially dilutive securities had been issued
The Company accounts for income taxes using the asset and liability method prescribed by ASC Topic 740 Income Taxes Under this method deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the years in which the differences are expected to reverse The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence it is more likely than not that some portion or all of the deferred tax assets will not be realized The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date The Company also adopted ASU 2023 09 Income Taxes Topic 740 Improvements to Income Tax Disclosures which requires disaggregated information about the reporting entity s effective tax rate reconciliation as well as information on income taxes paid
ASC 740 prescribes a comprehensive model for how companies should recognize measure present and disclosed in their financial statements uncertain tax positions taken or expected to be taken on a tax return Under ASC 740 tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50 likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts
The Company adopted ASU 2016 13 Measurement of Credit Losses on Financial Instruments Topic 326 which replaces the incurred loss methodology with an expected credit loss methodology known as the Current Expected Credit Loss CECL model This new standard requires entities to estimate credit losses over the life of a financial asset based on historical experience current conditions and reasonable forecasts
The adoption of the CECL model applies to the Company s portfolio of trade receivables and other financial assets and resulted in changes to the methodology for determining the allowance for credit losses Under the CECL model the Company recognizes an allowance for credit losses at the inception of a financial asset and adjusts it over the life of the asset based on updated expectations of credit losses
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
Accounting Standards Codification ASC Topic 820 Fair Value Measurements and Disclosures ASC Topic 820 which defines fair value establishes a framework for measuring fair value and expands disclosures about fair value measurements The statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability that is the principal or most advantageous market for the asset or liability It also emphasizes that fair value is a market based measurement not an entity specific measurement and that market participant assumptions include assumptions about risk and effect of a restriction on the sale or use of an asset
This ASC establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities Level 1 measurements and the lowest priority to unobservable inputs Level 3 measurements The three levels of the fair value hierarchy are described below
The Company follows the guidance of ASC 280 Segment Reporting which 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 For the year ended April 30 2025 the Company has one reportable segment based on business unit business administration services and one reportable segment based on region The Company also adopted ASU 2023 07 Segment Reporting Topic 280 Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments primarily through enhanced disclosures about significant segment expenses
In November 2024 the Financial Accounting Standards Board FASB issued Accounting Standards Update ASU 2024 03 Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures Subtopic 220 40 Disaggregation of Income Statement Expenses The guidance in ASU 2024 03 requires public business entities to disclose in the notes to the financial statements among other things specific information about certain costs and expenses including purchases of inventory employee compensation and depreciation amortization and depletion expenses for each caption on the income statement where such expenses are included ASU 2024 03 is effective for annual reporting periods beginning after December 15 2026 and interim reporting periods beginning after December 15 2027 Early adoption is permitted and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements The Company is currently evaluating the provisions of this guidance and assessing the potential impact on the Company s financial statement disclosures
In March 2025 the FASB issued ASU 2025 02 Liabilities Topic 405 Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No 122 which removes certain SEC guidance related to obligations to safeguard crypto assets The Company does not engage in activities involving crypto assets therefore the adoption of this ASU is not expected to have a material impact on its financial statements
In May 2025 the FASB issued ASU 2025 04 Compensation Stock Compensation Topic 718 and Revenue from Contracts with Customers Topic 606 Clarifications to Share Based Consideration Payable to a Customer which amends ASC 718 and ASC 606 to i expand the definition of a performance condition to include vesting tied to a customer s own purchases or the purchases of the customer s customers ii require entities to estimate expected forfeitures and iii clarify that the variable consideration guidance in ASC 606 does not apply to share based consideration payable to a customer The amendments are effective for annual and interim periods beginning after December 15 2026 with early adoption permitted We are currently evaluating the impact of this guidance on our consolidated financial statements
In July 2025 the FASB issued ASU 2025 05 Measurement of Credit Losses for Accounts Receivable and Contract Assets which provides a practical expedient for measuring expected credit losses on current trade receivables and contract assets by assuming that current conditions remain unchanged over the life of the asset and for non public business entities an accounting policy election to consider subsequent cash collections The amendments are effective for annual and interim periods beginning after December 15 2025 with early adoption permitted We are currently evaluating the impact of this guidance on our consolidated financial statements
The Company is registered in the State of Nevada and is subject to United States of America tax law As of July 31 2025 the operations in the United States of America incurred 46 705 of cumulative net operating losses NOL s which can be carried forward to offset future taxable income The NOL carryforwards begin to expire in 2045 if unutilized The Company has provided for a full valuation allowance of approximately 9 808 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future
For the year ended July 31 2025 and the period ended July 31 2024 there were three and one customers respectively who accounted for more than 10 of the Company s revenues The customers who accounted for more than 10 of the Company s revenues and its outstanding receivable balance at period end is presented below
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 The Company has single reportable segment based on business unit business administration services business and single reportable segment based on country Malaysia
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
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 events or transactions that occurred after July 31 2025 up through the date the Company issued the financial statements During this period there was no subsequent event that required recognition or disclosure

Company Name	TriUnity Business Services Ltd Vist SEC web-site
Category	SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT