Company: NUTR
Filing Date: 2025-03-25
Form Type: CORRESP
Source: 0001641172-25-000449
Chunk: 243

Company: NUSATRIP Inc
Filing Date: 2025-03-25
Form: CORRESP
Chunk 243
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 of the Reorganization. Immediately following the Reorganization, the Company began to file separate tax returns and report the income tax based on the actual tax return of each legal entity under its respective tax regime.

NOTE 11 — PENSION COSTS

The Company’s subsidiaries are required to make contributions to their employees under a government-mandated defined contribution pension scheme for its eligible full-times employees locally employed. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. During the nine months ended September 30, 2024 and 2023, $71,010 and $1,395 contributions were made, respectively.

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<div align='center'>NUSATRIP INCORPORATED
NOTES TO CARVE-OUT COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2023
(Currency expressed in United States Dollars (“US$”))</div>

NOTE 12 — RELATED PARTY TRANSACTIONS

From time to time, shareholder of the Company advanced funds to the Company for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand.

The Company has no other significant or material related party transactions during the years presented except for the audit fee borne by Society Pass Inc amounted to $0 and $125,000 for the nine months ended September 30, 2024 and for the year ended December 31, 2023 respectively.

NOTE 13 — CONCENTRATIONS OF RISK

The Company is exposed to the following concentrations of risk:

(a) Major customers

For the nine months ended September 30, 2024, the Company had a single customer that constituted 15.25% of its revenue, with accounts receivable of $0 at the period-end.

For the nine months ended September 30, 2023, the Company had a single customer that constituted 23.06% of its revenues, with accounts receivable of $0 at the period-end.

(b) Major vendors

For the nine months ended September 30,
2024 and 2023, none of the vendor accounted for 10% or more of the Company’s cost of revenue.

(c) Credit risk

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