Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 229

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 229
---
 of the Company’s accounts payables, net                                                                                       
  Supplier A                                                   $                           54,188       2.1      $            78,224       3.4  
  Supplier B                                                                               51,156       2.0                  115,869       5.1  
  Supplier C                                                                              108,743       4.2                        -       0.0  
  Panaicia Pty Ltd (note)                                                                       -       0.0                1,563,137      68.7  
  Supplier D                                                                            2,301,224      88.5                  284,872      12.5  
  Total                                                        $                        2,515,311      96.8      $         2,042,102      89.7  

Note: Panaicia Pty Ltd is a related party
of the Company, in which its sole director and sole shareholder is one of the shareholders of the Company, Mr. Wai Yiu Yau.

Foreign Currency Translation

The Company uses United State Dollar
(“ US$”) as its reporting currency. The Company’s operations are principally conducted in Hong Kong where Hong Kong
dollar is the functional currency.

Transactions denominated in other than
the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on the transaction
dates. Monetary assets and liabilities denominated in currencies other than the applicable functional currencies are translated into
the functional currency at the prevailing rates of exchange at the balance date. The resulting exchange differences are reported in the
consolidated statements of operations and comprehensive income.

The exchanges rates used for translation
from Hong Kong dollar to USD was7.8000, a pegged rate determined by the linked exchange rate system in Hong Kong. This pegged rate was
used to translate Company’s balance sheets, income statement items and cash flow items for 2022, 2023 and 2024.

SCHEDULE OF FOREIGN CURRENCY TRANSLATION

                                                      For                                                          
                                           the year ended                                                          
                                                                                                                   
                                                September                                                          
                                                      30,                                                          
                                                     2022                  2023                  2024              
  Year end HKD: US$ exchange rate                              7.8000                7.8000                7.8000  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Year average HKD: US$ exchange rate                          7.