Company: MEGL
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001641172-25-016831
Chunk: 97

Company: Magic Empire Global Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 97
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   |     |         |   |     |       |   |
| Operating                    
 lease obligation             |     |               | 181,684 |     |            | 415,490 |     |            | — |     |         | — |     |       | — |
| Total contractual obligation |     |               | 181,684 |     |            | 415,490 |     |            | — |     |         | — |     |       | — |

As of December 31, 2024, we did not have any capital expenditure commitment.

Off-balance sheet arrangements

The Company has no off-balance sheet arrangements, including arrangements that would affect its liquidity, capital resources, market risk support, and credit risk support or other benefits.

RELATED PARTY TRANSACTION AND BALANCES

Our Group had fund advance to our Directors as follows:

|                      |     |              As 
 of December 31, |        |     |      |   |     |      |   |     |      |   |
|                      |     |            2022 |        |     | 2023 |   |     | 2024 |   |     | 2024 |   |
|                      |     |             HK$ |        |     |  HK$ |   |     |  HK$ |   |     |  US$ |   |
| Wai Ho Chan          |     |                 | 38,066 |     |      | — |     |      | — |     |      | — |
| Sze Hon Johnson Chen |     |                 | 58,634 |     |      | — |     |      | — |     |      | — |

The balances are unsecured and interest-free. All balances with related parties were settled in March 2023.

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Credit risk

Assets that potentially subject the Group to a significant concentration of credit risk primarily consist of cash, accounts receivable and other current assets.

The Group believes that there is no significant credit risk associated with cash, which were held by reputable financial institutions in the jurisdictions where the Company and its subsidiaries are located. The Hong Kong Deposit Protection Board pays compensation up to a limit of HK$500,000 (approximately US$64,369) if the bank with which an individual/a company hold its eligible deposit fails. With effect from 1 October 2024, the protection limit has been increased to HK$800,000