# EDGAR Filing Document

**Accession Number:** 0001750106
**File Stem:** 0001641172-25-017564
**Filing Date:** 2025-7
**Character Count:** 8539
**Document Hash:** df8eea40373a3e9faf11636de794c84d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-017564.hdr.sgml**: 20250702

**ACCESSION NUMBER**: 0001641172-25-017564

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250702

**DATE AS OF CHANGE**: 20250702

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alset Inc.
- **CENTRAL INDEX KEY:** 0001750106
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 831079861
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91881
- **FILM NUMBER:** 251101182

**BUSINESS ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 210
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 3019713955

**MAIL ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 210
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alset EHome International Inc.
- **DATE OF NAME CHANGE:** 20210205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HF Enterprises Inc.
- **DATE OF NAME CHANGE:** 20180814
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Chan Heng Fai Ambrose
- **CENTRAL INDEX KEY:** 0001261725

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 2601 INSLAND PLACE TOWER
- **STREET 2:** 510 KINGS RD N POINT
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 999999999

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHAN FAI
- **DATE OF NAME CHANGE:** 20030828

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 21)**

**Alset Inc.**

*(Name of Issuer)*

**Common Stock, Par Value $0.001 Per Share**

*(Title of Class of Securities)*

**02115D208**

*(CUSIP Number)*

**Heng Fai Ambrose Chan**<br>9 Temasek Boulevard #16-04<br>Suntec Tower Two<br>Singapore U0 038989<br>011 65 6333 9181

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/30/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **02115D208** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Heng Fai Ambrose Chan** | Name of reporting person<br>**Heng Fai Ambrose Chan** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**U0** | Citizenship or place of organization<br>**U0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**7998742.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**7998742.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7998742.00** | Aggregate amount beneficially owned by each reporting person<br>**7998742.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**68.3%** | Percent of class represented by amount in Row (11)<br>**68.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Includes 3,875,506 shares of common stock held by HFE Holdings Limited, of which Mr. Chan has sole voting and investment power with respect to such shares. Percentage is based upon 11,709,219 shares of common stock outstanding as of July 2, 2025.

| **CUSIP No.** | **02115D208** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HFE Holdings Limited** | Name of reporting person<br>**HFE Holdings Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**HONG KONG** | Citizenship or place of organization<br>**HONG KONG** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**3875506.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**3875506.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3875506.00** | Aggregate amount beneficially owned by each reporting person<br>**3875506.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**33.1%** | Percent of class represented by amount in Row (11)<br>**33.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Percentage is based upon 11,709,219 shares of common stock outstanding as of July 2, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, Par Value $0.001 Per Share

**(b) Name of Issuer:**
Alset Inc.

**(c) Address of Issuer's Principal Executive Offices:**
4800 Montgomery Lane, Suite 210, Bethesda, MD, 20814

**Item 4. Purpose of Transaction**

All of the Issuer's securities owned by the Reporting Person have been acquired for investment purposes only. As of the date of this Schedule 13D, the Reporting Person has no present plans or proposals that relate to or would result in any of the actions required to be described in subsections (a) through (j) of Item 4 of Schedule 13D. The Reporting Person may, at any time, review or reconsider its positions with respect to the Issuer and formulate plans or proposals with respect to any of such matters, but have no present intention of doing so.

**Item 5. Interest in Securities of the Issuer**

**(a)**
7,998,742, 68.3%

**(b)**
7,998,742

**(c)**
There were no other transactions effected in the last 60 days by the Reporting Person except for the transactions which are the subject of this Schedule 13D and are described herein.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

None.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Heng Fai Ambrose Chan

**Signature:** Heng Fai Ambrose Chan

**Name/Title:** Heng Fai Ambrose Chan/Individual

**Date:** 07/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HFE Holdings Limited

**Signature:** Heng Fai Ambrose Chan

**Name/Title:** Heng Fai Ambrose Chan/Director, HFE Holdings Limited

**Date:** 07/02/2025