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Document and Entity Information - shares
6 Months Ended
Jun. 30, 2017
May 11, 2018
Document And Entity Information    
Entity Registrant Name Vitaxel Group Ltd  
Entity Central Index Key 0001623590  
Document Type 10-Q/A  
Trading Symbol VXEL  
Document Period End Date Jun. 30, 2017  
Amendment Flag true  
Amendment Description This Amendment No. 1 to the Quarterly Report on Form 10-Q (this “Amendment”) is being filed to amend and restate in its entirely Part I of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 as originally filed with SEC on May 22, 2017 (the “Original Form 10-Q”).  
Current Fiscal Year End Date --12-31  
Entity a Well-known Seasoned Issuer No  
Entity a Voluntary Filer No  
Entity's Reporting Status Current Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   54,087,903
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2017  
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 24,895 $ 105,432
Accounts receivable 1,944
Prepayment 21,385 5,070
Amount due from related companies 33,032 27,082
Amounts due from an associated company 139,392
Due from director 5,427
Inventories 32,699 53,913
Other receivables and other assets 51,509 21,978
Total Current Assets 302,912 220,846
NON-CURRENT ASSETS    
Investment in associated companies
Property, plant and equipment, net 198,070 194,669
Total Non-Current Assets 198,070 194,669
TOTAL ASSETS 500,982 415,515
CURRENT LIABILITIES    
Amounts due to related company 1,137,943 632,239
Amounts due to an associated company 279,219
Commission payables 156,894 115,915
Accounts payable 8,251
Accruals and other payables 668,635 446,487
Total Current Liabilities 1,963,472 1,482,111
TOTAL LIABILITIES 1,963,472 1,482,111
STOCKHOLDERS' EQUITY    
Common stock par value $0.0001: 70,000,000 shares authorized; 54,087,903 outstanding (2016: par value $0.000001: 7,000,000 shares authorized; 5,098,725,000 outstanding) 5,409 5,099
Preferred stock par value $0.0001: 1,000,000 shares; - shares issued and outstanding, respectively
Additional paid-in capital 4,749,798 1,340,504
Accumulated deficit (6,059,822) (2,639,138)
Accumulated other comprehensive income/(losses) (157,875) 226,939
Total Stockholders' Equity (1,462,490) (1,066,596)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 500,982 $ 415,515
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
Jun. 30, 2017
Dec. 31, 2016
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.000001
Common stock, authorized 70,000,000 7,000,000
Common stock, issued 54,087,903 5,098,725
Common stock, outstanding 54,087,903 5,098,725
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, authorized 1,000,000 1,000,000
Preferred stock, issued 0 0
Preferred stock, outstanding 0 0
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
REVENUE $ 74,556 $ 435,030 $ 558,029 $ 1,294,912
COST OF REVENUE (38,773) (356,221) (177,757) (911,309)
GROSS PROFIT 35,783 78,809 380,272 383,603
OPERATING EXPENSES        
Selling expense (155) (648) (258) (1,515)
General and administrative expenses (227,549) (572,549) (4,213,494) (930,303)
Total Operating Expenses (227,704) (573,197) (4,213,752) (931,818)
(LOSS)/INCOME FROM OPERATIONS (191,921) (494,388) (3,833,480) (548,215)
OTHER INCOME/(EXPENSE), NET        
Other Income 33,188 14,879 43,630 71,629
Other Expense (108) (9,443) (194) (9,756)
Total Other Income / (Expense), net 33,080 5,436 43,436 61,873
NET INCOME SURPLUS/(LOSS) BEFORE TAXES (158,841) (488,952) (3,790,044) (486,342)
Income tax expense
Net loss (158,841) (488,952) (3,790,044) (486,342)
OTHER COMPREHENSIVE INCOME SURPLUS/(LOSS        
Foreign currency translation adjustment 95,974 31,577 (226,939) (74,248)
TOTAL COMPREHENSIVE INCOME/(LOSS) $ (62,867) $ (457,375) $ (4,016,983) $ (560,590)
Weighted average number of shares outstanding during the period - basic and diluted 54,087,903 4,936,470,492 54,087,903 4,936,470,492
Net loss per share - Basic and diluted $ (0.00) $ (0.00) $ (0.00) $ (0.00)
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,790,044) $ (486,342)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation - property, plant and equipment 10,899 9,784
Issuance of employee equity incentive plan 3,409,604
Changes in operating assets and liabilities    
Accounts receivable 1,944
Prepayment (16,315) 12,308
Other receivables and other assets (29,531) 21,449
Deferred tax asset (8,124)
Inventories 21,214 (23,190)
Trade creditor (8,251) 2,109
Commission payables 40,979 (185,686)
Other payables and accrued expenses 222,148 296,773
Deferred tax liability 8,124
Tax payable (8,721)
Net cash (used in) provided by operating activities (137,353) (361,516)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (15,617) (105,543)
Net cash used in investing activities (15,617) (105,543)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from directors 5,427 24,845
(Decrease) in amount due to an associated company (418,611)
Proceeds from related parties 499,754 431,974
Net cash provided by financing activities 86,570 456,819
EFFECT OF EXCHANGE RATES ON CASH (14,137) (82,728)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (80,537) (92,968)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 105,432 303,794
CASH AND CASH EQUIVALENTS AT END OF YEAR 24,895 210,825
SUPPLEMENTAL OF CASH FLOW INFORMATION    
Cash paid for interest expenses
Cash paid for income tax
ORGANIZATION AND BUSINESS
6 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND BUSINESS
1. ORGANIZATION AND BUSINESS

 

Vitaxel Group Limited (formerly Albero, Corp., the “Company”), incorporated in Nevada, is engaged in direct selling industry and online shopping platform primarily through its operating entities in Malaysia.

 

Vitaxel SDN BHD (“Vitaxel”), was incorporated in Malaysia on August 10, 2012. The Company is primarily engaged in the direct selling industry utilizing a multi-level marketing model with an emphasis on travel, entertainment and lifestyle products and services.

 

Vitaxel Online Mall SBN BHD (“Vionmall”), was incorporated in Malaysia on September 22, 2015. The Company is primarily in developing online shopping platforms geared to Vitaxel and its members and the third party suppliers of products and services.

 

Vitaxel Singapore PTE. Ltd. (“Vitaxel Singapore”) was incorporated in Singapore on February 16, 2016.

 

REVERSE ACQUISITION

 

On January 18, 2016, the Company completed and closed a share exchange (the “Share Exchange”) under a Share Exchange Agreement (the “Share Exchange Agreement”) of the same date among us, Vitaxel SDN BHD, a Malaysian corporation (“Vitaxel”), the shareholders of Vitaxel, Vitaxel Online Mall SBN BHD, a Malaysian corporation (“Vionmall”) and the shareholders of Vionmall pursuant to which Vitaxel and Vionmall each became wholly owned subsidiaries of ours. In the Share Exchange, all of the outstanding shares of Vitaxel and Vionmall were converted into shares of our Common Stock, as described in more detail below.

 

On January 18, 2016, in connection with the Share Exchange and pursuant to the Split-Off Agreement, we transferred our pre-Share Exchange assets and liabilities to our pre-Share Exchange majority stockholder, in exchange for the surrender by him and cancellation of 3,000,000 shares of our Common Stock.

 

As a result of the Share Exchange and Split-Off, we discontinued our pre-Share Exchange business and acquired the businesses of Vitaxel and Vionmall, and will continue the existing business operations of Vitaxel and Vionmall as a publicly-traded company under the name Vitaxel Group Limited.

 

In accordance with “reverse acquisition” accounting treatment, our historical financial statements as of period ends, and for periods ended, prior to the acquisition will be replaced with the historical financial statements of Vitaxel and Vionmall prior to the Share Exchange in all future filings with the U.S. Securities and Exchange Commission, (the “SEC”).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of presentation

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information article 8 of Regulation S-X.

 

This basis of accounting involves the application of accrual accounting and consequently, revenues and gains are recognized when earned, and expenses and losses are recognized when incurred. The Company’s financial statements are expressed in U.S. dollars.

 

Fiscal year end is December 31.

 

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

 

Foreign currency translation and transactions

The functional currency of the Company is the Malaysian Ringgit (“MYR”) and reporting currency of the Company is United States Dollar “USD”). The financial statements of the Company are translated into USD using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the year for income and expense items. Translation gains and losses are recorded in accumulated other comprehensive income or loss as a component of shareholders’ equity.

 

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and highly liquid investments, which are unrestricted from withdrawal or use, and which have original maturities of three months or less when purchased.

 

Accounts receivable

Accounts receivable are recognized and carried at original invoiced amount less an allowance for any potential uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred. The Company generally does not require collateral from its customers. For the period ended June 30, 2017 and for the year ended December 31, 2016, the Company did not write off any accounts receivable as bad debts.

 

Fair value of financial instruments

FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). In accordance with ASC 820, the following summarizes the fair value hierarchy:

 

Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access.

 

Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly.

 

Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements.

 

ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. As of June 30, 2017 and December 31, 2016, none of the Company’s assets and liabilities was required to be reported at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including cash, accounts receivables, payables and accrued liabilities, approximate their fair values due to the short term nature of these financial instruments. There were no changes in methods or assumptions during the periods presented.

 

Inventories

Inventories are stated at lower of cost or market, with cost determined on a weighted-average method, and not to exceed net realizable value. The Company writes down its inventory balances for obsolete amounts estimated on an individual basis for the finished goods and the raw material items with large amounts, and by a category basis for low value raw material items.

 

Long-term investment

 

The Company’s interests in associated companies are accounted for under equity method under U.S. GAAP. Under the equity method, if the Company’s share of losses of an associated company equals or exceeds the amount of investment plus advances made by the Company, the Company ordinarily discontinues including its share of losses and the investment is reported at nil value. If the associated company subsequently reports net income, the Company will resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended.

 

Property, plant and equipment, net

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives:

 

Office equipment     10 years  
Furniture and fixtures     10 years  
Leasehold improvement     10 years  

 

Revenue recognition

Product sales − The Company generally recognizes revenue upon delivery and when both the title and risk and rewards pass to the independent members or purchasers of the products. Product sales are recognized net of product returns, discounts and taxes. A reserve for product returns is accrued based on historical experience. There was no deferred revenue accrued as of June 30, 2017 and December 31, 2016.

 

Membership fee − The Company recognizes the membership fee revenue over the term of the membership, which is 12 months. The revenue will not be recognized until the 14 days cooling-off period is expired. For the period ended June 30, 2017 and for the year ended December 31, 2016, all membership fees were waived by the Company for promotion purpose.

 

Loyalty program

The Company operates loyalty program which allows customer to accumulate redemption points when they purchase products from the Company. The redemption points can be used to purchase a selection of products at discounted price or redeem products.

 

The Company allocates consideration received from the sale of goods to the goods sold and the redemption points issued that are expected to be redeemed.

 

The consideration allocated to the redemption points issued is measured at fair value of the redemption points. It is recognized as a liability (deferred revenue) in the statement of financial position and recognized as revenue when the points are redeemed, have expired or are no longer expected to be redeemed. The amount of revenue recognized is based on the number of points that have been redeemed, relative to the number expected to redeem.

 

As of June 30, 2017 and December 31, 2016, there was no such deferred revenue recorded.

 

Commission expense

 

Commission expense incurred by the Company is recognized as cost of revenue and as a liability (commission payable in the consolidated balance sheet. Commission expense is not recoverable once recognized and is expensed as incurred.

 

Income taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the combined financial statements. Net operating loss carry forwards and credits are applied using enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics.

 

The impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes are classified as a component of the provisions for income taxes. The Company did not recognize any income tax due to uncertain tax positions or incur any interest and penalties related to potential underpaid income tax expense as of June 30, 2017 and December 31, 2016.

 

Forward Stock split

On January 27, 2016, our Board of Directors declared a 1333-for-1 forward stock split of our outstanding common stock, par value $0.000001 per share in the form of a dividend (the “Stock Split”) with a record date of February 8, 2016 (the “Record Date”). On February 22, 2016, Financial Industry Regulatory Authority, Inc. (“FINRA”) notified us of its announcement of the payment date of the Stock Split as February 23, 2016 (the “Payment Date”). On the Payment Date, as a result of the Stock split, each holder of our common stock as of the Record Date received 1332 additional shares of our common stock for each one share owned, rounded up to the nearest whole share. All common stock share amounts referenced in this Quarterly Report give retroactive effect to the Stock Split.

 

Reverse Stock split

On May 25, 2017, the Board of Directors of Vitaxel Group Limited (“Vitaxel”) authorized and approved an amendment (the “Amendment”) to Vitaxel’s Amended and Restated Articles of Incorporation, which authorized a one hundred-to-one reverse stock split (the “Reverse Split”) of Vitaxel’s outstanding common stock, par value $0.000001 per share, with a record date of June 12, 2017 (the “Record Date”).

 

As of the effective date of the Reverse Split, every 100 outstanding shares of the Company’s common stock automatically became one share of common stock. The Company’s authorized shares of common stock were reduced in proportion to the reverse split ratio, from 7,000,000,000 shares of authorized common stock prior to the effective date to 70,000,000 shares of authorized common stock on the effective date, and from 100,000,000 shares of authorized preferred stock prior to the effective date to 1,000,000 shares of authorized preferred stock on the effective date. Additionally, as part of the Reverse Split, the par value of both the Company’s common stock and its preferred stock was increased from $0.000001 per share to $0.0001 per share. Immediately prior to the Reverse Split the Company had 5,408,754,000 common shares issued and outstanding and had approximately 54,087,540 common shares issued and outstanding immediately after the Reverse Split.

 

We expect that the Reverse Stock Split will (i) increase the marketability and liquidity of our common stock; (ii) address-liquidity of our common stock; (iii) address the reluctance of brokerage firms and institutional investors to recommend lower priced stocks to their clients or to hold in their own portfolios; and (iv) enable us to maintain the quotation of our common stock on the OTC Markets, Inc. QB Tier.

 

Separately, on May 30, 2017, the Board of Directors of Vitaxel authorized and approved a related increase in the par value of Vitaxel common stock from $0.000001 to $0.0001.

 

On June 13, 2017, Vitaxel received approval from the Financial Industry Regulatory Authority (“FINRA”) to effectuate the Reverse Split at the open of business on June 15, 2017.

 

Comprehensive loss

Comprehensive loss includes net loss and cumulative foreign currency translation adjustments and is reported in the Combined Statement of Comprehensive Loss.

 

Loss per share

The loss per share is computed using the weighted average number of shares outstanding during the fiscal years. For the period ended June 30, 2017 and for the year ended December 31, 2016, there was no dilutive effect due to net loss.

 

Related party transactions

A related party is generally defined as:

 

(i) any person that holds the Company’s securities including such person’s immediate families,

 

(ii) the Company’s management,

 

(iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or

 

(iv) anyone who can significantly influence the financial and operating decisions of the Company.

 

A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

 

Recently issued accounting pronouncements

 

Revenue Recognition: In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.

 

Financial instrument: In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). The standard addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. ASU 2016-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. Accordingly, the standard is effective for us on September 1, 2018. We are currently evaluating the impact that the standard will have on our consolidated financial statements.

 

Leases: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-2”), which provides guidance on lease amendments to the FASB Accounting Standard Codification. This ASU will be effective for us beginning in May 1, 2019. We are currently in the process of evaluating the impact of the adoption of ASU 2016-2 on our consolidated financial statements.

 

The Company believes that there were no other accounting standards recently issued that had or are expected to have a material impact on our financial position or results of operations.

 

GOING CONCERN
6 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN
3. GOING CONCERN

 

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred losses since its inception resulting in an accumulated deficit of $6,059,822 as of June 30, 2017. The ability to continue as a going concern is dependent upon the Company generating profitable 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 combined 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 operations primarily through cash flow from revenue and capital contributions from principal shareholders. 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, our principal shareholders have indicated the intent and ability to provide additional equity financing.

 

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on our ability to meet obligations as they become due and to obtain additional equity or alternative financing required to fund operations until sufficient sources of recurring revenues can be generated. There can be no assurance that the Company will be successful in its plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

OTHER RECEIVABLES AND OTHER ASSETS
6 Months Ended
Jun. 30, 2017
Other Receivables And Other Assets  
OTHER RECEIVABLES AND OTHER ASSETS
4. OTHER RECEIVABLES AND OTHER ASSETS

 

Other receivables and other assets consist of the following:

 

    As of
June 30,
2017
    As of
December 31,
2016
 
             
Deposits   $ 45,028     $ 19,497  
Other receivables     6,481       2,481  
      51,509       21,978  

 

  (1) Deposits represented payments for rental, utilities, and construction funds to government department.

 

  (2) Others mainly consists other miscellaneous payments.
LONG-TERM INVESTMENT
6 Months Ended
Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
LONG-TERM INVESTMENT
5. LONG-TERM INVESTMENT

 

On October 5, 2016, the Company invested 958,000 Thai Baht or $27,539 to Vitaxel Corporation Thailand Co., Ltd., a company registered in Thailand, and holds 47.99% shares of it. The long-term investment is accounted using the equity method.

 

Long-term investment consists of the following:

 

    As of
June 30,
2017
    As of
December 31,
2016
 
Long-term investment -cost   $ 27,539     $ 27,539  
Long-term investment -share of loss in investment in an associated company     (25,716 )     (25,716 )
Foreign currency translation adjustment     (1,823 )     (1,823 )
    $     $  

 

PROPERTY, PLANT AND EQUIPMENT
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment, Net [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET
6. PROPERTY,  PLANT AND EQUIPMENT,  NET

 

Property, plant and equipment, net consist of the following:

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
             
Office equipment   $ 26,275     $ 30,476  
Computer equipment     72,537       61,516  
Furniture and fittings     7,514       7,131  
Electrical & fitting     353       337  
Motor vehicle     15,995       15,315  
Software and website     10,906       7,544  
Renovations     102,523       98,167  
      236,103       220,486  
                 
Less: Accumulated depreciation     (38,033 )     (25,817 )
Balance at end of period/year   $ 198,070     $ 194,669  

 

Depreciation expenses charged to the statements of operations for the period ended June, 2017 and December, 2016 were $10,899 (3 months $5,449) and $5,000 (3 months $1,250 and 6 months $2,500) respectively.

ACCRUALS AND OTHER PAYABLES
6 Months Ended
Jun. 30, 2017
Payables and Accruals [Abstract]  
ACCRUALS AND OTHER PAYABLES
7. ACCRUALS AND OTHER PAYABLES

 

Accruals and other payables consist of the following:

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
             
Provisions   $ 92,841     $ 21,243  
Others     575,794       425,244  
Balance at end of period/year   $ 668,635     $ 446,487  
RELATED PARTIES TRANSCTIONS
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
RELATED PARTIES TRANSCTIONS
8. RELATED PARTIES TRANSCTIONS

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
Amount of due from related parties                
Beedo SDN BHD   $ 27,895     $ 18,062  
Ho Wah Genting Berhad     4,890       9,020  
Ho Wah Genting Group Sdn Berhad     247        
Balance at end of period/year   $ 33,032     $ 27,082  

 

Beedo SDN BHD was a subsidiary of related company Ho Wah Genting Group SDN BHD from June 25, 2015 to August 12, 2016.

 

Amount of due from director            
Lim Wee Kiat   $     $ 1,482  
Leong Yee Ming   $     $ 3,945  
Balance at end of period/year   $     $ 5,427  

 

Amount of due from an associated company            
Vitaxel Corporation (Thailand) Limited   $ 139,392     $  
Balance at end of period/year   $ 139,392     $  

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
Amount of due to related parties                
Ho Wah Genting Group Sdn Berhad   $ 856,694     $ 607,918  
Ho Wah Genting Holiday Sdn Bhd     3,792       8,087  
Genting Highlands Taxi Services SDN BHD     16,953       16,234  
Vitaxel Sdn Bhd     17,548        
Grande Legacy Inc.     181,533        
Dato’ Lim Hui Boon     61,423          
Balance at end of period/year   $ 1,137,943     $ 632,239  

 

As of June 30, 2017 and December 31, 2016, the amount due to the President of the Company, Dato’ Lim Hui Boon was $61,423 and $0, respectively. These amounts were unsecured, interest-free and repayable on demand.

 

The President of the Company, Dato’ Lim Hui Boon, is also the Group President of Ho Wah Genting Group Sdn Bhd.

 

A former director of the Company, Lim Chun Hoo, is also a director of Ho Wah Genting Holiday Sdn Bhd.

 

On March 31, 2017, Lim Chun Hoo resigned from the Company.

 

A director of the Company, Lim Wee Kiat, is also a director of Genting Highlands Taxi Services SDN BHD and of Vitaxel SDN BHD.

 

A director of the Company, Leong Yee Ming, is also a director of Grande Legacy Inc.

 

The amount due to the Company’s associated company, Vitaxel Corp. (Thailand) Ltd., was $0 as of June 30, 2017 and $279,219 as of December 31, 2016.

 

The Company recognized an expense of $19,760 pertaining for event, traveling and accommodation expenses during the three months ended June 30, 2017, which was charged to its related company, Ho Wah Genting Holiday Sdn. Bhd.

 

The Company recognized an expense of rent totalling $44,532 of which $4,818 during the three months ended June 30, 2017 was paid to its affiliate, Ho Wah Genting Berhad and $9,635 was paid to Malaysia-Beijing Travel Services Sdn Bhd. The operating lease commitment to Ho Wah Genting Berhad as of June 30, 2017 was $9,635 and $19,271 to Malaysia-Beijing Travel Services Sdn Bhd. The lease commitment are disclosed in note 13 COMMITMENTS AND CONTINGENCIES below under the heading Operation Commitments.  

 

The Company recognized an expense of $5,014 pertaining for website maintenance expense during the three months (six months $51,553) ended June 30, 2017, which was charged by its related company, Beedo Sdn. Bhd.

 

The Company recognized an income of $1,417 pertaining for royalties during three months ended June 30, 2017 which was paid by its associated company, Vitaxel Corp. (Thailand) Limited.

COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
9. COMMITMENTS AND CONTINGENCIES

 

Capital Commitments

The Company engaged a third party to develop an operation software with the total contract amount of $48,069 as of June 30, 2016.

 

Operation Commitments

The total future minimum lease payments under the non-cancellable operating lease with respect to the office and the dormitory, as well as hardware trading platform as of June 30, 2017 are payable as follows:

 

Year ending December 31, 2017     90,810  
Year ending December 31, 2018     22,122  
Total   $ 112,932  

 

Rental expense of the Company was $62,722 (3 months $31,361) and $4,260 (3 months $2,130) for the periods ended June 30, 2017 and 2016, respectively.

 

SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
10. SUBSEQUENT EVENTS

 

On August 21, 2017 Vitaxel Sdn Bhd disposed of Vitaxel Singapore PTE. Ltd. at cost for SGD1.00. Vitaxel Singapore PTE. Ltd. has not been involved in any operations since acquisition.

 

On August 21, 2017, the Board of Directors of the Company appointed Mr. Lim Wee Kiat to serve as the Company’s Chief Financial Officer and principal financial officer, to serve until his successor is apointed. Mr. Lim is also currently the Chairman of the Board of the Company and Secretary.

CORRECTION OF ERROR
6 Months Ended
Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]  
CORRECTION OF ERROR
11. CORRECTION OF ERROR

 

On April 16, 2018 the Board of Directors of Vitaxel Group Limited (the “Company”) determined that the Quarterly Reports on Form 10-Q for the periods ended March 31, 2017, June 30, 2017 and September 30, 2017 need to be revised. These revisions are necessary due to errors with respect to the (i) cost of goods sold, (ii) shares issued in January 2017 and in March 2017 and (iii) minor corrections in the revenues.

Management noted an error in billing to its related party, Vitaxel Corporation Thailand Co., Ltd, for goods sold to them during the two quarters of fiscal year ended December 31, 2017 which led to the changes in cost of goods sold. It was also discovered that shares issued on January 4, 2017 and on March 21, 2017 were not properly recorded in the Form 10-Q for the period ended March 31, 2017. Due to miscommunications within the Company, the shares issued pursuant to the 2016 Equity Incentive Plan were not recorded.

 

As a result of these errors, cost of goods sold were understated by $3,395, overstated by $25,465 and $51,609 respectively for the periods ended March 31, 2017, June 30, 2017 and September 30, 2017. General and administrative expenses were understated by $3,409,604 for the periods ended March 31, 2017, June 30, 2017 and September 30, 2017. Revenue was understated by $38,925 and $22,236 respectively for the periods ended March 31, 2017 and June 30, 2017, and overstated by $3,713 for the period ended September 30, 2017.

 

Accordingly, the previously filed reports should no longer be relied upon and the Company has revised its Consolidated Balance Sheet as of March 31, 2017, June 30, 2017 and September 30, 2017 and Consolidated Statement of Income and Comprehensive Loss for three months ended March 31, 2017, six months ended June 30, 2017 and nine months ended September 30, 2017. The effect of recording the corrections on certain balance sheet accounts are set forth in the below table. The presentation in the Consolidated Statement of Cash Flows have also been restated accordingly.

 

    For 3 months ended March 31, 2017     For Six-Month Period ended June 30, 2017     For Nine-Month Period ended September 30, 2017  
Accounts   As Reported     As Revised     As Reported     As Revised     As Reported     As Revised  
Total Revenue   $ 445,178     $ 483,473     $ 535,793     $ 558,029     $ 557,862     $ 554,149  
Cost of Revenue     (135,589 )     (138,984 )     (203,222 )     (177,757 )     (236,755 )     (185,146 )
Gross Profit     309,589       344,489       332,571       380,272       321,107       369,003  
General and administrative expenses     (527,060 )     (3,936,664 )     (803,890 )     (4,213,494 )     (1,094,498 )     (4,504,102 )
Loss From Operations     (527,161 )     (3,936,765 )     (471,577 )     (3,833,480 )     (774,082 )     (4,135,790 )
Net Loss     (207,412 )     (3,374,704 )     (428,141 )     (3,790,044 )     (754,887 )     (4,116,595 )
Total Comprehensive Loss     (111,688 )     (3,486,392 )     (655,080 )     (4,016,983 )     (766,906 )     (4,128,614 )
Amount due from an associated company     40,957       79,252       117,156       139,392       112,119       108,406  
Accrual and other payables     610,778       614,173       694,100       668,635       660,604       608,995  
Additional paid-in capital     1,340,504       4,749,798       1,340,504       4,749,798       1,340,194       4,749,798  
Accumulated deficit     (2,870,496 )     (6,245,200 )     (2,697,919 )     (6,059,822 )     (2,983,457 )     (6,345,165 )
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Basis of presentation

Basis of presentation

 

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information article 8 of Regulation S-X.

 

This basis of accounting involves the application of accrual accounting and consequently, revenues and gains are recognized when earned, and expenses and losses are recognized when incurred. The Company’s financial statements are expressed in U.S. dollars.

 

Fiscal year end is December 31.

Use of estimates

Use of estimates

 

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Foreign currency translation and transactions

Foreign currency translation and transactions

 

The functional currency of the Company is the Malaysian Ringgit (“MYR”) and reporting currency of the Company is United States Dollar “USD”). The financial statements of the Company are translated into USD using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the year for income and expense items. Translation gains and losses are recorded in accumulated other comprehensive income or loss as a component of shareholders’ equity.

Cash and cash equivalents

Cash and cash equivalents

 

Cash and cash equivalents consist of cash on hand and highly liquid investments, which are unrestricted from withdrawal or use, and which have original maturities of three months or less when purchased.

 

Accounts receivable

Accounts receivable

 

Accounts receivable are recognized and carried at original invoiced amount less an allowance for any potential uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred. The Company generally does not require collateral from its customers. For the period ended June 30, 2017 and for the year ended December 31, 2016, the Company did not write off any accounts receivable as bad debts.

Fair value of financial instruments

Fair value of financial instruments

 

FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). In accordance with ASC 820, the following summarizes the fair value hierarchy:

 

Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access.

 

Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly.

 

Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements.

 

ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. As of June 30, 2017 and December 31, 2016, none of the Company’s assets and liabilities was required to be reported at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including cash, accounts receivables, payables and accrued liabilities, approximate their fair values due to the short term nature of these financial instruments. There were no changes in methods or assumptions during the periods presented.

 

Inventories

Inventories

 

Inventories are stated at lower of cost or market, with cost determined on a weighted-average method, and not to exceed net realizable value. The Company writes down its inventory balances for obsolete amounts estimated on an individual basis for the finished goods and the raw material items with large amounts, and by a category basis for low value raw material items.

Long-term investment

Long-term investment

 

The Company’s interests in associated companies are accounted for under equity method under U.S. GAAP. Under the equity method, if the Company’s share of losses of an associated company equals or exceeds the amount of investment plus advances made by the Company, the Company ordinarily discontinues including its share of losses and the investment is reported at nil value. If the associated company subsequently reports net income, the Company will resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended.

 

Property, plant and equipment, net

Property, plant and equipment, net

 

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives:

 

Office equipment     10 years  
Furniture and fixtures     10 years  
Leasehold improvement     10 years  

 

Revenue recognition

Revenue recognition

 

Product sales − The Company generally recognizes revenue upon delivery and when both the title and risk and rewards pass to the independent members or purchasers of the products. Product sales are recognized net of product returns, discounts and taxes. A reserve for product returns is accrued based on historical experience. There was no deferred revenue accrued as of June 30, 2017 and December 31, 2016.

 

Membership fee − The Company recognizes the membership fee revenue over the term of the membership, which is 12 months. The revenue will not be recognized until the 14 days cooling-off period is expired. For the period ended June 30, 2017 and for the year ended December 31, 2016, all membership fees were waived by the Company for promotion purpose.

 

Loyalty program

Loyalty program

 

The Company operates loyalty program which allows customer to accumulate redemption points when they purchase products from the Company. The redemption points can be used to purchase a selection of products at discounted price or redeem products.

 

The Company allocates consideration received from the sale of goods to the goods sold and the redemption points issued that are expected to be redeemed.

 

The consideration allocated to the redemption points issued is measured at fair value of the redemption points. It is recognized as a liability (deferred revenue) in the statement of financial position and recognized as revenue when the points are redeemed, have expired or are no longer expected to be redeemed. The amount of revenue recognized is based on the number of points that have been redeemed, relative to the number expected to redeem.

 

As of June 30, 2017 and December 31, 2016, there was no such deferred revenue recorded.

 

Commission expense

Commission expense

 

Commission expense incurred by the Company is recognized as cost of revenue and as a liability (commission payable in the consolidated balance sheet. Commission expense is not recoverable once recognized and is expensed as incurred.

Income taxes

Income taxes

 

Current income taxes are provided for in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the combined financial statements. Net operating loss carry forwards and credits are applied using enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics.

 

The impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes are classified as a component of the provisions for income taxes. The Company did not recognize any income tax due to uncertain tax positions or incur any interest and penalties related to potential underpaid income tax expense as of June 30, 2017 and December 31, 2016.

 

Forward Stock split

Forward Stock split

 

On January 27, 2016, our Board of Directors declared a 1333-for-1 forward stock split of our outstanding common stock, par value $0.000001 per share in the form of a dividend (the “Stock Split”) with a record date of February 8, 2016 (the “Record Date”). On February 22, 2016, Financial Industry Regulatory Authority, Inc. (“FINRA”) notified us of its announcement of the payment date of the Stock Split as February 23, 2016 (the “Payment Date”). On the Payment Date, as a result of the Stock split, each holder of our common stock as of the Record Date received 1332 additional shares of our common stock for each one share owned, rounded up to the nearest whole share. All common stock share amounts referenced in this Quarterly Report give retroactive effect to the Stock Split.

Reverse Stock split

Reverse Stock split

 

On May 25, 2017, the Board of Directors of Vitaxel Group Limited (“Vitaxel”) authorized and approved an amendment (the “Amendment”) to Vitaxel’s Amended and Restated Articles of Incorporation, which authorized a one hundred-to-one reverse stock split (the “Reverse Split”) of Vitaxel’s outstanding common stock, par value $0.000001 per share, with a record date of June 12, 2017 (the “Record Date”).

 

As of the effective date of the Reverse Split, every 100 outstanding shares of the Company’s common stock automatically became one share of common stock. The Company’s authorized shares of common stock were reduced in proportion to the reverse split ratio, from 7,000,000,000 shares of authorized common stock prior to the effective date to 70,000,000 shares of authorized common stock on the effective date, and from 100,000,000 shares of authorized preferred stock prior to the effective date to 1,000,000 shares of authorized preferred stock on the effective date. Additionally, as part of the Reverse Split, the par value of both the Company’s common stock and its preferred stock was increased from $0.000001 per share to $0.0001 per share. Immediately prior to the Reverse Split the Company had 5,408,754,000 common shares issued and outstanding and had approximately 54,087,540 common shares issued and outstanding immediately after the Reverse Split.

 

We expect that the Reverse Stock Split will (i) increase the marketability and liquidity of our common stock; (ii) address-liquidity of our common stock; (iii) address the reluctance of brokerage firms and institutional investors to recommend lower priced stocks to their clients or to hold in their own portfolios; and (iv) enable us to maintain the quotation of our common stock on the OTC Markets, Inc. QB Tier.

 

Separately, on May 30, 2017, the Board of Directors of Vitaxel authorized and approved a related increase in the par value of Vitaxel common stock from $0.000001 to $0.0001.

 

On June 13, 2017, Vitaxel received approval from the Financial Industry Regulatory Authority (“FINRA”) to effectuate the Reverse Split at the open of business on June 15, 2017.

 

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Schedule of property, plant and equipment estimated useful lives
Office equipment     10 years  
Furniture and fixtures     10 years  
Leasehold improvement     10 years  
OTHER RECEIVABLES AND OTHER ASSETS (Tables)
6 Months Ended
Jun. 30, 2017
Other Receivables And Other Assets  
Schedule of other receivables and other assets
    As of
June 30,
2017
    As of
December 31,
2016
 
             
Deposits   $ 45,028     $ 19,497  
Other receivables     6,481       2,481  
      51,509       21,978  
LONG-TERM INVESTMENT (Tables)
6 Months Ended
Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of long-term investment

Long-term investment consists of the following:

 

    As of
June 30,
2017
    As of
December 31,
2016
 
Long-term investment -cost   $ 27,539     $ 27,539  
Long-term investment -share of loss in investment in an associated company     (25,716 )     (25,716 )
Foreign currency translation adjustment     (1,823 )     (1,823 )
    $     $  

 

PROPERTY, PLANT AND EQUIPMENT (Tables)
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment, Net [Abstract]  
Schedule of property, plant and equipment, net

Property, plant and equipment, net consist of the following:

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
             
Office equipment   $ 26,275     $ 30,476  
Computer equipment     72,537       61,516  
Furniture and fittings     7,514       7,131  
Electrical & fitting     353       337  
Motor vehicle     15,995       15,315  
Software and website     10,906       7,544  
Renovations     102,523       98,167  
      236,103       220,486  
                 
Less: Accumulated depreciation     (38,033 )     (25,817 )
Balance at end of period/year   $ 198,070     $ 194,669  

 

ACCRUALS AND OTHER PAYABLES (Tables)
6 Months Ended
Jun. 30, 2017
Payables and Accruals [Abstract]  
Schedule of accruals and other payables

Accruals and other payables consist of the following:

 

    As of 
June 30,
2017
    As of 
December 31,
2016
 
             
Provisions   $ 92,841     $ 21,243  
Others     575,794       425,244  
Balance at end of period/year   $ 668,635     $ 446,487  
RELATED PARTIES TRANSCTIONS (Tables)
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Schedule of amount of due from related parties
    As of 
June 30,
2017
    As of 
December 31,
2016
 
Amount of due from related parties                
Beedo SDN BHD   $ 27,895     $ 18,062  
Ho Wah Genting Berhad     4,890       9,020  
Ho Wah Genting Group Sdn Berhad     247        
Balance at end of period/year   $ 33,032     $ 27,082  
Schedule of due to director
     As of 
June 30,
2017
     As of 
December 31,
2016
 
Amount of due from director            
Lim Wee Kiat   $     $ 1,482  
Leong Yee Ming   $     $ 3,945  
Balance at end of period/year   $     $ 5,427  
Schedule of amount due from an associate company
Amount of due from an associated company            
Vitaxel Corporation (Thailand) Limited   $ 139,392     $  
Balance at end of period/year   $ 139,392     $  
Schedule of amount of due to related parties
    As of 
June 30,
2017
    As of 
December 31,
2016
 
Amount of due to related parties                
Ho Wah Genting Group Sdn Berhad   $ 856,694     $ 607,918  
Ho Wah Genting Holiday Sdn Bhd     3,792       8,087  
Genting Highlands Taxi Services SDN BHD     16,953       16,234  
Vitaxel Sdn Bhd     17,548        
Grande Legacy Inc.     181,533        
Dato’ Lim Hui Boon     61,423          
Balance at end of period/year   $ 1,137,943     $ 632,239  
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum lease payments under the non-cancellable operating lease

The total future minimum lease payments under the non-cancellable operating lease with respect to the office and the dormitory, as well as hardware trading platform as of June 30, 2017 are payable as follows:

 

Year ending December 31, 2017     90,810  
Year ending December 31, 2018     22,122  
Total   $ 112,932  

 

CORRECTION OF ERROR (Tables)
6 Months Ended
Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]  
CORRECTION OF ERROR
    For 3 months ended March 31, 2017     For Six-Month Period ended June 30, 2017     For Nine-Month Period ended September 30, 2017  
Accounts   As Reported     As Revised     As Reported     As Revised     As Reported     As Revised  
Total Revenue   $ 445,178     $ 483,473     $ 535,793     $ 558,029     $ 557,862     $ 554,149  
Cost of Revenue     (135,589 )     (138,984 )     (203,222 )     (177,757 )     (236,755 )     (185,146 )
Gross Profit     309,589       344,489       332,571       380,272       321,107       369,003  
General and administrative expenses     (527,060 )     (3,936,664 )     (803,890 )     (4,213,494 )     (1,094,498 )     (4,504,102 )
Loss From Operations     (527,161 )     (3,936,765 )     (471,577 )     (3,833,480 )     (774,082 )     (4,135,790 )
Net Loss     (207,412 )     (3,374,704 )     (428,141 )     (3,790,044 )     (754,887 )     (4,116,595 )
Total Comprehensive Loss     (111,688 )     (3,486,392 )     (655,080 )     (4,016,983 )     (766,906 )     (4,128,614 )
Amount due from an associated company     40,957       79,252       117,156       139,392       112,119       108,406  
Accrual and other payables     610,778       614,173       694,100       668,635       660,604       608,995  
Additional paid-in capital     1,340,504       4,749,798       1,340,504       4,749,798       1,340,194       4,749,798  
Accumulated deficit     (2,870,496 )     (6,245,200 )     (2,697,919 )     (6,059,822 )     (2,983,457 )     (6,345,165 )
ORGANIZATION AND BUSINESS (Details Narrative)
Jan. 18, 2016
shares
Share Exchange & Split-Off Agreement [Member]  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Number of shares surrender and cancellation 3,000,000
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
6 Months Ended
Jun. 30, 2017
Office Equipment [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives P10Y
Furniture and fittings [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives P10Y
Leasehold Improvements [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives P10Y
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - $ / shares
6 Months Ended
Feb. 23, 2016
Jan. 27, 2016
Jun. 30, 2017
Dec. 31, 2016
Accounting Policies [Abstract]        
Description of uncertain income tax position    

An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.

 
Description of forward stock split ratio  

1333-for-1 forward stock split

   
Common stock, par value (in dollars per share)   $ 0.000001 $ 0.0001 $ 0.000001
Number of shares issued upon forward stock split 1,332      
Description of reverse stock split    

As of the effective date of the Reverse Split, every 100 outstanding shares of the Company’s common stock automatically became one share of common stock. The Company’s authorized shares of common stock were reduced in proportion to the reverse split ratio, from 7,000,000,000 shares of authorized common stock prior to the effective date to 70,000,000 shares of authorized common stock on the effective date, and from 100,000,000 shares of authorized preferred stock prior to the effective date to 1,000,000 shares of authorized preferred stock on the effective date. Additionally, as part of the Reverse Split, the par value of both the Company’s common stock and its preferred stock was increased from $0.000001 per share to $0.0001 per share. Immediately prior to the Reverse Split the Company had 5,408,754,000 common shares issued and outstanding and had approximately 54,087,540 common shares issued and outstanding immediately after the Reverse Split.

 
GOING CONCERN (Details Narrative) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accumulated deficit $ 6,059,822 $ 2,639,138
OTHER RECEIVABLES AND OTHER ASSETS (Details) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Other Receivables And Other Assets    
Deposits [1] $ 45,028 $ 19,497
Other receivables [2] 6,481 2,481
Total other receivables and other assets $ 51,509 $ 21,978
[1] Deposits represented payments for rental and utilities.
[2] Others mainly consists other miscellaneous payments.
LONG-TERM INVESTMENT (Details) - Vitaxel Corp Thailand, Ltd [Member] - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2017
Dec. 31, 2016
Oct. 05, 2016
Long-term investment - cost $ 27,539 $ 27,539 $ 27,539
Long-term investment - share of loss in investment in an associated company (25,716) (25,716)  
Foreign currency translation adjustment (1,823) (1,823)  
Long-term investment  
LONG-TERM INVESTMENT (Details Narrative) - Vitaxel Corp Thailand, Ltd [Member] - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Oct. 05, 2016
Long-term investment -cost $ 27,539 $ 27,539 $ 27,539
Ownership percentage     47.99%
Thailand, Baht [Member]      
Long-term investment -cost     $ 958,000
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year $ 236,103   $ 220,486
Less: Accumulated depreciation (38,033)   (25,817)
Balance at end of period/year $ 198,070   194,669
Office Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   $ 26,275 30,476
Computer Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   72,537 61,516
Furniture and fittings [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   7,514 7,131
Electrical and Fitting [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   353 337
Motor Vehicle [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   15,995 15,315
Software and Website [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   10,906 7,544
Renovations [Member]      
Property, Plant and Equipment [Line Items]      
Balance at beginning of period/year   $ 102,523 $ 98,167
PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Property, Plant and Equipment, Net [Abstract]          
Depreciation expenses $ 5,449 $ 1,250 $ 10,899 $ 9,784 $ 5,000
ACCRUALS AND OTHER PAYABLES (Details) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Payables and Accruals [Abstract]    
Provisions $ 92,841 $ 21,243
Others 575,794 425,244
Balance at end of period/year $ 668,635 $ 446,487
RELATED PARTIES TRANSCTIONS (Details) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Amount of due from related parties $ 33,032 $ 27,082
Beedo SDN BHD [Member]    
Amount of due from related parties 27,895 18,062
Ho Wah Genting Group Sdn Berhad [Member]    
Amount of due from related parties 4,890 9,020
Ho Wah Genting Berhad [Member]    
Amount of due from related parties $ 247
RELATED PARTIES TRANSCTIONS (Details 1) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Amounts due to a director $ 5,427
LIM WEE KIAT [Member]    
Amounts due to a director 1,482
LEONG YEE MING [Member]    
Amounts due to a director $ 3,945
RELATED PARTIES TRANSCTIONS (Details 2) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Amounts due to an associated company $ 139,392
Vitaxel Corp Thailand, Ltd [Member]    
Amounts due to an associated company $ 139,392
RELATED PARTIES TRANSCTIONS (Details 3) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Due to a related party $ 1,137,943 $ 632,239
Ho Wah Genting Group Sdn Berhad [Member]    
Due to a related party 856,694 607,918
Ho Wah Genting Group Sdn Bhd [Member]    
Due to a related party 3,792 8,087
Genting Highlands Taxi Services SDN BHD [Member]    
Due to a related party 16,953 16,234
Vitaxel Sdn Bhd [Member]    
Due to a related party 17,548
Grande LegacyInc [Member]    
Due to a related party 181,533
Dato Lim Hui Boon [Member]    
Due to a related party $ 61,423 $ 0
RELATED PARTIES TRANSCTIONS (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Related Party Transaction [Line Items]          
Due to a related party $ 1,137,943   $ 1,137,943   $ 632,239
Rent expenses 31,361 $ 2,130 62,722 $ 4,260  
Vitaxel Corp Thailand, Ltd [Member]          
Related Party Transaction [Line Items]          
Due to a related party 0   0   279,219
Royalties 1,417        
Dato Lim Hui Boon [Member]          
Related Party Transaction [Line Items]          
Due to a related party 61,423   61,423   $ 0
Beedo SDN BHD [Member]          
Related Party Transaction [Line Items]          
Website maintenance expense 5,014   51,553    
Ho Wah Genting Berhad [Member]          
Related Party Transaction [Line Items]          
Amount paid to affiliate 44,532        
Rent expenses 4,818        
Operating lease commitment 9,635   9,635    
Malaysia-Beijing Travel Services Sdn Bhd [Member]          
Related Party Transaction [Line Items]          
Rent expenses 9,635        
Operating lease commitment 19,271   $ 19,271    
Ho Wah Genting Holiday Sdn. Bhd [Member]          
Related Party Transaction [Line Items]          
Traveling and accommodation expenses $ 19,760        
COMMITMENTS AND CONTINGENCIES (Details)
Jun. 30, 2017
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Year ending December 31, 2017 $ 90,810
Year ending December 31, 2018 22,122
Total $ 112,932
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]        
Rental expense $ 31,361 $ 2,130 $ 62,722 $ 4,260
Capital Commitments $ 48,069   $ 48,069  
CORRECTION OF ERROR (Details) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Sep. 30, 2017
Dec. 31, 2016
Gross Profit $ 35,783   $ 78,809 $ 380,272 $ 383,603    
General and administrative expenses (227,549)   (572,549) (4,213,494) (930,303)    
Net Loss (158,841)   (488,952) (3,790,044) (486,342)    
Total Comprehensive Loss (62,867)   $ (457,375) (4,016,983) $ (560,590)    
Amount due from an associated company 139,392     139,392    
Accumulated deficit (6,059,822)     (6,059,822)     $ (2,639,138)
Scenario, Previously Reported [Member]              
Total Revenue   $ 445,178   535,793   $ 557,862  
Cost of Revenue   (135,589)   (203,222)   (236,755)  
Gross Profit   309,589   332,571   321,107  
General and administrative expenses   (527,060)   (803,890)   (1,094,498)  
Loss From Operations   (527,161)   (471,577)   (774,082)  
Net Loss   (207,412)   (428,141)   (754,887)  
Total Comprehensive Loss   (111,688)   (655,080)   (766,906)  
Amount due from an associated company 117,156 40,957   117,156   112,119  
Accrual and other payables 694,100 610,778   694,100   660,604  
Additional paid-in capital 1,340,504 1,340,504   1,340,504   1,340,194  
Accumulated deficit (2,697,919) (2,870,496)   (2,697,919)   (2,983,457)  
As Revised [Member]              
Total Revenue   483,473   558,029   554,149  
Cost of Revenue   (138,984)   (177,757)   (185,146)  
Gross Profit   344,489   380,272   369,003  
General and administrative expenses   (3,936,664)   (4,213,494)   (4,504,102)  
Loss From Operations   (3,936,765)   (3,833,480)   (4,135,790)  
Net Loss   (3,374,704)   (3,790,044)   (4,116,595)  
Total Comprehensive Loss   (3,486,392)   (4,016,983)   (4,128,614)  
Amount due from an associated company 139,392 79,252   139,392   108,406  
Accrual and other payables 668,635 614,173   668,635   608,995  
Additional paid-in capital 4,749,798 4,749,798   4,749,798   4,749,798  
Accumulated deficit $ (6,059,822) $ (6,245,200)   $ (6,059,822)   $ (6,345,165)  
CORRECTION OF ERROR (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Mar. 31, 2017
Jun. 30, 2017
Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]      
Cost of goods sold undercasted/overstated $ (3,395) $ 25,465 $ 51,609
General and administrative expenses understated (3,409,604) (3,409,604) (3,409,604)
Revenue undercasted/overstated $ (38,925) $ (22,236) $ 3,713