{"schema_version":"secwatch.filing_event.v1","accession":"0001753926-22-001656","form_type":"8-K","ticker":null,"cik":"0001623590","company_name":"Fintech Scion Ltd","filed_at":"2022-12-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:51.475809+00:00","generated_at":"2026-06-20T21:29:38.069228+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"HWGC sells e-commerce subsidiaries to CEO for RM4.5M debt assumption","bullets":["Sold all outstanding shares of Vitaxel and Vionmall to CEO/CFO/director Leong Yee Ming.","Total purchase price of RM4,500,002 (≈$1.02M) paid via assumption of intercompany debt.","Sale was a required condition for regulatory approval of HWGG Capital PLC acquisition.","HWGC remains indebted to Vitaxel for RM473,409 after the debt assumption.","Transaction classified as related-party; company exits e-commerce business."],"urls":{"canonical":"https://secwatch.observer/filing/0001753926-22-001656","json":"https://secwatch.observer/filing/0001753926-22-001656.json","markdown":"https://secwatch.observer/filing/0001753926-22-001656.md","text":"https://secwatch.observer/filing/0001753926-22-001656.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1623590/000175392622001656/0001753926-22-001656-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1623590/000175392622001656/g083332_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T21:29:38.069228+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"da19e6a902501c68761d02899d728968805ed0ff","claim":"Fintech Scion Ltd completed a disposition involving Leong Yee Ming for RM4,500,002 (closed 2022-12-30).","evidence_excerpt":"and Exchange Commission on each of November 15, 2022, and November 30, 2022, regarding said acquisitions. The Company sold the Subsidiaries for an aggregate purchase price of RM4,500,002 (the “ Purchase Price ”), with RM4,500,000 allocated for the purchase of Vitaxel and RM2 for the purchase of Vionmall. The Purchase Price was paid by the Purchaser’s assumption of","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1623590/000175392622001656/0001753926-22-001656-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Leong Yee Ming"},{"label":"Consideration","value":"RM4,500,002"},{"label":"Closing","value":"2022-12-30"}],"fact_type":"ma_transaction"},{"claim_id":"2bd8130ca7c3465dfe4b85829f5bb36b33dea914","claim":"Fintech Scion Ltd entered into Stock Purchase Agreement with Leong Yee Ming and Vitaxel Sdn Bhd valued at RM4,500,002 (effective 2022-12-30).","evidence_excerpt":"On December 30, 2022, HWGC Holdings Limited, a Nevada corporation (the “ Company ”), entered into a stock purchase agreement (the “ Agreement ”) with Leong Yee Ming, a member of the board of directors of the Company and the Company’s Chief Executive Officer, Chief Financial Officer, and Secretary (the “ Purchaser ”), and, for purposes of the assignment of certain intercompany debt, Vitaxel Sdn Bhd, a wholly-owned subsidiary of the Company which is incorporated in Malaysia (“ Vitaxel ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1623590/000175392622001656/0001753926-22-001656-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Leong Yee Ming and Vitaxel Sdn Bhd"},{"label":"Value","value":"RM4,500,002"},{"label":"Effective","value":"2022-12-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}