SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 11)

HWH International Inc.

(Name of Issuer)

COMMON STOCK, $0.0001 PAR VALUE

(Title of Class of Securities)

44852G309

(CUSIP Number)

Heng Fai Ambrose Chan
9 Temasek Boulevard #16-04, Suntec Tower Two
Singapore, U0, 038989
(65) 6333 9181

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

03/30/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Checkbox not checked

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP Number(s):

44852G309

Name of reporting person

Heng Fai Ambrose Chan

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,002,600.00
8	Shared Voting Power 6,014,319.00
9	Sole Dispositive Power 1,002,600.00
10	Shared Dispositive Power 6,014,319.00

Aggregate amount beneficially owned by each reporting person

6,014,319.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

79.9 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Aggregate amount includes (i) 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock, $0.0001 par value held by Alset Acquisition Sponsor, LLC; (ii) 1,002,600 shares of common stock owned directly by Mr. Chan; (iii) 1,891,279 shares of common stock held by Alset International Limited; and (iv) 2,537,590 shares of common stock held by Alset Inc., over which Mr. Chan may be deemed to possess indirect beneficial ownership as the Chief Executive Officer and Chairman of Alset Inc. and Alset International Limited. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of April 1, 2026.

SCHEDULE 13D

CUSIP Number(s):

44852G309

Name of reporting person

Alset Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,011,719.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,011,719.00

Aggregate amount beneficially owned by each reporting person

5,011,719.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

66.6 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Aggregate amount includes (i) 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock, $0.0001 par value held by Alset Acquisition Sponsor, LLC, a majority owned subsidiary of Alset Inc.; (ii) 1,891,279 shares held by Alset International Limited, a majority owned subsidiary of Alset Inc; and (iii) 2,537,590 shares held by Alset Inc. directly. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of April 1, 2026.

SCHEDULE 13D

CUSIP Number(s):

44852G309

Name of reporting person

Alset International Limited

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,891,279.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,891,279.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

1,891,279.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

25.3 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of April 1, 2026.

SCHEDULE 13D

CUSIP Number(s):

44852G309

Name of reporting person

Alset Acquisition Sponsor, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 582,850.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 582,850.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

582,850.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

7.7 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Aggregate amount includes 535,475 shares and warrants convertible into 47,375 shares of the Issuer's common stock. Percentage is based on 7,476,400 shares of the Issuer's common stock outstanding as of April 1, 2026.

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

COMMON STOCK, $0.0001 PAR VALUE

(b)

Name of Issuer:

HWH International Inc.

(c)

Address of Issuer's Principal Executive Offices:

4800 Montgomery Lane, Suite 210, Bethesda,, MARYLAND , 20814.

Item 2.

Identity and Background

(a)

Heng Fai Ambrose Chan

(b)

9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989

(c)

Chief Executive Officer - Alset International Limited

(d)

None.

(e)

None.

(f)

Singapore

Item 3.

Source and Amount of Funds or Other Consideration

On March 30, 2026 Alset International Limited sold 100,390 shares of the Issuer's common stock at a weighted average sale price of $0.983. This transaction was executed in multiple trades at prices ranging from $0.88 to $1.22. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Item 4.

Purpose of Transaction

The Reporting Persons do not have any present plans or proposals related to the transaction described herein that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, although, the Reporting Person, at any time, and from time to time, may review, reconsider and change their position, purposes and plans. Separately from this transaction, one of the Reporting Persons, Alset Inc., may acquire additional securities of the Issuer pursuant to and upon the closing of certain transactions described in the Issuer's Information Statement filed with the SEC on February 17, 2026.

Item 5.

Interest in Securities of the Issuer

(a)

Heng Fai Ambrose Chan: 6,014,319, 79.9% Alset Inc.: 5,011,719, 66.6% Alset International Limited: 1,891,279, 25.3% Alset Acquisition Sponsor, LLC: 582,850, 7.7%

(b)

Heng Fai Ambrose Chan: Sole power to vote or to direct the vote - 1,002,600 Shared power to vote or to direct the vote - 5,011,719 Sole power to dispose or to direct the disposition of - 1,002,600 Shared power to dispose or to direct the disposition of - 5,011,719 Alset Inc.: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 5,011,719 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 5,011,719 Alset International Limited: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 1,891,279 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 1,891,279 Alset Acquisition Sponsor, LLC: Sole power to vote or to direct the vote - 0 Shared power to vote or to direct the vote - 582,850 Sole power to dispose or to direct the disposition of - 0 Shared power to dispose or to direct the disposition of - 582,850

(c)

None.

(d)

Not applicable.

(e)

Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

None.

Item 7.

Material to be Filed as Exhibits.

Joint Filing Agreement dated as of January 19, 2024.

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.

Heng Fai Ambrose Chan

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan, an Individual
Date:	04/01/2026

Alset Inc.

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan, Chief Executive Officer
Date:	04/01/2026

Alset International Limited

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan, Chief Executive Officer
Date:	04/01/2026

Alset Acquisition Sponsor, LLC

Signature:	/s/ Heng Fai Ambrose Chan
Name/Title:	Heng Fai Ambrose Chan, Chief Executive Officer of Alset SPAC Group Inc., its sole member
Date:	04/01/2026

Amendment: SEC Form SCHEDULE 13D/A filed by HWH International Inc.