Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 53

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 4
Chunk 53
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operate in a competitive environment and face competition from new and existing competitors based in Singapore and elsewhere. Previously,
the Company focused largely on the Environmental Services (1,500 companies licensed by NEA in Singapore) and Property Management sectors.
Today, the Company has expanded its clientele to include sectors such as Security (250 companies supporting the Home Team in Singapore)
and Facility Management (96 companies that are classed under FM01 workhead).

The
competitive landscape in Singapore can be broadly categorized into Software, IoT sensors, and Robotics. The solution providers vary across
product segments with companies like Swipetask, EF Software, V3 Smart Technologies, Advancer Smart Technology (AST), Smart Clean, Unabiz,
Gabkotech, Facilitybot, Lionsbot, Jeff Supplies, Globotix, and KABAM Robotics. That said, our competitive advantage reside in our end-to-end
integrated facility management platform that brings IoT sensors, robotics, and the human workforce all into a single unified software
system. This allowed for the majority of the large building service contractors in Singapore to deploy our solutions over our competitors
listed. That said, out of those listed solution providers, there are another two companies that emerged in recent years and provide similar
capabilities to SIMPPLE, and they are Willowmore Singapore and Univers.

Outside
of Singapore, we see major software company such as Team Software be one of our biggest competitors. That said, we believe that our holistic
ecosystem solution developed in Singapore would present a strong alternative to the existing competition and have started to grow as
a brand-agnostic platform with different brands of supplier partners in the IoT and robotic fields.

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INSURANCE

As
of the date of the Report, certain of our subsidiaries have taken out group hospital and surgical policies, foreign worker medical policies,
and performance bond insurances, in respect of our employees, as well as insurance in accordance with WICA. We may be required to take
up additional insurance policies in compliance with specific customer requirements as well. Such additional insurance includes public
liability insurance.

The
above insurance policies are reviewed annually to ensure that our Group has sufficient insurance coverage. Our Directors believe that
we have adequate insurance coverage for the purposes of our business operations and we will procure the necessary additional insurance
coverage for our business operations, properties and assets as and when the need arises.

FACILITIES

Our
principal place of business is 71 Ayer Rajah Crescent #03-07