Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 58

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 4
Chunk 58
---
 of the benefits of criminal conduct as well as
the knowing assistance of the concealment, transfer or retention of such benefits.

The
Terrorism (Suppression of Financing) Act 2002 of Singapore, or TSOFA, is the primary legislation for the combating of terrorism
financing. It was enacted to give effect to the International Convention for the Suppression of the Financing of Terrorism. Besides criminalizing
the laundering of proceeds derived from drug dealing and other serious crimes and terrorism financing, the CDSA and the TSOFA also require
suspicious transaction reports to be lodged with the Suspicious Transaction Reporting Office. If any person fails to lodge the requisite
reports under the CDSA and the TSOFA, it may be subject to criminal liability. The Company believes that it is in compliance with the
provisions of the CDSA and the TSOFA.

As
Singapore incorporated companies, the Company’s subsidiaries must generally comply with the provisions of the CDSA and TSOFA. The
Company’s subsidiaries believe that they are in compliance with the provisions of the CDSA and the TSOFA.

  46  

  Table of Contents  

C.
Organizational structure.

The
chart below illustrates our corporate structure and identifies our subsidiaries as of the date of this Report:

*Mr. LEE Kelvin Soon Sze owns
1 Shares directly of the outstanding shares of SIMPPLE LTD and 5.35% indirect interest of the outstanding shares of SIMPPLE LTD. Mr.
Kelvin Lee Soon Sze directly holds 1 Share of SIMPPLE LTD, and holds 5.35% indirect interest in SIMPPLE LTD. through his 12.69% shareholding
of Mains D’ Or Investments Limited.

  Name                    Background                                                                                                                             Ownership                
  IFSC                    Incorporated                                                                                                                           100%                     
  Pte. Ltd.               on March 18, 2016 as a private company limited by shares under the laws of Singapore                                                   owned by SIMPPLE LTD.    
  Gaussian                Incorporated                                                                                                                           100%                     
  Robotics Pte. Ltd.      on May 18, 2017 as a private company limited by shares under the laws of Singapore. Acquired by IFSC Pte. Ltd. on August 15, 2017      owned by IFSC Pte. Ltd.  
  SIMPPLE                 Incorporated                                                                                                                           100%                     
  Pte. Ltd.               on October 13, 2020 as a private company limited