Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 159

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 159
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 prior to the date of such disposal. The exemption prescribed under Section 13W of the ITA is not applicable under the following scenarios:

| (i)  | is                                                                 
 in the business of trading Singapore immovable properties; or      |
| (ii) | principally                                                        
 carries on the activity of holding Singapore immovable properties, |
|      | other than property development, where the shares are              
 not listed on a stock exchange in Singapore or elsewhere;          |

| (i)   | is                                                                                                     
 in the business of trading immovable properties situated whether in Singapore or elsewhere;            |
| (ii)  | principally                                                                                            
 carries on the activity of holding immovable properties situated whether in Singapore or elsewhere; or |
| (iii) | has                                                                                                    
 undertaken property development in Singapore or elsewhere, except where:                               |

| (A) | the                                                                                                                                
 immovable property developed is used by the company to carry on its trade or business (including the business of letting immovable 
 properties), not being a business mentioned in subparagraph (c)(i); and                                                            |
| (B) | the                                                                                                                                
 company did not undertake any property development in Singapore or elsewhere for a period of at least 60 consecutive months before 
 the disposal of shares; or                                                                                                         |

| (d) | the                                                                                                                                
 disposal(s) of shares by a partnership, limited partnership and limited liability partnership one or more of the partners of which 
 is a company or are companies.                                                                                                     |

Under Section 10L of the ITA, gains from the sale or disposal of our Class A ordinary shares by an entity which is a member of a group of entities, where (i) the entities of the group are not all incorporated, registered or established in a single jurisdiction; or (ii) any entity of the group has a place of business in more than one jurisdiction, may be treated as income chargeable to tax under the ITA, if the gains are received in Singapore from outside Singapore from a sale or disposal that occurs on or after January 1, 2024, and (a) the gains would not otherwise be chargeable to tax as income under Section 10(1) of the ITA; or (b) the gains would otherwise be exempt from tax under the ITA (collectively, “foreign-sourced disposal gains”). IRAS has indicated that foreign-sourced disposal gains from the sale or disposal of a foreign asset (not being an intellectual property right) will not be brought to tax if the