Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 16

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 16
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, any involvement we may have in litigation or insolvency proceedings, and unfavorable or negative
articles on any of our Directors, Executive Officers or Major Shareholders. Any claims and legal actions brought forward by our customers
may also have a negative impact on our brand image. If our customers, suppliers and sub-contractors subsequently lose confidence in us,
this could result in the termination of business relationships or fewer referrals or invitations to tender or quote for facilities management
or other contracts. To this end, our business, financial condition, results of operations and prospects may be adversely impacted.

Any
adverse material changes to the Singapore market (whether localized or resulting from global economic or other conditions) such as the
occurrence of an economic recession, pandemic or widespread outbreak of an infectious disease (such as COVID-19), could have a material
adverse effect on our business, results of operations and financial condition.

During
FY 2024 and FY 2023, substantially all of our revenue was derived from our operations in Singapore. Any adverse circumstances affecting
the Singapore market, such as an economic recession, epidemic outbreak or natural disaster or other adverse incidents may adversely affect
our business, financial condition, results of operations and prospects. Any downturn in the industry which we operate in resulting in
the postponement, delay or cancellation of contracts and delay in recovery of receivables is likely to have an adverse impact on our
business and profitability.

Uncertain
global economic conditions have had and may continue to have an adverse impact on our business in the form of lower net sales due to
weakened demand, unfavorable changes in product price/mix, or lower profit margins. In addition, the effect of inflation often results
in reduced spending.

During
economic downturns or recessions, there can be a heightened competition for sales and increased pressure to reduce selling prices as
our customers may reduce their demand for our services. If we lose significant sales volume or reduce selling prices significantly, then
there could be a negative impact on our combined financial condition or results of operations, profitability and cash flows.

Reduced
availability of credit may also adversely affect the ability of some of our customers and suppliers to obtain funds for operations and
capital expenditures. This could negatively impact our ability to obtain necessary supplies as well as our sales of equipment to affected
customers. This could additionally result in reduced or delayed collections of outstanding accounts receivable.

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  Table of Contents  

Many
of the economies in Asia, including Singapore, are experiencing substantial