Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 57

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 4
Chunk 57
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 aforementioned rights.

Employment
of Foreign Manpower Act 1990 of Singapore

The
employment of foreign workers in Singapore is governed by the EFMA and regulated by MOM. In Singapore, under Section 5(1) of
the EFMA, no person shall employ a foreign worker unless he has obtained in respect of the foreign worker a valid work pass. The foreign
worker has to be employed and carry out duties in respect of his or her work pass. Any person who fails to comply with or contravenes
Section 5(1) of the EFMA shall be guilty of an offence and shall:

  (a)      be liable on conviction to a fine                                                                                          
  (b)      on a second or subsequent conviction:                                                                                      

  (i)       in the case of an individual, be                                                                                                     
  (ii)      in any other case, be punished, with a fine not less                                                                                 

IFSC
has 7 employees who are covered by the EFMA and has obtained a valid work pass. We believe that we are in compliance with its requirements.

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  Table of Contents  

Regulations
on Data Protection and Information Security

The
Personal Data Protection Act 2012 of Singapore (“ PDPA

In
the course of operating their businesses, the Company’s subsidiaries collect and use personal data from consenting customers. The
Company’s subsidiaries have implemented various processes to safeguard the personal data collected from its customers, which include
the appointment of a Data Protection Officer with an appropriate level of knowledge and specific responsibilities to ensure data protection
within the Group, as well as providing data protection training to all employees of the Company’s subsidiaries.

The
Company’s subsidiaries believe that they are in compliance with all PDPA requirements. In addition, IFSC has been certified
ISO 27001 compliant since May 2023, demonstrating the company’s ability to meet the minimum threshold expected to protect personal
data. IFSC is also ISO 9001 certified, which shows that the internal processes to ensure data security are in place.

Regulations
on Anti-Money Laundering and Prevention of Terrorism Financing

The
primary anti-money laundering legislation in Singapore is the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of
Benefits) Act 1992 of Singapore, or CDSA, provides for the confiscation of benefits derived from, and to combat, corruption, drug dealing
and other serious crimes. Generally, the CDSA criminalizes the concealment or transfer