Company: EGG
Filing Date: 2025-03-28
Form Type: F-1
Source: 0001641172-25-001072
Chunk: 207

Company: ENIGMATIG LTD
Filing Date: 2025-03-28
Form: F-1
Chunk 207
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 Company                     |
| Desfran            
 Consulting DMCC    |     | Controlled                           
 by entity’s shareholder, Desmond Foo |
| Desmond            
 Foo                |     | Shareholder                          
 and director of the Company          |

Due from related party

The Company gave advances to Desfran Consulting DMCC for working capital purposes. The receivable balance due from Desfran Consulting DMCC was recorded under other current asset with amount $nil, $30,467 and $18,450 as of September 30, 2024, 2023 and 2022, respectively. Such balance is interest free, unsecured, and due on demand without an agreement.

Amount due from shareholder (Desmond Foo)

The director, Desmond Foo collected receipts from customers on behalf of the Company. The receivable balance due from director was $nil, $732,482 and $1,533,977 as of September 30, 2024, 2023 and 2022, respectively. In addition, the director took an advance from the Company over a short period of time. Such balance is interest free, unsecured, and due on demand without an agreement.

Loan from shareholder (Desmond Foo)

The shareholder and director Desmond Foo gave advances to the Company for working capital purposes. The loan was $nil, $1,062,585 and $715,345 as of September 30, 2024, 2023 and 2022, respectively. Such balance is interest free, unsecured and due on demand.

| 12 | Income taxes |

Cayman Islands, Seychelles and BVIs

The Company and its subsidiary, Enigmatig Corp Limited and Enigmatig (BVI) Limited, are domiciled in the Cayman Islands, Seychells and the British Virgin Islands, respectively. All localities currently enjoy permanent income tax holidays; accordingly, the Company, Enigmatig Corp Limited and Enigmatig (BVI) Limited do not accrue for income taxes.

Singapore

The Company’s subsidiary, Enigmatig Pte Ltd, is considered Singapore tax resident enterprises under Singapore tax laws; accordingly, they are subject to enterprise income tax on their taxable income as determine under Singapore tax laws and accounting standards at a statutory tax rate of 17% for years ended September 30, 2024, 2023 and 2022, with 75% of the first S$10,000 taxable income and 50% of the next S$190,000 taxable income exempted from income