Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 305

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 305
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 Group remeasures the lease liability when there is a change in the lease term due to a change in assessment of whether it will exercise a termination or extension or purchase option or due to a change in future lease payment resulting from a change in an index or a rate used to determine those payment. Where there is a remeasurement of the lease liability, a corresponding adjustment is made to the right -of -useasset or in profit or loss where there is a further reduction in the measurement of the lease liability and the carrying amount of the right -of -useasset has been reduced to zero. 2.17 Government grants Government grants are recognised when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. Where the grant relates to an expense, the grant is recognised as income in profit or loss on a systematic basis over the periods in which the related costs, for which the grants are intended to compensate, is expensed. Where the grant relates to an asset, the grant is recognised as deferred capital grant on the statement of financial position and is amortised to profit or loss over the expected useful life of the relevant asset by equal annual instalment. Non -monetarygovernment grant is recognised at nominal amount. 2.18 Foreign currency transactions and translation The Company’s reporting currency is the U.S. dollar. The functional currencies of the Otsaw Group and its subsidiaries are their local currencies (Singapore dollar, U.S. dollar, Euro). The Company engages in foreign currency denominated transactions with customers and suppliers, as well as between subsidiaries with different functional currencies. Gains and losses resulting from transactions denominated in non -functionalcurrencies are recognized in earnings. At the end of the reporting period, assets and liabilities are translated into U.S. dollars using the exchange rate at the balance sheet date and revenue and expense accounts are translated at a weighted average exchange rate for the period or for the year then ended. Resulting translation adjustments are made directly to accumulated other comprehensive income. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period, or in previous consolidated financial statements, are recognized in profit or loss in the period in which they arise. When a gain or loss on a non -monetaryitem is recognized to other comprehensive income and accumulated in equity, any exchange component of that gain or loss is recognized to other comprehensive income and accumulated in equity. When a gain or loss on a non -monetaryitem