Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 290

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 290
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 93.3% after exercise the purchase option. 4On January 31, 2024 Otsaw Logistic Pte Ltd which was loss making and did not form part of Otsaw’s core business was sold to Mr Ling, a related party, the founder and CEO of Otsaw for consideration of SGD1. 2.Summary of significant accounting policies 2.1Basis of preparation The Consolidated financial statements of the Group and the statement of financial position of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS) under the historical cost convention, except as disclosed in the accounting policies below. In the current year, the Company has adopted all the new and revised IFRSs that are relevant to its operations and effective for current financial year. The adoption of these new or revised IFRSs did not result in changes to the Company’s accounting policies and has no material effect on the current or prior year’s Consolidated financial statements and is not expected to have a material effect on future periods.

F-10

OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 2.Summary of significant accounting policies (cont.) Standards issued but not yet effective The Group will apply for the first -timecertain standards and amendments, which are effective for annual periods beginning on or after May 1, 2024. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Based on an initial assessment, the following new and amended standards are not expected to have a significant impact on the Group’s consolidated financial statements.

| IFRS                             |     | Title                                                                                 |     | Annual periods     
 beginning on/after |
| Amendments to IFRS 10 and IAS 28 |     | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture |     | To be determined   |

The Group and the Company do not intend to early adopt any of the above new/revised standards, interpretations and amendments to the existing standards. Management anticipates that the adoption of the aforementioned revised/new standards will not have a material impact on the consolidated financial statements of the Group in the period of their initial adoption. 2.2Going concern The Consolidated financial statements of the Group and Company have been prepared on a going concern basis notwithstanding the net current liabilities of USD 10,012,