Company: NUTR
Filing Date: 2025-03-25
Form Type: CORRESP
Source: 0001641172-25-000449
Chunk: 118

Company: NUSATRIP Inc
Filing Date: 2025-03-25
Form: CORRESP
Chunk 118
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 known or be independently discovered
by competitors. Any of the foregoing could prevent us from competing effectively and could have an adverse effect on our business, operating
results, and financial condition.

Competition

The travel industry in SEA and APAC is competitive.
Travel suppliers, travel distributors and wholesalers, OTAs, travel agencies and corporate travel service providers all compete for a
share of the overall travel market, and we compete for our own share across multiple market segments. In the competitive market of online
travel agencies and travel tech, we encounter formidable rivals in the form of travel marketplaces, independent players operating travel
platforms and websites, and even airline or hotel themselves. Notable competitors include Traveloka, Tiket, Pegipegi, and Via. However,
our business model, which revolves around controlling the supply through the acquisition of strategic suppliers, places greater emphasis
on selling an attractive set of prices, with various unique routes. We firmly believe that we achieve effective competitiveness in our
core categories by leveraging our source of suppliers, reliable operations, and robust distribution channels.

The landscape for the B2B distribution platform exhibits
lower levels of competition. Our primary rivals in the region encompass other B2B platforms vying for the opportunity to distribute airline
and hotel prices within our chosen regions. As our business expands and we acquire more travel agencies while securing more airline partnerships,
we attain a larger market share and establish better defenses against competing distributors, resellers, and the B2B2C (business-to-business-to-consumer)
market. Furthermore, we are confident that the increasing scale of our operations and our dedicated focus on optimizing supply sources
and distribution channels enable us to effectively compete for the market share to distribute highly sought-after routes and destinations.

The B2C market, on the other hand, is fiercely competitive.
Our competitors range from highly marketable online travel agencies, travel websites players and multinational travel companies, particularly
those hailing from Europe or North America, to travel platforms like Traveloka and Tiket that have developed their own B2C platforms in
the form of websites and mobile apps and extend their services to other countries in the region. Nonetheless, we firmly believe that we
maintain effective competitiveness in our core categories due to our competitive pricing and extensive routes coverage, which sets us
apart in the market.

In the future, we may face increased competition through
the emergence of new competitors or business models. Some of our competitors may have access to significant greater financial resources,
wider name recognition and well-established