Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 313

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 313
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 subsidiary of Serial System International Pte Ltd, a shareholder of the Company, in connection with working capital requirements of the Company, for a loan of US$300,000 with interest rate of 24% and maturity date May 31, 2023. The Company and Serial System International Pte Ltd subsequently agreed in principle that the maturity date will not be enforced. As of April 30, 2024 and 2023, the outstanding balance under this loan was US$193,909 and US$313,167, respectively. (2)On April 27, 2023, the Company entered into a loan agreement with Asian Prosperity Singapore Pte. Ltd., a Singapore corporation, in connection with working capital requirements of the Company, for a loan of S$250,000 (US$195,955) at an interest rate of 6%. The loan is repayable June 27, 2023. As of April 30, 2024 and 2023, the outstanding balance under this loan of principal amount was S$296,410 (US$217,756) and S$250,000 (US$187,406) respectively. The owner of Asian Prosperity Singapore Pte. Ltd. is a director of Serial System International Pte Ltd, a shareholder of the Company. (3)During the year, USD8,746,280 related party loans were converted to share capital (Note 15) (4)On January 1, 2023, the Company entered into an oral loan agreement with Mr. Ling Ting Ming, in connection with working capital requirements of the Company, for a loan of S$5,000,000 at an interest rate of 12% and due on demand. On March 26, 2024, the Company and Mr. Ling Ting Ming agreed to increase the loan by S$2,000,000 to S$7,000,000 with the interest rate remaining unchanged and no maturity date specified. As of April 30, 2024 and 2023, we had an outstanding balance under this loan of S$5,302,596 (US$3,895,531) and S$2,376,674 (US$1,781,615), respectively. (5)During the fiscal year ended April 30, 2024, the Company entered into an oral loan agreement with Mr. Goh Way Siong, a shareholder of the Company, in connection with working capital requirements of the