Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 276

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 276
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 arrangement and office equipment under a 3 -yearlease agreement. In Germany, the Group leases office premises under a 53 -monthlease agreement. In US, the Group leases office premises under a 37 -monthlease agreement. Lease payments are made in advance at the beginning of each month during the term of tenancy. Extension options The Group has lease contracts with extension options exercisable up to 3 years before the end of the non -cancellablecontract period. These extension options are exercisable by the Group and not by the lessors. The extension options are used by the Group to provide operation flexibility in terms of managing the assets used in the Group’s operation.

F-28

OTSAW LIMITED AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024 19.The Group as a lessee (cont.) Recognition exemptions The Group has certain office equipment and office premises with lease terms of 12 months or less. For such leases, the Group has elected not to recognise right -of -useassets and lease liabilities. (a)Right-of-use assets The carrying amount of right -of -useassets by class of underlying asset classified within property, plant and equipment are as follows:

|                     |     | Premises |   |     |    Office 
 equipment |   |     |    Total |   |
|                     |     |      USD |   |     |       USD |   |     |      USD |   |
| Group and Company   |     |          |   |     |           |   |     |          |   |
| At 1 May 2022       |     |  740,895 |   |     |       242 |   |     |  741,137 |   |
| Additions           |     |  304,937 |   |     |     3,964 |   |     |  308,901 |   |
| Disposal            |     |  (61,533 | ) |     |         — |   |     |  (61,533 | ) |
| Depreciation        |     | (281,739 | ) |     |    (1,565 | ) |     | (283,304 | ) |
| Exchange difference |     |   24,012 |   |     |        75 |   |     |   24,087 |   |
|