Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 42

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 42
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ifswald Kdör — accounted for approximately 13.75%, 10.51%, and 10.13% of our sales, respectively. For the six months ended October31, 2023, these customers represented 13.26%, 10.16% and 14.51% of our sales, respectively. For the fiscal year ended April30, 2024, our top three customers — Engie Services Singapore Pte Ltd, Ng Teng Fong General Hospital, and Sengkang General Hospital Pte Ltd — contributed approximately 10.68%, 12.10%, and 10.79% of our sales, respectively. For the six months ended October31, 2024, these customers accounted for 21.79%, 11% and 17.5% of our sales, respectively. Our service and maintenance contracts typically have durations of one to three years and are not guaranteed to be renewed upon expiration. Moreover, as our products age, the cost of spare parts tends to increase significantly, which may result in higher maintenance expenses for our customers. This could negatively affect their willingness to continue existing contracts or enter into new service and maintenance agreements with us. If we are unable to renew contracts with our key customers on favorable terms, or if we lose one or more major customers, our business, financial condition, and results of operations could be materially and adversely affected. We may face difficulties as we expand our operations into regions or countries in which we have no prior operating experience. Our growth strategy relies on our global expansion in order to provide geographic breadth for our current and future customers. This may involve expanding into countries and regions other than those in which we currently operate and where we are less familiar with local regulations, environment and procedures. For example, we may expand our operations into markets in Southeast Asia (including Thailand, Malaysia, and Indonesia), the United States, Europe, China, the United Kingdom, Australia and the Gulf Cooperation Council (GCC) countries. These regions and countries may have different cost structures, labor conditions, regulations and socioeconomic dynamics that may affect our results of operations. As we expand our business into new countries and regions, we may encounter economic, regulatory, personnel, technological and other difficulties that would increase our expenses, or delay our ability to commence our operations or become profitable 22 in such countries and regions. For example, recruiting and training local talent in new countries as well as ensuring compliance with local regulations and standards may be challenging. Any difficulty in the implementation of our global