Company: OTSA
Filing Date: 2025-06-09
Form Type: F-1
Source: 0001213900-25-052720
Chunk: 145

Company: OTSAW Ltd
Filing Date: 2025-06-09
Form: F-1
Chunk 145
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30, 2024 would result in a decrease of US$30,621 against our shareholders’ equity accordingly. We consider that the overall foreign exchange risk is not significant, and we have not used any instruments or derivatives to manage or hedge the risk. Concentration of credit risk Financial instruments that potentially subject us to the credit risks consist of cash and cash equivalents, trade and other receivables. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. We deposit our cash and cash equivalents in various commercial banks in the Singapore, United States and Germany. As of April 30, 2024, most of cash and cash equivalents was deposited with banks in Singapore. Balances maintained with banks in Singapore are insured under the Deposit Insurance Scheme introduced by the Singapore Deposit Insurance Corporation Limited. The maximum insured amount was SGD 75,000 (equivalent to US$55,098) until March 31, 2024, after which it was increased to SGD 100,000 (equivalent to $73,464) commenced from April 1, 2024, whilst the balances maintained by us may at times exceed the insured limits. Cash balances maintained with banks in Singapore are not otherwise insured by the Federal Deposit Insurance Corporation or other programs. We have not experienced any losses in these bank accounts and we believe that we are not exposed to any significant credit risk on cash and cash equivalents. Assets that potentially subject us to a significant concentration of credit risk primarily consist of trade and other receivables. We perform regular and ongoing credit assessments of the counterparts’ financial conditions and credit histories. We also assess historical collection, aging of receivables and general economic conditions. We consider that we have adequate controls over these receivables in order to minimize the related credit risk. As of April 30, 2024 and 2023, no expected credit loss allowance was provided for trade and other receivables. Credit loss of US$156,692 is recorded for the period ending Oct 24. Interest rate risk Fluctuations in market interest rates may negatively affect our financial condition and results of operations. We are exposed to floating interest rate risk on bank deposits, particularly during periods when the interest rate is expected to have significant changes. Nevertheless, given the amounts of bank deposits in question, we consider our interest rate risk to be not material, and we have not used any derivatives to manage or hedge our interest rate risk exposure. Off-Balance Sheet Commitments and Arrangements We have not entered