Company: OTSA
Filing Date: 2025-03-26
Form Type: DRS/A
Source: 0001013762-25-002776
Chunk: 289

Company: OTSAW Ltd
Filing Date: 2025-03-26
Form: DRS/A
Chunk 289
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 |
|                                       |     |    USD |     |    USD |
| Interest expense on lease liabilities |     | 44,006 |     | 28,503 |

20.Loan from related parties

|                           |     |      2024 |     |       2023 |
|                           |     |       USD |     |        USD |
| Loan from related parties |     |   411,665 |     |  9,459,541 |
| Director                  |     | 6,277,151 |     |  1,781,615 |
|                           |     | 6,688,816 |     | 11,241,156 |

Director loans bears interest at 12% per annum from 1 May 2023, previous to this the interest rate was 6% per annum. In the prior year, the Company obtained funds from Ararrat Capital Pte. Ltd., a company owned by director. The loan is unsecured, bears interest at 6% per annum and repayable on demand. During the year, USD8,746,280 related party loans were converted to share capital (Note 15). 21.Significant related party transactions A related party is defined as follows: (a)A person or a close member of that person’s family is related to the Group and Company if that person: (i)Has control or joint control over the Company; (ii)Has significant influence over the Company; or (iii)Is a member of the key management personnel of the Company or of a parent of the Company. (b)An entity is related to the Group and the Company if any of the following conditions applies: (i)The entity and the Company are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others); (ii)One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a Company of which the other entity is a member); (iii)Both entities are joint ventures of the same third party; (iv)One entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v)The entity is a post -employmentbenefit plan for the benefit of employees of either the Company or an entity related to the Company. If the Company is itself such a plan, the sponsoring employers are also related to the Company; (vi)The entity is controlled or jointly controlled by