Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 9

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 9
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 As such, we may be forced to pay unattractive interest rates, thereby increasing our interest expense, decreasing our
profitability and reducing our financial flexibility if we take on additional debt financing. Any material increase in interest rates
would also increase our cost of borrowing and debt financing costs, which may weaken our ability to obtain further future debt financing.

Further,
debt financing may restrict our freedom to operate our business as it may require conditions and/or covenants that:

  limit our ability to pay dividends                                                                                                  
  require us to dedicate a portion of our cash flow from                                                                              
  limit our flexibility in planning for, or reacting                                                                                  

We
are dependent on our ability to retain existing senior management personnel and to attract new qualified management personnel.

Our
continued success is highly dependent on our ability to retain our senior management personnel, who are responsible for key aspects of
our business, including but not limited to maintaining customer relationships, developing new business opportunities, finance and project
management. If any of our key management personnel cease to be involved with our Group in the future and we are unable to find suitable
replacements in a timely manner, this may cause disruptions to our business operations and our business, financial condition, results
of operations and prospects may be adversely affected.

The
success and growth of our Group also depend on our ability to identify, hire, train and retain suitable, skilled and qualified key management
personnel. If we are unable to hire and retain employees from different sectors apart from the facilities management industry, such as
hires with technology, finance, human resources and business development capabilities, our ability to build up our key management personnel
team may be limited to a certain extent.

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  Table of Contents  

The
appeal of our services is reliant, to some extent, on maintaining and protecting the brand names and trademarks in our business.

Our
business is sensitive to customer perception of the quality of our services and products. In the event of any misuse of our brand and/or
trademarks (which may include misuse by our sub-contractors, our employees or unrelated third parties), or in the event we fail to detect,
deter and prevent trademark, related misconduct, or otherwise fail to effectively protect our brand and/or trademarks, our reputation
could be damaged, resulting in our business, financial condition, results of operations and prospects being materially and adversely
affected.

We
are exposed to risks of infringement of our intellectual property rights and the unauthorized use of our trademarks, patents or