# EDGAR Filing Document

**Accession Number:** 0002092287
**File Stem:** 0001493152-26-029522
**Filing Date:** 2026-6
**Character Count:** 1016293
**Document Hash:** 26d2c2cf8ea1c7fb2677ce1f1fb4d5fd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-029522.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001493152-26-029522

**CONFORMED SUBMISSION TYPE**: F-1/A

**PUBLIC DOCUMENT COUNT**: 25

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 3 KNIGHTS DYNAMICS GROUP Ltd
- **CENTRAL INDEX KEY:** 0002092287
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** F-1/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296009
- **FILM NUMBER:** 261105584

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** UNIT 19-2,THE BOULEVARD,MID VALLEY CITY
- **STREET 2:** LINGKARAN SYED PUTRA,WILAYAH PERSEKUTUAN
- **CITY:** KUALA LUMPUR
- **PROVINCE COUNTRY:** N8
- **ZIP:** 59200
- **BUSINESS PHONE:** 60 129682927

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** UNIT 19-2,THE BOULEVARD,MID VALLEY CITY
- **STREET 2:** LINGKARAN SYED PUTRA,WILAYAH PERSEKUTUAN
- **CITY:** KUALA LUMPUR
- **PROVINCE COUNTRY:** N8
- **ZIP:** 59200

**As filed with the United States Securities and Exchange Commission on June 22, 2026.** 

**Registration No. 333-296009** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 **Amendment No. 1 to**

**FORM F-1**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**3Knights Dynamics Group Limited**

(Exact Name of Registrant as Specified in its Charter)

**Not Applicable**

(Translation of Registrant's Name into English)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **7371** | **Not Applicable** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification No.) |

---

Unit 19-2,

The Boulevard, Mid Valley City

Lingkaran Syed Putra,

59200 Kuala Lumpur,

Wilayah Persekutuan Kuala Lumpur, Malaysia

**+60 3-9779 0946**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**COGENCY GLOBAL INC.**

**122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor**

**New York, NY 10168**

**+1-800-221-0102**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copies of all communications, including communications sent to agent for service, should be sent to:

---

| | |
|:---|:---|
| **Lawrence S. Venick, Esq.**<br> **Loeb & Loeb LLP**<br>**10100 Santa Monica Boulevard Suite 2200** <br> **Los Angeles, CA 90067** <br> **Los Angeles, United States**<br>**Telephone: +1 (310) 728-5129** | **Guillaume de Sampigny, Esq.**<br> **Ying Li, Esq.**<br> **Hunter Taubman Fischer & Li LLC**<br> **950 Third Avenue, 19<sup>th</sup> Floor**<br> **New York, NY 10022**<br> **Telephone: +1 212-530-2230** |

---

**Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective.**

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

**Emerging growth company. ☒**

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the U.S. Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

*The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the United States Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.*

*PRELIMINARY PROSPECTUS* *Subject to Completion, Dated June 22, 2026* 

**3Knights Dynamics Group Limited**

**5,000,000** **Class A Ordinary Shares**

This is the initial public offering of the Class A ordinary shares of 3Knights Dynamics Group Limited (the "Company"). Prior to this Offering, there has been no public market for our Class A ordinary shares, par value US$0.0001 per share (the "Class A Ordinary Share(s)", together with our Class B Ordinary Shares as defined below, the "Ordinary Share(s)"). It is currently estimated that the initial public offering price per share will be between $4 and $5.

We intend to reserve the symbol "TKDG" for purposes of listing our Class A Ordinary Shares on the Nasdaq Capital Market ("Nasdaq") and have applied to list our Class A Ordinary Shares on the Nasdaq. At this time, Nasdaq has not yet approved our application to list our Class A Ordinary Shares. The closing of this Offering is conditional upon Nasdaq's final approval of our listing application, and there is no guarantee or assurance that our Class A Ordinary Shares will be approved for listing on Nasdaq.

The Company is an exempt company incorporated in the Cayman Islands with limited liability as a holding company and with no material operations of its own. The Company conducts its operations through 3 Knights, its operating subsidiary in Malaysia. The Class A Ordinary Shares offered in this prospectus are shares of the Cayman Islands holding company instead of shares of its operating subsidiary in Malaysia. Holders of our Class A Ordinary Shares do not directly own any equity interests in our subsidiary, but will instead own shares of a Cayman Islands holding company.

Upon completion of this Offering, we will have a dual class ordinary share structure. Our Ordinary Shares will be divided into Class A Ordinary Shares and Class B Ordinary Shares (the "Class B Ordinary Share(s)"), par value US$0.0001 per share. Holders of Class A and Class B Ordinary Shares will have the same rights, including dividend rights, except that holders of Class A Ordinary Shares will be entitled to one vote per share, while holders of Class B Ordinary Shares will be entitled to twenty votes per share, and Class B Ordinary Shares may be converted into the same number of Class A Ordinary Shares by the holders thereof at any time, while Class A Ordinary Shares cannot be converted into Class B Ordinary Shares under any circumstances. See "Description of Share Capital" for more details regarding our Class A Ordinary Shares and Class B Ordinary Shares.

Upon completion of this Offering, our issued and outstanding Ordinary Shares will consist of 28,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, assuming the underwriters do not exercise their over-allotment option to purchase additional Class A Ordinary Shares, or 28,750,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, assuming the over-allotment option is exercised in full.

We will be a "controlled company" as defined under the Nasdaq Stock Market Rules because, immediately after this Offering, assuming an offering size as set forth above. WLG Holdings Sdn. Bhd., our Controlling Shareholder, will own 15,800,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, being approximately 59.33% of our total and issued outstanding Ordinary Shares, representing approximately 82.06% of our total voting power (or approximately 57.89% of our total and issued outstanding Shares, representing approximately 81.16% of our total voting power if the underwriters option to purchase additional Class A Ordinary Shares is exercised in full), and may have the ability to determine matters requiring approval by shareholders. As a result, our Controlling Shareholder will have the ability to control the outcome of certain matters submitted to shareholders for approval through its controlling ownership of the Company, such as the election of directors, amendments to our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. See "Risk Factors — Risks Related to our Class A Ordinary Shares — Our Controlling Shareholder has significant voting power and may take actions that may not be in the best interests of our other shareholders" for further information. However, even if we are deemed as a "controlled company," we do not intend to avail ourselves of the corporate governance exemptions afforded to a "controlled company" under the Nasdaq Stock Market Rules. See "Risk Factors — Risks Related to our Class A Ordinary Shares — We are a "controlled company" within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders."

 ****

We have historically conducted our business through our operating subsidiary in Malaysia, but in advance of the listing, we engaged in the Reorganization described in "Our Corporate Structure and History" pursuant to which such operating subsidiary has become subsidiary of the Company.

Investing in the shares involves risks. See section titled "Risk Factors" of this prospectus.

We are both an "emerging growth company" and a "foreign private issuer" under applicable U.S. Securities and Exchange Commission rules and will be eligible for reduced public company disclosure requirements. See section titled "Prospectus Summary — Implications of Being an 'Emerging Growth Company' and a 'Foreign Private Issuer'" for additional information.

**Neither the U.S. Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

**Investing in our Class A Ordinary Shares involves a high degree of risk, including the risk of losing your entire investment. See "Risk Factors" beginning on page 14 of this prospectus to read about factors you should consider before buying our Class A Ordinary Shares.**

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Share** | **Total Without**<br> **Exercise of**<br> **Over-Allotment**<br> **Option** | **Total With Full**<br> **Exercise of**<br> **Over-Allotment**<br> **Option** |
| Initial public offering price | $[\*] | $[\*] | $[\*] |
| Underwriting discounts to be paid by us *(1)* | $[\*] | $[\*] | $[\*] |
| Proceeds, before expenses, to us | $[\*] | $[\*] | $[\*] |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Represents a 7.0% underwriting discount payable to the underwriters. Does not include a non-accountable expense allowance equal to 1% of the gross proceeds of this Offering payable to Network 1 Financial Securities, Inc., the representative of the underwriters, or the Representative. We have also agreed to issue warrants to the Representative, or the Representative's Warrants, to purchase a number of Class A Ordinary Shares equal to 7.5% of the Class A Ordinary Shares sold by us in this Offering. The Representative's Warrants will be exercisable at an exercise price per Class A Ordinary Share equal to 125% of the public offering price and are exercisable for a period of five (5) years and will terminate on the fifth anniversary of the date of the commencement of sales of this Offering. For a description of compensation payable to the underwriters, see "Underwriting" in this prospectus.* 

 ****

We expect our total cash expenses for this Offering (including cash expenses payable to our underwriters for their out-of-pocket expenses) to be approximately $[\*], exclusive of the above discounts. These payments will further reduce proceeds available to us before expenses. See "Underwriting."

This offering is being conducted on a firm commitment basis. The underwriters are obligated to take and pay for all of the shares if any such shares are taken. We have granted the underwriters an option for a period of forty-five (45) days after the closing of this Offering to purchase up to 15% of the total number of Class A Ordinary Shares offered by us pursuant to this Offering (excluding shares subject to this option), solely for the purpose of covering over-allotments, at the initial public offering price less the underwriting discounts. If we complete this Offering, net proceeds will be delivered to us on the closing date.

The underwriters expect to deliver the shares to purchasers against payment on [\*], 2026.

![](formdrsa_001.jpg)

**Prospectus dated [\*], 2026**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [PROSPECTUS SUMMARY](#Aa_001) | 1 |
| [THE OFFERING](#Aa_002) | 12 |
| [SUMMARY FINANCIAL INFORMATION](#Aa_003) | 13 |
| [RISK FACTORS](#Aa_004) | 14 |
| [SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS](#Aa_005) | 34 |
| [USE OF PROCEEDS](#Aa_006) | 36 |
| [DIVIDEND POLICY](#Aa_007) | 37 |
| [CAPITALIZATION](#Aa_008) | 38 |
| [DILUTION](#Aa_009) | 39 |
| [SELECTED FINANCIAL AND OPERATING DATA](#Aa_010) | 40 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#Aa_011) | 41 |
| [OUR CORPORATE STRUCTURE AND HISTORY](#Aa_012) | 59 |
| [BUSINESS](#N_001) | 60 |
| [REGULATIONS](#N_002) | 70 |
| [MANAGEMENT](#N_003) | 72 |
| [PRINCIPAL SHAREHOLDERS](#N_004) | 78 |
| [RELATED PARTY TRANSACTIONS](#N_005) | 80 |
| [DESCRIPTION OF SHARE CAPITAL](#N_006) | 80 |
| [SHARES ELIGIBLE FOR FUTURE SALE](#sk_001) | 88 |
| [EXCHANGE CONTROLS AND LIMITATIONS AFFECTING SHAREHOLDERS](#sk_002) | 90 |
| [TAXATION](#sk_003) | 92 |
| [UNDERWRITING](#sk_004) | 99 |
| [EXPENSES OF THE OFFERING](#sk_005) | 109 |
| [LEGAL MATTERS](#sk_006) | 110 |
| [EXPERTS](#sk_007) | 110 |
| [ENFORCEMENT OF CIVIL LIABILITIES](#sk_008) | 111 |
| [WHERE YOU CAN FIND MORE INFORMATION](#sk_009) | 112 |
| [INDEX TO COMBINED FINANCIAL STATEMENTS](#sk_010) | F-1 |
| [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#me_001) | F-2 |

---

For investors outside the United States: neither we nor the underwriters have done anything that would permit this Offering or possession or distribution of this prospectus in any jurisdiction, other than the United States, where action for that purpose is required. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares and the distribution of this prospectus outside the United States.

**Neither we nor the underwriters have authorized anyone to provide you with any information or to make any representations other than those contained in this prospectus, any amendment or supplement to this prospectus, or in any free writing prospectus we have prepared, and neither we nor the underwriters take responsibility for, and can provide no assurance as to the reliability of, any other information others may give you. Neither we nor the underwriters are making an offer to sell, or seeking offers to buy, these securities in any jurisdiction where the offer or sale is not permitted. The information contained in this prospectus is accurate only as of the date on the cover page of this prospectus, regardless of the time of delivery of this prospectus or the sale of shares. Our business, financial condition, results of operations and prospects may have changed since the date on the cover page of this prospectus.**

i

**PROSPECTUS SUMMARY**

*This summary highlights selected information contained elsewhere in this prospectus. This summary does not contain all of the information that you should consider before investing in our Shares. For a more complete understanding of us and this Offering, you should read and carefully consider the entire prospectus, including the more detailed information set forth under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our combined financial statements and the related notes. Some of the statements in this prospectus are forward-looking statements. See section titled "Special Note Regarding Forward-Looking Statements."*

**Presentation of Financial Information**

We have historically conducted our business through our subsidiary in Malaysia. 3Knights Dynamics Group Limited has not commenced operations and has nominal assets and liabilities. Therefore, our historical consolidated financial statements present the financial position and results of operations of our operating subsidiary in Malaysia on a consolidated basis. Following the Reorganization, our financial statements presents the financial position and results of operations of 3Knights Dynamics Group Limited and its consolidated subsidiary.

**Our Business**

We are a big data solutions provider headquartered in Kuala Lumpur, Malaysia using AI, analytics, and real-time insights. We started our operations in 2021 to provide technology consulting and analytics services in the areas of digital transformation, data analytics, and marketing strategy alignment, and have developed relationships with our customers, mainly located in Malaysia.

The Company principally offers (i) digital transformation strategy consulting services, (ii) data analytics services, and (iii) marketing strategy alignment services. The Company began delivering customized projects for enterprise clients across industries such as trading, manufacturing, retail and e-commerce. These engagements typically involved client-specific integration work and analytics delivery.

For more information, See *"Business."*

 

**Our Competitive Strengths**

We believe our main competitive strengths are as follows:

● We have an experienced management team with proven track record for execution and agility in delivery;

● Our customer base spans a diverse array of industries and organizations; and

● We offer comprehensive solutions customized to the needs of business owners and local markets with integrated service scope.

For more information, see "*Business – Our Competitive Strengths*."

**Our Business Strategies and Future Plans**

Our business strategies and future plans are as follows:

● Expand into strategic overseas markets;

● Diversify the service portfolio and enhance service model; and

● Increase investment in internal capabilities.

For more information, see "*Business – Our Strategies and Future Plans*."

**Summary Risk Factors**

Our prospectus should be considered in light of the risks, uncertainties, expenses, and difficulties frequently encountered by similar companies. Below please find a summary of the principal risks we face, organized under relevant headings. These risks are discussed more carefully in the section titled "*Risk Factors*" beginning on page 14.

***Risks Related to Our Business and Industry***

● The project-based nature of our business and/or the timing of delivery may lead to fluctuations in our revenue, profit and operating cash flow.

● We had a concentration of credit risk because we derived our service income from a limited number of customers.

● We are exposed to risks related to concentration of suppliers as we rely on a few major suppliers, and such concentration may have a material adverse effect on our business and results of operations.

● We are dependent on our directors and business unit heads for continued success and growth of our business.

● We are affected by the availability of suitable talent in the market.

● We may fail to maintain and grow our customer base or keep our customers engaged through our services.

● We may face increasing competition which may affect our ability to retain existing customers or expand existing customer usage of our solutions.

● We may not accurately predict the adoption of our solutions, or any resulting impact on our revenues or operating results.

● We may not be successful in effectively promoting our brand, and any negative publicity may harm our brands and the specific services we provide.

● We may incur net losses and net operating cash outflows in the future.

● We may be involved in certain legal proceedings from time to time. Any adverse decision arising from such proceedings may render us liable to liabilities and may adversely affect our business, financial condition, results of operations, cash flows and prospects.

● We may need additional capital but may not be able to obtain it on favorable terms or at all.

● We do not maintain insurance coverage

● If we or our third-party vendors with whom we work with sustain a cyberattack or suffer private or data security breaches that disrupt our information systems or operations or result in the dissemination of sensitive personal data or confidential information, we could suffer increased costs, exposure to significant liability, adverse regulatory consequences, reputational harm, loss of business, and other serious negative consequences.

● We are exposed to credit risk, late and default payments by customers.

● Our deliverables are exposed to unexpected delays, interruptions or contract termination caused by operational factors, accidents and natural disasters beyond our control.

● We face risks related to natural disasters, health epidemics, macroeconomic factors and other uncontrollable events, which could significantly disrupt our operations.

&nbsp;&nbsp;&nbsp;&nbsp;

● We face risks of not adapting quickly to the latest technological developments.

● We are exposed to risks relating to the economic, political, legal and regulatory environments in Malaysia.

● If we pursue strategic acquisitions or joint ventures, we may be unable to successfully consummate favorable transactions or successfully integrate acquired businesses.

● We intend to utilize a portion of the net proceeds from this Offering for business expansion but may face problems in the implementation of such expansion plans and the actual capital expenditure necessary for such expansion may significantly exceed our budgets or we may be unable to maximize returns from the capital expenditure.

● If we are unable to raise additional capital, our business prospects could be adversely affected.

● Changes in international trade policies, tariffs and treaties affecting imports and exports may have a material adverse effect on our business, operations, and financial performance.

● The wars in Ukraine and in the Middle East may materially and adversely affect our business and results of operations.

● Our management team lacks experience in managing a U.S. public company and complying with laws applicable to such company, the failure of which may adversely affect our business, financial condition and results of operations.

***Risks Related to Doing Business in Malaysia***

● Developments in the social, political, regulatory and economic environment in Malaysia may have a material adverse impact on us.

● We are subject to foreign exchange control policies in Malaysia.

● Economic, market and political developments in the countries where we operate could have a material and adverse effect on our business.

● We may be exposed to liabilities under applicable anti-corruption laws and any determination that we violated these laws could have a materially adverse effect on our business.

● We are subject to work variations due to changes in laws and regulations in Malaysia.

 ****

***Risks Related to Our Class A Ordinary Shares***

● An active trading market for our Ordinary Shares may not develop and could affect the trading price of our Ordinary Shares.

● Our Class A Ordinary Shares price may never trade at or above the price in this Offering.

● The initial public offering price for our Class A Ordinary Shares may not reflect their actual value.

● Our share price may fluctuate significantly in the future and you may lose all or part of your investment, and litigation may be brought against us.

● Certain recent initial public offerings of companies with public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our Class A Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;

● Investors in our Class A Ordinary Shares likely will face immediate and substantial dilution in the net tangible book value per share and may experience future dilution.

● We may have conflicts of interest with our Controlling Shareholder and, because of our Controlling Shareholder's significant ownership interest in our company, we may not be able to resolve such conflicts on terms favorable to us.

● We are a "controlled company" within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders.

● Our Class A Ordinary Shares may trade under $4.00 per share and thus would be known as "penny stock". Trading in penny stocks has certain restrictions and these restrictions could negatively affect the price and liquidity of our Class A Ordinary Shares.

● We may require additional funding in the form of equity or debt for our future growth which will cause dilution in Shareholders' equity interest.

● Investors may not be able to participate in future issues or certain other equity issues of our Class A Ordinary Shares.

● We have no immediate plans to pay dividends.

● If we fail to meet applicable listing requirements, including those under Nasdaq's recently proposed rule changes, Nasdaq may delist our Class A Ordinary Shares from trading, in which case the liquidity and market price of our Class A Ordinary Shares could decline.

● We will incur significant expenses and devote other significant resources and management time as a result of being a public company, which may negatively impact our financial performance and could cause our results of operations and financial condition to suffer.

● If we fail to maintain an effective system of disclosure controls and internal controls over financial reporting, our ability to timely produce accurate financial statements or comply with applicable regulations could be impaired.

● Investors may have difficulty enforcing judgments against us, our directors and management.

● The laws of the Cayman Islands relating to the protection of the interest of minority shareholders are different from those in the United States.

● We are an emerging growth company within the meaning of the Securities Act and may take advantage of certain reduced reporting requirements.

● We qualify as a foreign private issuer and, as a result, we will not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that permit less detailed and less frequent reporting than that of a U.S. domestic public company.

● We may lose our foreign private issuer status in the future, which could result in significant additional costs and expenses.

● We do not expect to be subject to certain Nasdaq corporate governance rules applicable to U.S. listed companies.

&nbsp;&nbsp;&nbsp;&nbsp;

● There can be no assurance that we will not be a passive foreign investment company, or PFIC, for United States federal income tax purposes for any taxable year, which could subject United States investors in the Ordinary Shares to significant adverse United States income tax consequences.

● We have broad discretion in the use of the net proceeds from this Offering and may not use them effectively.

● We may regularly encounter potential conflicts of interest, and our failure to identify and address such conflicts of interest could adversely affect our business.

● If securities or industry analysts do not publish research or reports about our business, or if the publish a negative report regarding our Class A Ordinary Shares, the price of our Class A Ordinary Shares and trading volume could decline.

● Our dual-class voting structure may render our Class A Ordinary Shares ineligible for inclusion in certain stock market indices, and thus adversely affect the trading price and liquidity of our Class A Ordinary Shares.

● Our dual-class voting structure will limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that holders of our Class A Ordinary Shares may view as beneficial.

● Transfers of our Class B Ordinary Shares could result in a change of control without a premium being paid to holders of our Class A Ordinary Shares.

● Our Controlling Shareholder has substantial influence over the Company. Its interests may not be aligned with the interests of our other shareholders, and it could prevent or cause a change of control or other transactions.

**Our Corporate Structure and History**

We commenced operations with the establishment of 3Knights Dynamics Sdn. Bhd. ("3Knights") in 2021. After giving effect to the Reorganization, 3Knights became a wholly-owned subsidiary of 3Knights Dynamics Group Limited, our Cayman Islands holding company (the "Company") incorporated on October 8, 2025 to act as the parent entity upon the consummation of the Reorganization and as the issuer for this Offering.

The following diagram illustrates the ownership structure of the Company after giving effect to this Offering (assuming no exercise by the underwriters of their over-allotment option):

![](formf-1_002.jpg)

We will be a "controlled company" as defined under the Nasdaq Stock Market Rules because, immediately after this Offering, assuming an offering size as set forth above, our Controlling Shareholder will own 15,800,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, being approximately 59.33% of our total and issued outstanding Shares, representing approximately 82.06% of our total voting power (or approximately 57.89% of our total and issued outstanding Shares, representing approximately 81.16% of our total voting power, if the underwriters option to purchase additional Class A Ordinary Shares is exercised in full), and may have the ability to determine matters requiring approval by shareholders. As a result, our Controlling Shareholder will have the ability to control the outcome of certain matters submitted to shareholders for approval through its controlling ownership of the Company, such as the election of directors, amendments to our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. See "Risk Factors — Risks Related to our Class A Ordinary Shares — Our Controlling Shareholder has significant voting power and may take actions that may not be in the best interests of our other shareholders" for further information. However, even if we are deemed as a "controlled company," we do not intend to avail ourselves of the corporate governance exemptions afforded to a "controlled company" under the Nasdaq Stock Market Rules. See "Risk Factors — Risks Related to our Class A Ordinary Shares — We are a "controlled company" within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders."

**Corporate Information**

Our registered office in the Cayman Islands is located at the offices of c/o Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands, and the phone number of our registered office is +60 3-9779 0946. Our principal place of business is Unit 19-2, The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor, New York, NY 10168. Our corporate website is tkdglimited.com. Information contained on our website does not constitute part of this prospectus.

**Implications of Being an "Emerging Growth Company" and a "Foreign Private Issuer"**

As a company with less than $1.235 billion in revenue during our most recently completed fiscal year, we qualify as an "emerging growth company" as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act. As an emerging growth company, we may take advantage of certain reduced disclosure and requirements that are otherwise applicable generally to U.S. public companies that are not emerging growth companies. These provisions include:

● the option to include in an initial public offering registration statement only two years of audited financial statements and selected financial data and only two years of related disclosure;

● reduced executive compensation disclosure; and

● an exemption from the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley Act") in the assessment of our internal control over financial reporting.

The JOBS Act also permits an emerging growth company, such as us, to delay adopting new or revised accounting standards until such time as those standards are applicable to private companies. We have not elected to "opt out" of this provision, which means that when a standard is issued or revised and it has different application dates for public or private companies, we will have the discretion to adopt the new or revised standard at the time private companies adopt the new or revised standard and Our discretion will remain until such time that we either (i) irrevocably elect to "opt out" of such extended transition period or (ii) no longer qualify as an emerging growth company.

We will remain an emerging growth company until the earliest of:

● the last day of our fiscal year during which we have total annual revenue of at least $1.235 billion;

● the last day of our fiscal year following the fifth anniversary of the closing of this Offering;

● the date on which we have, during the previous three-year period, issued more than $1.0 billion in non-convertible debt securities; or

● the date on which we are deemed to be a "large accelerated filer" under the Exchange Act, which, among other things, would occur if the market value of our Shares that are held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter.

We have taken advantage of reduced reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information you receive from other public companies.

In addition, upon closing of this Offering, we will report under the Exchange Act as a "foreign private issuer." As a foreign private issuer, we may take advantage of certain provisions under the Nasdaq rules that allow us to follow Cayman Islands law for certain corporate governance matters. Even after we no longer qualify as an emerging growth company, as long as we qualify as a foreign private issuer under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including but not limited to:

● the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act;

● the sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability for insiders who profit from trades made in a short period of time. However, effective March 18, 2026, our executive officers and directors are required, pursuant to the Holding Foreign Insiders Accountable Act, to file Section 16(a) reports with the SEC to disclose their beneficial ownership of our securities. Our principal shareholders who are not officers or directors remain exempt from Section 16(a) reporting requirements;

● the rules under the Exchange Act requiring the filing with the Securities and Exchange Commission of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8-K, upon the occurrence of specified significant events; and

● Regulation Fair Disclosure ("Regulation FD"), which regulates selective disclosures of material information by issuers.

We may take advantage of these exemptions until such time as we are no longer a foreign private issuer. We are required to determine our status as a foreign private issuer on an annual basis at the end of our second fiscal quarter. We would cease to be a foreign private issuer at such time as more than 50% of our outstanding voting securities are held by U.S. residents and any of the following three circumstances apply :

● the majority of our executive officers or directors are U.S. citizens or residents;

● more than 50% of our assets are located in the United States; or

● our business is administered principally in the United States.

**Implications of being a controlled company**

Controlled companies are exempt from the majority of independent director requirements. Controlled companies are subject to an exemption from Nasdaq standards requiring that the board of a listed company consist of a majority of independent directors within one year of the listing date.

Public Companies that qualify as a "controlled company" with securities listed on the Nasdaq, must comply with the exchange's continued listing standards to maintain their listings. Nasdaq has adopted qualitative listing standards. Companies that do not comply with these corporate governance requirements may lose their listing status. Under the Nasdaq rules, a "controlled company" is a company with more than 50% of its voting power held by a single person, entity or group. Under Nasdaq rules, a "controlled company" is exempt from certain corporate governance requirements including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that a majority of the board of directors consist of independent directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that a listed company have a nominating and governance committee that is composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that a listed company have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement for an annual performance evaluation of the nominating and governance committee and compensation committee.

Controlled companies must still comply with the exchange's other corporate governance standards. These include having an audit committee and the special meetings of independent or non-management directors.

Upon completion of this Offering, the outstanding shares of the Company will consist of 28,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, assuming the underwriters do not exercise their over-allotment option to purchase additional Class A Ordinary Shares, or 28,750,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, assuming the over-allotment option is exercised in full. Immediately after completion of this Offering, our Controlling Shareholder will own approximately 59.33% of our total issued and outstanding Ordinary Shares, representing approximately 82.06% of the total voting power, assuming that the underwriters do not exercise their over-allotment option, or approximately 57.89% of our total issued and outstanding Ordinary Shares, representing approximately 81.16% of the total voting power, assuming that the over-allotment option is exercised in full. As a result, we will be a "controlled company" as defined under Nasdaq Listing Rule 5615(c) because our Controlling Shareholder will hold more than 50% of the voting power for the election of directors, and our Controlling Shareholder may have the ability to determine matters requiring approval by shareholders. As a "controlled company", we are permitted to elect not to comply with certain corporate governance requirements. We do not plan to rely on these exemptions, but we may elect to do so after we complete this Offering. If we elected to rely on the "controlled company" exemptions, a majority of the members of our board of directors might not be independent directors, our nominating and corporate governance and compensation committees might not consist entirely of independent directors upon closing of the offering, and you would not have the same protection afforded to shareholders of companies that are subject to Nasdaq's corporate governance rules.

**Conventions Which Apply to this Prospectus**

Throughout this prospectus, we use a number of key terms and provide a number of key performance indicators used by management. Unless the context otherwise requires, the following definitions apply throughout where the context so admits:

**Other Companies, Organizations and Agencies**

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| | | |
|:---|:---|:---|
| ***"Independent Registered Public Accounting Firm"*** | : | WS & CO PLT |
| ***"Underwriters"*** | : | The underwriters for the Offering, of which Network 1 Financial Securities, Inc. is serving as the representative. |

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**General**

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| | |
|:---|:---|
| ***"3Knights" or "operating subsidiary"*** | 3KNIGHTS DYNAMICS SDN. BHD., the wholly-owned operating subsidiary of the Company upon completion of the Reorganization |
| ***"articles of association"*** | The articles of association of our Company which was adopted on October 8, 2025. |
| ***"Audit Committee"*** | The audit committee of our Board of Directors. |
| ***"Board" or "Board of Directors"*** | The Board of Directors of our Company. |
| ***"Class A Ordinary Share(s)"*** | Class A ordinary share(s) of our Company, with a par value of US$0.0001 per share. |
| ***"Class B Ordinary Share(s)"*** | Class B ordinary share(s) of our Company, with a par value of US$0.0001 per share. |
| ***"Clear Day" or "clear day"*** | Has the meaning given to that term in the articles of association of the Company. |
| ***"Companies Act"*** | The Companies Act (Revised) of the Cayman Islands. |
| ***"Company"*** | 3Knights Dynamics Group Limited, a Cayman Islands exempted company. |
| ***"Compensation Committee"*** | The compensation committee of our Board of Directors. |
| ***"Controlling Shareholder"*** | WLG Holdings Sdn. Bhd., which beneficially owns an aggregate of 17,800,000 Ordinary Shares, including 15,800,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, which will represent approximately 59.33% of the total issued and outstanding Ordinary Shares, representing approximately 82.06% of the total voting power, immediately after the completion of this Offering, assuming the underwriters do not exercise their over-allotment option. WLG Holdings Sdn. Bhd. is owned as to 50% each by Mr. Chu Hoon Weng, our Director and Chief Executive Officer, and Mr. Lim Seow Leong, our Director and Chief Technology Officer |
| ***"Director(s)"*** | The director(s) of our Company. |
| ***"Executive Officers"*** | The executive officers of our Company. See section titled "*Management*." |
| ***"Fiscal Year"*** *or **"FY"*** | Financial year ended or, as the case may be, ending August 31. |
| ***"GAAP"*** *or **"U.S. GAAP"*** | Accounting principles generally accepted in the United States of America |
| ***"Group"*** | Our Company and our subsidiary. |
| ***"IASB"*** | International Accounting Standards Board |
| ***"IFRS"*** | International Financial Reporting Standards |
| ***"IoT"*** | The Internet of Things. |
| ***"Listing"*** | The listing and quotation of our Class A Ordinary Shares on Nasdaq. |

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| | |
|:---|:---|
| ***"Malaysia"*** | The country of Malaysia. |
| ***"memorandum and articles of association"*** | The memorandum and articles of association of our Company which was adopted on October 8, 2025. |
| ***"Nasdaq"*** | The Nasdaq Stock Market LLC. |
| ***"Nasdaq Listing Rules"*** | The Nasdaq rules governing listed companies. |
| ***"Nominating and Corporate Governance Committee"*** | The nominating and corporate governance committee of our Board of Directors. |
| ***"Offering***  ***Price"*** | Between US$4 to US$5 for each Class A Ordinary Share being offered in this Offering. |
| ***"Offering"*** | The Offering of Class A Ordinary Shares by the Underwriter on behalf of our Company for subscription at the Offering Price, subject to and on the terms and conditions set out in this prospectus. |
| ***"ordinary resolution"*** | A resolution passed by a simple majority of the shareholders as, being entitled to do so, vote in person or by proxy at a general meeting of our Company and includes a written resolution signed by the requisite majority in accordance with the articles of association. |
| ***"Share(s)," or "Ordinary Share(s)"*** | Both Class A Ordinary Share(s) and Class B Ordinary Share(s). |
| ***"Shareholders"*** | Registered holders of Shares. |
| ***"special resolution"*** | A resolution passed by at least two-thirds of the shareholders as, being entitled to do so, vote in person or by proxy at a general meeting of our Company and includes a unanimous written resolution. |
| ***"Underwriting Agreement"*** | The underwriting agreement dated [\*], 2026 entered into between our Company and Network 1 Financial Securities, Inc., pursuant to which the Underwriters have agreed to purchase, and we have agreed to sell to them, 750,000 of our Class A Ordinary Shares at the Offering Price, less underwriting discounts, as described in the sections titled "*Underwriting*" of this prospectus. |

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**Currencies, Units and Others**

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| | |
|:---|:---|
| ***"Malaysian Ringgit," RM"*** *or **"Ringgit"*** | The legal currency of Malaysia. |
| ***"US$," "US dollars," "USD" or "$"*** | U.S. dollars and cents respectively, the lawful currency of the U.S. |
| ***"%" or "per cent."*** | Per centum. |
| ***"sq.***  ***ft."*** | Square feet. |

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The expressions "associated company", "related corporation" and "subsidiary" shall have the respective meanings ascribed to them in the Companies Act, as the case may be.

Any discrepancies in tables included herein between the total sum of amounts listed and the totals thereof are due to rounding. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.

Except where the context otherwise requires or where otherwise indicated, the terms "Company," "we," "us," "our," "our company," "our Group" and "our business" refer, prior to the Reorganization described in "Our Corporate Structure and History", to our operating subsidiary in Malaysia and, after the Reorganization, to the Company, in each case together with its consolidated subsidiary as a consolidated entity.

Certain of our customers and suppliers are referred to in this prospectus by their trade names. Our contracts with these customers and suppliers are typically with an entity or entities in the relevant customer or supplier's group of companies.

Internet site addresses in this prospectus are included for reference only and the information contained in any website, including our website, is not incorporated by reference into, and does not form part of, this prospectus.

**Market and Industry Data**

We are responsible for the information contained in this prospectus and any free writing prospectus we prepare or authorize. This prospectus includes statistical and other industry and market data that we obtained from industry publications and research, surveys and studies conducted by third parties, as well estimates by our management based on such data. The market data and estimates used in this prospectus involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. While we believe that the information from these industry publications, surveys and studies is reliable, the industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of important factors, including those described in the section titled *"Risk Factors."* These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.

**Presentation of Financial and Other Information**

Unless otherwise indicated, all financial information contained in this prospectus is prepared and presented in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). Certain differences exist between IFRS and generally accepted accounting principles in the United States ("U.S. GAAP") which might be material to the financial information herein. We have not prepared a reconciliation of our consolidated financial statements and related footnote disclosures between IFRS and U.S. GAAP. Potential investors should consult their own professional advisers for an understanding of the differences between IFRS and U.S. GAAP and how these differences might affect the financial information here.

All references in this prospectus to "U.S. dollars," "US$," "$" and "USD" refer to the currency of the United States of America and all references to "RM," "Ringgit," or "Malaysian Ringgit" refer to the currency of Malaysia. Unless otherwise indicated, all references to currency amounts in this prospectus are in USD. The Company is a holding company with operations exclusively conducted in Malaysia through its Malaysian operating subsidiary, whose reporting currency is Malaysian Ringgit. This prospectus contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. For the purpose of presenting the financial statements included elsewhere in this prospectus, the Company's assets and liabilities are expressed in USD at the exchange rate on the balance sheet date, stockholder's equity accounts are translated at historical rates, and income and expense items are translated at the weighted average exchange rate during the period.

We have made rounding adjustments to some of the figures contained in this prospectus. Accordingly, numerical figures shown as totals in some tables may not be exact arithmetic aggregations of the figures that preceded them.

**THE OFFERING**

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| | |
|:---|:---|
| **Shares Offered by us:** | 5,000,000 Class A Ordinary Shares (or 5,750,000 Class A Ordinary Shares if the Underwriters exercise their option in full to purchase from us additional Shares within 45 days after the closing of this Offering). |
| **Offering** **Price:** | Between US$4 and US$5 per Class A Ordinary Share. |
| **Number of Shares outstanding before this Offering:** | 23,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares are outstanding as of the date of this prospectus. |
| **Shares to be outstanding immediately after this Offering:** | 28,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares (or 28,750,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares if the Underwriters exercise their option in full to purchase additional Class A Ordinary Shares from us within 45 days after the closing of this Offering). |
| **Over-allotment option to purchase additional Class A Ordinary Shares:** | We have granted the Underwriters an option to purchase up to 750,000 additional Class A Ordinary Shares from us within 45 days after the closing of this Offering. |
| **Use of Proceeds:** | We intend to use the proceeds from this Offering as follows: |

---

● Approximately 40% for technology infrastructure enhancement, including computer equipment, cloud
infrastructure, software systems and data processing capabilities;

● Approximately
 20% for geographical business expansion;

● Approximately
 20% for business development, sales and product development activities; and

● approximately
 20% for working capital and other general corporate purposes. See section headed "*Use of Proceeds*" for
 more information.

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| | |
|:---|:---|
| **Lock-up:** | The Company (including any successors), for a period of 180 days after the closing of this Offering, and our directors and officers and shareholders holding 5% or more of the issued and outstanding Class A Ordinary Shares or Class B Ordinary Shares, for a period of 180 days from the date of this prospectus, have agreed with the underwriters, subject to certain exceptions, not to (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC a registration statement under the Securities Act relating to, any Class A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Ordinary Shares or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Class A Ordinary Shares or such other securities, in cash or otherwise, except to the underwriters in connection with this Offering. The Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration of the lock-up period. See sections titled *"Shares Eligible for Future Sale"* and *"Underwriting"* for more information. |
| **Controlled Company:** | After this Offering, assuming an offering size as set forth in this section, our Controlling Shareholder will own approximately 59.33% of our issued and outstanding share capital, and approximately 82.06% aggregate voting power of our Company immediately following the completion of this Offering, assuming that the underwriters do not exercise their over-allotment option. As a result, we expect to be a controlled company within the meaning of the corporate governance standards of the Nasdaq Capital Market, or Nasdaq. See section titled "Prospectus Summary — Implications of Being a Controlled Company" |
| **Nasdaq Capital Market :** | We intend to list our Class A Ordinary Shares on the Nasdaq Capital Market under the symbol "TKDG." |
| **Risk Factors:** | See section titled "*Risk Factors*" and other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest in the Shares. |
| **Transfer Agent:** | VStock Transfer LLC |

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**SUMMARY FINANCIAL INFORMATION**

The following summary presents summary consolidated balance sheet data as of August 31, 2025 and 2024 and February 28, 2026, and summary consolidated statements of operations data for the years ended August 31, 2025 and 2024 and for the six-month period ended February 28, 2026, respectively, have been derived from our audited consolidated financial statements included elsewhere in this prospectus. Our combined financial statements are prepared and presented in accordance with IFRS. You should read this "*Summary financial information*" section together with our combined financial statements and the related notes and the "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" section included elsewhere in this prospectus.

***Fiscal Years Ended August 31, 2025 and 2024***

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| | | |
|:---|:---|:---|
| | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
| <br>**Combined Statement of Operation Data:** | **2025**<br>**(Audited)**<br>**Amount (USD)** | **2024**<br>**(Audited)**<br>**Amount (USD)** |
| Revenues, net | 6350558 | 921530 |
| Cost of revenues | (4625746) | (683327) |
| Gross profit | 1724812 | 238203 |
| Other income | 4391 | 1 |
| General and administrative expenses | (202407) | (141939) |
| Profit from operations | 1526796 | 96265 |
| Finance costs | (2890) | (1013) |
| Profit before tax | 1523906 | 95252 |
| Income tax expense | (5714) | (5639) |
| **Net income** | **1518192** | **89613** |

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***Six Months Ended February 28, 2026 and 2025***

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| | | |
|:---|:---|:---|
| | **For the six months ended February 28,** | **For the six months ended February 28,** |
| <br>**Combined Statement of Operation Data:** | **2026**<br>**(Unaudited)**<br>**Amount (USD)** | **2025**<br>**(Unaudited)**<br>**Amount (USD)** |
| Revenues, net | 7770247 | 2352493 |
| Cost of revenues | (4750769) | (1945846) |
| Gross profit | 3019478 | 406647 |
| Other income | 52 | 4937 |
| General and administrative expenses | (408652) | (61307) |
| Profit from operations | 2610878 | 350277 |
| Finance costs | (5155) | (986) |
| Profit before tax | 2605723 | 349291 |
| Income tax expense | (6004) | (2881) |
| **Net income** | **2599719** | **346410** |

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***Fiscal Years Ended August 31, 2025 and 2024***

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| | | | |
|:---|:---|:---|:---|
| | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | |
| <br>**Combined Balance Sheet Data:** | **2025**<br>**(Audited)**<br>**Amount (USD)** | **2024**<br>**(Audited)**<br>**Amount (USD)** | **For Six-Month Period <br> Ended February 28,**<br>**2026**<br>**(Unaudited)**<br>**Amount (USD)** |
| Cash and cash equivalents | 475280 | 357 | 207039 |
| Total Assets | 1150568 | 960720 | 3056329 |
| Total Liabilities | 433355 | 860982 | 1345699 |
| Total Shareholders' Equity | 717213 | 99738 | 1710630 |

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| | | |
|:---|:---|:---|
| | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
| <br>**Combined Cash Flow Statement Data:** | **2025**<br>**(Audited)**<br>**Amount (USD)** | **2024**<br>**(Audited)**<br>**Amount (USD)** |
| Net cash provided by (used in) operating activities | 1297580 | (24288) |
| Net cash used in investing activities | (11858) |  |
| Net cash provided by (used in) financing activities | (792591) | 24535 |
| Net increase (decrease) of cash and cash equivalents | 493131 | 247 |

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***Six Months Ended February 28, 2026 and 2025***

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| | | |
|:---|:---|:---|
| | **For the six months ended February 28,** | **For the six months ended February 28,** |
| <br>**Combined Cash Flow Statement Data:** | **2026**<br>**(Unaudited)**<br>**Amount (USD)** | **2025**<br>**(Unaudited)**<br>**Amount (USD)** |
| Net cash provided by operating activities | 2983967 | 135375 |
| Net cash (used in) investing activities | (1688156) | (467) |
| Net cash (used in) financing activities | (1590007) | (15379) |
| Net (decrease) increase of cash and cash equivalents | (294196) | 119529 |

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**RISK FACTORS**

*Prospective investors should carefully consider and evaluate each of the following considerations and all other information set forth in this prospectus before deciding to invest in our Class A Ordinary Shares. The following section describes some of the significant risks known to us now that could directly or indirectly affect us and the value or trading price of our Class A Ordinary Shares and should not be construed as a comprehensive listing of all risk factors. The following section does not state risks unknown to us now but which could occur in the future and risks which we currently believe to be not material but may subsequently turn out to be so. Should these risks occur and/or turn out to be material, they could materially and adversely affect our business, financial condition, results of operations and prospects. To the best of our Directors' knowledge and belief, the risk factors that are material to investors in making an informed judgment have been set out below. If any of the following considerations and uncertainties develops into actual events, our business, financial condition, results of operations and prospects could be materially and adversely affected. In such cases, the trading price of our Class A Ordinary Shares could decline and investors may lose all or part of their investment in our Class A Ordinary Shares. Prospective investors are advised to apprise themselves of all factors involving the risks of investing in our Class A Ordinary Shares from their professional advisers before making any decision to invest in our Class A Ordinary Shares.*

 

*This prospectus also contains forward-looking statements having direct and/or indirect implications on our future performance. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks and uncertainties faced by us described below and elsewhere in this prospectus.*

**Risks Related to Our Business and Industry**

**The project-based nature of our business and/or the timing of delivery may lead to fluctuations in our revenue, profit and operating cash flow.**

Our revenue is mainly derived from our technology consulting and analytics services which are carried out on a project basis and per-event basis. Revenue from our data solutions is usually recognized upon issuance of invoices based on project delivery milestones over the tenure of the projects. As such, the timing of project delivery for our data solutions will affect our billing schedule which will in turn affect our revenue recognition and may cause our profit and operating cash flow to fluctuate.

Our inability to secure new projects and customers as well as additional sales from our existing customers for our businesses in a timely manner will materially affect our overall profitability and financial performance. Whilst we have not experienced any shortage of projects that have adversely affected our revenue since the commencement of our business and up to the date hereof, there is no assurance that the non-recurrent nature of our data solutions secured from customers in the future will not cause our revenue, profit and operating cash flow to fluctuate in the future, which in turn may have an adverse effect on our business, financial condition, results of operations, cash flows and prospects.

***We had a concentration of credit risk because we derived our service income from a limited number of customers.***

For the six months ended February 28, 2026 and 2025, we derived our service income from 24 and 24 customers, respectively, with three and four customers contributing more than 10% of our revenue and accounting for approximately 54% and 88% of our total revenue, respectively. For the years ended August 31, 2025 and 2024, we derived our service income from 43 and 23 customers with four and four top clients contributing more than 10% of our revenue making up approximately 77% and 79% of our total revenue, respectively, whereas three and three top clients contributed more than 10% of our revenue, making up approximately 54% and 62% of our revenue for the six months ended February 28, 2026 and 2025, respectively. Generally, we either require payment in full after the completion of our services or offer alternate payment plans for customers to pay a certain amount for the completion of certain services within the applicable time period. We cannot assure you that we will not see concentration of accounts receivable from a small number of customers in the future. In such case, if any of these customers defaults on its payment obligations to us, we will not be able to recover the related accounts receivable, and our business, financial condition and results of operations may be materially and adversely affected.

***We are exposed to risks related to concentration of suppliers as we rely on a few major suppliers, and such concentration may have a material adverse effect on our business and results of operations***.

For the six months ended February 28, 2026 and 2025, a significant portion of our purchases was from two and five suppliers, respectively, representing approximately 61% and 89% of our total purchases, respectively. For the years ended August 31, 2025 and 2024 and the six months ended February 28, 2026 and 2025, a significant portion of our purchase was from four, one, two and five supplier(s), representing approximately 84%, 82%, 61% and 89% of our total purchase, respectively. The Company does not maintain any long-term exclusive arrangements or commitments with these vendors and has the flexibility to replace or engage alternative suppliers without material disruption to operations. Comparable service providers are available in Malaysia and the broader Southeast Asian region, which reduces the risk of any single-supplier dependency. If our suppliers cease allowing us to make purchases, we may not be able to find a different supplier on commercially reasonable terms or on a timely basis. Due to the concentration of our purchases in a few suppliers, any interruption of the operations of our suppliers, any failure of our suppliers to accommodate our growing business scale, any termination or suspension of our supply arrangements, any change in cooperation terms, or the deterioration of cooperative relationships with these suppliers may materially and adversely affect our results of operations. We cannot assure you that we would be able to find replacement suppliers on commercially reasonable terms or on a timely basis.

**We are dependent on our directors and business unit heads for continued success and growth of our business.**

Since inception, our success has been attributed to the experience, industry knowledge and network, and skills of our directors and business unit heads. Our growth and future success will continue to be dependent on the continuous contribution from our directors for their leadership in setting the strategic direction and driving our business development. Additionally, we attribute our continuous success to the abilities, skills, experience and efforts of our directors for their assistance in implementing operational strategies and policies, and in building a strong team of business unit heads to drive sustained success and growth of our business.

As such, the loss of any of our directors and business unit heads simultaneously or within a short period, and the inability to replace or attract suitable talents in a timely manner, may create an unfavorable impact on our operations and the future growth of our business, which may eventually have an adverse effect on our business, financial condition, results of operations, cash flows and prospects.

**We are affected by the availability of suitable talent in the market.**

Successful hires for our data engineering team are subject to the suitability and availability of relevant talent in the market that matches our requirements. We require our data engineers to possess certain fundamental skill sets. In our industry, these technical skill sets may be difficult to source. For example, talents that are equipped with specific technical knowledge may not be available in the market at competitive salary rates at our time of hiring. If we are unable to source for suitable talents that meet our requirements in a timely manner and in sufficient numbers, we may be unable to deliver projects that require these talents or it may limit the scope and number of projects for which we can secure, which may negatively affect our financial performance.

Although, since the commencement of our business and up to the date of this prospectus, we have not encountered any difficulties in hiring suitable talents that limited our ability to deliver projects secured, or to secure projects from customers, there is no assurance that we will always be able to hire such suitable talents in the future whenever required, failing of which may have an adverse effect on our business, financial condition, results of operations, cash flows and prospects.

**We may fail to maintain and grow our customer base or keep our customers engaged through our services.**

Our business growth depends significantly on our ability to retain existing customers and attract new clients to our technology consulting and analytics services. To sustain and expand our market presence, we must consistently maintain our current levels of client service. If we fail to deliver consistent service quality, customer satisfaction may decline, leading to attrition or reduced adoption rates. The data consulting industry is highly competitive, with rapidly changing technology trends and customer expectations. If we do not anticipate market shifts, innovate our service offerings, or enhance user experience, our customer growth may stagnate or even decline.

Additionally, the success of our services is subject to macroeconomic conditions, regulatory developments, and technology execution. There is no guarantee that newly launched services will gain immediate traction or retain long-term demand. Talent availability, regulatory fragmentation across South East Asia, project-specific execution risks, or failure to meet performance benchmarks could damage our reputation, driving customers to competitors offering perceived better solutions.

Hence, it is imperative that we maintain our service standards, invest in infrastructure, continue to focus on innovation and engage our customers. Failure to execute these strategies effectively could result in slower growth, revenue decline, or loss of market share in the competitive data consulting industry.

**We may face increasing competition which may affect our ability to retain existing customers or expand existing customer usage of our solutions.**

The data consulting services markets in which we compete are highly competitive, rapidly evolving, and fragmented, with both local and global players vying for market share. We face competition from regional and local technology providers such as ADA, an Axiata-affiliated data and marketing analytics company, and regional systems integrators including NCS and FPT Software; from global consulting and technology firms as we expand regionally; and from cloud ecosystem partners and hyperscalers' service networks which deliver analytics and AI consulting linked to their platforms, such as AWS, Google Cloud, and Microsoft Azure which are supported by ongoing investment in Malaysian and regional infrastructure. This competition could result in price erosion reducing our profit margins. higher customer acquisition costs due to aggressive marketing by rivals, and loss of market share if competitors offer superior technology, scalability, or bundled services.

**We may not be eligible to enjoy tax incentives under our Malaysia Digital status** 

Our Malaysian subsidiary has been granted with Multimedia Super Corridor ("MSC") Malaysia Status (now known as Malaysia Digital ("MD") status) by the Malaysian Digital Economy Corporation ("MDEC"). The MD status is a new outcome-based tax incentive scheme available to eligible companies undertaking activity utilizing any of the promoted technology enablers. Under this scheme, our Malaysian subsidiary is eligible for income tax exemption in respect of the statutory income derived from its core income generating activity i.e. big data analytical, for a period of five years commencing from April 2, 2024 to April 1, 2029.

The continued enjoyment of such incentives is subject to on-going compliance with the conditions imposed by the MDEC and the relevant authorities. There can be no assurance that our Malaysian subsidiary will continue to satisfy all applicable conditions throughout the incentive period or that the MD status will be renewed or maintained upon expiry. Any non-compliance with the relevant conditions or failure to obtain renewal of the MD status may result in the withdrawal of such tax incentives, which could adversely affect our net profitability and financial position.

Our competitors may have longer-term and more extensive relationships with potential customers that provide them with an advantage that we may be unable to overcome. Further, to the extent that one of our competitors establishes or strengthens a cooperative relationship with, or acquires, one or more software application, data analytics, compliance, or network vendors, it could adversely affect our ability to compete.

We may also face competition from companies entering our market. Many existing and potential competitors enjoy substantial competitive advantages, such as:

● greater financial resources for infrastructure, research and development, and acquisitions;

● established brand recognition and long-term customer trust;

● economies of scale, allowing them to undercut pricing or offer premium features; and

● exclusive partnerships with software vendors or data center operators, limiting our access to key technologies.

These competitive pressures in our markets or our failure to compete effectively may result in declining customer retention, especially if competitors provide better uptime, security, or support, slower revenue growth due to pricing wars or customer migration, and inability to penetrate new markets against entrenched players. Any failure to meet and address these factors could materially and adversely affect our business, operating results, and financial condition.

Hence, it is important for us to remain competitive to maintain a flexible and agile delivery model that can adapt to clients' requirements, to tailor solutions for each engagement, and to invest internal capabilities, such as training, methodologies, security practices, to deliver quality outcomes.

**We may not accurately predict the adoption of our solutions, or any resulting impact on our revenues or operating results.**

As the markets for our data solutions develop, or as new or existing competitors introduce new solutions or services that compete with ours, we may experience pricing pressure and be unable to renew our agreements with existing customers or we may be unable to attract new customers at fee levels that are consistent with our pricing models and operating budget. Moreover, large or influential customers may demand more favorable pricing or other contract terms from us. As a result, we may in the future be required to change our pricing model, reduce our prices or accept other unfavorable contract terms, any of which could adversely affect our revenues, gross margin, profitability, financial position, and/or cash flow. Our pricing strategy for new solutions we introduce may prove to be unappealing to our potential customers and our competitors could choose to bundle certain solutions and services competitive with ours. If this were to occur, it is possible that we would have to change our pricing strategies or reduce our prices, which could harm our business, operating results, and growth prospects.

**We may not be successful in effectively promoting our brand, and any negative publicity may harm our brands and the specific services we provide.**

Our brand and services have gained recognition among the industry. Promoting them and enhancing their recognition is an integral part of our growth strategies. However, we may not be able to effectively promote or develop them and, if we fail to do so, our growth may be adversely affected. In addition, any negative publicity or dispute in relation to us regarding our brand and services, company or management, regardless of their veracity, could harm the image of our brand and the services we provide, which in turn may reduce the number of customers and users of our services. Any impact on our ability to effectively promote our brand and any significant damage to the public perception of our brand or our services could materially and adversely affect our prospects and results of operations.

**We may incur net losses and net operating cash outflows in the future.**

We did not incur net losses in the last two fiscal years. For the fiscal years ended August 31, 2025 and 2024, we recorded a net income of USD 1,518,192 and USD 89,613, respectively, from our operating activities. We cannot assure you that we will be able to generate net profits or positive operating cash flows in the future. Our ability to achieve and maintain profitability depends in large part on our ability to expand our user base, improve monetization, and manage our costs and expenses. Our profitability is affected by various factors beyond our control, such as the regulatory environment, the macroeconomic condition, and competitive dynamics in the industry. Accordingly, you should not rely on our financial results of any prior period as an indication of our future performance.

**We may be involved in certain legal proceedings from time to time. Any adverse decision arising from such proceedings may render us liable to liabilities and may adversely affect our business, financial condition, results of operations, cash flows and prospects.**

We may be involved in legal proceedings from time to time. In addition to the related costs, managing and defending litigation proceedings may divert our management's attention. We may also need to pay damages to settle claims with a substantial amount of cash. Any of these could have a material adverse effect on our business, financial condition, results of operations, cash flows and prospects.

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**We may need additional capital but may not be able to obtain it on favorable terms or at all.**

We may require additional cash resources due to future growth and development of our business, including any investments or acquisitions we may decide to pursue. If our cash resources are insufficient to satisfy our cash requirements, we may seek to issue additional equity or debt securities or obtain new or expanded credit facilities. Our ability to obtain external financing in the future is subject to a variety of uncertainties, including our future financial condition, results of operations, cash flows, share price performance, and liquidity of international capital and lending markets. In addition, incurring indebtedness would subject us to increased debt service obligations and could result in operating and financing covenants that would restrict our operations. There can be no assurance that financing will be available in a timely manner or in amounts or on terms acceptable to us, or at all. Any failure to raise needed funds on terms favorable to us, or at all, could severely restrict our liquidity as well as have a material adverse effect on our business, financial condition and results of operations. Moreover, any issuance of equity or equity-linked securities could result in significant dilution to our existing shareholders.

**We do not maintain** **insurance coverage**

We do not have insurance policies in place. Therefore, all of our losses in all events may not be sufficiently covered. The occurrence of certain incidents, including fraud, confiscation by investigating authorities or misconduct committed by our employees or third-parties, severe weather conditions, war, flooding and power outages would not be covered. Since our losses are not covered by our insurance policies, we may be liable to bear such losses. In such circumstances, our business, financial condition, results of operations and prospects may be materially and adversely affected.

**If we or our third-party vendors with whom we work with sustain a cyberattack or suffer private or data security breaches that disrupt our information systems or operations or result in the dissemination of sensitive personal data or confidential information, we could suffer increased costs, exposure to significant liability, adverse regulatory consequences, reputational harm, loss of business, and other serious negative consequences.**

As part of our normal operations, we routinely collect, process, store, and transmit large amounts of data, which we may share with our third-party vendors. This potentially includes personal data, as well as proprietary or confidential information relating to our business or customers.

Although we have and will continue to develop systems and processes designed to protect the data we manage, prevent data loss and other security breaches, effectively responding to known and potential risks, there can be no assurance that these security measures will provide absolute security or successfully prevent breaches or attacks. We may experience in the future, cyberattack attempts on our systems. To date, none of these attempts have been successful. Certain threat actors may be supported by significant financial and technological resources, making them increasingly difficult to detect. As a result, the costs and resources devoted to protecting against these advanced threats and their consequences may continue to increase over time.

Our systems, or those of our third-party vendors, are subject to a growing number of threats from computer programmers, hackers, and other adversaries that may be able to penetrate our network security and misappropriate our confidential information or that of third-parties, create system disruptions, or cause damage, security issues, or shutdowns. As the techniques used to circumvent, gain access to, or sabotage security systems can be highly sophisticated and change frequently, they may not be recognized until launched against a target, and may originate from less regulated and remote areas around the world. We may be unable to anticipate these techniques or implement adequate preventive measures, resulting in potential data loss and damage to our systems.

Our systems are also subject to compromise from internal threats such as improper action by employees, including malicious insiders, or by vendors, counterparties, and other third-parties with otherwise legitimate access to our systems. Our policies, employee training, procedures, and technical safeguards may not prevent all improper access to our network or proprietary or confidential information by employees, vendors, counterparties or other third-parties.

Any compromise or perceived compromise of the security of our systems or the systems of one or more of our vendors or service providers could damage our reputation and brand, cause the termination of relationships with our customers, result in disruption or interruption to our business operations, marketing partners and carriers, reduce demand for our services, result in improper disclosure of data and violations of applicable privacy and other laws, cause us to incur significant remediation costs and liquidated damages, and divert the attention of management from the operation of our business, and subject us to significant liability and expense, as well as regulation action fines, penalties and lawsuits, which would harm our business, operating results and financial condition.

**We are exposed to credit risk, late and default payments by customers.**

We generally grant our customers credit periods of 30 days upon issuance of invoices issued either at project milestones or completion, depending on the project type. In the event that payment is not received within the credit period or there is late or default in payment by our customers, our operating cash flows or financial results of operations may be adversely affected. In the event that there is any default or delay in the collection of payment, it will lead to impairment losses on trade receivables and/or bad debts which may have an adverse effect on our business, financial condition, results of operations, cash flows and prospects.

**Our deliverables are exposed to unexpected delays, interruptions or contract termination caused by operational factors, accidents and natural disasters beyond our control.**

Our project deliverables are subject to unexpected delays, interruptions or contract termination caused by factors beyond our control. For example, our customers may delay the completion of projects due to unforeseen circumstances, such as unexpected difficulties in accessing our customers' IT infrastructure due to sudden breakdowns or unscheduled system maintenance, or resignation of key project personnel. Our customers may also terminate our contracts due to various reasons such as budget constraint or change of business decision.

If there are any delays caused by our customers which result in delays in our timing of project delivery, our financial performance will be affected. We are therefore dependent on the availability and cooperation of our customers to minimize delays in our deliverables.

Other unexpected events such as accidents and natural disasters may also cause temporary disruptions to our projects. Although, since the commencement of our business and up to the date of this prospectus, we have not encountered any delays or interruptions caused by operational factors, accidents and natural disasters beyond our control which adversely affected our financial performance and business operations, there is no assurance that such delays or interruptions caused by operational factors, accidents and natural disasters beyond our control will not happen in the future, of which it may have an adverse effect on our business, financial condition, results of operations, cash flows and prospects.

**We face risks related to natural disasters, health epidemics, macroeconomic factors and other uncontrollable events, which could significantly disrupt our operations.**

Our business may be adversely affected by instability, disruption or destruction in the geographic region of Malaysia regardless of cause, including war, terrorism, riot, civil insurrection or social unrest, and natural or manmade disasters, including famine, flood, fire, earthquake, storm or pandemic events and spread of disease such as severe acute respiratory syndrome (SARS), H5N1 avian flu, Influenza A (H1N1), MERS, Ebola, COVID-19 and Mpox (formerly known as monkeypox), although we have not experienced any material interruptions to our business operations arising from the above. Such events may cause our customers to suspend their decisions on purchasing our services, as well as give rise to sudden significant changes in regional and global economic conditions and cycles. These events also pose significant risks to our personnel, physical facilities, and operations, which could materially adversely affect our financial results.

Any significant disruption to transportation and travel, including travel restrictions and other potential protective quarantine measures by governmental agencies, may increase operational difficulties and could make it impossible for us to conduct on-site work for our customers. Furthermore, travel restrictions and protective measures could cause us to incur additional unexpected labor costs and expenses or could restrain our ability to retain highly skilled personnel we need for our operations, all of which could materially and adversely affect our business, financial condition, results of operations, cash flows and prospects.

Our business may also be affected by macroeconomic factors, such as general economic conditions, level and volatility of economic growth, inflation, exchange rates, market sentiment and consumer confidence in the jurisdictions we operate in, trade tensions, social and political unrest, and regulatory, fiscal and other governmental policies, all of which are beyond our control. In particular, we are exposed to the risks of global trade wars and tariffs, which could disrupt the international trade flows and supply chains that are essential for our operations. Trade wars and tariffs could result in higher costs, lower demand, reduced market access, increased uncertainty, and retaliatory measures for products and services in various countries. Moreover, trade wars and tariffs could trigger or exacerbate geopolitical tensions, social unrest, and protectionist policies that could further undermine the stability and predictability of the global economic and regulatory environment. We cannot predict the outcome or duration of these trade conflicts or their impact on our business, financial condition, results of operations and/or prospects, which could be material and adverse.

Given the uncertainties as to the future economic outlook, there is no assurance that we will be able to maintain or continue to grow our revenue and profits, or that we will be able to react promptly to any change in economic conditions. In the event that we fail to react promptly to the changing economic conditions, our business, prospects and financial position could be adversely affected.

**We face risks of not adapting quickly to the latest technological developments.**

The data solutions industry undergoes continuous and rapid technological developments, with increasing levels of complexity. These developments require the adoption of advanced solutions to digitalize business operations and process sensitive data for our customers. Our customers' needs for advanced and secure data solutions may necessitate the implementation of cutting-edge digitalization technologies and practices.

Our ability to adapt to these changes and to remain technologically relevant will determine the sustainability of our business. There is no assurance that we will have sufficient resources to successfully and accurately anticipate technological changes and market trends, as well as the ability to adopt these latest digitalization technologies for the development of our data solutions on a timely and cost-effective manner, all of which may materially and adversely affect our business, financial condition, results of operations, cash flows and prospects.

**We are exposed to risks relating to the economic, political, legal and regulatory environments in Malaysia.**

We operate in Malaysia. Our business, financial condition, results of operations, cash flows and prospects may be affected by any adverse developments, changes and/or uncertainties in the economic, political, legal and regulatory environments that are beyond our control in Malaysia. These risks include unfavorable changes in political conditions, economic conditions, interest rates, government policies and regulations, import and export restrictions, duties and tariffs, civil unrest, methods of taxation, inflation and foreign exchange controls.

Any changes to the economic, political, legal and regulatory environments in Malaysia may cause disruptions in our delivery schedules, which may consequently cause a decline in our revenue or demand for our services. Such events may have a material adverse impact on our business and financial performance. Although, since the commencement of our business and up to the date of this prospectus, we have not experienced any disruptions in our project delivery schedules arising from adverse developments, changes and/or uncertainties in the economic, political, legal and regulatory environments in Malaysia, there is no assurance that we will not experience any disruptions in our project delivery schedules arising from adverse developments, changes and/or uncertainties in the economic, political, legal and regulatory environments in Malaysia in the future, which may materially and adversely affect our business, financial condition, results of operations, cash flows and prospects.

**If we pursue strategic acquisitions or joint ventures, we may be unable to successfully consummate favorable transactions or successfully integrate acquired businesses.**

**We intend to utilize a portion of the net proceeds from this Offering for business expansion but may face problems in the implementation of such expansion plans and the actual capital expenditure necessary for such expansion may significantly exceed our budgets or we may be unable to maximize returns from the capital expenditure.**

We intend to utilize a portion of the net proceeds from this Offering for business expansion by investing in the research and development ("R&D") of proprietary artificial intelligence ("AI") solutions. Our objective is to scale our business by developing a product-based offering that can generate recurring revenues, similar to enterprise resource planning ("ERP") or other platform-based solutions in the market, rather than relying solely on bespoke project-by-project engagements. While we believe that such R&D initiatives are critical to strengthening our long-term competitiveness and market position, they are subject to significant risks and uncertainties.

The development of new AI products may involve higher-than-expected costs, longer development cycles, technical challenges, delays, and the risk that the resulting product may not meet customer needs or achieve market adoption. In addition, as of the date of this prospectus, we do not have a finalized development roadmap or a launched product, and there can be no assurance that our R&D efforts will result in commercially viable offerings. Furthermore, competing technologies or market preferences may evolve rapidly, which could render our solutions less competitive or obsolete.

If our actual R&D expenditure significantly exceeds our budgets and we do not have sufficient resources (including the net proceeds from this Offering) to fund such activities, we may be required to seek additional financing at higher costs, delay our development efforts, or reduce the scope of our product strategy. Even if we are successful in completing development, there can be no assurance that we will be able to achieve expected returns or maximize the profitability of our investments. Any failure to successfully implement our R&D and product expansion strategy could materially and adversely affect our growth, business, financial condition, results of operations, cash flows, and prospects.

**If we are unable to raise additional capital, our business prospects could be adversely affected.**

We intend to fund our expansion plans through our cash on hand, cash flow from operations and the net proceeds from this Offering. We will continue to incur significant expenditures to maintain and grow our existing business. There is no assurance that we will have sufficient capital resources for our current operations or any future expansion plans that we may have. While we expect our cash on hand and cash flow from operations to be adequate to fund our existing commitments, our ability to incur any future borrowings is dependent on the success of our operations. Additionally, the inability to obtain sufficient financing could adversely affect our ability to complete expansion plans. Our ability to arrange financing and the costs of capital of such financing are dependent on numerous factors, including general economic and capital market conditions, credit availability from banks, investor confidence, the continued success of our operations and other laws that are conducive to our raising capital in this manner. If we decide to meet our capital requirements through debt financing, we may be subject to certain restrictive covenants. If we are unable to raise adequate capital in a timely manner and on acceptable terms, or at all, our business, financial condition, results of operations, cash flows and prospects could be adversely affected.

**Changes in international trade policies, tariffs and treaties affecting imports and exports may have a material adverse effect on our business, operations, and financial performance**.

There have recently been significant changes to international trade policies and tariffs affecting imports and exports. Any significant increases in tariffs on goods or materials or other changes in trade policy could negatively affect our operations, supply chain, and the demand for our services.

Recently, the U.S. has implemented a range of new tariffs and increases to existing tariffs. In response to the tariffs announced by the U.S., other countries have imposed, are considering imposing, and may in the future impose new or increased tariffs on certain exports from the United States. There is currently significant uncertainty about the future relationship between the United States and other countries with respect to trade policies, taxes, government regulations and tariffs. and we cannot predict whether, and to what extent, current tariffs will continue or trade policies will change in the future.

Tariffs, or the threat of tariffs or increased tariffs, could have a significant negative impact on our businesses. In particular, retaliatory tariffs could have a significant negative impact on our business that rely on imports from and exports to the United States, These tariffs and threats of tariffs and other potential trade policy changes could negatively affect the availability and cost of materials, disrupt our supply chain, reduce demand for our services, and lead to increased costs, which may not be passed on to customers. Among other things, the impact of tariffs and other trade policy changes may render historical financial performance of our business or industry less relevant as a basis for predicting future performance.

We may not be able to adequately address the risks presented by these tariffs or other potential trade policy changes, which could lead to material adverse effects on our operations, financial condition, or results. Any such developments could also cause the market value of our securities to decline.

**The wars in Ukraine and in the Middle East may materially and adversely affect our business and results of operations.**

The outbreak of war in Ukraine has already affected global economic markets, including a dramatic increase in the price of oil and gas, and the uncertain resolution of this conflict could result in protracted and/or severe damage to the global economy. Russia's military interventions in Ukraine have led to, and may lead to, additional sanctions being levied by the United States, European Union and other countries against Russia. Russia's military incursion and the resulting sanctions could adversely affect global energy and financial markets and thus could affect the global markets, our customers' businesses and potentially our business. As of the date of this prospectus, to the best knowledge of the Company, we and our Malaysia subsidiaries (i) do not have any direct business or contracts with any Russian or Ukraine entity as a supplier or customer, (ii) do not have any knowledge whether any our customers or suppliers have any direct business or contracts with any Russian entity, (iii) our business segments, lines of service, projects, or operations are not materially impacted by supply chain disruptions by the war in Ukraine, and (iv) have not been financially affected by the war in Ukraine. The extent and duration of the military action, sanctions and resulting market disruptions are impossible to predict, but could be substantial. Any such disruptions caused by Russian military action or resulting sanctions may magnify the impact of other risks described in this section. We cannot predict the progress or outcome of the situation in Ukraine, as the conflict and governmental reactions are rapidly developing and beyond their control. Prolonged unrest, intensified military activities or more extensive sanctions impacting the region could have a material adverse effect on the global economy, and such effect could in turn have a material adverse effect on our business, financial condition, results of operations, and prospects.

We do not anticipate any new or heightened risk of potential cyberattacks by state actors or others since Russia's invasion of Ukraine, and we have not taken any actions to mitigate such potential risks. Our board of directors will continue to monitor any potential risks that might arise due to the war in Ukraine which are specific to the Company, including but not limited to risks related to cybersecurity, sanctions, and supply chain, suppliers, or service providers in affected regions as well as risks connected with ongoing or halted operations or investments in affected regions.

Similarly, the war in Gaza is unpredictable and may expand into a regional or even possibly a global conflict. To date, this newest chapter in the long Middle East conflict has not resulted in any material adverse impact on the Company, but a prolonged conflict and/or significant escalation of hostilities would likely cause disruption in international relations and global trade, which in turn would likely adversely affect our business and the price of our Shares.

***Our management team lacks experience in managing a U.S. public company and complying with laws applicable to such company, the failure of which may adversely affect our business, financial condition and results of operations.***

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Our current management team lacks experience in managing a U.S. publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to U.S. public companies. Prior to the completion of this Offering, we were a private company mainly operating our businesses in Malaysia. As a result of this Offering, our Company will become subject to significant regulatory oversight and reporting obligations under the federal securities laws and the scrutiny of securities analysts and investors, and our management currently has no experience in complying with such laws, regulations and obligations. Our management team may not successfully or efficiently manage our transition to becoming a U.S. public company. These new obligations and constituents will require significant attention from our senior management and could divert their attention away from the day-to-day management of our business, which could adversely affect our business, financial condition and results of operations.

***Some of our officers and directors presently have additional interest or affiliation with other businesses, and accordingly, may have conflicts of interest in their determination as to how much time to devote to our affairs.***

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Some of our officers and directors, such as Mr. Chen Xiang Foong, our Chief Financial Officer, may allocate their time to other businesses, thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to conduct our business.

**Risks Related to Doing Business in Malaysia**

***Developments in the social, political, regulatory and economic environment in Malaysia may have a material adverse impact on us.***

Our business, prospects, financial condition and results of operations may be adversely affected by social, political, regulatory and economic developments in Malaysia. Such political and economic uncertainties include, but are not limited to, political instability due to changes in political leadership, new government policies or change in Malaysia governmental policies, the risks of war, terrorism, nationalism, economic downturn, corruption culture, nullification of contracts, changes in interest and currency exchange rates, imposition of capital controls and methods of taxation. The occurrence of any of these events in Malaysia could adversely affect our business sentiment and consumer confidence, leading to reduced business and consumer spending, which lead our existing and prospective customer to delay, or abandon their plan to subscribe to our offerings.

Negative developments in Malaysia's socio-political environment and several high profile corruption, money laundering and abuse of powers prosecution under, among others, the Malaysian Anti-Corruption Commission Act 2009, the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 ("AMLATA") and the Penal Code of Malaysia, may adversely affect our business, financial condition, results of operations and prospects. Although the overall Malaysian economic environment (in which we predominantly operate) appears to be positive, there can be no assurance that this will continue to prevail in the future. Economic growth is determined by countless factors, and it is extremely difficult to predict with any level of absolute certainty.

***We are subject to foreign exchange policies in Malaysia.***

The ability of our subsidiary to pay dividends or make other payments to us may be restricted by the foreign exchange policies in the countries where we operate. For example, there are foreign exchange policies in Malaysia which support the monitoring of capital flows into and out of the country in order to preserve its financial and economic stability. The foreign exchange policies monitor and regulate both residents and non-residents. Under the current foreign exchange policies issued by BNM, non-residents are free to repatriate any amount of funds from Malaysia in foreign currency other than the currency of Israel at any time (subject to limited exceptions), including capital, divestment proceeds, profits, dividends, rental, fees and interest arising from investment in Malaysia, subject to any withholding tax. In the event BNM or any other country where we operate introduces any restrictions in the future, we may be affected in our ability to repatriate dividends or other payments from our subsidiary in Malaysia or in such other countries. Since our Company is a holding company and will rely principally on dividends and other payments from our subsidiary for our cash requirements, any restrictions on such dividends or other payments could materially and adversely affect our liquidity, financial condition and results of operations.

***Economic, market and political developments in the countries where we operate could have a material and adverse effect on our business.***

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As with all organizations that seek to reduce business risks via geographical expansion, the economic, market and political conditions in other countries, particularly emerging market conditions in Southeast Asia, could have an influence on our business. Any widespread global financial instability or a significant loss of investor confidence in emerging market economies may materially and adversely affect our business, financial condition, results of operations, prospects or reputation.

Examples of such external factors or conditions that are outside our control include, but are not limited to the following:

● general economic, political and social conditions in Southeast Asian markets;

● consumer spending patterns in our key markets;

● currency and interest rate fluctuations;

● international events and circumstances such as wars, terrorist attacks, natural disasters and political instability; and

● changes in legal regimes and governmental regulations, such as licensing and approvals, taxation, duties and tariffs, in key markets and abroad.

For example, the global financial markets experienced significant disruptions in 2008 and the United States, Europe and other economies went into recession. The recovery from the lows of 2008 and 2009 was uneven and the global economy has continued to face new challenges. There is considerable uncertainty over the long-term effects of the expansionary monetary and fiscal policies that have been adopted by the central banks and financial authorities of some of the world's leading economies, including the United States. For example, in 2013, the Federal Reserve Bank in the United States announced the tapering of its bond-buying program which led to a high degree of volatility in equity markets and substantial devaluations in the currencies of many emerging economies, including markets where we operate. Economic conditions in the countries where we operate might be sensitive to global economic conditions, as well as changes in domestic economic and political policies and the expected or perceived overall economic growth rate in emerging markets. We are witnessing the adverse impact on the purchasing power of consumers in Malaysia, where our products are mainly sold, as a direct result of these worldwide developments.

***We may be exposed to liabilities under applicable anti-corruption laws and any determination that we violated these laws could have a materially adverse effect on our business.***

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We are subject to various anti-corruption laws, including the Malaysian Anti-Corruption Commission Act 2009, AMLATA and the Penal Code of Malaysia, that prohibit companies and their agents from making improper payments or offers of payments for the purpose of obtaining or retaining business. We may conduct business in countries and regions that are generally recognized as potentially more corrupt business environments. Activities in these countries create the risk of unauthorized payments or offers of payments by one of our employees or agents that could be in violation of various anti-corruption laws. We have implemented safeguards and policies to discourage these practices by our employees and agents but we cannot provide assurance that our internal controls and compliance systems will always protect us from acts committed by our employees or agents. If our employees or agents violate our policies or we fail to maintain adequate record keeping and internal accounting practices to accurately record our transactions, we may be subject to regulatory sanctions. Violations of the Malaysian Anti-Corruption Commission Act 2009, AMLATA, the Penal Code of Malaysia or other anti-corruption laws, or allegations of any such acts, could damage our reputation and subject us to civil or criminal investigations in the United States and in other jurisdictions. Those and any related shareholder lawsuits could lead to substantial civil and criminal, monetary and non-monetary penalties and cause us to incur significant legal and investigatory fees which could adversely affect our business, combined financial condition and results of operations.

***Fluctuations in exchange rates could have a material and adverse effect on our results of operations and the value of our securities***

Our operating subsidiary conducts a significant portion of its business in currency other than US dollars, while our consolidated financial statements are presented in US dollars. As a result, we are exposed to fluctuations in currency exchange rates. As exchange rates fluctuate, our revenue, cost of raw materials, depreciation and amortization, operating expenses, other income and expenses, as well as assets and liabilities denominated in foreign currencies, may vary materially when translated into US dollars for reporting purposes, which may in turn affect our overall financial results. We have not entered into any hedging arrangements or derivative transactions to mitigate our exposure to foreign exchange risk. Although such foreign exchange risks have not been material to our financial condition or results of operations to date, there can be no assurance that they will remain immaterial in future.

***We are subject to work variations due to changes in laws and regulations in Malaysia.***

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Our operations in Malaysia are subject to the regulatory environment. The regulatory landscape in Malaysia is subject to change. Alterations in laws, regulations, or government policies can impact various aspects of our subscription offerings, including licensing requirements, environmental standards, safety protocols, and other compliance measures. Such changes may necessitate modifications to ongoing subscription offerings, potentially leading to delays, increased costs, or adjustments in subscription offerings.

In addition, our contractual agreements entered in our ordinary course of business are often structured based on existing legal frameworks. Changes in laws may trigger variations in contract terms, specifications, or requirements, potentially leading to negotiations with suppliers, customers or other stakeholders. Such variations could adversely affect our business, combined financial condition and results of operations.

**Risks Related to Our Class A Ordinary Shares**

***An active trading market for our Class A Ordinary Shares may not develop and could affect the trading price of our Ordinary Shares.***

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Prior to this Offering, there was no public market for our Class A Ordinary Shares. Although an application has been made to Nasdaq Capital Market for the listing and quotation of our Ordinary Shares, there can be no assurance that there will be an active, liquid public market for our Class A Ordinary Shares after the Offering. The lack of an active market may impair your ability to sell your Class A Ordinary Shares at the time you wish to sell them or at a price that you consider reasonable. The lack of an active market may also reduce the fair market value of your Class A Ordinary Shares. An inactive market may also impair our ability to raise capital to continue to fund operations by selling Class A Ordinary Shares and may impair our ability to acquire other companies or technologies by using our Class A Ordinary Shares as consideration. The initial public offering price was determined by negotiations between us and the Underwriters and may not be indicative of the future prices of our Class A Ordinary Shares.

***Our Class A Ordinary Shares price may never trade at or above the price in this Offering.***

Stock markets generally have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of those companies. Broad market and industry factors may significantly affect the market price of our Class A Ordinary Shares, regardless of our actual operating performance. These fluctuations may be even more pronounced in the trading market for our Ordinary Shares shortly following this Offering. If the market price of our Class A Ordinary Shares after this Offering does not ever exceed the initial public offering price, you may not realize any return on your investment in us and may lose some or all of your investment.

***The Offering Price for our Class A Ordinary Shares may not reflect their actual value.***

The Offering Price for our Class A Ordinary Shares is and will be determined through negotiations between us and the Underwriters. The price of our Class A Ordinary Shares may not be indicative of their actual value or any future market price for our securities. This price may not accurately reflect the value of the Class A Ordinary Shares or the value that potential investors will realize upon their disposition of Class A Ordinary Shares. The price does not necessarily bear any relationship to our assets, earnings, book value per Ordinary Share or other generally accepted criteria of value.

***Our share price may fluctuate significantly in the future and you may lose all or part of your investment, and litigation may be brought against us.***

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There is no assurance that the market price for our Class A Ordinary Shares will not decline below the Offering Price. The Offering Price was determined after consultation between our Company and the Underwriters, after taking into consideration, among others, market conditions and estimated market demand for our Class A Ordinary Shares. The Offering Price may not necessarily be indicative of the market price for our Class A Ordinary Shares after the completion of this Offering. Investors may not be able to sell their Class A Ordinary Shares at or above the Offering Price. The prices at which our Class A Ordinary Shares will trade after this Offering may fluctuate significantly and rapidly as a result of, among others, the following factors, some of which are beyond our control:

● variation in our results of operations;

● perceived prospects and future plans for our business and the general outlook of our industry;

● changes in securities analysts' estimates of our results of operations and recommendations;

● announcements by us of significant contracts, acquisitions, strategic alliances or joint ventures or capital commitments;

● the valuation of publicly-traded companies that are engaged in business activities similar to ours;

● additions or departures of key personnel;

● fluctuations in stock market prices and volume;

● involvement in litigation;

● outbreak of war;

● general economic and stock market conditions; and

● discrepancies between our actual operating results and those expected by investors and securities analysts.

There is no guarantee that our Class A Ordinary Shares will appreciate in value after this Offering or even maintain the price at which you purchased the Class A Ordinary Shares. You may not realize a return on your investment in our Class A Ordinary Shares and you may even lose your entire investment in our Class A Ordinary Shares.

In addition, the stock markets have from time to time experienced significant price and volume fluctuations that have affected the market prices of securities. These fluctuations often have been unrelated or disproportionate to the operating performance of publicly-traded companies. In the past, following periods of volatility in the market price of a particular company's securities, an investor may lose all or part of his or her investment, and litigation has sometimes been brought against that company. If similar litigation is instituted against us, it could result in substantial costs and divert our senior management's attention and resources from our core business.

***Certain recent initial public offerings of companies with public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our Class A Ordinary Shares.***

In addition to the risks addressed above headed "*— Our share price may fluctuate significantly in the future and you may lose all or part of your investment, and litigation may be brought against us,*" our Class A Ordinary Shares may be subject to extreme volatility that is seemingly unrelated to the underlying performance of our business. Recently, companies with comparable public floats and initial public offering sizes have experienced instances of extreme stock price run-ups followed by rapid price declines, and such stock price volatility was seemingly unrelated to the respective company's underlying performance. Although the specific cause of such volatility is unclear, our anticipated public float may amplify the impact the actions taken by a few shareholders have on the price of our Class A Ordinary Shares, which may cause our share price to deviate, potentially significantly, from a price that better reflects the underlying performance of our business. Should our Class A Ordinary Shares experience run-ups and declines that are seemingly unrelated to our actual or expected operating performance and financial condition or prospects, prospective investors may have difficulty assessing the rapidly changing value of our Class A Ordinary Shares. In addition, investors of our Class A Ordinary Shares may experience losses, which may be material, if the price of our Class A Ordinary Shares declines after this Offering or if such investors purchase shares of our Class A Ordinary Shares prior to any price decline.

Holders of our Class A Ordinary Shares may also not be able to readily liquidate their investment or may be forced to sell at depressed prices due to low volume trading. Broad market fluctuations and general economic and political conditions may also adversely affect the market price of our Class A Ordinary Shares. As a result of this volatility, investors may experience losses on their investment in our Class A Ordinary Shares. Furthermore, the potential extreme volatility may confuse the public investors of the value of our stock, distort the market perception of our stock price and our Company's financial performance and public image and negatively affect the long-term liquidity of our Class A Ordinary Shares, regardless of our actual or expected operating performance. If we encounter such volatility, including any rapid stock price increases and declines seemingly unrelated to our actual or expected operating performance and financial condition or prospects, it will likely make it difficult and confusing for prospective investors to assess the rapidly changing value of our Class A Ordinary Shares and understand the value thereof.

***Investors in our Class A Ordinary Shares likely will face immediate and substantial dilution in the net tangible book value per share and may experience future dilution.***

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The Offering Price is likely to substantially higher than our Group's current net tangible book value per share. If we were liquidated immediately following this Offering, each investor subscribing for this Offering would receive less than the price they paid for their Class A Ordinary Shares. Please refer to the section titled "*Dilution*" of this prospectus for more information.

***We may have conflicts of interest with our Controlling Shareholder and, because of our Controlling Shareholder's significant ownership interest in our company, we may not be able to resolve such conflicts on terms favorable to us.***

Immediately upon the completion of this Offering, our Controlling Shareholder will beneficially own approximately 59.33% of our outstanding Shares, representing approximately 82.06% of our total voting power in the aggregate, assuming the Underwriters do not exercise their option to purchase additional Class A Ordinary Shares. Accordingly, our Controlling Shareholder will continue to be our controlling shareholder immediately upon the completion of this Offering and may have significant influence in determining the outcome of any corporate actions or other matters that require shareholder approval, such as mergers, consolidations, change of our name, and amendments of our memorandum and articles of association.

The concentration of ownership and voting power may cause transactions to occur in a way that may not be beneficial to you as a holder of our Class A Ordinary Shares in this Offering and may prevent us from doing transactions that would be beneficial to you. Conflicts of interest may arise between our Controlling Shareholder or any of its controlling shareholders and us in a number of areas relating to our past and ongoing relationships. Potential conflicts of interest that we have identified include the following:

● *Our board members or executive officers may have conflicts of interest*. Our Controlling Shareholder is owned as to 50% each by Mr. Chu, our Director and Chief Executive Officer, and Mr. Lim our Director and Chief Technology Officer. As a result, these overlapping relationships could create or appear to create conflicts of interest when either of Mr. Chu or Mr. Lim is faced with decisions with potentially different implications for either or both of them and us.

● *Sale of Class A Ordinary Shares or assets in our company*. Upon expiration of the lock-up period and subject to certain restrictions under relevant securities laws and stock exchange rules, as well as other relevant restrictions, our Controlling Shareholder may decide to sell all or a portion of our Class A Ordinary Shares that they hold to a third party, thereby giving that third party substantial influence over our business and our affairs. In addition, our Controlling Shareholder may decide to sell all or a portion of our Shares in the event of default of our Controlling Shareholder under any applicable debt or other obligations or otherwise becomes insolvent. Such a sale of our Shares or our assets could be contrary to the interests of our employees or our other shareholders. In addition, our Controlling Shareholder may also discourage, delay, or prevent a change in control of our company, which could deprive our shareholders of an opportunity to receive a premium for their Shares as part of a sale of our Company and might reduce the price of our Class A Ordinary Shares.

***We are a "controlled company" within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders.***

Following this Offering, our Controlling Shareholder will continue to own more than a majority of the voting power of our outstanding Class A Ordinary Shares. Under the Nasdaq listing rules, a company of which more than 50% of the voting power is held by an individual, group, or another company is a "controlled company" and is permitted to phase in its compliance with the independent committee requirements. Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq listing rules even if we are deemed a "controlled company", we could elect to rely on these exemptions in the future. If we were to elect to rely on the "controlled company" exemptions, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. Accordingly, if we rely on the exemptions, during the period we remain a "controlled company" and during any transition period following a time when we are no longer a "controlled company", you would not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq.

***Our Class A Ordinary Shares may trade under $4.00 per share and thus would be known as "penny stock". Trading in penny stocks has certain restrictions and these restrictions could negatively affect the price and liquidity of our Class A Ordinary Shares.***

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Our Class A Ordinary Shares may trade below $4.00 per share. As a result, our Class A Ordinary Shares would be known as "penny stock", which is subject to various regulations involving disclosures to be given to you prior to the purchase of any penny stock. The SEC has adopted regulations which generally define a "penny stock" to be any equity security that has a market price of less than $4.00 per share, subject to certain exceptions. Depending on market fluctuations, our Class A Ordinary Shares could be considered to be "penny stock". A penny stock is subject to rules that impose additional sales practice requirements on broker/dealers who sell these securities to persons other than accredited investors. For transactions covered by these rules, the broker/dealer must make a special suitability determination for the purchase of these securities. In addition, a broker/dealer must receive the purchaser's written consent to the transaction prior to the purchase and must also provide certain written disclosures to the purchaser. Consequently, the "penny stock" rules may restrict the ability of broker/dealers to sell our Class A Ordinary Shares, and may negatively affect the ability of holders of our Class A Ordinary Shares to resell them. These disclosures require you to acknowledge that you understand the risks associated with buying penny stocks and that you can absorb the loss of your entire investment. Penny stocks generally do not have a very high trading volume. Consequently, the price of the shares is often volatile and you may not be able to buy or sell your shares when you want to.

 **

***We may require additional funding in the form of equity or debt for our future growth which will cause dilution in Shareholders' equity interest.***

 **

We may pursue opportunities to grow our business through joint ventures, strategic alliance, acquisitions or investment opportunities, following this Offering. However, there can be no assurance that we will be able to obtain additional funding on terms that are acceptable to us or at all. If we are unable to do so, our future plans and growth may be adversely affected.

An issue of Class A Ordinary Shares or other securities to raise funds will dilute Shareholders' equity interests and may, in the case of a rights issue, require additional investments by Shareholders. Further, an issue of Class A Ordinary Shares below the then prevailing market price will also affect the value of the Class A Ordinary Shares then held by investors.

Dilution in Shareholders' equity interests may occur even if the issue of shares is at a premium to the market price. In addition, any additional debt funding may restrict our freedom to operate our business as it may have conditions that:

● limit our ability to pay dividends or require us to seek consents for the payment of dividends;

● increase our vulnerability to general adverse economic and industry conditions;

● require us to dedicate a portion of our cash flow from operations to repayments of our debt, thereby reducing the availability of our cash flow for capital expenditures, working capital and other general corporate purposes; and

● limit our flexibility in planning for, or reacting to, changes in our business and our industry.

Volatility or uncertainty of the credit markets could limit our ability to borrow funds or cause our borrowings to be more expensive in the future. 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.

***Investors may not be able to participate in future issues or certain other equity issues of our Class A Ordinary Shares.***

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In the event that we issue new Class A Ordinary Shares, we will be under no obligation to offer those Class A Ordinary Shares to our existing Shareholders at the time of issue, except where we elect to conduct a rights issue. However, in electing to conduct a rights issue or certain other equity issues, we will have the discretion and may also be subject to certain regulations as to the procedures to be followed in making such rights available to Shareholders or in disposing of such rights for the benefit of such Shareholders and making the net proceeds available to them. In addition, we may not offer such rights to our existing Shareholders having an address in jurisdictions outside of Malaysia.

Accordingly, certain Shareholders may be unable to participate in future equity offerings by us and may experience dilution in their shareholdings as a result.

***We have no immediate plans to pay dividends.***

We plan to reinvest all of our future earnings, to the extent we have earnings, in order to expand our product and services offerings and to cover operating costs and capital needs, and to otherwise become and remain competitive. We do not plan to pay any cash dividends with respect to our securities in the foreseeable future. As we are a company with a limited operating history, we may not be able to generate, at any time, sufficient surplus cash that would be available for distribution to the holders of our Shares as a dividend. Therefore, you should not expect to receive immediate cash dividends on the Shares we are offering. Consequently, investors may need to rely on sales of their Shares after price appreciation, which may never occur, as the only way to realize any future gains on their investment. In addition, the laws of the Cayman Islands impose restrictions on our ability to declare and pay dividends.

***If we fail to meet applicable listing requirements, including those under Nasdaq's recently proposed rule changes, Nasdaq may delist our Class A Ordinary Shares from trading, in which case the liquidity and market price of our Class A Ordinary Shares could decline.***

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Assuming our Class A Ordinary Shares are listed on Nasdaq on the closing of the Offering, we cannot assure you that we will be able to meet the continued listing standards of Nasdaq in the future. If we fail to comply with the applicable listing standards and Nasdaq delists our Class A Ordinary Shares, we and our Shareholders could face significant material adverse consequences, including:

● a limited availability of market quotations for our Class A Ordinary Shares;

● reduced liquidity for our Class A Ordinary Shares;

● a determination that our Class A Ordinary Shares are "penny stock", which would require brokers trading in our Class A Ordinary Shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our Class A Ordinary Shares;

● a limited amount of news about us and analyst coverage of us; and

● a decreased ability for us to issue additional equity securities or obtain additional equity or debt financing in the future.

The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or pre-empts the states from regulating the sale of certain securities, which are referred to as "covered securities." Because we expect that our Class A Ordinary Shares will be listed on Nasdaq, such securities will be covered securities. Although the states are pre-empted from regulating the sale of our securities, the federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. Further, if we were no longer listed on Nasdaq, our securities would not be covered securities and we would be subject to regulations in each state in which we offer our securities.

Recent proposals by Nasdaq to amend its listing standards may impose additional hurdles for companies to list on Nasdaq. These proposed changes include a heightened minimum initial public offering size of US$15 million and increased public float requirements for companies seeking to list on the Nasdaq Capital Market, among other measures aimed at enhancing investor protection and market stability. If implemented, these rules may significantly raise the threshold for initial and continued listing eligibility for issuers like us. If we fail to meet the revised listing requirements, we may be unable to list or maintain our listing on Nasdaq Capital Market, which could materially and adversely affect the liquidity, visibility, and overall marketability of our Class A Ordinary Shares.

***We will incur significant expenses and devote other significant resources and management time as a result of being a public company, which may negatively impact our financial performance and could cause our results of operations and financial condition to suffer.***

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We will incur significant legal, accounting, insurance and other expenses as a result of being a public company. Laws, regulations and standards relating to corporate governance and public disclosure for public companies, including the Dodd-Frank Act of 2010, the Sarbanes-Oxley Act, regulations related thereto and the rules and regulations of the SEC and Nasdaq, will significantly increase our costs as well as the time that must be devoted to compliance matters. We expect that compliance with these laws, rules, regulations and standards will substantially increase our expenses, including our legal and accounting costs, and make some of our operating activities more time-consuming and costly. These new public company obligations also will require attention from our senior management and could divert their attention away from the day-to-day management of our business. We also expect these laws, rules, regulations and standards to make it more expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified persons to serve on our Board of Directors or as officers. As a result of the foregoing, we expect a substantial increase in legal, accounting, insurance and certain other expenses in the future, which will negatively impact our financial performance and could cause our results of operations and financial condition to suffer. Furthermore, if we are unable to satisfy our obligations as a public company, we could be subject to delisting of our Shares, fines, sanctions and other regulatory actions and potential civil litigation.

***If we fail to maintain an effective system of disclosure controls and internal controls over financial reporting, our ability to timely produce accurate financial statements or comply with applicable regulations could be impaired.***

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The Sarbanes-Oxley Act requires, among other things, that public companies maintain effective internal disclosure controls and procedures over financial reporting. We are continuing to develop and refine our disclosure controls and other procedures that are designed to ensure that information required to be disclosed by us in our reports that we will file with the SEC will be recorded, processed, summarized, and reported within the time periods and as otherwise specified in SEC rules, and that information required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal Executive Officers and financial officers. We are also continuing to improve our internal controls over financial reporting.

Ensuring that we have effective disclosure controls and procedures and internal controls over financial reporting in place so that we can produce accurate financial statements on a timely basis is a costly and time-consuming effort that will need to be re-evaluated frequently. Our internal controls over financial reporting will be a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP. Beginning with our second annual report on Form 20-F after we become a company whose securities are publicly listed in the United States, we will be required, pursuant to Section 404 of the Sarbanes-Oxley Act, to make a formal assessment of the effectiveness of our internal controls over financial reporting, and once we cease to be an emerging growth company, we will be required to include an attestation report on internal controls over financial reporting issued by our Independent Registered Public Accounting Firm. During our evaluation of our internal controls, if we identify one or more material weaknesses in our internal controls over financial reporting, we will be unable to assert that our internal controls over financial reporting are effective. We cannot assure you that there will not be material weaknesses or significant deficiencies in our internal controls over financial reporting in the future. Any failure to maintain internal controls over financial reporting could severely inhibit our ability to accurately report our financial condition, or results of operations.

***Investors may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing actions against us or our directors named in the prospectus based on foreign laws.***

The Company is incorporated under the laws of the Cayman Islands and a majority of our directors and officers reside outside the United States. Moreover, many of these persons do not have significant assets in the United States. As a result, it may be difficult or impossible to effect service of process within the United States upon these persons, or to recover against us or them on judgments of U.S. courts, including judgments predicated upon the civil liability provisions of the U.S. federal securities laws. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands, Malaysia, or other relevant jurisdictions may render you unable to enforce a judgment against our assets or the assets of our directors and officers.

There is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of United States courts obtained against us or our directors or officers to impose liabilities predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States; or (ii) entertain original actions brought in the Cayman Islands against us or our directors or officers predicated upon the federal securities laws of the United States or the securities law of any state in the United States. Ogier, our counsel with respect to the laws of the Cayman Islands, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers that are predicated upon the civil liability provisions of the federal securities laws of the United States or the securities laws of any state in the United States, or (2) entertain original actions brought in the Cayman Islands against us or our directors or officers that are predicated upon the federal securities laws of the United States or the securities laws of any state in the United States.

Ogier further advised us that there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands will in certain circumstances recognize and enforce a foreign judgment, without any re-examination or re-litigation of matters adjudicated upon, provided such judgment:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is
 given by a foreign court of competent jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;(b) imposes
 on the judgment debtor a liability to pay a liquidated sum for which the judgment has been
 given;

&nbsp;&nbsp;&nbsp;&nbsp;(c) is
 final;

&nbsp;&nbsp;&nbsp;&nbsp;(d) is
 not in respect of taxes, a fine or a penalty;

&nbsp;&nbsp;&nbsp;&nbsp;(e) was
 not obtained by fraud; and

&nbsp;&nbsp;&nbsp;&nbsp;(f) is
 not of a kind the enforcement of which is contrary to natural justice or the public policy
 of the Cayman Islands.

Subject to the above limitations, in appropriate circumstances, a Cayman Islands court may give effect in the Cayman Islands to other kinds of final foreign judgments such as declaratory orders, orders for performance of contracts and injunctions. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

Cheah Teh Su, our counsel as to the laws of Malaysia, has advised us that there is uncertainty as to whether the courts of Malaysia would (i) recognize or enforce judgments of United States courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States or (ii) entertain original actions brought in Malaysia against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States. It further advised us that that the enforcement of a foreign judgment in Malaysia could be effected through either statutory enforcement or the common law rule of enforcement. Under the Reciprocal Enforcement of Judgments Act 1958 of Malaysia ("**REJA**"), judgments given by superior courts of reciprocating countries, as listed in the First Schedule to the REJA are recognized and may be enforced directly or summarily by way of registration of the judgment provided that such judgments satisfy the requirements as specified under the REJA. Foreign judgments obtained in countries other than the countries listed in the First Schedule to REJA, have to be enforced through the common law rule. Although the United States is not a reciprocating country listed in the First Schedule to the REJA, a judgment pronounced in the United States may be enforced in Malaysia pursuant to common law principles provided that such foreign judgments must fulfil certain conditions which include, amongst others, (a) the judgment was not obtained by fraud; (b) the enforcement of the judgment would not be contrary to public policy in Malaysia; and (c) the original court granting the judgment had jurisdiction in the action. As a result, there is uncertainty as to the enforceability in Malaysia, in original actions or in actions for enforcement, of judgments of United States courts of civil liabilities predicated solely upon the federal securities laws of the United States or the securities laws of any State or territory within the United States.

***The laws of the Cayman Islands relating to the protection of the interest of minority shareholders are different from those in the United States.***

Our corporate affairs are governed by our memorandum and articles of association (as may be amended from time to time), by the Companies Act and by the common law of the Cayman Islands. The rights of shareholders to take action against our directors, action by minority shareholders and the fiduciary responsibilities of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from English common law, the decisions of whose courts are of persuasive authority, but are not binding on a court in the Cayman Islands. The rights of our shareholders and the fiduciary responsibilities of our directors under Cayman Islands law are different from what they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws as compared to the United States, and certain states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law. In addition, Cayman Islands companies may not have standing to initiate a shareholders derivative action in a Federal court of the United States.

Shareholders of Cayman Islands exempted companies like us have no general rights under Cayman Islands law to inspect corporate records (other than the memorandum and articles of association and any special resolutions passed by such companies, and the register of mortgages and charges of such companies) or to obtain copies of lists of shareholders of these companies. Our directors have discretion under our memorandum and articles of association that will continue to be effective upon closing of this Offering to determine whether or not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged to make them available to our shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.

***We are an emerging growth company within the meaning of the Securities Act and may take advantage of certain reduced reporting requirements.***

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We are an "emerging growth company," as defined in the JOBS Act, and we may take advantage of certain exemptions from requirements applicable to other public companies that are not emerging growth companies, including, most significantly, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act for so long as we remain an emerging growth company. As a result, if we elect not to comply with such auditor attestation requirements, our investors may not have access to certain information they may deem important.

The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. We do not plan to "opt out" of such exemptions afforded to an emerging growth company. As a result of this election, our financial statements may not be comparable to those of companies that comply with public company effective dates.

***We qualify as a foreign private issuer and, as a result, we will not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that permit less detailed and less frequent reporting than that of a U.S. domestic public company.***

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Upon the effectiveness of the registration statement of which this prospectus is a part, we will report under the Exchange Act as a non-U.S. company with foreign private issuer status. Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including (i) the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act; (ii) the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and (iii) the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8-K upon the occurrence of specified significant events. In addition, our officers, Directors and principal Shareholders are exempt from the reporting and "short-swing" profit recovery provisions of Section 16 of the Exchange Act and the rules thereunder. Effective March 18, 2026, our executive officers and directors are required, pursuant to the Holding Foreign Insiders Accountable Act, to file Section 16(a) reports with the SEC to disclose their beneficial ownership of our securities. Our 10% shareholders who are not officers or directors, however, remain exempt from Section 16(a) reporting requirements. Therefore, our Shareholders may not know on a timely basis when such persons purchase or sell our Class A Ordinary Shares. In addition, foreign private issuers are not required to file their annual report on Form 20-F until one hundred twenty (120) days after the end of each fiscal year, while U.S. domestic issuers that are accelerated filers are required to file their annual report on Form 10-K within seventy-five (75) days after the end of each fiscal year. Foreign private issuers also are exempt from Regulation Fair Disclosure, aimed at preventing issuers from making selective disclosures of material information. As a result of the above, you may not have the same protections afforded to shareholders of companies that are not foreign private issuers.

If we lose our status as a foreign private issuer, we would be required to comply with the Exchange Act reporting and other requirements applicable to U.S. domestic issuers, which are more detailed and extensive than the requirements for foreign private issuers. We may also be required to make changes in our corporate governance practices in accordance with various SEC and Nasdaq rules. The regulatory and compliance costs to us under U.S. securities laws if we are required to comply with the reporting requirements applicable to a U.S. domestic issuer may be significantly higher than the cost we would incur as a foreign private issuer. As a result, we expect that a loss of foreign private issuer status would increase our legal and financial compliance costs and would make some activities highly time consuming and costly. We also expect that if we were required to comply with the rules and regulations applicable to U.S. domestic issuers, it would make it more difficult and expensive for us to obtain and maintain directors and officers liability insurance, and we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These rules and regulations could also make it more difficult for us to attract and retain qualified members of our Board of Directors.

***We may lose our foreign private issuer status in the future, which could result in significant additional costs and expenses.***

 ****

As discussed above, we are a foreign private issuer, and therefore, we are not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act. The determination of foreign private issuer status is made annually on the last business day of an issuer's most recently completed second fiscal quarter. We would lose our foreign private issuer status if, for example, more than 50% of our Ordinary Shares are directly or indirectly held by residents of the United States and we fail to meet additional requirements necessary to maintain our foreign private issuer status. If we lose our foreign private issuer status on this date, we will be required to file with the SEC periodic reports and registration statements on U.S. domestic issuer forms, which are more detailed and extensive than the forms available to a foreign private issuer. We will also have to mandatorily comply with U.S. federal proxy requirements, and our officers, Directors, Executive Officers and Controlling Shareholder will become subject to the short-swing profit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, we will lose our ability to rely upon exemptions from certain corporate governance requirements under the Nasdaq rules. Effective March 18, 2026, our executive officers and directors are required, pursuant to the Holding Foreign Insiders Accountable Act, to file Section 16(a) reports with the SEC to disclose their beneficial ownership of our securities. Our 10% shareholders who are not officers or directors, however, remain exempt from Section 16(a) reporting requirements. As a U.S. listed public company that is not a foreign private issuer, we will incur significant additional legal, accounting and other expenses that we will not incur as a foreign private issuer, and accounting, reporting and other expenses in order to maintain a listing on a U.S. securities exchange.

***We do not expect to be subject to certain Nasdaq corporate governance rules applicable to U.S. listed companies.***

 ****

As a foreign private issuer, we are entitled to rely on a provision in Nasdaq's corporate governance rules that allows us to follow Cayman corporate law with regards to certain aspects of corporate governance. This allows us to follow certain corporate governance practices that differ in significant respects from the corporate governance requirements applicable to U.S. companies listed on Nasdaq.

In addition, our Audit Committee is not subject to additional Nasdaq requirements applicable to listed U.S. companies, including an affirmative determination that all members of the Audit Committee are "independent," using more stringent criteria than those applicable to the Company under relevant SEC rules. Nasdaq's corporate governance rules require listed U.S. companies to, among other things, seek shareholder approval for the implementation of certain equity compensation plans and issuances of shares, which the Company is not required to follow as a foreign private issuer. However, following this Offering, we will voluntarily have a majority of independent directors and our Audit Committee will consist of three independent directors.

***There can be no assurance that we will not be a passive foreign investment company, or PFIC, for United States federal income tax purposes for any taxable year, which could subject United States investors in the Ordinary Shares to significant adverse United States income tax consequences.***

In general, we will be treated as a PFIC for any taxable year in which either (1) at least 75% of our gross income (looking through certain 25% or more-owned subsidiaries) is passive income or (2) at least 50% of the average value of our assets (looking through certain 25% or more-owned subsidiaries) is attributable to assets that produce, or are held for the production of, passive income. Passive income generally includes, without limitation, dividends, interest, rents, royalties, and gains from the disposition of passive assets. If we are determined to be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder (as defined in "Material U.S. Federal Income Tax Considerations") of our securities, the U.S. Holder may be subject to increased U.S. federal income tax liability and may be subject to additional reporting requirements. The determination of whether we are a PFIC is a fact-intensive determination made on an annual basis applying principles and methodologies that in some circumstances are unclear and subject to varying interpretation. Our actual PFIC status for any taxable year will not be determinable until after the end of such taxable year. Accordingly, there can be no assurance with respect to our status as a PFIC for our current taxable year or any subsequent taxable year. We urge U.S. Holders to consult their own tax advisors regarding the possible application of the PFIC rules in light of their individual circumstances.

***We have broad discretion in the use of the net proceeds from this Offering and may not use them effectively.***

 ****

Our management will have broad discretion in the application of the net proceeds, including for any of the purposes described in the section entitled *"Use of Proceeds"* and in such order of priority as our management may determine in its discretion, and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this Offering, their ultimate use may vary substantially from their currently intended use. The failure by our management to apply these funds effectively could harm our business.

***We may regularly encounter potential conflicts of interest, and our failure to identify and address such conflicts of interest could adversely affect our business.***

 ****

We face the possibility of actual, potential, or perceived conflicts of interest in the ordinary course of our business operations. Conflicts of interest may exist between (i) our different businesses; (ii) us and our clients; (iii) our clients; (iv) us and our employees; (v) our clients and our employees, (vi) us and our Controlling Shareholder and their controlling entities, or (vii) our dealer-shareholders and our other shareholders. As we expand the scope of our business and our client base, it is critical for us to be able to timely address potential conflicts of interest, including situations where two or more interests within our businesses naturally exist but are in competition or conflict. We have put in place internal control and risk management procedures that are designed to identify and address conflicts of interest, including a procedure for presenting potential conflicts of interest to the Audit Committee of our Board of Directors. However, appropriately identifying and managing actual, potential, or perceived conflicts of interest is complex and difficult, and our reputation and our clients' confidence in us could be damaged if we fail, or appear to fail, to deal appropriately with one or more actual, potential, or perceived conflicts of interest. It is possible that actual, potential, or perceived conflicts of interest could also give rise to client dissatisfaction, litigation, or regulatory enforcement actions. Regulatory scrutiny of, or litigation in connection with, conflicts of interest could have a material adverse effect on our reputation, which could materially and adversely affect our business in a number of ways, including a reluctance of some potential clients and counterparties to do business with us. Any of the foregoing could materially and adversely affect our reputation, business, financial condition, and results of operations.

A conflict of interest occurs when an individual's private interest (or the interest of a member of his or her family or close friend(s) or business associate(s)) interferes, or even appears to interfere, with the interests of our company as a whole. A conflict of interest can arise when an employee, officer or director (or a member of his or her family or a close friend(s) or business associate(s)) takes actions or has interests that may make it difficult to perform his or her work for our Company objectively and effectively. Conflicts of interest also arise when an employee, officer or director (or a member of his or her family or close friend(s) or business associate(s)) receives improper personal benefits as a result of his or her position in our Company.

Directors and executive officers must seek determinations and prior authorizations or approvals of potential conflicts of interest exclusively from our Audit Committee. All other employees are required to approach our Chief Executive Officer or our Chief Financial Officer if they have any questions about reporting a suspected conflict of interest.

***If securities or industry analysts do not publish research or reports about our business, or if the publish a negative report regarding our Class A Ordinary Shares, the price of our Class A Ordinary Shares and trading volume could decline.***

 ****

The trading market for our Class A Ordinary Shares may depend in part on the research and reports that industry or securities analysts publish about us or our business. We do not have any control over these analysts. If one or more of the analysts who cover us downgrade us, the price of our Class A Ordinary Shares would likely decline. If one or more of these analysts cease coverage of our Company or fail to regularly publish reports on us, we could lose visibility in the financial markets, which could cause the price of our Class A Ordinary Shares and the trading volume to decline.

***Our dual-class voting structure may render our Class A Ordinary Shares ineligible for inclusion in certain stock market indices, and thus adversely affect the trading price and liquidity of our Class A Ordinary Shares.***

Certain shareholder advisory firms have announced changes to their eligibility criteria for inclusion of shares of public companies on certain indices, including the S&P 500, to exclude companies with multiple classes of shares and companies whose public shareholders hold no more than 5% of total voting power from being added to such indices. In addition, several shareholder advisory firms have announced their opposition to the use of multiple class structures. As a result, the dual class structure of our Class A Ordinary Shares may prevent the inclusion of our Class A Ordinary Shares in such indices and may cause shareholder advisory firms to publish negative commentary about our corporate governance practices or otherwise seek to cause us to change our capital structure. Any such exclusion from indices could result in a less active trading market for our Class A Ordinary Shares. Any actions or publications by shareholder advisory firms critical of our corporate governance practices or capital structure could also adversely affect the value of our Class A Ordinary Shares.

***Our dual-class voting structure will limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that holders of our Class A Ordinary Shares may view as beneficial.***

Upon completion of this Offering, we will have a dual class ordinary share structure. Our Ordinary Shares will be divided into Class A Ordinary Shares and Class B Ordinary Shares. Holders of Class A and Class B Ordinary Shares will have the same rights, including dividend rights, except that holders of Class A Ordinary Shares will be entitled to one vote per share, while holders of Class B Ordinary Shares will be entitled to twenty (20) votes per share, and Class B Ordinary Shares may be converted into the same number of Class A Ordinary Shares by the holders thereof at any time, while Class A Ordinary Shares cannot be converted into Class B Ordinary Shares under any circumstances.

Upon the completion of this Offering, the Controlling Shareholder will continue to beneficially own all of our Class B Ordinary Shares. These Class B Ordinary Shares will constitute approximately 6.67% of our total issued and outstanding share capital immediately after the completion of this Offering and approximately 58.82% of the aggregate voting power of our total issued and outstanding share capital immediately after the completion of this Offering due to the disparate voting powers associated with our dual-class share structure, assuming the Underwriter does not exercise the over-allotment option. As a result of the dual-class share structure and the concentration of ownership, holder of Class B Ordinary Shares, our Controlling Shareholder will have the ability to control the outcome of any corporate transaction or other matter submitted to the shareholders for approval, including the election of directors, amendment of organizational documents, and approval of major corporate transactions, such as a change in control, merger, consolidation, or sale of assets, and other significant corporate actions. Such holders may take actions that are not in the best interest of us or our other shareholders. This concentration of ownership may discourage, delay or prevent a change in control of our company, which could have the effect of depriving our other shareholders of the opportunity to receive a premium for their shares as part of a sale of our Company and may reduce the price of our Class A Ordinary Shares.

 ***Transfers of our Class B Ordinary Shares could result in a change of control without a premium being paid to holders of our Class A Ordinary Shares.***

Our Class B Ordinary Shares have twenty (20) votes per share and are held by our Controlling Shareholder and its ultimate beneficial owners. Due to the disproportionate voting rights attached to the Class B Ordinary Shares, holders of such shares have the ability to control the outcome of matters requiring shareholders' approval.

Subject to the terms of our Articles and applicable law, the holders of our Class B Ordinary Shares may transfer, sell or otherwise dispose of their Class B Ordinary Shares, including in transactions that result in a change of control of our company. Such a transaction could be effected without requiring the purchaser to make an offer to acquire the Class A Ordinary Shares, and without the payment of any control premium to holders of our Class A Ordinary Shares.

As a result, a person or group could obtain control of our Company by acquiring the Class B Ordinary Shares without providing holders of our Class A Ordinary Shares with the opportunity to receive a premium for their shares or to participate in such transaction. This may adversely affect the market price of our Class A Ordinary Shares and could result in holders of our Class A Ordinary Shares not realizing any value from a change of control that may otherwise have been available if such holders had equal voting rights or appraisal or tag-along rights.

***Our Controlling Shareholder has substantial influence over the Company. Its interests may not be aligned with the interests of our other shareholders, and it could prevent or cause a change of control or other transactions.***

Immediately upon completion of the offering, WLG Holdings Sdn. Bhd., our Controlling Shareholder, will own 15,800,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, being approximately 59.33% of our total and issued outstanding Ordinary Shares, representing approximately 82.06% of our total voting power (or approximately 57.89% of our total and issued outstanding Shares, representing approximately 81.16% of our total voting, if the underwriters option to purchase additional Class A Ordinary Shares is exercised in full). WLG Holdings Sdn. Bhd. is owned as to 50% each by Mr. Chu Hoon Weng, our Director and Chief Executive Officer, and Mr. Lim Seow Leong, our Director and Chief Technology Officer.

Accordingly, WLG Holdings Sdn. Bhd., or Mr. Chu or Mr. Lim through WLG Holdings Sdn. Bhd., could control the outcome of any corporate transaction or other matter submitted to the shareholders for approval, including mergers, consolidations, the election of directors and other significant corporate actions, including the power to prevent or cause a change in control. Without the consent of the Controlling Shareholder, we may be prevented from entering into transactions that could be beneficial to us or our minority shareholders. In addition, our directors and officers could violate their fiduciary duties by diverting business opportunities from us to themselves or others. The interests of our largest shareholder may differ from the interests of our other shareholders. The concentration in the ownership of our shares may cause a material decline in the value of our Class A Ordinary Shares. For more information regarding our principal shareholders and their affiliated entities, see "*Principal Shareholder*".

**SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements that involve risks and uncertainties. All statements other than statements of current or historical facts are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those listed under "*Risk Factors*," that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements.

In some cases, you can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "potential," "intend," "plan," "believe," "likely to" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include statements about:

● changes in political, social and economic conditions, the regulatory environment, laws and regulations and interpretation thereof in the jurisdictions where we conduct business or expect to conduct business;

● the risk that we may be unable to realize our anticipated growth strategies and expected internal growth;

● changes in the availability and cost of professional staff which we require to operate our business;

● changes in customers' preferences and needs;

● changes in competitive conditions and our ability to compete under such conditions;

● changes in our future capital needs and the availability of financing and capital to fund such needs;

● changes in currency exchange rates or interest rates;

● projections of revenue, profits, earnings, capital structure and other financial items;

● changes in our plan to enter into certain new business sectors; and

● other factors beyond our control.

You should read this prospectus and the documents that we refer to in this prospectus with the understanding that our actual future results may be materially different from and worse than what we expect. Other sections of this prospectus include additional factors which could adversely impact our business and financial performance. Moreover, we operate in an evolving environment. New risk factors and uncertainties emerge from time to time and it is not possible for our management to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.

You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in this prospectus relate only to events or information as of the date on which the statements are made in this prospectus. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should read this prospectus and the documents that we refer to in this prospectus and have filed as exhibits to the registration statement, of which this prospectus is a part, completely and with the understanding that our actual future results may be materially different from what we expect.

This prospectus also contains statistical data and estimates that we obtained from industry publications and reports generated by government or third-party providers of market intelligence. Although we have not independently verified the data, we believe that the publications and reports are reliable.

**USE OF PROCEEDS**

We estimate that we will receive net proceeds from this Offering of approximately $19.7 million, after deducting underwriting discounts, the non-accountable expense allowance and estimated offering expenses payable by us. These estimates are based upon an assumed Offering Price of $4.5 per share, the midpoint of the estimated range of the Offering Price shown on the front cover of this prospectus.

We intend to use the proceeds from this Offering in the following order of priority:

● Approximately 40% for technology infrastructure enhancement, including computer equipment, cloud infrastructure, software systems and data processing capabilities;

● Approximately 20% for geographical business expansion;

● Approximately 20% for business development, sales and product development activities; and

● Approximately 20% for working capital and other general corporate purposes.

To the extent that our actual net proceeds are not sufficient to fund all of the proposed purposes, we will decrease our allocation of the net proceeds for the purposes set out above on a pro rata basis. We would anticipate raising additional capital through equity or debt financing sufficient to fund our proposed uses above.

The amounts and timing of any expenditures will vary depending on the amount of cash generated by our operations, and the rate of growth, if any, of our business, and our plans and business conditions. The foregoing represents our current intentions based upon our present plans and business conditions to use and allocate the net proceeds of this Offering. Our management will have significant flexibility in applying and discretion to apply the net proceeds of the offering. If an unforeseen event occurs or business conditions change, we may use the proceeds of this Offering differently than as described in this prospectus.

Pending deployment of the net proceeds for the uses described above, the funds may be placed in short-term deposits with financial institutions or used to invest in short-term money market instruments.

**DIVIDEND POLICY**

We have no formal dividend policy. We currently intend to retain all available funds and any future earnings to fund the development and growth of our business and to repay any indebtedness and, therefore, we do not anticipate paying any cash dividends in the foreseeable future. Additionally, our ability to pay dividends on our Shares is limited by various factors such as our future financial performance and bank covenants. Any future determination to pay dividends will be at the discretion of our Board of Directors, subject to compliance with covenants in current and future agreements governing our and our subsidiary's indebtedness, and will depend on our results of operations, financial condition, capital requirements and other factors that our Board of Directors may deem relevant. Under Cayman Islands law, a Cayman Islands company may pay a dividend on its shares out of either profit or share premium, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business.

**CAPITALIZATION**

The following tables set forth our capitalization as of August 31, 2025:

● on an actual basis; and

● on a pro forma as adjusted basis to reflect the issuance and sale of 5,000,000 Class A Ordinary Shares at an assumed Offering Price of $4.5 per Class A Ordinary Share (the midpoint of the price range set forth on the cover page of this prospectus) after deducting the underwriting discounts, non-accountable expense allowance and estimated offering expenses payable by us.

You should read the tables together with our combined financial statements and the related notes included elsewhere in this prospectus and the information under "*Management's Discussion and Analysis of Financial Condition and Results of Operations*."

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| | | |
|:---|:---|:---|
|  | **As of February 28, 2026** | **As of February 28, 2026** |
|  | **Actual** | **Pro Forma**<br> **As Adjusted** |
|  | **(in US$)** | **(in US$)** |
| Cash | 207039 | 19904609 |
| Equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A Ordinary Shares, 23,000,000 Class A Ordinary Shares outstanding on an actual basis; and 28,000,000 Class A Ordinary Shares outstanding on an as adjusted basis<sup>(1)</sup> | 2300 | 19699870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B Ordinary Shares, 2,000,000 Class B Ordinary Shares outstanding on an actual basis; and 2,000,000 Class B Ordinary Shares outstanding on an as adjusted basis<sup>(1)</sup> | 200 | 200 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital<sup>(2)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Reserves | 103869 | 103869 |
| &nbsp;&nbsp;&nbsp;Accumulated comprehensive income | 1604261 | 1604261 |
| &nbsp;&nbsp;&nbsp;Total equity | 1710630 | 21408200 |
| Indebtedness: |  |  |
| &nbsp;&nbsp;&nbsp;Lease liabilities | 2070 | 2070 |
| &nbsp;&nbsp;&nbsp;Borrowings | 68309 | 68309 |
| &nbsp;&nbsp;&nbsp;Total Indebtedness | 70379 | 70379 |
| Total capitalization<sup>(2)</sup> | 1781009 | 21478579 |

---

(1) Pro
 forma additional paid in capital reflects the net proceeds we expect to receive, after deducting underwriting fee, the non-accountable
 expense allowance and other offering expenses. We expect to receive net proceeds of approximately $19.7 million (offering
 proceeds of $22.5 million, less underwriting discounts of $1.6 million, non-accountable expense allowance of $0.2
 million and offering expenses of $1.0 million).

(2) Each
 $1.00 increase (decrease) in the assumed Offering Price of $4.50 per Class A Ordinary Share, the mid-point of the estimated
 range of the Offering Price shown on the front cover of this prospectus, would increase (decrease) each of additional paid-in capital,
 total shareholders' equity and total capitalization by $5.0 million, assuming the number of Class A Ordinary Shares
 offered by us, as set forth on the front cover of this prospectus, remains the same and after deducting underwriting discounts, the
 non-accountable expense allowance and estimated offering expenses payable by us.

**DILUTION**

If you invest in our Class A Ordinary Shares, your interest will be diluted to the extent of the difference between the initial public offering price per share and our net tangible book value per share after this Offering. Dilution results from the fact that the initial public offering price per share is substantially in excess of the book value per ordinary share attributable to the existing Shareholders for our presently outstanding shares.

Net tangible book value represents the amount of our total assets, excluding goodwill and other intangible assets, less our total liabilities. Our net tangible book value as of February 28, 2026 was US$1,710,630, or US$0.07 per ordinary share.

After giving effect to the issuance and sale of 5,000,000 Class A Ordinary Shares in this Offering at an assumed Offering Price of US$4.50 per share (the midpoint of the estimated price range set forth on the cover of this prospectus), and after deducting underwriting discounts, the non-accountable expense allowance and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of February 28, 2026 would have been $0.71 per outstanding ordinary share. This represents an immediate increase in net tangible book value of $0.64 to existing shareholders and an immediate dilution in net tangible book value of $3.79 per ordinary share to investors purchasing Class A Ordinary Shares in this Offering. The following table illustrates such dilution:

---

| | | |
|:---|:---|:---|
|  | **Per Class A Ordinary Share** | **Per Class A Ordinary Share** |
| Assumed Offering Price |  | 4.50 |
| Net tangible book value as of February 28, 2026 |  | 0.07 |
| Pro forma net tangible book value after giving effect to this Offering |  | 0.71 |
| Amount of dilution in net tangible book value to investors in this Offering |  | 3.79 |

---

The following table summarizes, on a pro forma as adjusted basis as of February 28, 2026, the total number of Shares purchased from us, the total cash consideration paid to us, and the average price per share paid by existing Shareholders and by investors in this Offering. The table below reflects an assumed Offering Price of $4.5 per Class A Ordinary Share (the midpoint of the estimated price range set forth on the cover of this prospectus), for Class A Ordinary Shares purchased in this Offering and excludes underwriting discounts, the non-accountable expense allowance and estimated offering expenses payable by us.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** <br> **Purchased** | **Shares** <br> **Purchased** | **Total** <br> **Consideration** | **Total** <br> **Consideration** | **Average Price per Share** |
|  | **Number** | **%** | **US$** | **%** | **US$** |
| Existing Shareholders | 25000000 | 83 | 2500 | 1 | 0.0001 |
| Investors in this Offering | 5000000 | 17 | 22500000 | 99 | 4.5000 |
| Total | 30000000 | 100 | 22502500 | 100 | 0.7501 |

---

The dilution information in this section is presented for illustrative purposes only. Our as adjusted net tangible book value following the consummation of this Offering is subject to adjustment based on the actual Offering Price of our Class A Ordinary Shares and other terms of this Offering determined at pricing.

**SELECTED FINANCIAL AND OPERATING DATA**

We have historically conducted our business through our operating subsidiary in Malaysia, and therefore our historical consolidated financial statements present the results of operations of our operating subsidiary in Malaysia. In advanced of the listing, we engaged in the Reorganization. Following the Reorganization, our financial statements presents the results of operations of 3Knights Dynamics Group Limited, the issuer in this Offering, and its consolidated subsidiary. 3Knights Dynamics Group Limited's financial statements is the same as our operating subsidiary's financial statements, as adjusted for the Reorganization. The Reorganization is reflected retroactively in our operating subsidiary's financial statements. See "*Our Corporate Structure and History*."

The following selected consolidated balance sheet data as of August 31, 2025 and 2024 and February 28, 2026, and selected consolidated statements of operations data for the years ended August 31, 2025 and 2024 and for the six months ended February 28, 2026, have been derived from our audited financial statements included elsewhere in this prospectus. Our combined financial statements are prepared and presented in accordance with IFRS. You should read this "*Selected Financial and Operating Data*" section together with our combined financial statements and the related notes and the "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" section included elsewhere in this prospectus.

---

| | | | |
|:---|:---|:---|:---|
| | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | |
| <br>**Consolidated Statement Of Financial Position:** | **2025**<br>**(Audited)**<br>**Amount (USD)** | **2024**<br>**(Audited)**<br>**Amount (USD)** | **For the six months <br> ended February 28,**<br>**2026**<br>**(Unaudited)**<br>**Amount (USD)** |
| **Non-Current Assets** |  |  |  |
| Property, plant and equipment | 10948 |  | 1724776 |
| Right-of-use assets | 12506 | 33229 | 1940 |
| Deferred tax asset | 434 | 2300 | - |
|  | 23888 | 35529 | 1726716 |
| **Current Assets** |  |  |  |
| Trade receivables, net | 643855 | 917946 | 683851 |
| Other receivables | 7545 | 6888 | 438723 |
| Cash and bank balances | 475280 | 357 | 207039 |
|  | 1126680 | 925191 | 1329613 |
| **Total Assets** | 1150568 | 960720 | 3056329 |
| **EQUITY AND LIABILITIES** |  |  |  |
| **Equity** |  |  |  |
| Class A Ordinary Shares | 2300 | 2300 | 2300 |
| Class B Ordinary Shares | 200 | 200 | 200 |
| Merger reserve | 2192 | 2192 | 2192 |
| Foreign currency translation reserve | (4643) | 7481 | 101677 |
| Retained earnings | 717164 | 87565 | 1604261 |
| Total Equity | 717213 | 99738 | 1710630 |
| **Non-Current Liabilities** |  |  |  |
| Lease liabilities |  | 12837 |  |
| Borrowings | 22420 |  | 20471 |
| Deferred tax liabilities | - | - | 5835 |
|  | 22420 | 12837 | 26306 |
| **Current Liabilities** |  |  |  |
| Trade payables | 232794 | 616677 | 235013 |
| Other payables | 19599 | 165120 | 777992 |
| Amount due to Directors | 91957 | 37071 | 252816 |
| Lease liabilities | 13113 | 20856 | 2070 |
| Borrowings | 46548 |  | 47838 |
| Tax payable | 6924 | 8421 | 3664 |
|  | 410935 | 848145 | 1319393 |
| **Total Liabilities** | 433355 | 860982 | 1345699 |
| **Total Equity and Liabilities** | 1150568 | 960720 | 3056329 |

---

***Fiscal Years Ended August 31, 2025 and 2024***

---

| | | |
|:---|:---|:---|
| | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
| <br>**Consolidated Statement of Profit or Loss and Other Comprehensive Income:** | **2025**<br>**(Audited)**<br>**Amount (USD)** | **2024**<br>**(Audited)**<br>**Amount (USD)** |
| Revenues, net | 6350558 | 921530 |
| Cost of revenues | (4625746) | (683327) |
| Gross profit | 1724812 | 238203 |
| Other income | 4391 | 1 |
| General and administrative expenses | (202407) | (141939) |
| Profit from operations | 1526796 | 96265 |
| Finance costs | (2890) | (1013) |
| Profit before tax | 1523906 | 95252 |
| Income tax expense | (5714) | (5639) |
| **Profit for the financial year** | **1518192** | **89613** |
| **Other comprehensive income** |  |  |
| Items that are or may be reclassified subsequently to profit or loss |  |  |
| Exchange translation differences | (12124) | 7481 |
| Total comprehensive income for the financial year | **1506068** | **97094** |
| **Earnings per share** |  |  |
| Basic earnings per share (sen) | 0.06 | 0.00 |
| Diluted earnings per share (sen) | 0.06 | 0.00 |

---

***Six Months Ended February 28, 2026 and 2025***

---

| | | |
|:---|:---|:---|
| | **For the six months ended February 28,** | **For the six months ended February 28,** |
| <br>**Consolidated Statement Of Profit Or Loss And Other Comprehensive Income:** | **2026**<br>**(Unaudited)**<br>**Amount (USD)** | **2025**<br>**(Unaudited)**<br>**Amount (USD)** |
| Revenues, net | 7770247 | 2352493 |
| Cost of revenues | (4750769) | (1945846) |
| Gross profit | 3019478 | 406647 |
| Other income | 52 | 4937 |
| General and administrative expenses | (408652) | (61307) |
| Profit from operations | 2610878 | 350277 |
| Finance costs | (5155) | (986) |
| Profit before tax | 2605723 | 349291 |
| Income tax expense | (6004) | (2881) |
| **Profit for the financial year** | **2599719** | **346410** |
| **Other comprehensive income** |  |  |
| *Items that are or may be reclassified subsequently to profit or loss* |  |  |
| Exchange translation differences | 106320 | (8271) |
| Total comprehensive income for the financial year | **2706039** | **338139** |
| **Earnings per share** |  |  |
| Basic earnings per share (sen) | 0.10 | 0.01 |
| Diluted earnings per share (sen) | 0.10 | 0.01 |

---

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes included elsewhere in this prospectus. This discussion contains forward-looking statements reflecting our current expectations that involve risks and uncertainties. See "Disclosure Regarding Forward-Looking Statements" for a discussion of the uncertainties, risks and assumptions associated with these statements. Actual results and the timing of events could differ materially from those discussed in our forward-looking statements as a result of many factors, including those set forth under "Risk Factors" and elsewhere in this prospectus.*

**Overview**

We conduct our business through our wholly owned subsidiary, 3Knights, an Artificial Intelligence (AI) technology consultant, specializing in AI-driven digital transformation, data analytics, and systems integration. We focus on delivering customized, project-based AI and digital transformation solutions that help enterprises enhance efficiency, improve decision-making, and strengthen customer engagement through intelligent automation in Malaysia region.

Our service offerings encompass the full AI implementation lifecycle, including AI strategy and consulting, data engineering, model development and integration, and deployment and user training. Our projects are typically designed to meet each client's specific operational requirements and are integrated with existing enterprise systems such as ERP, CRM, and IoT platforms.

Our customers are primarily small- and medium-sized enterprises in Malaysia. Revenue is derived mainly from project-based service contracts, although we have increasingly begun generating maintenance and recurring services revenue from completed AI implementations. Our operating performance can fluctuate depending on the number and timing of projects completed during a period.

Through the delivery of multiple AI and system integration projects, we have developed a project framework and reusable AI modules that form the foundation for new client implementations. These frameworks allow us to improve scalability, shorten development cycles, and enhance cost efficiency. Management believes these operational efficiencies position us to support sustainable revenue growth; however, our ability to maintain profitability depends on continued demand for AI-based solutions and efficient resource utilization.

In April 2022, the MDEC granted us MSC Malaysia status (now known as MD status). On July 5, 2024, the Ministry of Finance of Malaysia, through MDEC, approved a five-year income tax exemption for qualifying income derived from AI-related activities, effective from April 2, 2024, to April 1, 2029. These incentives are expected to strengthen our financial position during the incentive period, although their continuation depends on compliance with MDEC program requirements.

We plan to allocate a portion of the net proceeds from this Offering to invest in the development of proprietary AI solution frameworks aimed at supporting a product-based offering that could generate recurring revenues, similar to enterprise software or platform-based models. These initiatives remain in the planning stage and have not yet commenced. Management believes that, if successfully implemented, these initiatives could complement our existing project-based services and enhance our long-term competitiveness, though they are subject to execution and market risks.

Our future performance will depend on our ability to expand our customer base, maintain project delivery efficiency, attract and retain qualified technical personnel, and adapt to evolving technology trends and government policies that affect the digital economy in Malaysia and Southeast Asia.

**Industry Context**

We operate within the AI and digital transformation sector in Southeast Asia, which has experienced increasing adoption of cloud technologies, data analytics, and automation solutions in recent years. According to publicly available reports from regional government and industry agencies, digital transformation initiatives in Malaysia are expanding under the MyDIGITAL Blueprint and the Malaysia Madani Economy framework, which aim to enhance national productivity and competitiveness through technology adoption.

The Malaysian government's focus on fostering an innovation-driven economy has encouraged greater private sector investment in AI and automation. Enterprises, particularly small and medium-sized businesses, are seeking localized and cost-effective AI solutions that can be integrated into their existing systems to improve operational efficiency and customer engagement.

Within this environment, demand for AI implementation and integration services continues to grow as organizations increasingly adopt data-driven decision-making. However, the industry remains competitive and sensitive to technological shifts, availability of skilled talent, and data governance regulations.

Management believes that our experience in developing scalable AI frameworks and our focus on efficient project delivery may enable us to respond effectively to these trends and compete in this evolving market, though there can be no assurance that such initiatives will result in future growth or profitability.

**Key Factors that Affect our Financial Condition and Results of Operations**

We believe the following key factors may affect our financial condition and results of operations:

1. Project
 Mix and Timing

Our revenue is primarily derived from project-based service contracts. The number, size, and timing of projects in any given period can significantly affect our results of operations. Larger projects generally contribute higher revenue but may extend over several months, while smaller projects are completed more quickly but in greater volume. Because we recognize revenue based on project milestones and customer acceptance under IFRS 15, variations in project delivery schedules can result in fluctuations in revenue and gross margin between reporting periods.

2. Utilization
 of Technical and Development Resources

Our profitability depends on the efficiency of deploying our technical teams and subcontracted personnel across multiple projects. Effective resource allocation directly impacts project margins, while underutilization or rework can reduce gross profit in a given period. Management monitors utilization rates and adjusts staffing and outsourcing levels to maintain operational flexibility.

3. Development
 Efficiency and Reusability of Core Frameworks

Over time, we have developed a reusable codebase and standardized AI frameworks that form the foundation for new client implementations. These frameworks shorten development cycles and support consistent quality. Management believes that our ability to continually improve and apply these frameworks across projects enhances both scalability and cost efficiency.

4. Tax
 Incentives under the MDEC

In April 2022, our Malaysian subsidiary obtained MSC Malaysia status (now known as MD status) from the MDEC. On July 5, 2024, the Ministry of Finance, through MDEC, approved a five-year income tax exemption for qualifying income derived from AI-related activities, effective from April 2, 2024, through April 1, 2029. The incentive applies only to qualifying AI-related revenue, while other income remains subject to Malaysia's statutory tax rates. Management believes the incentive will enhance our net profitability and cash flow during the incentive period, although it is subject to ongoing compliance with MDEC program conditions and will expire in 2029 unless renewed.

5. Investment
 in Future Growth

While we have not yet commenced formal development activities, we intend to allocate a portion of the proceeds from this Offering toward the design and development of proprietary AI frameworks and related solution components that may support a future product-based revenue model. The timing and effectiveness of these initiatives, as well as the pace of technology adoption among our target customers, may influence our future operating results.

Management continuously monitors these factors to evaluate operational performance and adjust project planning, staffing, and resource allocation as necessary.

**Results of Operations for the fiscal years ended August 31, 2025 and 2024**

The following table sets forth a summary of our results of operations for the fiscal years indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Revenue | 6350558 | 100% | 921530 | 100% | 5429028 | 589% |
| Cost of sales | (4625746) | (73)% | (683327) | (74)% | (3942419) | 577% |
| **Gross profit** | **1724812** | **27%** | **238203** | **26%** | **1486609** | **624%** |
| Other income | 4391 | 0% | 1 | 0% | 4390 | 439000% |
| General and administrative expenses | (202407) | (3)% | (141939) | (15)% | (60468) | 43% |
| **Profit from operations** | **1526796** | **24%** | **96265** | **10%** | **1430531** | **1486%** |
| Finance costs | (2890) | (0)% | (1013) | (0)% | (1877) | 185% |
| **Profit before tax** | **1523906** | **24%** | **95252** | **10%** | **1428654** | **1500%** |
| Income tax expenses | (5714) | (0)% | (5639) | (1)% | (75) | 1% |
| **Net income** | **1518192** | **24%** | **89613** | **10%** | **1428579** | **1594%** |

---

***Revenue***

The following table sets forth our revenue stream for the fiscal years indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Revenue from AI related projects | 6312124 | 99% | 916990 | 100% | 5395134 | 588% |
| Revenue from other sources | 38434 | 1% | 4540 | 0% | 33894 | 747% |
| **Total revenue** | **6350558** | **100%** | **921530** | **100%** | **5429028** | **589%** |

---

Our total revenue increased by USD 5,429,028, or 589%, to USD 6,350,558 for the fiscal year ended August 31, 2025 from USD 921,530 for the fiscal year ended August 31, 2024. The increase was primarily attributable to (i) an increase in the number of AI-related system implementation projects undertaken during the year and (ii) a significant increase in the average contract value of these projects. During fiscal year ended August 31, 2025, we undertook 11 AI implementation projects, compared to 10 projects undertaken in fiscal year August 31, 2024.

The average contract value per project increased significantly, from approximately USD92,000 per project in fiscal year ended August 31, 2024 to approximately USD574,000 per project in fiscal year ended August 31, 2025. This increase was primarily attributable to an expansion in project scope and a change in our project delivery structure. In fiscal year 2024, certain project-related components, including hardware procurement, data APIs and cloud infrastructure, were typically arranged and paid for directly by our clients. Beginning in fiscal year 2025, we increasingly assumed responsibility for procuring and coordinating these components directly with third-party vendors and service providers as part of our project delivery process. In addition, project scopes expanded to include a broader range of deliverables, including infrastructure provisioning, data integration and system deployment services. These changes enabled faster project implementation, improved coordination of technical resources and greater control over integration timelines, while also resulting in higher overall contract values and corresponding increases in both revenue and cost of sales.

Revenue from AI-related projects increased substantially by USD 5,395,134, or 588%, to USD 6,312,124 for the fiscal year ended August 31, 2025 from USD 916,990 for the fiscal year ended August 31, 2024. Revenue from AI-related projects represented approximately 99% of our total revenue in fiscal year 2025, compared to substantially all of our total revenue in fiscal year 2024, and therefore continue to represent the core component of our business. These projects primarily involve the development, integration and deployment of customized AI systems, including predictive analytics and natural-language-processing implementations for enterprise clients.

Under IFRS 15 *Revenue from Contracts with Customers*, we recognize revenue over time as performance obligations are satisfied, generally based on milestone completion and client acceptance testing. Because project size and completion timing can vary, our quarterly and annual revenue may fluctuate depending on when projects reach the acceptance stage.

Revenue from other sources, consisting mainly of web-development services and domain-hosting renewals, represented approximately 1 % of total revenue in the fiscal year ended August 31, 2025.

While management believes that demand for AI-related projects remains strong, the significant year-over-year increase in the fiscal year ended August 31, 2025 was primarily related to the timing of project completions and is not necessarily indicative of future growth rates.

***Cost of sales***

The following table sets forth our cost of sales by nature of expense for the fiscal years indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Subcontractor wages | 1536620 | 24% |  | -% | 1536620 | 100% |
| Data acquisition and API related costs | 1329162 | 21% | 42700 | 5% | 1286462 | 3013% |
| Cloud infrastructure | 974465 | 15% |  | -% | 974465 | 100% |
| Hardware costs | 696155 | 11% | 562697 | 61% | 133458 | 24% |
| Director remuneration | 76043 | 1% | 24186 | 3% | 51857 | 214% |
| Staff costs | 9340 | 0% | 53573 | 6% | (44233) | (83)% |
| Other costs | 3961 | 0% | 171 | 0% | 3790 | 2216% |
| **Total cost of sales** | **4625746** | **73%** | **683327** | **74%** | **3942419** | **577%** |

---

Our total cost of sales increased by USD 3,942,419, or 577%, to USD 4,625,746 for the fiscal year ended August 31, 2025 from USD 683,327 for the fiscal year ended August 31, 2024.

The increase was primarily due to the higher number of AI implementation projects completed during the year and a change in project delivery structure, under which the Company began contracting directly with third-party vendors and service providers.

In the prior year, many of these costs were borne directly by customers; beginning in 2025, the Company assumed direct control over such arrangements to accelerate project delivery and ensure consistency in quality and communication.

<u>Subcontractor Wages</u>

Subcontractor wages increased by USD 1,536,620, or 100 %, to USD 1,536,620 for the fiscal year ended August 31, 2025 from nil for the fiscal year ended August 31, 2024.

This category represents payments to external technical specialists and implementation partners engaged for software development, integration, testing, and deployment of customized AI systems.

The increase was mainly due to the Company's strategy of outsourcing project-specific technical resources to meet growing demand and to maintain flexibility in response to fluctuating project volumes. Management adopted this approach to efficiently manage delivery schedules and resource allocation, especially as project scopes and timelines vary across engagements. This reliance on subcontracted manpower is consistent with the decrease in internal staff costs, reflecting a shift toward variable cost structures during a period of rapid growth.

Looking ahead, management intends to gradually expand in-house technical capabilities as project flow becomes more predictable, with the goal of optimizing cost efficiency and retaining institutional expertise

<u>Data Acquisition and API-Related Costs</u>

Data acquisition and API-related costs increased by USD 1,286,462, or 3,013%, to USD 1,329,162 for the fiscal year ended August 31, 2025 from USD 42,700 for the fiscal year ended August 31, 2024.

These costs consist primarily of (i) fees paid to third-party providers for access to external datasets and research data APIs used in our AI implementation projects, and (ii) integration and deployment services required to integrate external datasets and API connections into customer-specific systems. These costs include monthly API license fees that vary based on the volume of permitted API calls, as well as project-related purchases of market research reports and datasets used for model training and solution development.

The increase in fiscal 2025 reflects our transition from relying on client-provided data licenses and access arrangements in fiscal 2024 to procuring these resources directly in fiscal 2025, which enabled faster deployment, improved control over integration timelines, and reduced dependency on customer-side licensing arrangements. In addition, the increase was driven by the significantly larger scale and complexity of AI implementation projects in fiscal 2025, which required higher volumes of data processing and API utilization.

<u>Cloud infrastructure</u>

Cloud infrastructure costs increased by USD974,465, or 100%, to USD974,465 for the fiscal year ended August 31, 2025 from nil for the fiscal year ended August 31, 2024.

Cloud infrastructure costs consist primarily of fees paid to third-party cloud service providers for compute resources and cloud storage used to develop, test, train and deploy our AI solutions. These compute costs include charges for general-purpose virtual machines, compute-optimized and high-memory virtual machines, and, where required for machine-learning workloads. Cloud infrastructure costs also include storage charges (object storage, block storage and backup/cold storage), data transfer and bandwidth/egress charges, as well as infrastructure services such as load balancing and autoscaling capacity buffers used to support production deployments and varying customer workloads.

The increase in fiscal 2025 was primarily attributable to (i) the significant increase in the number and scale of AI implementation projects undertaken during the year, (ii) increased compute and storage requirements for model training, testing and deployment, and (iii) a change in cost responsibility whereby we procured certain cloud resources directly in fiscal 2025 rather than having customers procure these services under their own cloud accounts in fiscal 2024.

<u>Hardware Costs</u>

Hardware costs increased by USD 133,458, or 24%, to USD 696,155 for the fiscal year ended August 31, 2025 from USD 562,697 for the fiscal year ended August 31, 2024.

Hardware costs include procurement of servers, networking equipment, and related installation for client projects.

The increase corresponds to a greater number of projects requiring on-premise or hybrid system deployment environments.

<u>Director Remuneration</u>

Director remuneration increased by USD 51,857, or 214%, to USD 76,043 for the fiscal year ended August 31, 2025 from USD 24,186 for the fiscal year ended August 31, 2024.

This item represents fees paid to executive directors directly involved in project oversight and delivery. The increase was consistent with the higher volume of projects requiring senior management supervision

<u>Staff Costs</u>

Staff costs decreased by USD 44,233, or 83 %, to USD 9,340 for the fiscal year ended August 31, 2025 from USD 53,573 for the fiscal year ended August 31, 2024.

The decline reflects the Company's greater reliance on subcontracted personnel to support project execution, which provides flexibility in managing labor costs amid uncertain project timing and volume. Management expects to gradually increase permanent headcount in technical and project management roles as the business continues to grow and recurring project opportunities stabilize.

**Gross profit**

Gross profit increased by USD1,486,609, or 624 %, to USD1,724,812 for the fiscal year ended August 31, 2025 from USD 238,203 for the fiscal year ended August 31, 2024.

The increase was primarily attributable to the significant growth in revenue from AI-related implementation projects, which more than offset the higher costs of sales recorded during the period.

The Company's gross profit margin remained broadly stable at approximately 27 % for the fiscal year ended August 31, 2025, as compared to 26 % for the fiscal year ended August 31, 2024.

Despite the substantial increase in project volume, margin stability was achieved through disciplined project cost management, effective resource allocation, and improved operational efficiency from enhanced control over subcontractors and direct vendor relationships.

***Other income***

The following table sets forth the breakdown of our other income for the fiscal years indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Interest income | 30 | 0% | 1 | 0% | 29 | 2900% |
| Reversal of provision for expected credit loss | 4361 | 0% | - | -% | 4361 | 100% |
| **Total other income** | **4391** | **0%** | **1** | **0%** | **4390** | **439000%** |

---

Other income increased by USD4,390, or 439,000%, to USD4,391 for the fiscal year ended August 31, 2025 from USD 1 for the fiscal year ended August 31, 2024.

The significant increase was mainly due to the reversal of provision for expected credit losses amounting to USD4,361 during the fiscal year ended August 31, 2025. The reversal was primarily attributable to improved collection trends and a reduction in overdue trade receivables, resulting in lower expected default rates compared to the previous year.

Other income items are incidental and non-recurring in nature, and therefore are not expected to have a material impact on the Company's overall operating performance going forward.

***General and administrative expenses***

The following table sets forth the breakdown of our general and administrative expenses for the fiscal years indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Director remuneration | 125062 | 2% | 34093 | 4% | 90969 | 267% |
| Depreciation of right-of-use asset | 20836 | 0% | 8058 | 1% | 12778 | 159% |
| Staff related costs | 15685 | 0% | 87137 | 9% | (71452) | (82)% |
| Bank charges | 5455 | 0% | 86 | 0% | 5369 | 6243% |
| Professional fee | 5207 | 0% | 2742 | 0% | 2465 | 90% |
| Donation | 16103 | 0% |  | -% | 16103 | 100% |
| Travelling, office and utilities | 8533 | 0% | 704 | 0% | 7829 | 1112% |
| Depreciation of property, plant and equipment | 1217 | 0% |  | -% | 1217 | 100% |
| Provision for expected credit loss |  | -% | 8404 | 1% | (8404) | (100)% |
| Other administrative expenses | 4309 | 0% | 715 | 0% | 3594 | 503% |
| **Total general and administrative expenses** | **202407** | **3%** | **141939** | **15%** | **60468** | **43%** |

---

Total general and administrative expenses increased by USD 60,468, or 43%, to USD 202,407 for the fiscal year ended August 31, 2025 from USD 141,939 for the fiscal year ended August 31, 2024**.**

The increase was mainly attributable to higher director remuneration and depreciation charges during the fiscal year ended August 31, 2025, partly offset by a decline in staff-related costs and the absence of expected credit loss provision.

<u>Key Movements</u>

● **Director remuneration** increased by USD 90,969, or 267%, to USD 125,062 for the fiscal year ended
 August 31, 2025 from USD34,093 for the fiscal year ended August 31, 2024. The increase primarily
 reflects additional remuneration paid to directors in line with increased project volume,
 expanded managerial responsibilities, and overall business growth.

● **Depreciation of right-of-use assets** increased by USD 12,778, or 159%, to USD 20,836 for the fiscal
 year ended August 31, 2025 from USD 8,058 for the fiscal year ended August 31, 2024. The
 increase was primarily due to the office lease that commenced in April 2024, resulting in
 only five months of depreciation being recognized in the prior fiscal year.

● **Staff-related costs** decreased by USD 71,452, or 82%, to USD 15,685 for the fiscal year ended August
 31, 2025 from USD 87,137 for the fiscal year ended August 31, 2024. The decline was due to
 the Company's strategic shift toward outsourcing technical manpower to subcontractors
 to better manage costs and respond to fluctuating project demand. This is consistent with
 management's approach to maintaining operational flexibility while gradually building
 in-house capabilities as project pipelines stabilize.

● **Bank charges** increased by USD 5,369, or 6,243%, to USD 5,455 for the fiscal year ended August
 31, 2025 from USD 86 for the fiscal year ended August 31, 2024, primarily due to a one-off
 loan processing fee in the fiscal year ended August 31, 2025.

● **Professional fees** increased by USD 2,465, or 90%, to USD 5,207 for the fiscal year ended August 31,
 2025 from USD 2,742 for the fiscal year ended August 31, 2024, primarily due to higher audit,
 accounting, and secretarial fees in line due to higher volume of transactions in the fiscal
 year ended August 31, 2025.

● **Donation** amounted to USD 16,103 for the fiscal year ended August 31, 2025 compared to nil in the
 prior year, representing one-time corporate social responsibility contributions.

● **Travelling, office, and utilities** expenses increased by USD 7,829, or 1,112%, to USD 8,533 for the
 fiscal year ended August 31, 2025 from USD 704 for the fiscal year ended August 31, 2024.
 The increase was mainly driven by higher travelling, office upkeep, and utility expenses
 following the commencement of office rental in April 2024 and higher project activities.

● **Depreciation of property, plant, and equipment** amounted to USD 1,217 for the fiscal year ended August
 31, 2025 compared to nil in the prior year, reflecting new asset acquisitions to support
 ongoing operations.

● **Provision for expected credit loss** decreased by USD 8,404, or 100%, as no additional provision
 was required in the fiscal year ended August 31, 2025 compared to the fiscal year ended August
 31, 2024, following improved collections.

***Finance costs***

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **Variance** | **Variance** |
|  | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **% of total revenue** | **Amount** <br> **(USD)** | **%** |
| Lease liability expenses | 1642 | 0% | 1013 | 0% | 629 | 62% |
| Loan interest | 1248 | 0% | - | -% | 1248 | 100% |
| **Total finance costs** | **2890** | **0%** | **1013** | **0%** | **1877** | **185%** |

---

Total finance costs increased by USD 1,877, or 185%, to USD 2,890 for the fiscal year ended August 31, 2025 from USD 1,013 for the fiscal year ended August 31, 2024.

The increase was primarily attributable to higher lease-related interest and the commencement of loan interest charges during the fiscal year:

● **Lease liability expenses** increased by USD 629, or 62%, to USD 1,642 for the fiscal year ended
 August 31, 2025 from USD 1,013 for the fiscal year ended August 31, 2024. The increase was
 mainly due to the recognition of a full year of lease interest expense following the commencement
 of the office lease in April 2024. In the prior fiscal year, only five months of lease-related
 interest were recognized.

● **Loan interest** amounted to USD 1,248 for the fiscal year ended August 31, 2025, compared to
 none in the prior fiscal year. The expense arose from two short-term loan drawdowns completed
 in July 2025 and August 2025 to support working capital requirements and business expansion.

Overall, the increase in finance costs reflects the Company's expanded operational scale and financing activities undertaken to support continued business growth.

***Provision for Income Taxes***

Our provision for income taxes was USD 5,714 for the fiscal year ended August 31, 2025, an increase of USD 75 from USD 5,639 for the fiscal year ended August 31, 2024.

The slight increase was primarily due to taxable income generated from non–AI-related business activities that are not covered under the Company's MDEC tax incentive.

Our subsidiary, 3Knights, is subject to the income tax laws of Malaysia. Under the Income Tax Act 1967, companies incorporated in Malaysia are generally subject to a statutory corporate income tax rate of 24%. However, small and medium-sized enterprises (SMEs) with paid-up capital of MYR 2.5 million or less and annual gross income not exceeding MYR 50 million are eligible for a reduced tax rate of 15% on the first MYR 150,000 (approximately USD 37,500) of taxable income and 17% on the next MYR 450,000 (approximately USD 112,500), with the remaining taxable income subject to the 24% rate.

The Company obtained approval from the Ministry of Finance, through MDEC in April 2024 for granting income tax exemption on qualifying income derived from AI-related services for a specified incentive period.

Accordingly, for the fiscal year ended August 31, 2024, only revenue and profit generated after April 2024 from qualifying AI-related projects were exempted, resulting in a partial tax benefit.

For the fiscal year ended August 31, 2025, the Company benefited from a full-year effect of the tax exemption, with income tax expenses incurred only on non–AI-related revenue streams, such as website setup and hosting services.

The Company's effective tax rate for both fiscal years remained significantly lower than the statutory tax rate, primarily due to the impact of the MDEC tax holiday on qualifying AI-related income

***Net Income***

Net income increased by USD 1,428,579 or 1,594%, to USD 1,518,192 for the fiscal year ended August 31, 2025 from USD 89,613 for the fiscal year ended August 31, 2024.

The significant increase was primarily attributable to a substantial rise in revenue generated from AI-related projects, as the Company expanded its project portfolio and improved operational efficiency during the fiscal year ended August 31, 2025. The increase in revenue more than offset the corresponding growth in cost of sales and operating expenses.

In addition, the improvement in profitability was supported by stronger project execution margins, reflecting better cost control, optimized subcontracting arrangements, and enhanced resource allocation efficiency. The full-year recognition of the MDEC tax exemption on qualifying AI-related income, effective from April 2024, also contributed to the higher net income in the fiscal year ended August 31, 2025.

As a result, the Company's net profit margin improved to 24% for the fiscal year ended August 31, 2025, compared to 10% in the prior fiscal year, reflecting the scalability of its project-based business model, and the favorable impact of tax incentives on overall profitability.

**Results of Operations for the six months ended February 28, 2026 and 2025**

The following table sets forth a summary of our results of operations for the periods indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Revenue | 7770247 | 100% | 2352493 | 100% | 5417754 | 230% |
| Cost of sales | (4750769) | (61)% | (1945846) | (83)% | (2804923) | 144% |
| **Gross profit** | **3019478** | **39%** | **406647** | **17%** | **2612831** | **643%** |
| Other income | 52 | 0% | 4937 | 0% | (4885) | (99)% |
| General and administrative expenses | (408652) | (5)% | (61307) | (3)% | (347345) | 567% |
| **Profit from operations** | **2610878** | **34%** | **350277** | **15%** | **2260601** | **645%** |
| Finance costs | (5155) | (0)% | (986) | (0)% | (4169) | 423% |
| **Profit before tax** | **2605723** | **34%** | **349291** | **15%** | **2256432** | **646%** |
| Income tax expenses | (6004) | (0)% | (2881) | (0)% | (3123) | 108% |
| **Net income** | **2599719** | **33%** | **346410** | **15%** | **2253309** | **650%** |

---

***Revenue***

The following table sets forth our revenue stream for the periods indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Revenue from AI related projects | 5485284 | 71% | 2333245 | 99% | 3152039 | 135% |
| Maintenance and recurring services revenue | 2275341 | 29% |  | -% | 2275341 | 100% |
| Revenue from other sources | 9622 | 0% | 19248 | 1% | (9626) | (50)% |
| **Total revenue** | **7770247** | **100%** | **2352493** | **100%** | **5417754** | **230%** |

---

Our total revenue increased by USD 5,417,754, or 230%, to USD 7,770,247 for the six months ended February 28, 2026, from USD 2,352,493 for the six months ended February 28, 2025.

The increase in total revenue was primarily attributable to growth in AI-related project revenue, as well as the expansion of maintenance and recurring services revenue during the period.

Revenue from AI-related projects increased by USD 3,152,039, or 135%, to USD 5,485,284 for the six months ended February 28, 2026, compared to USD 2,333,245 for the corresponding prior period. This increase was mainly driven by (i) an expansion in the scale and scope of projects undertaken, including broader implementation components such as data integration, infrastructure provisioning and system deployment, and (ii) continued implementation of our delivery approach under which we assume greater responsibility for coordinating third-party infrastructure, cloud, API, and deployment components as part of our service offerings. As a result, revenue from AI-related projects represented approximately 71% of our total revenue for the six months ended February 28, 2026. During the six months ended February 28, 2026, we undertook 12 AI implementation projects, compared to 7 projects undertaken in six months ended February 28, 2025. The increase in revenue per project was primarily attributable to broader implementation scope, including infrastructure provisioning, cloud integration, data processing support, and ongoing deployment-related services.

Revenue from maintenance and recurring services amounted to USD 2,275,341, representing approximately 29% of total revenue for the six months ended February 28, 2026, compared to nil for the corresponding prior period. This category primarily consists of post-implementation services, including system maintenance, cloud hosting, data processing support, API usage, and other ongoing technical services provided to customers following the deployment of AI-related solutions. Many projects completed during fiscal year 2025 entered the post-implementation support and maintenance phase during the six months ended February 28, 2026, resulting in the commencement of recurring service revenue. The increase reflects the growing base of completed projects that transitioned into the support and maintenance phase, as well as our increasing involvement in managing infrastructure and service components as part of our delivery model.

Revenue from other sources, which consists primarily of web development services and domain hosting, decreased by USD 9,626, or 50%, to USD 9,622 for the six months ended February 28, 2026, from USD 19,248 for the corresponding prior period. This decrease was not material to our overall results of operations, as such revenue represented less than 1% of total revenue in both periods.

Under IFRS 15 *Revenue from Contracts with Customers*, we recognize revenue over time as performance obligations are satisfied, generally based on project milestones and customer acceptance. Maintenance and recurring services revenue is recognized over the service period as the related services are rendered. Accordingly, our revenue for any given interim period may be affected by the timing of project execution, milestone completion, and the commencement of post-implementation services, and the results for the six months ended February 28, 2026 are not necessarily indicative of results for the full fiscal year.

***Cost of sales***

The following table sets forth our cost of sales by nature of expense for the periods indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Subcontractor wages | 311453 | 4% | 825464 | 35% | (514011) | (62)% |
| Data acquisition and API related costs | 1235290 | 16% | 431527 | 18% | 803763 | 186% |
| Cloud infrastructure | 1124826 | 14% | 381455 | 16% | 743371 | 195% |
| Hardware costs | 1189475 | 15% | 276343 | 12% | 913132 | 330% |
| Director remuneration | 310176 | 4% | 23598 | 1% | 286578 | 1214% |
| Staff costs | 577877 | 7% | 5690 | 0% | 572187 | 10056% |
| Other costs | 1672 | 0% | 1769 | 0% | (97) | (5)% |
| **Total cost of sales** | **4750769** | **61%** | **1945846** | **83%** | **2804923** | **144%** |

---

Our total cost of sales increased by USD 2,804,923, or 144%, to USD 4,750,769 for the six months ended February 28, 2026 from USD 1,945,846 for the six months ended February 28, 2025.

The increase in cost of sales was primarily attributable to the higher volume and scale of AI-related projects undertaken during the period, as well as the continued evolution of our project delivery model, under which we increasingly assume responsibility for procuring and managing third-party components and resources required for project implementation.

As a percentage of total revenue, cost of sales decreased to approximately 61% for the six months ended February 28, 2026 from 83% for the corresponding prior period, primarily reflecting improved project cost management and operating leverage as revenue scaled.

<u>Subcontractor Wages</u>

Subcontractor wages decreased by USD 514,011, or 62%, to USD 311,453 for the six months ended February 28, 2026 from USD 825,464 for the six months ended February 28, 2025.

The decrease was primarily due to a shift toward greater utilization of in-house personnel, partially offsetting the overall increase in project-related costs.

<u>Data Acquisition and API-Related Costs</u>

Data acquisition and API-related costs increased by USD 803,763, or 186%, to USD 1,235,290 for the six months ended February 28, 2026 from USD 431,527 for the six months ended February 28, 2025.

The increase was primarily due to higher usage of third-party data services and APIs required to support larger and more complex AI implementation projects, as well as our increased role in directly procuring such services as part of project delivery.

<u>Cloud infrastructure costs</u>

Cloud infrastructure costs increased by USD 743,371, or 195%, to USD 1,124,826 for the six months ended February 28, 2026 from USD 381,455 for the six months ended February 28, 2025.

This increase was mainly attributable to higher compute and storage requirements associated with expanded project scope, including model training, deployment and ongoing system support, as well as a greater proportion of projects where we managed cloud resources directly.

<u>Hardware Costs</u>

Hardware costs increased by USD 913,132, or 330%, to USD 1,189,475 for the six months ended February 28, 2026 from USD 276,343 for the six months ended February 28, 2025.

The increase was primarily driven by a higher number of projects requiring on-premise or hybrid infrastructure deployment, as well as broader project scope that included hardware procurement as part of the overall solution.

<u>Director Remuneration</u>

Director remuneration increased by USD 286,578, or 1,214%, to USD 310,176 for the six months ended February 28, 2026 from USD 23,598 for the six months ended February 28, 2025..

This item represents fees paid to executive directors directly involved in project oversight and delivery. The increase was consistent with the higher volume of projects requiring senior management supervision

<u>Staff Costs</u>

Staff costs increased by USD 572,187, to USD 577,877 for the six months ended February 28, 2026 from USD 5,690 for the six months ended February 28, 2025.

The increase reflects the expansion of our internal technical and project delivery teams to support increased project activity, as well as a shift in resource allocation between internal staff and subcontracted personnel. Management believes the expansion of internal technical capabilities may support improved project delivery efficiency and resource coordination as business operations continue to scale.

**Gross profit**

Gross profit increased by USD 2,612,831, or 643%, to USD 3,019,478 for the six months ended February 28, 2026 from USD 406,647 for the six months ended February 28, 2025.

Gross profit margin increased to approximately 39% for the six months ended February 28, 2026 from approximately 17% for the six months ended February 28, 2025.

The increase in gross profit and gross profit margin was primarily attributable to revenue growth outpacing the increase in cost of sales, as well as improved cost efficiency resulting from changes in our project delivery model. During the six months ended February 28, 2026, we experienced greater operating leverage as higher-value projects were executed, allowing us to better absorb fixed and semi-fixed costs across a larger revenue base. The improvement in gross profit margin was also supported by a greater contribution from maintenance and recurring services revenue, which generally carried higher margins than certain hardware-intensive implementation projects.

In addition, the increased utilization of in-house personnel and improved coordination of third-party service providers contributed to improved cost control during the period. Management also believes that the continued expansion of internal technical capabilities and more efficient allocation of project resources contributed to improved project execution efficiency during the period.

While management believes that these factors contributed to the improvement in gross profit margin for the six months ended February 28, 2026, such margin levels may not be indicative of future performance, as they may be affected by the timing, scale, and mix of projects, as well as changes in cost structure and resource allocation.

***Other income***

The following table sets forth the breakdown of our other income for the periods indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Interest income | 52 | 0% | 4 | 0% | 48 | 1200% |
| Reversal of provision for expected credit loss | - | -% | 4933 | 0% | (4933) | (100)% |
| **Total other income** | **52** | **0%** | **4937** | **0%** | **(4885)** | **(99)%** |

---

Other income decreased by USD 4,885, or 99%, to USD 52 for the six months ended February 28, 2026 from USD 4,937 for the six months ended February 28, 2025.

The decrease was primarily attributable to the absence of a reversal of provision for expected credit losses in the six months ended February 28, 2026, compared to a reversal of USD 4,933 recorded in the six months ended February 28, 2025.

In the six months ended February 28, 2026, the Group recorded provision for expected credit loss of USD 7,670, which has been recognized within general and administrative expenses, reflecting updated aging analysis and credit risk assessment of receivables.

Other income items are incidental and non-recurring in nature, and therefore are not expected to have a material impact on the Company's overall operating performance going forward.

***General and administrative expenses***

The following table sets forth the breakdown of our general and administrative expenses for the periods indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Director remuneration | 310448 | 4% | 17595 | 1% | 292853 | 1664% |
| Depreciation of right-of-use asset | 11080 | 0% | 10308 | 0% | 772 | 7% |
| Staff related costs | 14767 | 0% | 3073 | 0% | 11694 | 381% |
| Bank charges | 168 | 0% | 96 | 0% | 72 | 75% |
| Donation |  | -% | 15932 | 1% | (15932) | (100)% |
| Travelling, office and utilities | 4537 | 0% | 9925 | 0% | (5388) | (54)% |
| Depreciation of property, plant and equipment | 57533 | 1% | 15 | 0% | 57518 | 383453% |
| Provision for expected credit loss | 7670 | 0% |  | -% | 7670 | 100% |
| Other administrative expenses | 2449 | 0% | 4363 | 0% | (1914) | (44)% |
| **Total general and administrative expenses** | **408652** | **5%** | **61307** | **3%** | **347345** | **567%** |

---

Total general and administrative expenses increased by USD 347,345, or 567%, to USD 408,652 for the six months ended February 28, 2026 from USD 61,307 for the six months ended February 28, 2025.

The increase was mainly attributable to higher director remuneration, increased depreciation charges, and higher staff-related costs during the six months ended February 28, 2026, partly offset by the absence of donation expenses and lower professional fees.

<u>Key Movements</u>

● **Director remuneration** increased by USD 292,853, or 1,664%, to USD 310,448 for the six months ended February 28, 2026 from USD 17,595 for
 the six months ended February 28, 2025. The increase primarily reflects additional remuneration paid to directors in line with increased
 project volume, expanded managerial responsibilities, and overall business growth.

● **Depreciation of right-of-use assets** increased by USD 772, or 7%, to USD 11,080 for the six months ended February 28, 2026 from USD 10,308
 for the six months ended February 28, 2025, primarily due to the continued recognition of lease-related depreciation.

● **Staff-related costs** increased by USD 11,694, or 381%, to USD 14,767 for the six months ended February 28, 2026 from USD 3,073 for the six months
 ended February 28, 2025. The increase was due to higher administrative and support staffing requirements in line with business expansion.

● **Donation** decreased by USD 15,932, or 100%, to nil for the six months ended February 28, 2026 from USD 15,932 for the six months ended
 February 28, 2025, representing one-time corporate social responsibility contributions.

● **Travelling, office, and utilities** decreased by USD 5,388, or 54%, to USD 4,537 for the six months ended February 28, 2026 from USD 9,925
 for the six months ended February 28, 2025, primarily due to more controlled spending and operational efficiencies.

● **Depreciation of property, plant, and equipment** increased by USD 57,518, to USD 57,533 for the six months ended February 28, 2026 from USD
 15 for the six months ended February 28, 2025, reflecting additional asset acquisitions to support ongoing operations and project
 delivery.

● **Provision for expected credit loss** amounted to USD 7,670 for the six months ended February 28, 2026 compared to nil for the six months
 ended February 28, 2025, reflecting a reassessment of receivables based on updated credit risk and aging analysis.

***Finance costs***

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026** | **2026** | **2025** | **2025** | | |
|  | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **Variance** | **Variance** |
|  | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **% of total revenue** | **Amount <br> (USD)** | **%** |
| Lease liability | 299 | 0% | 986 | 0% | (687) | (70)% |
| Term loan interest | 4856 | 0% | - | -% | 4856 | 100% |
| **Total finance costs** | **5155** | **0%** | **986** | **0%** | **4169** | **423%** |

---

Total finance costs increased by USD 4,169, or 423%, to USD 5,155 for the six months ended February 28, 2026 from USD 986 for the six months ended February 28, 2025.

The increase was mainly attributable to term loan interests incurred during the six months ended February 28, 2026, partly offset by lower lease liability expenses.

The increase was primarily attributable to higher lease-related interest and the commencement of loan interest charges during the six months period:

● **Lease liability expenses** decreased by USD 687, or 70%, to USD 299 for the six months ended February 28, 2026 from USD 986 for the six
 months ended February 28, 2025, primarily due to lower outstanding lease liabilities during the period.

● **Term loan interest** amounted to USD 4,856 for the six months ended February 28, 2026 compared to nil for the six months ended February
 28, 2025. The increase was primarily due to the utilization of term loan facilities during the period.

Overall, the increase in finance costs reflects the Company's expanded operational scale and financing activities undertaken to support continued business growth.

***Provision for Income Taxes***

Income tax expenses increased by USD 3,123, or 108%, to USD 6,004 for the six months ended February 28, 2026 from USD 2,881 for the six months ended February 28, 2025.

The increase was mainly attributable to higher deferred tax expenses recognized during the six months ended February 28, 2026 arising from temporary differences between the accounting and tax treatment of certain income and expenses.

The Company continues to benefit from the income tax exemption granted by the Ministry of Finance of Malaysia through MDEC, which applies to qualifying income derived from AI-related activities. As a result, current income tax payable remains limited, as a significant portion of the Company's income qualifies for tax exemption, while non-qualifying income remains subject to the prevailing statutory tax rate in Malaysia.

***Net Income***

Net income increased by USD 2,253,309, or 650%, to USD 2,599,719 for the six months ended February 28, 2026 from USD 346,410 for the six months ended February 28, 2025.

The increase was mainly attributable to higher profit from operations resulting from significant revenue growth and improved gross profit margin during the six months ended February 28, 2026, partly offset by higher general and administrative expenses and increased finance costs.

The Company's net profit margin increased to approximately 33% for the six months ended February 28, 2026 from approximately 15% for the six months ended February 28, 2025, primarily reflecting improved operating leverage as revenue increased.

**Liquidity and Capital Resources**

We were incorporated in the Cayman Islands as a holding company, and our Cayman Islands holding company did not have active business operations as of August 31, 2025, and as of the date of this prospectus. Our consolidated assets, liabilities, revenue, and net income primarily reflect the operations of our wholly owned subsidiary in Malaysia.

Our Malaysian subsidiary's ability to transfer funds to us in the form of loans, advances, or cash dividends is not materially restricted by regulatory provisions under Malaysian law. The subsidiary is generally free to remit divestment proceeds, profits, dividends, or other income arising from our investment in Malaysia, provided that such remittances are made in a foreign currency and comply with the Foreign Exchange Notices issued by Bank Negara Malaysia (the Central Bank of Malaysia). As of August 31, 2025 and 2024, the net assets of our Malaysian subsidiary were not subject to any restrictions, and no funds were transferred to the Cayman Islands holding company in the form of loans, advances, or cash dividends during those periods.

As of August 31, 2025, and as of the date of this prospectus, there were no cash transfers between our Cayman Islands holding company and our Malaysian subsidiary in the form of loans, advances, or cash dividends. All funds were retained and utilized by the Malaysian subsidiary for working capital purposes. We have not been notified of any restrictions that could limit the subsidiary's ability to deploy cash within Malaysia for operational needs.

***Cash and Receivables***

As of August 31, 2025, we had USD 475,280 in cash and bank balances, as compared to USD 357 as of August 31, 2024. The increase was primarily attributable to improved operating performance and higher cash generated from operating activities during the fiscal year ended August 31, 2025. As of February 28, 2026, we had cash and bank balances of USD 207,039. The decrease in cash and bank balances as compared to August 31, 2025 was primarily attributable to higher cash used in investing and financing activities during the period, partially offset by cash generated from operating activities.

We also had USD 651,400 and USD 924,834 in trade and other receivables as of August 31, 2025 and August 31, 2024, respectively. The decrease in trade and other receivables as of August 31, 2025 was primarily attributable to improved collections from customers during the fiscal year ended August 31, 2025. As of February 28, 2026, trade and other receivables amounted to USD 1,122,574, primarily reflecting increased project activity and the timing of milestone billings and collections from customers.

***Credit Risk and Receivable Concentration***

Our trade receivables are concentrated among a small number of customers. As of February 28, 2026, we had three (as of August 31, 2025, we had two and as of August 31, 2024, four) customers that accounted for 85% (as of August 31, 2025, 99% and as of August 31, 2024, 85%) of our total gross trade receivables. This concentration exposes us to potential cash-flow fluctuations and credit risks if collection timing changes or if any of these customers experiences financial difficulty.

Management continuously monitors the creditworthiness and payment behavior of key customers through periodic reviews and established credit control procedures. Our receivables are short-term in nature and are generally collected within normal credit terms. A provision for expected credit losses is recognized to reflect estimated recoverability risks. As of February 28, 2026, August 31, 2025 and 2024, the provision for expected credit losses on trade receivables amounted to USD 13,301, USD 4,830 and USD 9,120, respectively.

Management believes that the overall credit risk exposure remains manageable, supported by ongoing collection activities and the historically strong payment performance of these customers. Nevertheless, we remain vigilant in monitoring customer credit risk and maintaining adequate allowance levels in line with IFRS 9 requirements.

***Working Capital and Cash Flow Outlook***

As of August 31, 2025, our working capital balance amounted to approximately USD 715,745, compared to USD 77,046 as of August 31, 2024. The significant improvement in our working capital position was primarily attributable to higher trade receivables generated from increased business activities, along with stronger cash balances resulting from improved operating performance. As of February 28, 2026, our working capital position remained positive at USD 10,220. The decrease in working capital as compared to August 31, 2025 was primarily attributable to increased capital expenditures and repayment of financing obligations during the period.

In assessing our liquidity, management monitors and analyzes our cash on hand, our ability to generate sufficient revenue from operations, and our ongoing operating and capital expenditure commitments. Based on our current financial position and operating plans, management believes that our available cash and projected operating cash flows will be sufficient to meet our working capital and capital expenditure requirements for at least the next twelve months.

**Cash Flows Analysis for the Fiscal Years Ended August 31, 2025 and 2024**

The following table sets forth summary of our cash flows for the fiscal years indicated:

---

| | | |
|:---|:---|:---|
|  | **For the fiscal years ended August 31,** | **For the fiscal years ended August 31,** |
|  | **2025** | **2024** |
|  | **USD** | **USD** |
| Net cash from / (used in) operating activities | 1297580 | (24288) |
| Net cash used in investing activities | (11858) |  |
| Net cash (used in) from financing activities | (792591) | 24535 |
| Net (decrease)/increase in cash and cash equivalents | 493131 | 247 |
| Effect of exchange translation differences on cash and cash equivalents | (18208) | 27 |
| Net increase in cash | 474923 | 274 |
| Cash and cash equivalents, beginning of year | 357 | 83 |
| Cash and cash equivalents, end of year | 475280 | 357 |

---

***Operating Activities***

Net cash provided by operating activities was USD 1,297,580 for the fiscal year ended August 31, 2025, and primarily consisted of the following:

● profit before tax of USD 1,523,906 for the year;

● a decrease in trade and other receivable, net of USD 285,114;

● a decrease in trade and other payables of USD 530,900.

***Investing Activities***

Cash used in investing activities was USD 11,858 for the fiscal year ended August 31, 2025, which was related to purchases of property and equipment.

***Financing Activities***

Cash used in financing activities was USD 792,591 for the fiscal year ended August 31, 2025, which consisted of one-off dividend payment and payment of lease liabilities, offset by drawdown of term loans.

Cash provided by financing activities was USD 24,535 for the fiscal year ended August 31, 2024, which consisted of advances from directors, offset by payment of lease liabilities.

**Cash Flows Analysis for the six months ended February 28, 2026 and 2025**

---

| | | |
|:---|:---|:---|
|  | **For the six months ended February 28,** | **For the six months ended February 28,** |
|  | **2026**<br>**(Unaudited)** | **2025**<br>**(Unaudited)** |
|  | **USD** | **USD** |
| Net cash from operating activities | 2983967 | 135375 |
| Net cash used in investing activities | (1688156) | (467) |
| Net cash used in financing activities | (1590007) | (15379) |
| Net (decrease)/increase in cash and cash equivalents | (294196) | 119529 |
| Effect of exchange translation differences on cash and cash equivalents | 25955 | (1762) |
| Net (decrease)/increase in cash | (268241) | 117767 |
| Cash and cash equivalents, beginning of period | 475280 | 357 |
| Cash and cash equivalents, end of period | 207039 | 118124 |

---

***Operating Activities***

Net cash provided by operating activities was USD 2,983,967 for the six months ended February 28, 2026, and primarily consisted of the following:

● profit before tax of USD 2,605,723 for the six months period;

● an increase in trade and other receivable, net of USD 402,984;

● an increase in trade and other payables of USD 703,459.

***Investing Activities***

Cash used in investing activities was USD 1,688,156 for the six months ended February 28, 2026, which was related to purchase of property and equipment.

***Financing Activities***

Cash used in financing activities was USD 1,590,007 for the six months ended February 28, 2026, which consisted of one-off dividend payment and payment of lease liabilities and term loans.

**Contractual Obligation and Off-Balance Sheet Arrangements**

***Contractual Obligations***

We did not have material long-term contractual commitments as of August 31, 2025 relating to cloud infrastructure services, data acquisition and API-related services, or subscriptions for external AI tools. These costs are generally incurred under usage-based arrangements that do not require minimum purchase obligations, and we are typically able to adjust usage levels, change providers or discontinue services depending on project requirements and delivery timelines. Accordingly, our primary contractual commitments consist of our normal operating commitments such as lease obligations and borrowings. The following table summarizes our contractual obligations as of February 28, 2026 and August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | **On demand<br> within 1 year** | **1 to 2 years** | **Total** |
| <u>As of February 28, 2026</u> |  |  |  |
| Lease liabilities | 2082 |  | 2082 |
| Bank borrowings | 57336 | 23002 | 80338 |
|  | 59418 | 23002 | 82420 |
| <u>As of August 31, 2025</u> |  |  |  |
| Lease liabilities | 13413 |  | 13413 |
| Bank borrowings | 55708 | 27171 | 82879 |
|  | 69121 | 27171 | 96292 |

---

***Off-balance Sheet Arrangements***

We did not have any off-balance sheet arrangements as of August 31, 2025 and 2024 and February 28, 2026.

**Trend Information**

Other than as disclosed elsewhere in this prospectus, we are not aware of any trends, uncertainties, demands, commitments, or events that are reasonably likely to have a material effect on our net revenue, income from continuing operations, profitability, liquidity, or capital resources, or that would cause reported financial information not necessarily to be indicative of future operating results or financial condition.

**Inflation**

Inflation does not materially affect our business or the results of our operations.

**Seasonality**

We have not experienced any material seasonal fluctuations in our revenue or results of operations, and management does not believe our business is subject to seasonality.

**Critical Accounting Policies and Estimates**

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements. These financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"), which requires us to make estimates and assumptions that affect the reported amounts of our assets and liabilities and revenue and expenses, to disclose contingent assets and liabilities on the date of the financial statements, and to disclose the reported amounts of revenue and expenses incurred during the financial reporting period. We continue to evaluate these estimates and assumptions that we believe to be reasonable under the circumstances. We rely on these evaluations as the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. Some of our accounting policies require higher degrees of judgment than others in their application. We believe that the critical accounting policies as disclosed in this prospectus reflect the more significant judgments and estimates used in preparation of our financial statements. Furthermore, we have considered the transition requirements of IFRS and have made any necessary adjustments to comply with the effective dates of new or revised accounting standards. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements.

The following critical accounting policies rely upon assumptions and estimates and were used in the preparation of our consolidated financial statements:

***Uses of Estimates***

In preparing the consolidated financial statements in conformity with IFRS, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include the valuation of accounts receivable, revenue recognition, provision for income tax and foreign currency translation. Actual results could differ from those estimates.

***Accounts Receivable, Net***

Accounts receivable primarily consist of trade and other receivables. Accounts receivable are presented net of provision for expected credit loss. We use a provision matrix to calculate expected credit loss for trade receivables. The provision rates are based on number of days past due. The provision matrix is initially based on our historical observed default rates. The Group will calibrate the matrix to adjust the historical credit loss experience. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed. The assessment of the correlation between historical observed default rates, forecast economic conditions and expected credit loss is a significant estimate. Our historical credit loss experience and forecast of economic conditions may not be representative of customer's actual default in the future. As of February 28, 2026, August 31, 2025 and 2024, provision for expected credit loss amounted USD 13,301, USD 4,830 and USD 9,120, respectively.

***Revenue Recognition***

We recognize revenue in accordance with IFRS 15 *Revenue from Contracts with Customers* which establishes a five-step model for the recognition of revenue arising from contracts with customers: (i) identify the contract(s) with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) we satisfy the performance obligation.

We currently generate our revenue from the following main sources:

*<u>Revenue from services rendered</u>*

Revenue from service rendered is recognized over time in accordance with IFRS 15 *Revenue from Contracts with Customers* when our performance creates an asset that the customer controls as the asset is created or enhanced, or when our performance does not create an asset with an alternative use to the us and we have an enforceable right to payment for performance completed to date.

We measure progress towards satisfaction of its performance obligations using an output-based method, which reflects project milestones or deliverables specified in the customer contract. In practice, this means revenue is recognized when the relevant project milestone has been achieved and approved by the customer through a formal user acceptance testing ("UAT") sign-off.

We consider UAT sign-off as the point at which the customer has obtained control of the deliverable and the performance obligation for that milestone is satisfied.

Revenue from maintenance and recurring services is recognized over time in accordance with IFRS 15, as the related services are rendered. These services primarily consist of system maintenance, cloud hosting, data processing support, API usage, and other ongoing technical support services provided to customers following the deployment of AI-related solutions.

***Income Tax***

We account for current income taxes in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

An uncertain tax position is recognized only if it is "more likely than not" that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes were incurred during the fiscal years ended August 31, 2025 and 2024 and six months ended February 28, 2026. We do not believe there was any uncertain tax provision as of August 31, 2025 and 2024 and February 28, 2026.

Our operating subsidiary in Malaysia are subject to the income tax laws of Malaysia. No significant income was generated outside Malaysia for the fiscal years ended August 31, 2025 and 2024 and February 28, 2026. As of February 28, 2026, all of the tax returns of our Malaysian subsidiary remained open for statutory examination by relevant tax authorities.

***Foreign Currency Translation***

 ****

Our consolidated financial statements are presented in USD, which is our presentation currency, while the functional currency of our Malaysian operating subsidiary is the Malaysian Ringgit ("RM"). Assets and liabilities are translated at the exchange rate prevailing at the balance sheet date, and income and expense items are translated at the average exchange rate for the reporting period. Equity transactions are translated at historical rates. Translation differences are recognized in other comprehensive income.

For the fiscal years and six months period presented, the following exchange rates were used for translation purposes:

● Six
 months ended February 28, 2026 – average rate: MYR 4.0873 = USD 1.00; closing rate
 (February 28, 2026): MYR 3.8910 = USD 1.00

● Fiscal
 year ended August 31, 2025 – average rate: MYR 4.3471 = USD 1.00; closing rate (August
 31, 2025): MYR 4.2250 = USD 1.00

● Six
 months ended February 28, 2025 – average rate: MYR 4.3937 = USD 1.00; closing rate
 (February 28, 2025): MYR 4.4590 = USD 1.00

● Fiscal
 year ended August 31, 2024 – average rate: MYR 4.6838 = USD 1.00; closing rate
 (August 31, 2024): MYR 4.3160 = USD 1.00

Management believes that fluctuations in the MYR/USD exchange rate may affect the comparability of financial results reported in USD, though they do not affect the underlying business performance of our Malaysian operations.

***Recent Accounting Pronouncements***

We consider the applicability and impact of all accounting standards updates ("ASUs"). Management periodically reviews new accounting standards that are issued.

*Recently Adopted Accounting Pronouncements*

We have adopted all the amendments to standards issued by the International Accounting Standards Board ("IASB") which are relevant to the Company and are effective for annual financial period beginning on and after 1 October 2024.

*Recent Accounting Pronouncements Not Yet Adopted*

We have not applied the following new standards and amendments to standards that have been issued by the IASB but are not yet effective for the Company:

---

| | | |
|:---|:---|:---|
|  |  | *Effective Date* |
| Amendments to IFRS 9 and IFRS 7 | Amendments to the Classification and Measurement of Financial Instruments | 1 January 2026 |
| Amendments to IFRS 9 and IFRS 7 | Contract Referencing Nature-dependent Electricity | 1 January 2026 |
| Annual Improvements — Volume 11 | Annual Improvement to IFRS Accounting Standards - Volume 11 | 1 January 2026 |
| IFRS 18 | Presentation and Disclosure in Financial Statements | 1 January 2027 |
| IFRS 19 | Subsidiaries without Public Accountability: Disclosures | 1 January 2027 |
| Amendments to IFRS 10 and IAS 28 | Sales or Contribution of Assets between an Investor and its Associate or Joint Venture | Deferred until further notice |

---

The adoption of the above amendments and new standards is not expected to have a material impact on the financial position and financial performance of the Company except for the adoption of IFRS 18 which may result in changes to certain presentation and disclosure in the financial statements. However, it will not impact the recognition and measurement of items in the financial statements. IFRS 19, if adopted by the Company, simplifies the financial statements disclosures, while it has no impact on recognition and measurement of items in the financial statements.

 

**QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

**Inflation Risk**

Inflationary factors, such as increases in personnel and overhead costs, could impair our operating results. Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and operating expenses as a percentage of sales revenue if the revenues do not increase with such increased costs.

**Interest Rate Risk**

We are exposed to cash flow interest rate risk in relation to bank loans, bank overdrafts and a recourse receivables purchase facility with variable interest rates which is partially offset by bank balances held at variable rates. It is the Group's policy to keep its borrowings at variable rates at a minimum so as to minimize the fair value interest rate risk.

**Credit Risk**

We are potentially exposed to credit risks associated with deposits held in financial institutions. The aggregate amount of deposits in financial institutions exceeding the insurance limits set by Perbadanan Insurans Deposit Malaysia (PIDM) is RM 250,000 per depositor per bank, which may be at risk in the event of a financial institution default. We regularly assess and monitor credit risks associated with our deposit accounts. For credit risks related to trade and other receivables we maintain an allowance for expected credit losses on trade and other receivables which is determined based on historical credit loss experience, current economic conditions, and other relevant factors that may affect the collectability of receivables. We will continue to monitor the creditworthiness of our receivables.

Credit risk is controlled by the application of credit approvals, limits and monitoring procedures. We manage credit risk through regularly evaluating the collectability of financial assets, based on a combination of factors such as credit worthiness, past transaction history, current economic industry trends and changes in payment patterns. We identify credit risk collectively based on industry and customer type. In measuring the credit risk of our sales to our customers, we mainly reflect the "probability of default" by the customer on its contractual obligations and consider the current financial position of the customer and the current and likely future exposures to the customer.

**Liquidity Risk**

We are also exposed to liquidity risk, which is risk that we will be unable to provide sufficient capital resources and liquidity to meet our commitments and business needs. Our exposure to liquidity and cash flow risks arises primarily from mismatches of the maturities of financial assets and liabilities. It is our objective to maintain a balance between continuity of funding and flexibility through the internally generated funds. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. To manage liquidity risk, the Group monitors and maintains a level of cash and cash equivalents deemed adequate by the management to finance the Group's operations and mitigate the effects of fluctuations in cash flows.

The Group has secured financing arrangements with multiple parties for development and construction projects. The financings include a profit-sharing component and are interest bearing. These funds are secured by specific property units within the development project and are guaranteed by two directors and shareholders of the Company.

**Foreign Exchange Risk**

While our reporting currency is the U.S. dollar, almost all of our combined revenues and combined costs and expenses are denominated in Malaysia Ringgit. All of our assets are denominated in Malaysia Ringgit. As a result, we are exposed to foreign exchange risk as our revenues and results of operations may be affected by fluctuations in the exchange rate between the U.S. dollar and the Malaysia Ringgit. If the Malaysia Ringgit depreciates against the U.S. dollar, the value of our Malaysia Ringgit revenues, earnings and assets as expressed in our U.S. dollar financial statements will decline. We have not entered into any hedging transactions in an effort to reduce our exposure to foreign exchange risk.

**OUR CORPORATE STRUCTURE AND HISTORY**

***Corporate History***

3Knights Dynamics Group Limited, the issuer in this Offering (and also referred to in this prospectus as the "Company"), was incorporated in the Cayman Islands on October 8, 2025. The Company was authorized to issue 450,000,000 Class A Ordinary Shares with par value of US$0.0001 per share and 50,000,000 Class B Ordinary Shares with par value of US$0.0001 per share. On October 8, 2025, 1 Class A Ordinary Share was issued and allotted to an independent third party, which transferred the 1 Class A Ordinary Share to the Controlling Shareholder on October 10, 2025. On October 10, 2025, 1,499 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares were issued and allotted to the Controlling Shareholder. The Company is an exempted company registered and incorporated in the Cayman Islands as a holding company, and is not a Malaysian operating company. As a holding company with no material operations, we conduct our core business operations in Malaysia through our operating subsidiary, 3Knights, incorporated under the laws of Malaysia on September 1, 2021.

On December 19, 2025, the Company acquired the entire share capital of 3Knights from Mr. Chu and Mr. Lim. In consideration of the acquisition, the Company allotted and issued 22,998,500 Class A Ordinary Shares to the Controlling Shareholder (the "Share Swap"). Immediately after the Share Swap, 3Knights became wholly owned by the Company. On April 24, 2026, 2026, 5,000,000 and 2,200,000 Class A Ordinary Shares were transferred from the Controlling Shareholder to Minvescient Sdn. Bhd. and Maxvard Dynamic Sdn. Bhd., respectively.

The following diagram illustrates the ownership structure of the Company after giving effect to this Offering (assuming no exercise of their over-allotment option by the underwriters):

![](formdrsa_005.jpg)

We will be a "controlled company" as defined under the Nasdaq Stock Market Rules because, immediately after this Offering, assuming an offering size as set forth above, our Controlling Shareholder will own 15,800,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares, being approximately 59.33% of our total and issued outstanding Shares, representing approximately 82.06% of our total voting power (or approximately 57.89% of our total and issued outstanding Shares, representing approximately 81.16% of our total voting power, if the underwriters option to purchase additional Class A Ordinary Shares is exercised in full), and may have the ability to determine matters requiring approval by shareholders. As a result, our Controlling Shareholder will have the ability to control the outcome of certain matters submitted to shareholders for approval through its controlling ownership of the Company, such as the election of directors, amendments to our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. See "Risk Factors — Risks Related to our Class A Ordinary Shares — Our Controlling Shareholder has significant voting power and may take actions that may not be in the best interests of our other shareholders" for further information. However, even if we are deemed as a "controlled company," we do not intend to avail ourselves of the corporate governance exemptions afforded to a "controlled company" under the Nasdaq Stock Market Rules. See "Risk Factors — Risks Related to our Class A Ordinary Shares — We are a "controlled company" within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders."

Investors are purchasing securities of our holding company, 3Knights Dynamics Group Limited, instead of securities of our operating subsidiary, 3 Knights, through which our operations are conducted.

**BUSINESS**

**OVERVIEW**

We are a big data solutions provider headquartered in Kuala Lumpur, Malaysia using AI, analytics, and real-time insights. We started our operations in 2021 to provide technology consulting and analytics services in the areas of digital transformation, data analytics, and marketing strategy alignment, and have developed relationships with our customers, mainly located in Malaysia.

The Company principally offers (i) digital transformation strategy consulting services, (ii) data analytics services, and (iii) marketing strategy alignment services. The Company began delivering customized projects for enterprise clients across industries such as trading, manufacturing, retail and e-commerce. These engagements typically involved client-specific integration work and analytics delivery.

**Our Vision**

To be the leading big data solutions provider in Southeast Asia.

**Our Mission**

To deliver cutting-edge, user-centric big data solutions that drive innovation, efficiency, and growth for our clients.

**OUR COMPETITIVE STRENGTHS**

We believe the following competitive strengths differentiate us from our competitors:

***We have an experience management team with proven track record for execution and agility in delivery***

Our management team has extensive industry knowledge, which is led by Mr. Chu, our Chairman of the Board of Directors and Chief Executive Officer, who has more than 15 years of experience in the fields of information technology; and Mr. Lim, Director and Chief Technology Officer, who has more than 17 years of experience in the fields of sales and marketing. They both play a pivotal role in overseeing the overall business, strategic development and major decision-making within our Group. Our management team is further bolstered by a team of passionate developers, data scientists, and operations experts dedicated to delivering tailored solutions that transform raw data into actionable insights. Project teams are structured on a case-by-case basis, enabling quicker mobilization and resource allocation compared to larger organizations with more rigid processes. We firmly believe that under the leadership of our executive director and with the expertise from our staff, we are well-positioned to maintain competitiveness and capture market opportunities.

***Our customer base spans a diverse array of industries and organizations***

We cater to users in a diverse range of industries including trading, manufacturing, retail and e-commerce. Due to the nature of our solutions services business, our Group serves clients from a wide range of industries, which enable us to have solid cross-industry insights for advising our clients on business strategies and data management. We offer our clients practical strategies and anticipate their evolving requirements, ensuring they remain at the forefront of their respective industry.

***We offer comprehensive solutions customized to the needs of business owners and local markets with integrated service scope***

Since our establishment in 2021, we maintain a flexible and agile delivery model that can adapt to different client's requirements and offer comprehensive solutions customized to the needs of clients, rather than offering a one-size-fit-all product. Typically, our clients first require us to provide data collection, cleansing and analytics service during which we have the opportunity to understand our clients' business thoroughly. Upon the in-depth understanding of our clients' business, we will offer our digital transformation strategy consulting services, where we assess client digital capabilities and assist them in defining objectives, and developing implementation roadmaps, and marketing strategy alignment services using data insights, and potentially able to liaise and bridge various opportunities to our clients as we have a strong network in various industries as well as formulating long term strategies for them. In some projects, we also procure and deploy hardware and related systems supplementing our other services. We strive to offer our clients practical solutions which enable transformation of data collected into actionable business insights. Our extensive experience with Malaysian enterprises and regulatory requirements also enables us to provide context-specific advice and implementations in relation to the specific engagements. Our combined scope of service offerings on digital strategy development, data analytics, and marketing alignment also allow clients to address strategic, technical, and customer-facing challenges through a single service provider.

**OUR STRATEGIES**

Our aim is to accomplish our business objectives, further strengthen our market position and continue to be a leading big data solutions provider by pursuing the following key strategies:

**Expand into strategic overseas markets**

We expect the technology subscription market to experience robust growth in Southeast Asia, particularly in countries such as Singapore, Indonesia, and Vietnam. To position ourselves for this opportunity, we intend to take a measured approach by first leveraging our experience in Malaysia to establish a scalable business model that can be replicated in overseas markets. We plan to (i) conduct targeted market assessments in Singapore and Indonesia to evaluate regulatory frameworks, customer needs, and competitive dynamics in each jurisdiction, (ii) explore collaborations with local enterprises, system integrators, and technology distributors to accelerate market entry, reduce upfront costs, and build brand credibility, (iii) launch initial pilot projects with select customers in one or more of these markets, focusing on AI-driven data analytics and digital transformation solutions, before scaling into a broader customer base, (iv) selectively hire or contract local technical and business development personnel to support client delivery and relationship management in these markets, and (v) invest in research and development of a proprietary AI solution with subscription-based features, which will allow us to offer standardized, recurring products that are more easily deployed across multiple countries compared to bespoke projects. We expect that this strategic approach, beginning with pilot projects and partnerships before committing significant capital will help increase our revenues and market presence in Southeast Asia in a sustainable manner.

**Diversify the service portfolio and enhance service model**

We built a solid business model of provision of big data solutions tailored to different industries. With the experience and capital gained over the years, we plan to further diversify our service portfolio by including public sector projects and additional industry-specific analytics applications. We also intend to develop recurring service models such as managed analytics support or retainer-based advisory, to complement the existing project-based revenue model and improve revenue visibility.

**Increase investment in internal capabilities**

We plan to employ or engage by sub-contracting additional personnel to meet our growing needs. The plan includes recruitment of sales and marketing staff to build brand recognition and expand customer reach, the hiring of additional technical staff such as data scientists, engineers, and project managers to support increasing project demands, and the strengthening of our finance and accounting team to enhance internal controls and compliance. More resources will also be allocated to personnel training, cloud infrastructure, analytics tools and creating standardized project management frameworks internally (such as adopting structured methodologies, internal templates, and quality controls) to ensure consistency, efficiency, and scalability in project delivery. We also plan to invest in technology development to create proprietary analytics frameworks and deployment methodologies, which may be embedded into client solutions or licensed under project-specific terms.

**OUR BUSINESS**

We provide technology consulting and analytics services that are designed and tailored to address each client's business needs. We deliver customized projects for enterprise clients across industries such as trading, manufacturing, retail and e-commerce. These engagements typically involved client-specific integration work and analytics delivery, tailored to meet the operational, analytical and strategic requirements of each client.

Our primary offerings include:

● **Digital Transformation Strategy Consulting Services** 

We assist clients in assessing their existing digital capabilities, defining transformation objectives, and developing phased implementation roadmaps. These services often include conducting needs assessments, gap analyses, and benchmarking against industry best practices. Based on these findings, we work with clients to design strategies for modernizing legacy systems, adopting cloud and AI technologies, and aligning IT investments with long-term business objectives. Our consulting engagements are typically structured as fixed-fee projects with defined deliverables.

● **Data Analytics Services** 

We provide end-to-end analytics solutions, starting from data collection, cleansing, and integration across multiple sources. Using advanced statistical and AI techniques, we perform predictive and descriptive analytics to generate actionable insights for decision-making. Deliverables may include interactive dashboards, visualization tools, predictive models, and customized reports tailored to management and operational users. We also provide training sessions to ensure client teams can effectively use and interpret analytics outputs. Fees are usually charged on a project basis depending on scope and complexity.

● **Marketing Strategy Alignment Services** 

We help clients leverage analytics and digital tools to strengthen their marketing strategies. This may include mapping and optimizing customer journeys, designing targeted marketing campaigns, and integrating digital platforms with existing sales and marketing processes. In certain cases, we assist clients in deploying AI-powered tools, such as recommendation engines or customer segmentation models, to improve engagement and conversion. These services are often provided as part of a broader transformation or analytics engagement, generating consulting fees tied to project deliverables.

● **Hardware Procurement and Deployment** 

In some projects, we also procure and deploy hardware and related systems that support our consulting and analytics solutions. This may include servers, networking equipment, installation, and project-based technical support. Hardware procurement is not a standalone business line, but an enabling service that ensures seamless implementation of our technology solutions.

Through this integrated scope of offerings, we enable clients to address strategic, technical, and customer-facing challenges through a single service provider. Our business model emphasizes customized project delivery, with potential to evolve toward proprietary AI solutions and subscription-based revenues in the future.

In certain engagements, we also procure and deploy hardware and related systems to enable client digital initiatives. These deployments may include servers, networking equipment, installation, and project-based technical support.

**Service Contracts and Pricing Strategies**

We typically do not engage in long-term service contracts with the majority of our clients, including both individual clients and institutional clients. Instead, we offer our services on project-based. While our service scope is customized to our client needs, our written service contract generally includes terms such as the scope of work, total fee payable, the billing and payment terms, delivery and acceptance clauses (along with an user acceptance testing (UAT) form to be filled in by the client upon completion of each milestone), ownership of deliverables, client's responsibilities, term and termination clauses, limitation of liability, confidentiality clauses and governing law and jurisdiction.

Revenue from these projects is recognized over time as performance obligations are satisfied in accordance with IFRS 15. We measure progress toward completion using an output method based on achievement of contractual milestones, delivery of specified project deliverables and completion of client acceptance testing. Management believes this method appropriately reflects the transfer of services and value to customers throughout the project lifecycle.

Our clients are typically invoiced at fixed price upon achievement of specified contractual milestones.

Our directors are responsible for determining the price for our services. We adopt a fixed amount pricing approach, taking into account the following factors in determining the fees we charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) type, nature and detailed work scope of the service;

(ii) value, complexity and scale of the engagement;

(iii) future business opportunities;

(iv) reputation of the customer; and

(v) level of acceptance of the current market rates for
 similar service.

 ****

***Credit terms to clients***

We assess the credit risk of new clients prior to accepting engagements through a comprehensive process, which includes online searches, credit checks with industry peers and site visits. For existing clients, we conduct an annual credit assessment to review their credit limits and terms, taking into account factors such as their repayment history, historical transaction amounts and future economic conditions.

Our credit terms to clients are generally 30 days.

**CUSTOMERS**

Our customers are mainly IT companies engaging us for projects serving end-clients which are usually corporate entities in the trading, manufacturing, retail and e-commerce in Malaysia.

For the years ended August 31, 2025 and 2024, we had the following customers that accounted for more than 10% of our revenue:

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| | | |
|:---|:---|:---|
|  | **For the year ended** | **For the year ended** |
|  | **August 31, 2025** | **August 31, 2025** |
|  | **Amount (USD)** | **Percentage of<br> total revenue (%)** |
| Major customer(s) representing more than 10% of the Company's revenues |  |  |
| Customer A | 2134758 | 34% |
| Customer B | 1345725 | 21% |
| Customer C | 758803 | 12% |
| Customer D | 651261 | 10% |
| **Total** | 4890547 | 77% |

---

---

| | | |
|:---|:---|:---|
|  | **For the year ended**<br> **August 31,** **2024** | **For the year ended**<br> **August 31,** **2024** |
|  | **Amount (USD)** | **Percentage of**<br> **total revenue (%)** |
| Major customer(s) representing more than 10% of the Company's revenues |  |  |
| Customer B | 405653 | 44% |
| Customer C | 106751 | 12% |
| Customer E | 106750 | 12% |
| Customer F | 106750 | 12% |
| **Total** | 725904 | 79% |

---

For the six months ended February 28, 2026 and 2025, we had the following customers that accounted for more than 10% of our revenue:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended** | **For the six months ended** |
|  | **February 28, 2026** | **February 28, 2026** |
|  | **Amount (USD)** | **Percentage of**<br> **total revenue (%)** |
| Major customer(s) representing more than 10% of the Company's revenues |  |  |
| Customer A | 1712622 | 22% |
| Customer G | 1657573 | 21% |
| Customer H | 856311 | 11% |
| **Total** | 4226506 | 54% |

---

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| | | |
|:---|:---|:---|
|  | **For the six months ended**<br> **February 28, 2025** | **For the six months ended**<br> **February 28, 2025** |
|  | **Amount (USD)** | **Percentage of**<br> **total revenue (%)** |
| Major customer(s) representing more than 10% of the Company's revenues |  |  |
| Customer A | 614516 | 26% |
| Customer B | 532012 | 23% |
| Customer I | 527872 | 22% |
| Customer C | 400318 | 17% |
| **Total** | 2074718 | 88% |

---

Despite the fact that our top clients contributing to more than 10% of our revenue represented an aggregate of approximately 77% and 79% of our revenue for the years ended August 31, 2025 and 2024, and 54% and 88% of our revenue for the six months ended February 28, 2026 and 2025, respectively, the management team assessed the Company's relationship with these clients and concluded that (i) the agreements with these clients were entered into in the ordinary course of the Company's business and the forms of agreements constituting the entire relationship with these clients are ordinary course agreements for the Company; and (ii) the Company's business, operations, and profitability are not substantially dependent on any of the agreements with these clients, given that (a) the Company has not signed any long-term contract with these clients (b) the nature of the Company's business is project-based, therefore it would not rely on any single client for recurring revenue in the long run, and (iii) the loss of any one large client will not materially and adversely affect the Company's profitability or operation in the long term because of the Company's ability to attract new customers and to secure new projects from its existing clients.

We have entered into agreements with all of our top clients contributing to more than 10% of our revenue for the year ended August 31, 2025 and the six months ended February 28, 2026, with payment arrangement on milestone basis, thus of no specific term. The agreements are considered completed upon completion of service engaged, unless terminated for material breach, provided written notice of 30 days is given and breach concerned is not remedied. As at the date of this prospectus, all projects with our customers contributing to more than 10% of our revenue for the year ended August 31, 2025 and the six months ended February 28, 2026 and engaged during which have been completed, with aggregate fees paid of approximately USD 725,904 and USD 849,396, respectively.

***Sales and marketing***

We market our big data solutions services to prospective clients primarily by contacting them through our professional business network and business referrals, or communication initiated by our business development personnel responsible for information collection, marketing and sales activities and customer services. The team also actively supports existing clients and engages with prospective clients to assess and understand their requirements so that we can better cater to their needs. To actively promote our brand and service, our directors and project leaders regularly participate in industry conferences, seminars, and networking events, which provide opportunities to showcase our expertise, strengthen client relationships, and build visibility in the market.

**SUPPLIERS**

We have developed and maintained long-term relationships with four suppliers in Malaysia, principally offering (i) cloud infrastructure and software services, which include compute resources, GPU-accelerated instances, storage solutions, data transfer, and associated platform services used to process and host client data, (ii) third-party data and research content, comprising data scientists, software engineers, and UX/UI design and project management personnel engaged on a project basis to supplement internal capacity, and (iii) hardware and deployment equipment, such as servers, networking devices, storage equipment, and related installation, configuration, and project-based support. We also engage professional services of data scientists, software engineers, and UX/UI design and project management personnel as sub-contractors on a project basis to supplement internal capacity.

To ensure the suppliers can provide products or services meeting our requisite standards, we have developed a well-defined mechanism when selecting suppliers. We select suppliers and subcontractors primarily based on their technical capabilities, reliability, and prior working experience with the Company or its management. Given the specialized nature of our projects, we typically engage vendors who have a proven ability to deliver within the required technical scope and timeframe. In evaluating potential suppliers, we consider factors such as technical expertise, quality of past performance, delivery record, and cost reasonableness, and we negotiate the commercial terms directly prior to engagement. Ongoing performance monitoring and post-project evaluations are conducted to ensure compliance with our quality standards and to determine continued eligibility for future projects. Cloud services are generally obtained from leading global providers and their authorized regional distributors under commercial contracts. Sub-contracted personnels are generally sourced from local manpower firms and independent consultants in Malaysia. Data and research contents are generally procured from specialized research providers and global dataset distributors. Hardware and deployment equipment are generally sourced from established IT distributors and systems integrators in Malaysia.

For the years ended August 31, 2025 and 2024, we had the following suppliers that accounted for more than 10% of our total cost of sales:

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| | | |
|:---|:---|:---|
|  | **For the year ended** | **For the year ended** |
|  | **August 31, 2025** | **August 31, 2025** |
|  | **Amount (USD)** | **Percentage of total**<br> **cost of sales (%)** |
| Major supplier(s) representing more than 10% of the Company's purchases |  |  |
| Supplier A | 1329162 | 29% |
| Supplier B | 975960 | 21% |
| Supplier C | 974464 | 21% |
| Supplier D | 578508 | 13% |
| **Total** | 3858094 | 84% |

---

---

| | | |
|:---|:---|:---|
|  | **For the year ended** | **For the year ended** |
|  | **August 31, 2024** | **August 31, 2024** |
|  | **Amount (USD)** | **Percentage of total<br> cost of sales (%)** |
| Major supplier(s) representing more than 10% of the Company's purchases |  |  |
| Supplier D | 562697 | 82% |
| **Total** | 562697 | 82% |

---

For the six months ended February 28, 2026 and 2025, we had the following suppliers that accounted for more than 10% of our total cost of sales:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended** | **For the six months ended** |
|  | **February 28, 2026** | **February 28, 2026** |
|  | **Amount (USD)** | **Percentage of total**<br> **cost of sales (%)** |
| Major supplier(s) representing more than 10% of the Company's purchases |  |  |
| Supplier F | 1724855 | 36% |
| Supplier D | 1187737 | 25% |
| **Total** | 2912592 | 61% |

---

---

| | | |
|:---|:---|:---|
|  | **For the six months ended** | **For the six months ended** |
|  | **February 28, 2025** | **February 28, 2025** |
|  | **Amount (USD)** | **Percentage of total**<br> **cost of sales (%)** |
| Major supplier(s) representing more than 10% of the Company's purchases |  |  |
| Supplier E | 455197 | 23% |
| Supplier A | 431527 | 22% |
| Supplier C | 381455 | 19% |
| Supplier B | 293375 | 15% |
| Supplier D | 194824 | 10% |
| **Total** | 1756378 | 89% |

---

**SEASONALITY**

Our business historically has not been subject to seasonal fluctuations.

**COMPETITION AND INDUSTRY**

**Geographic Focus**

The Company's operations are currently based in Malaysia, and it primarily serves customers in Malaysia. The markets in which the Company operates are characterized by increasing digital adoption among enterprises, though market development remains subject to regional economic conditions and regulatory requirements.

**End Markets and Demand Drivers**

Customers are generally enterprises in various industries such as retail industry that are seeking to improve operational efficiency, decision-making, and customer engagement using digital and data-driven approaches. Demand is influenced by factors such as the growth of digital commerce, the increasing use of data analytics in marketing and operations, and the need to adapt business models to evolving consumer expectations.

**Industry definition and scope**

The Company participates in the Malaysia market for (i) digital transformation consulting and (ii) data and analytics services used to assess current digital capabilities, define objectives, develop implementation roadmaps, collect and cleanse data, perform advanced analytics, visualize findings, and align marketing strategies to data-driven customer journeys. These offerings are typically delivered as customized engagements to enterprise and public-sector clients rather than as standardized products.

**Market size and growth indicators**

Independent researchers estimate that Southeast Asia's digital transformation market was approximately US$27.9 billion in 2024 and could reach about US$91.0 billion by 2033, representing a CAGR of approximately 12.5%.<sup>1</sup>

Malaysia's broader digital economy continues to expand; one industry study indicates GMV rose from approximately US$22 billion for 2022) to approximately US$31 billion for 2024, with a 2030 range of approximately US$45 billion to US$70 billion, alongside significant inbound data center commitments supported by national policies.<sup>2</sup>

**Demand drivers and principal customers**

Demand is influenced by (i) enterprise digitization and cloud adoption, (ii) the need for first-party data activation, and (iii) management's focus on operational efficiency, risk management and compliant use of data. Regional interest in AI is rising; one Asia-Pacific survey reports approximately 43% of organizations plan to increase AI spending by more than 20% over the next 12 months, though maturity remains mixed. These are third-party survey findings and may not predict outcomes for any individual firm.<sup>3</sup>

**Prevailing trends**

Key trends include (i) rapid migration to cloud and data platforms (supported by large-scale hyperscaler investments and public policy initiatives), (ii) increased adoption of advanced analytics and early-stage generative AI use cases, and (iii) growing emphasis on first-party data, governance, and observability. As one example of infrastructure momentum, Malaysia's initiatives (e.g., Cloud-First and KL20) are cited as having attracted approximately US$15 billion of data center investments in the first quarter of 2024, according to a third-party country study the Company has not independently verified.<sup>4</sup>

**Challenges and risks**

Principal challenges include (i) talent availability and retention in data engineering, security and AI; (ii) regulatory fragmentation across Southeast Asia (privacy, cybersecurity, sectoral rules and cross-border data flow requirements); (iii) project-specific execution risks (data quality, integration complexity, change management); and (iv) competitive pressures from larger incumbents with greater resources. Studies also note funding cyclicality in the regional digital ecosystem, which can affect customer budgets and procurement pacing.<sup>5</sup>

<sup>1</sup> See imarc South East Asia Digital Transformation Market Size, Share, Trends and Forecast by Type, Deployment Mode, Enterprise Size, End Use Industry, and Country, 2025-2033

<sup>2</sup> <u>See e-Conomy SEA 2024 Profits on the rise, harnessing SEA's advantage</u>

<sup>3</sup> <u>See SAS Data and AI Pulse: Asia Pacific 2024</u>

<sup>4</sup> <u>See e-Conomy SEA 2024 Profits on the rise, harnessing SEA's advantage</u>

<sup>5</sup> <u>See e-Conomy SEA 2025 From Digital Decade to AI Reality: Accelerating the future in ASEAN</u>

**Obstacles to Achieving Objectives**

In pursuing its financial and strategic objectives, the Company may face several obstacles:

● **Resource constraints.** As a relatively small enterprise, the Company may have limited financial and human resources compared to larger, established competitors, which could affect its ability to scale operations quickly.

● **Talent acquisition and retention.** Sustained growth depends on the ability to attract and retain skilled personnel, particularly in data science, software engineering, and project management, where competition for qualified professionals is significant.

● **Reliance on subcontractors and vendors.** The Company's business model includes the use of subcontracted personnel and external vendors for cloud services, hardware, and deployment. Any disruption in these relationships, cost increases, or service quality issues could adversely affect project delivery and margins.

● **Services concentration and project timing.** Revenue is generated primarily from project-based engagements. Delays in project commencement, scope changes, or cancellations may lead to fluctuations in revenue and cash flows.

**Major Risks Facing the Business**

Management considers the following risks to be the most significant:

● **Competitive pressures.** The markets in which the Company operates are highly competitive and include multinational consulting firms, regional system integrators, and local specialists with greater resources or established client bases.

● **Rapid technological change.** The pace of development in cloud computing, analytics, and AI may require continuous investment and adaptation. The Company may not be able to anticipate or respond to technological changes in a timely and cost-effective manner.

● **Regulatory and compliance requirements.** Increasingly stringent data protection, cybersecurity, and cross-border data transfer regulations in Malaysia and Southeast Asia may increase compliance costs or limit the Company's ability to deliver services as currently structured.

● **Vendor dependency.** The Company relies on third-party providers such as cloud service operators and hardware suppliers. Pricing changes, outages, or contractual disputes with these vendors may impact the Company's cost structure or service delivery.

● **Economic conditions.** Demand for digital transformation and analytics services is influenced by general economic conditions, IT spending cycles, and availability of corporate budgets. A downturn in the Malaysian or regional economy could reduce client spending.

**Execution risks in expansion.** Entering new markets or launching new service models may require upfront investment and involve operational and regulatory risks. Expansion efforts may not achieve the intended results.

**Present outlook**

While independent forecasts point to continued digitization and analytics adoption across Southeast Asia, outcomes depend on macroeconomic conditions, regulatory developments, and technology execution. There is no assurance that industry growth rates cited by third parties will materialize, that customers will sustain current spending patterns, or that emerging AI capabilities will translate into consistent productivity gains.

**Emerging trends that could change the industry outlook**

● **Generative AI at scale.** If model quality, cost and governance improve, gen-AI could materially alter delivery models (e.g. code/analysis co-pilots, synthetic
data, automated personalization); conversely, unresolved risks (bias, IP, security) may constrain deployment.<sup>6</sup>

● **Cloud and data-center expansion.** Continued hyperscaler
investment could lower latency and expand access to advanced analytics/AI services, potentially accelerating adoption across mid-market
enterprises.<sup>7</sup>

**Competitive landscape and product characteristics**

Competition includes global consulting and analytics providers, regional systems integrators, and niche firms delivering data engineering, visualization, and marketing technology services. Engagements are often won on domain expertise, delivery quality, security posture, cost, and time-to-value. Projects are typically bespoke, integrating client systems, public cloud platforms, and commercial/open-source analytics tools.

<sup>6</sup> <u>See e-Conomy SEA 2025 From Digital Decade to AI Reality: Accelerating the future in ASEAN</u>

<sup>7</sup> <u>See AP News Google to invest $2 billion in Malaysian data center and cloud hub</u>

**<u>Competition within the industry (markets where the Group operates)</u>**

**Scope of markets**

The Group's current presence is principally Malaysia. Competition in these markets is fragmented, comprising global consulting firms, regional systems integrators, cloud-ecosystem providers and their partners, specialized analytics/marketing firms, and in-house enterprise teams.

**How competition is waged**

Contracts are typically awarded based on (i) domain expertise and references in the client's industry, (ii) delivery quality and security/compliance (including data-privacy practices), (iii) time-to-value, (iv) pricing and commercial flexibility, (v) ability to integrate with cloud platforms and existing systems, and (vi) local presence and support. Enterprises may also insource analytics and marketing operations, creating an additional competitive alternative.

**Market dynamics affecting competition**

The competitive environment is influenced by (i) hyperscaler investment in local/nearby data centers (which broadens available cloud/AI services and partner capacity), and (ii) ongoing regional digitalization that attracts both global and regional entrants. These developments can intensify price-based competition and compress project margins even as they expand the overall addressable market.<sup>8</sup>

**Caveat on market share data**

Management is not aware of any authoritative, public Malaysia-specific ranking that comprehensively measures market share for consulting-led data and analytics services; available sources often reflect individual firms' disclosures, partial surveys, or paywalled analyst research and therefore may not be directly comparable across providers.

**<u>Major competitors, market share and positioning, competition factors and outlook</u>**

**Major competitors**

The Group operates in Malaysia and selected Southeast Asian market. Based on management's observations, the most significant competitors fall into three categories:

● Global consulting and technology firms such as Accenture, PwC,
KPMG and IBM that provide broad digital-transformation and analytics services. These firms typically serve large enterprises and government
agencies with end-to-end capabilities.

● Regional and local technology providers such as ADA (an Axiata-affiliated
data and marketing analytics company), and regional systems integrators including NCS (Singtel) and FPT Software, which offer digital-transformation,
AI, and analytics services across SEA.

● Cloud ecosystem partners and hyperscalers' service networks,
which deliver analytics and AI consulting linked to their platforms (e.g., AWS, Google Cloud, Microsoft Azure), supported by ongoing
investment in Malaysian and regional infrastructure.

This list is based on management's current market knowledge; there is no single authoritative public source covering all participants in the Group's specific service niches.

**Market share and positioning**

The Group does not have access to comprehensive independent data on market share for consulting-led digital transformation and analytics services in Malaysia. Available industry research typically aggregates broader IT services segments or is subscription-based. Management believes its market share is modest relative to larger multinational firms with greater scale and resources. The Group positions itself as a specialist service provider, focusing on tailored engagements in digital strategy, analytics, and marketing alignment, with an emphasis on customization and client-specific delivery rather than standardized offerings.

**Key aspects of competition**

Competition typically occurs in the following factors:

● Domain expertise and track record in the client's sector.

● Quality and reliability of delivery, including data security
and regulatory compliance.

● Timeliness and ability to meet project milestones.

● Pricing and commercial terms, especially for mid-sized clients
with budget constraints.

● Integration capabilities with clients' existing systems
and third-party platforms.

● Customer service and ongoing support.

Enterprises may also develop in-house analytics teams, which represent an alternative to external consulting.

8 <u>See Malaysian Investment Development Authority Amazon Web Services (AWS) Announces RM25.5 Billion Investment to Launch an AWS Cloud Computing Infrastructure In Malaysia</u>

**How the Group seeks to remain competitive**

Our management's strategy focuses on:

● Maintaining a flexible and agile delivery model that can adapt
to clients' requirements.

● Tailoring solutions for each engagement, rather than offering
a one-size-fits-all product.

● Leveraging relationships with cloud platforms and technology
vendors for implementation and integration.

● Investing in internal capabilities (training, methodologies,
security practices) to deliver quality outcomes.

There is no assurance these initiatives will be sufficient to maintain or improve the Group's competitive position.

**Outlook relative to competitors**

Independent forecasts project continued digitization and adoption of data analytics in Southeast Asia. However, competition from larger incumbents and new entrants may increase. The Group's ability to capture opportunities will depend on client demand, its ability to deliver projects effectively, and external factors such as economic conditions and regulatory developments. Our management cannot predict with certainty how its positioning will evolve relative to larger competitors; outcomes will vary by market segment and project type.

**EMPLOYEES**

As of February 28, 2026, August 31, 2025 and 2024, we had 28, five and eight full-time employees respectively, all of them are based in Malaysia. The following table sets forth the breakdown of our employees by function as at February 28, 2026:

---

| | |
|:---|:---|
| **Function** | **Number of employees** |
| Management | 2 |
| Finance and accounting | 1 |
| Quality control and technical | 25 |
| **Total** | 28 |

---

We enter into standard employment agreement with each of our employees in accordance with the applicable laws in Malaysia. We believe that we maintain a good working relationship with our employees, and we have not experienced any material labor disputes. In addition, we have not experienced any difficulties in the recruitment and retention of experienced core staff or skilled personnel. Our remuneration package includes salary and discretionary bonuses. In general, we determine employees' salaries based on their qualifications, position and seniority. In order to attract and retain valuable employees, we review the performance of our employees annually which will be taken into account in annual salary review and promotion appraisal.

**INTELLECTUAL PROPERTY**

As at the date of this prospectus, we own the domain 3knightsdynamics.com registered in Malaysia and are in the process of applying for two trademarks in Malaysia.

As of the date of this prospectus, we had not been subject to any material dispute or claims for infringement upon third parties' trademarks, licenses and other intellectual property rights.

**LICENSES, PERMITS AND REGISTRATIONS**

As of the date of this prospectus, 3 Knights has obtained its up-to-date business premise license. Save for the business premise license, 3 Knight is not required to obtain any licenses and approvals for carrying out its business for the years ended August 31, 2025 and 2024, and as of the date of this prospectus.

**PROPERTIES** 

We do not own any real property. As of the date of this prospectus, we lease the following property as our office:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Property address** | **Lessor** | **Area** | **Monthly rent** | **Lease**<br> **expiration date** | **Use** |
| Unit 19-2, The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia | Hello Property (M) Sdn Bhd. | Approximately 2,024 sq. ft. | RM8,905.60 | 31 March 2028 | Office |

---

The above leased premise is leased from independent third party. We believe that our office units are adequate to meet our needs for the immediate future, and that, should it be needed, suitable additional space will be available on commercially reasonable terms to accommodate any expansion of our operations.

**INSURANCE**

We maintain no insurance policies and review our insurance policies from time to time for adequacy in the breadth of coverage.

**LEGAL PROCEEDINGS**

We are currently not a party to any material legal or administrative proceedings. We may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of our resources, including our management's time and attention.

**REGULATIONS**

We are subject to all relevant laws and regulations of Malaysia and may be affected by policies which may be introduced by their respective governments from time to time. We have identified the main laws and regulations (apart from those pertaining to general business requirements) that materially affect our operations, including the licenses, permits and approvals typically required for the conduct of our business, and the relevant regulatory bodies, below.

As of the date of this prospectus, our Directors believe that we are not in breach of any laws or regulations applicable to our business operations that would materially affect our business operations, and our Group is in compliance with all the applicable laws and regulations that are material to our business operations. The Group may be subject to certain fines/penalties arising from its ordinary course of business from time to time.

**Malaysia**

The following Malaysian laws and regulations are applicable to our business:

**Regulations relating to labor** 

The Employees Provident Fund Act 1991 ("EPFA 1991") governs the monetary contribution of employers towards the scheme of savings for their employees' retirement, known as Employees Provident Fund ("EPF") contributions, and the management of those funds for the retirement of employees. Every employee and every employer shall make monthly contributions on the amount of wages as stipulated in the EPFA 1991.

The Employees' Social Security Act 1969 ("ESSA 1969"), and the Employment Insurance System Act 2017 ("EISA 2017"), similarly require employers and employees to make monetary contributions to the Social Security Organization.

Pursuant to the ESSA 1969, contributions made to the Social Security Organization shall fall into two categories based on the monthly wages of the employees, namely:

(a) contributions payable by or on behalf of the employees insured
against the contingencies of invalidity and employment injury to be paid by the employee and employer; and

(b) contributions payable by or on behalf of employees insured
only against the contingency of employment injury, to be paid entirely by the employer.

From January 2018, any employer who has registered his industry according to the ESSA 1969 shall also be deemed to have registered his industry under the EISA 2017, and shall make contributions as specified in the EISA 2017, based on the monthly wages of the employees insured pursuant to the EISA 2017.

For information, our Malaysian subsidiary has complied with the above requirements and we have made our contributions in a timely manner.

Our Malaysian subsidiary has also complied with the Employment Act 1955 ("EA 1955"), which governs and regulates all labor relations, including contracts of service, payment of wages, employment of women, maternity protection, hours of work, holidays, leave policy, termination, layoff and retirement benefits. The EA 1955 applies to designated categories of employees who fall within the definition of "employee" under the EA 1955, which include any person who has entered into a contract of service with an employer pursuant to the Employment (Amendment of First Schedule) Order 2022 that came into force on January 1, 2023. For information, the Minimum Wage Order 2024 with effect from February 1, 2025, mandates a minimum wage of RM1,700.00 requirement for all the employees.

As of the date of this prospectus, our Malaysian subsidiary is in compliance with the applicable labor regulations in Malaysia.

**Regulation relating to business operation** 

It is mandatory to seek business premise license from the local authorities pursuant to the Local Government Act 1976 ("LGA 1976"). This legislation empowers the respective municipal/ town councils to enact by-laws stipulating the need for licenses to use any premises within their jurisdiction for business purposes. Businesses in Wilayah Persekutuan Kuala Lumpur, where our business operation is located, are regulated by the Licensing of Trades, Businesses and Industries (Federal Territory of Kuala Lumpur) By-Laws 2016, which fall under the jurisdiction of Kuala Lumpur City Hall ("DBKL").

As of date of this prospectus, our Malaysian subsidiary has obtained the business premise license from DBKL and is in compliance with the Licensing of Trades, Businesses and Industries (Federal Territory of Kuala Lumpur) By-Laws 2016.

**MANAGEMENT**

The following table sets forth information regarding our Directors and Executive Officers as at the date of this prospectus:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Chu Hoon Weng | 40 | **Director, Chairman of the Board of Directors and Chief Executive Officer** |
| Lim Seow Leong | 39 | **Director and Chief Technology Officer** |
| Chen Xiang Foong | 33 | **Chief Financial Officer** |
| Brinda Umesh Patel\* | 28 | **Independent Director Nominee** |
| Lim Guan Hong\* | 34 | **Independent Director Nominee** |
| Marcel Budiono\* | 34 | **Independent Director Nominee** |

---

\* Has accepted an independent director appointment, which will be effective immediately upon effectiveness of the registration statement of which this prospectus forms a part.

The brief biography of each of our Directors, Executive Officers and Independent Director Nominees are set out below:

***Executive Directors and Officers***

**Mr. Chu Hoon Weng ("*Mr. Chu*")** has been serving as a Director since October 2025, our Chief Executive Officer since May 4, 2026, and will serves as the Chairman of the Board of Directors upon effective of our registration statement on Form F-1, of which this prospectus is a part. Mr. Chu is primarily responsible for monitoring our Company's business operation and overall project implementation and execution. He has been serving with 3 Knights since April 2024 as Chief Executive Officer, and was responsible for overseeing Company's business operation and project management. Mr. Chu has over 17 years of business operations and project management experience. Before joining our Company, Mr. Chu held several key positions in various corporate organizations, showcasing his diverse experience. From May 2018 to March 2024, Mr. Chu has been engaged by Wilstech Sdn Bhd. and served as head of operation. From May 2009 to May 2018, Mr. Chu served as a senior executive for Cubinet Interactive Sdn. Bhd. From December 2007 to April 2009, Mr. Chu served as a sales executive for Hong Leong Bank Berhad. From July 2007 to November 2007, Mr. Chu served as a tele-marketing officer for Telebiz Sdn. Bhd. Mr. Chu obtained his diploma degree in mass communication from the Tunku Abdul Rahman College in May 2007.

**Mr. Lim Seow Leong ("*Mr. Lim*")** has been serving as a Director since October 2025, and as the Chief Technology Officer of the Company May 4, 2026. Mr. Lim is primarily responsible for establishing technology vision, developing and implementing the strategic development of technology of the Company, and to ensure it aligns with overall business goals. He joined our operating subsidiary in April 2024 as chief technology officer, and was responsible for overseeing software projects development of the company. Mr. Lim has over 16 years of software application developing experience. Before joining our Company, Mr. Lim held several key positions in various corporate organizations, showcasing his diverse professional experience. From October 2021 to March 2024, Mr. Lim served as the head of software engineer for Wilstech Sdn. Bhd. From February 2020 to July 2021, Mr. Lim served as the software engineer for HR Easily Sdn. Bhd. From June 2009 to August 2019, Mr. Lim worked at Cubizone Interactive Sdn. Bhd. with his last position as a head of software engineer. Mr. Lim obtained his bachelor's degree in science from Tunku Abdul Rahman University of Management and Technology in May 2009. He obtained his diploma degree in internet technology from the Tunku Abdul Rahman University of Management and Technology in May 2007.

**Mr. Chen Xiang Foong ("Mr. Chen")** has been serving as a Chief Financial Officer of the Company since May 4, 2026. Mr. Chen is primarily responsible for overall financial management of the Company. Mr. Chen has over 13 years of professional experience in accounting, auditing, and financial advisory. Before joining our Company, Mr. Chen held several key positions in various audit firms, showcasing his extensive professional experience. Since July 2025, Mr. Chen has been serving as the chief financial officer of 3 Knights. In September 2025, Mr. Chen was appointed independent non-executive director of Bus Cap Berhad. In April 2023, Mr. Chen founded CL & Co PLT, a licensed audit firm in Malaysia, and has been serving as the managing partner since then. From July 2020 to March 2024, he served as a partner at Danny Loo & Co PLT. From January 2016 to June 2019, he served as an audit manager at Ernst & Young Malaysia. From July 2012 to November 2015, he served as a senior associate at BDO Malaysia. Mr. Chen currently serves as an independent non-executive director and audit committee chairman of a NASDAQ-listed company, where he provides oversight of corporate governance, financial reporting, and internal controls. Mr. Chen was admitted as a member of the Malaysian Institute of Accountants (MIA) in October 2017. He was admitted as a Fellow member of the Institute of Chartered Accountants in England and Wales (ICAEW) in June 2016. He completed the ICAEW program from Sunway University in July 2015. He obtained the Certified Accounting Technician (CAT) qualification from Sunway University in June 2011.

***Independent Director Nominees***

**Ms. Brinda Umesh Patel ("Ms. Patel")** is a director nominee who will be appointed as one of our independent directors immediately upon effectiveness of our registration statement of which this prospectus forms a part. Since September 2020, Ms. Brinda has served as a director for FTI Consulting, Inc., where she leads complex engagements involving financial investigations, data privacy and data breach auditing and reporting. She obtained her bachelor's degree in business administration from the University of Southern California in May 2020.

**Mr. Lim Guan Hong ("Mr. Lim")** is a director nominee who will be appointed as one of our independent directors immediately upon effectiveness of our registration statement of which this prospectus forms a part. Mr. Lim has over 10 years of audit and tax related experience. From September 2014 to March 2015, he served as an audit associate for BDO PLT. From October 2015 to January 2016, he served as a tax associate for PwC International Assignment Services Sdn Bhd. From January 2016 to August 2016, he served as a tax assistant for Deloitte Tax Services Sdn Bhd. From December 2016 to December 2020, he served as a tax manager at Key Focus Tax Sdn Bhd. Since January 2021, he founded Advisirs Tax Snd Bhd. and has served as the chief executive officer. In June 2021, he founded Advisirs Plus Sdn Bhd. and has since then been serving as its chief executive officer. Mr. Lim was admitted as a member of the Association of Chartered Certified Accountants (ACCA) in November 2018, and as a member of the Malaysian Institute of Accountants (MIA) in September 2019. He obtained his diploma in business and accounting from Tunku Abdul Rahman University of Management and Technology (TAR UMT) in July 2012. He obtained his master's degree of science in professional accountancy from University of London (UCL) in December 2017.

**Mr. Marcel Budiono ("Mr. Budiono")** is a director nominee who will be appointed as one of our independent directors immediately upon effectiveness of our registration statement of which this prospectus forms a part. Mr. Budiono is legally trained with over 5 years of experience in commercial litigation matters. He became a member of the State Bar of California in December 2019 and has been practicing since then. From September 2019 to April 2025, he served as an associate for Rutan & Tucker, LLP. Since June 2025, he has served as a senior counsel for Enenstein Pham Glass Gutenplan & Bolling LLP. He obtained his bachelor's degree in political science from the University of California, Los Angeles in June 2014. He later obtained his Juris Doctor degree in Laws from the University of California, Irvine in May 2019.

***Family Relationship***

 ****

There are no family relationships among our directors and executive officers.

 ****

**Corporate Governance Practices**

***Foreign Private Issuer***

After the consummation of this Offering, we will qualify as a "foreign private issuer" under the SEC rules and Nasdaq rules. As a foreign private issuer, we will be exempt from the rules under the Exchange Act related to the furnishing and content of proxy statements to shareholders under the federal proxy rules contained in Sections 14(a), (b) and (c) of the Exchange Act, and our executive officers, directors and principal shareholders are exempt from the short-swing profit recovery provisions contained in Section 16 of the Exchange Act. Effective March 18, 2026, our executive officers and directors are required, pursuant to the Holding Foreign Insiders Accountable Act, to file Section 16(a) reports with the SEC to disclose their beneficial ownership of our securities. Our 10% shareholders who are not officers or directors, however, remain exempt from Section 16(a) reporting requirements. Also, we are not required to comply with Regulation FD, which restricts the selective disclosure of material information. However, we will file with the SEC, within 120 days after the end of each fiscal year, or such applicable time as required by the SEC, an annual report on Form 20-F containing financial statements audited by an independent registered public accounting firm, and we will submit to the SEC from time to time, on Form 6-K, reports of information that would likely be material to an investment decision in our Shares.

Furthermore, Nasdaq Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on our home country corporate governance practices in lieu of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), except that we must comply with Nasdaq's Notification of Noncompliance requirement (Rule 5625), the Voting Rights requirement (Rule 5640), and that we have an audit committee that satisfies Rule 5605(c)(3), including having committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). The exemptions are subject to our disclosure of which requirements we are not following and the equivalent Cayman Islands requirements. Below are some of the exemptions afforded to foreign private issuers under the Nasdaq rules:

● Exemption from the requirement that we disclose within four business days of any determination to grant a waiver of the code of business conduct and ethics to directors and officers.

● Exemption from the requirement that our Board of Directors be composed of independent directors.

● Exemption from the requirement that our audit committee have a minimum of three members.

● Exemption from the requirement that we hold annual shareholders' meetings.

● Exemption from the requirement that our Board of Directors have a remuneration committee composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities.

● Exemption from the requirement that director nominees are selected, or recommended for selection by our Board of Directors, either by (i) independent directors constituting a majority of our Board of Directors' independent directors in a vote in which only independent directors participate, or (ii) a committee comprised solely of independent directors and governed by a formal written charter or board resolution, as applicable, addressing the nomination process as adopted.

We intend to comply with all of the rules generally applicable to U.S. domestic companies listed on the Nasdaq. We may in the future decide to use the foreign private issuer exemption with respect to some or all of the other Nasdaq corporate governance rules. We also intend to comply with Cayman Islands corporate governance requirements under the Companies Act applicable to us at the same time. If we rely on our home country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. We may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.

***Board of Directors***

Our Board of Directors will consist of five directors upon the SEC's declaration of effectiveness of our registration statement on Form F-1, of which this prospectus is a part. A director who is, directly or indirectly, interested in a contract or transaction or proposed contract or transaction with our company shall declare the nature of his or her interest at a meeting of our directors. A director may vote in respect of any contract or transaction or proposed contract or transaction notwithstanding that he or she may be interested therein provided the director discloses to his fellow directors the nature and extent of any material interests in respect of any contract or transaction or proposed contract or transaction and if he or she does so his or her vote shall be counted and he or she may be counted in the quorum at any meeting of our directors at which any such contract or transaction or proposed contract or transaction is considered. Our directors may exercise all the powers of our Company to issue debentures, debenture stock, bonds, and other securities, whether outright or as collateral security for any debt, liability or obligation of our company or of any third party. None of our non-executive directors have a service contract with us that provides for benefits upon termination of service.

We recognize the importance and benefit of having a Board of Directors composed of highly talented and experienced individuals having regard to the need to foster and promote diversity among board members with respect to attributes such as gender, ethnicity and other factors. In support of this goal, we will consider criteria that promote diversity, including with regard to gender, ethnicity, and other dimensions; and consider the level of representation of women on our Board of Directors along with other markers of diversity.

***Controlled Company***

Upon completion of this Offering, our Controlling Shareholder, may beneficially own approximately 82.06% of the aggregate voting power of our outstanding Shares, assuming that the underwriters do not exercise their over-allotment option. As a result, we may be deemed a "controlled company" within the meaning of the Nasdaq listing rules. If we are deemed a controlled company, we are permitted to elect to rely on certain exemptions from the obligations to comply with certain corporate governance requirements, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that a majority of the board of directors consist of independent directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that we have a nominating and corporate governance committee and a compensation committee that are composed entirely of independent directors with a written charter addressing the purposes and responsibilities of the committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement that a listed company have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the requirement for an annual performance evaluation of the nominating and governance committee and compensation committee.

Although we do not intend to rely on the controlled company exemptions under the Nasdaq listing rules even if we are deemed a controlled company, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq.

***Committees of the Board of Directors***

We will establish three committees under the Board of Directors immediately upon the effectiveness of our registration statement on Form F-1, of which this prospectus is a part: an Audit Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee. We expect to adopt a charter for each of the three committees. Each committee's members and functions are described below.

*Audit Committee.* Our Audit Committee will consist of Ms. Brinda Umesh Patel, Mr. Lim Guan Hong and Mr. Marcel Budiono. Mr. Lim Guan Hong will be the chairperson of our Audit Committee. We have determined that each of our Audit Committee members satisfies the "independence" requirements of Rule 5605(c)(2) of the Nasdaq rules and meets the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Mr. Lim Guan Hong qualifies as an "audit committee financial expert" within the meaning of the SEC rules and possesses financial sophistication within the meaning of the Nasdaq rules. The Audit Committee will oversee our accounting and financial reporting processes and the audits of the financial statements of our company. The Audit Committee will be responsible for, among other things:

● appointing the independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;

● reviewing with the independent auditors any audit problems or difficulties and management's response;

● discussing the annual audited financial statements with management and the independent auditors;

● reviewing the adequacy and effectiveness of our accounting and internal control policies and procedures and any steps taken to monitor and control major financial risk exposures;

● reviewing and approving all proposed related-party transactions;

● meeting separately and periodically with management and the independent auditors; and

● monitoring compliance with our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.

*Compensation Committee.* Our Compensation Committee will consist of Ms. Brinda Umesh Patel, Mr. Lim Guan Hong and Mr. Marcel Budiono. Ms. Brinda Umesh Patel will be the chairman of our Compensation Committee. We have determined that each of our Compensation Committee members satisfies the "independence" requirements of Rule 5605(a)(2) of the Nasdaq rules. The Compensation Committee will assist the board in reviewing and approving the compensation structure, including all forms of compensation, relating to our directors and executive officers. Our chief executive officer may not be present at any committee meeting during which his compensation is deliberated. The Compensation Committee will be responsible for, among other things:

● reviewing and approving, or recommending to the board for its approval, the compensation for our chief executive officer and other executive officers;

● reviewing and recommending to the board for determination with respect to the compensation of our non-employee directors;

● reviewing periodically and approving any incentive compensation or equity plans, programs, or similar arrangements; and

● selecting compensation consultant, legal counsel, or other adviser only after taking into consideration all factors relevant to that person's independence from management.

*Nominating and Corporate Governance Committee.* Our Nominating and Corporate Governance Committee will consist of Ms. Brinda Umesh Patel, Mr. Lim Guan Hong and Mr. Marcel Budiono. Mr. Marcel Budiono will be the chairman of our Nominating and Corporate Governance Committee. We have determined that each of our Nominating and Corporate Governance Committee members satisfies the "independence" requirements of Rule 5605(a)(2) of the Nasdaq rules. The Nominating and Corporate Governance Committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees. The Nominating and Corporate Governance Committee will be responsible for, among other things:

● selecting and recommending to the board nominees for election by the shareholders or appointment by the board;

● reviewing annually with the board the current composition of the board in regard to characteristics such as independence, knowledge, skills, experience, and diversity;

● making recommendations on the frequency and structure of board meetings and monitoring the functioning of the committees of the board; and

● advising the board periodically in regard to significant developments in the law and practice of corporate governance, as well as our compliance with applicable laws and regulations, and making recommendations to the board on all matters of corporate governance and on any remedial action to be taken.

***Duties of Directors***

Under Cayman Islands law, the fiduciary duties owed by a director and officer include (a) a duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole, (b) a duty to exercise their powers for the purposes for which they were conferred and not for a collateral purpose, (c) a duty to avoid improperly fettering the exercise of future discretion, (d) a duty to avoid any conflict of interest between the director's duty to the company and the director's personal interests, and (e) a duty to exercise independent judgment. In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience of that director.

As set out above, our directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the memorandum and articles of association of a company or alternatively by shareholder approval at general meetings.

***Code of Business Conduct and Ethics***

In connection with this Offering, we have adopted a code of business conduct and ethics, which is applicable to all of our directors, executive officers and employees and is publicly available.

***Terms of Directors and Officers***

Our directors may be elected by a resolution of our Board of Directors or by an ordinary resolution of our shareholders. An appointment of a director may be on terms that the director will automatically retire from office (unless he has sooner vacated office) at the next or a subsequent annual general meeting or upon any specified event or after any specified period in a written agreement between our Company and the director, if any, but no such term will be implied in the absence of express provision. It is expected that, whether by ordinary resolution or by the directors, each director will be appointed on the terms that the director will hold office until the appointment of the director's successor or the director's re-appointment at the next annual general meeting, unless the director has sooner vacated office.

A director may be removed by ordinary resolution.

The office of a director will be terminated if the director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is prohibited by the law of the Cayman Islands from
 acting as a director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is made bankrupt or makes an arrangement or composition
 with his creditors generally; or

(c) resigns his or her office by notice to the Company;
 or

(d) in accordance with our articles of association, has
 only held office as a director for a fixed term and such term expires; or

(e) in the opinion of a registered medical practitioner
 by whom he or she is being treated becomes physically or mentally incapable of acting as a director; or

(f) is given notice by the majority of the other directors
 (not being less than two in number) to vacate office (without prejudice to any claim for damages for breach of any agreement relating
 to the provision of the services of such director); or

(g) is made subject to any law relating to mental health
 or incompetence, whether by court order or otherwise; or

(h) without the consent of the other directors, is absent
 from meetings of directors for a continuous period of six months.

***Employment Agreements and Indemnification Agreements with Executive Officers***

We will enter into employment agreements with each of our executive officers. Under these agreements, each of our executive officers is employed for a specified time period. We may terminate, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction or plea of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to our detriment, or misconduct or a failure to perform agreed duties. An executive officer may terminate his or her employment at any time with a three-month prior written notice.

Each executive officer has agreed to hold, both during and after the termination or expiry of his employment agreement, in strict confidence and not to use, except as required in the performance of his duties in connection with the employment or pursuant to applicable law, any of our confidential or proprietary information or the confidential or proprietary information of any third party received by us and for which we have confidential obligations. Each executive officer has also agreed to disclose in confidence to us all inventions, designs and trade secrets which he conceives, develops or reduces to practice during his employment with us and to assign all right, title and interest in them to us, and assist us in obtaining and enforcing patents, copyrights and other legal rights for these inventions, designs and trade secrets.

In addition, each executive officer has agreed to be bound by non-competition and non-solicitation restrictions during the term of the employment and for one year following the last date of employment. Specifically, each executive officer has agreed not to: (i) engage or assist others in engaging in any business or enterprise that is competitive with our business, (ii) solicit, divert or take away the business of our clients, customers or business partners, or (iii) solicit, induce or attempt to induce any employee or independent contractor to terminate his or her employment or engagement with us. The employment agreements also contain other customary terms and provisions.

We will also enter into indemnification agreements with each of our executive directors and executive officers. Under these agreements, we agree to indemnify them against certain liabilities and expenses that they incur in connection with claims made by reason of their being a director or officer of our Company. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

***Involvement in Certain Legal Proceedings***

To the best of our knowledge, none of our directors or executive officers has, during the past 10 years, been involved in any legal proceedings described in subparagraph (f) of Item 401 of Regulation S-K.

***Board diversity***

We seek to achieve board diversity through the consideration of a number of factors when selecting the candidates to our Board, including but not limited to gender, skills, age, professional experience, knowledge, cultural, education background, ethnicity and length of service. The ultimate decision of the appointment will be based on merit and the contribution which the selected candidates will bring to our board.

Our directors have a balanced mix of knowledge and skills. We have three independent directors with different industry backgrounds, representing a majority of the members of our board. Our board is well balanced and diversified in alignment with the business development and strategy of the Company.

***Compensation***

For the year ended August 31, 2025, we paid an aggregate of approximately USD201,105 in cash and benefits in-kind granted to or accrued on behalf of our Directors for their services, in all capacities, and we did not pay any additional compensation to our Directors and members of senior management. We have not set aside or accrued any amount to provide pension, retirement or other similar benefits to our Executive Officers and Directors, except as mandated by Malaysian laws.

**PRINCIPAL SHAREHOLDERS**

The following table sets forth information regarding the beneficial ownership of our Shares as of the date of this prospectus by our officers, directors, and 5% or greater beneficial owners of Shares. There is no other person or group of affiliated persons known by us to beneficially own more than 5% of our Shares. The following table assumes that none of our officers, directors or 5% or greater beneficial owners of our Shares will purchase shares in this Offering. In addition, the following table assumes that the over-allotment option has not been exercised. Holders of our Shares are entitled to one (1) vote per share and vote on all matters submitted to a vote of our Shareholders, except as may otherwise be required by law.

We have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days. Unless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares shown as beneficially owned by him, subject to applicable community property laws.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Shares Beneficially Owned Prior to This Offering<sup>(2)</sup>** | **Shares Beneficially Owned Prior to This Offering<sup>(2)</sup>** | **Shares Beneficially Owned Prior to This Offering<sup>(2)</sup>** | | **Shares Beneficially Owned After This Offering<sup>(3)</sup>** | **Shares Beneficially Owned After This Offering<sup>(3)</sup>** | **Shares Beneficially Owned After This Offering<sup>(3)</sup>** | |
| | **Number of Ordinary Shares** | **Number of Ordinary Shares** | | | **Number of Ordinary Shares** | **Number of Ordinary Shares** | | |
| <br>**Name of Beneficial** <br>**Owners<sup>(1)</sup>** | **Class A** | **Class B** | **Approximate**<br> **percentage of**<br> **outstanding**<br> **Ordinary**<br>**Shares** | <br>**Approximate**<br> **percentage of**<br>**voting power** | **Class A** | **Class B** | **Approximate**<br> **percentage of**<br> **outstanding**<br> **Ordinary**<br>**Shares** | <br>**Approximate**<br> **percentage of**<br>**voting power** |
| **Directors and Executive Officers:** |  |  |  |  |  |  |  |  |
| Chu Hoon Weng (Chief Executive Officer, Chairman of the Board of Directors and Director)<sup>(4)</sup> | 7900000 | 1000000 | 35.60% | 44.29% | 7900000 | 1000000 | 29.67% | 41.03% |
| Lim Seow Leong (Director and Chief Technology Officer)<sup>(4)</sup> | 7900000 | 1000000 | 35.60% | 44.29% | 7900000 | 1000000 | 29.67% | 41.03% |
| Chen Xiang Foong (Chief Financial Officer) |  |  |  |  |  |  |  |  |
| Brinda Umesh Patel (Independent Director) |  |  |  |  |  |  |  |  |
| Lim Guan Hong (Independent Director) |  |  |  |  |  |  |  |  |
| Marcel Budiono (Independent Director) |  |  |  |  |  |  |  |  |
| **All directors, director nominees and executive officers as a group**<br>| 15800000 | 2000000 | 71.20% | 88.57% | 15800000 | 2000000 | 59.33% | 82.06% |
| **5% shareholders:** |  |  |  |  |  |  |  |  |
| WLG Holdings Sdn. Bhd. <sup>(4)</sup> | 15800000 | 2000000 | 71.20% | 88.57% | 15800000 | 2000000 | 59.33% | 82.06% |
| Minvescient Sdn. Bhd. <sup>(5)</sup> | 5000000 |  | 20.00% | 7.94% | 5000000 |  | 16.67% | 7.35% |
| Maxvard Dynamic Sdn. Bhd. <sup>(6)</sup> | 2200000 |  | 8.80% | 3.49% | 2200000 |  | 7.34% | 3.24% |

---

\* Less than 1%.

(1) Unless
 otherwise noted, the business address of each of the following entities or individuals is Unit 19-2, The Boulevard, Mid Valley City,
 Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

(2) Giving
 effect to the Reorganization, applicable percentage of ownership is based on 23,000,000 Class A Ordinary Shares and 2,000,000
 Class B Ordinary Shares outstanding held by as of the date of this prospectus.

(3) Applicable
 percentage of ownership is based on 5,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares outstanding immediately
 after the offering.

(4) The
 Controlling Shareholder, of registered address Unit 23.3, 23rd Floor, Surian Tower, No. 1, Jalan PJU 7/3, Mutiara Damansara, 47810
 Petaling Jaya, Selangor, Malaysia, is owned as to 50% each by Mr. Chu Hoon Weng and Mr. Lim Seow Leong.

(5) Minvescient Sdn. Bhd., of
 registered address Unit 23.3, 23<sup>rd</sup> Floor, Surian Tower, No.1, Jalan PJU 7/3, Mutiara Damansara, 47810 Petaling Jaya,
 Selangor, Malaysia, is wholly owned by Low Min Yang.

(6) Maxvard Dynamic Sdn. Bhd., of
 registered address No. 39-2, Jalan Setia Prima S U13/S, Setia Avenue Setia Alam, 40170 Shah Alam, Selangor, Malaysia, is wholly
 owned by Fong Pao Shean.

(7) Percentages may not add up to 100% due to rounding.

To our knowledge, and other than changes in percentage ownership as a result of the Reorganization, there has been no significant change in the percentage ownership held by the shareholders listed above in the last three years.

As of the date of this prospectus, we had no holders of record with an address in the United States.

**RELATED PARTY TRANSACTIONS**

**Transactions with Related Persons**

None for the three financial years ended August 31, 2025 and up to the date of this prospectus.

**Policies and Procedures for Related Party Transactions**

Our Board of Directors has created an Audit committee in Connection with this Offering which will be tasked with review and approval of all related party transactions, if any.

**DESCRIPTION OF SHARE CAPITAL**

We are an exempted company with limited liability incorporated under the laws of the Cayman Islands and our affairs are governed by our memorandum and articles of association, as amended from time to time and the Companies Act, and the common law of the Cayman Islands.

The authorized share of our Company consists of Ordinary Shares. As of the date of this prospectus, our Company's authorized share capital is US$50,000 divided into 450,000,000 Class A Ordinary Shares of par value US$0.0001 each and 50,000,000 Class B Ordinary Shares of par value US$0.0001 each.

As of the date of this prospectus, 23,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares are issued and outstanding of par value US$0.0001 each, equivalent to total paid-up capital of US$2,500. We will issue 5,000,000 Class A Ordinary Shares in this Offering.

Upon completion of this Offering, we will have 28,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares issued and outstanding. All of our issued and outstanding Ordinary Shares are fully paid, and all of our Shares to be issued in the Offering will be fully paid upon issuance.

**Our Memorandum and Articles of Association**

The following are summaries of certain material provisions of our memorandum and articles of association (which in this section shall each be referred as the memorandum and the articles, and collectively, the memorandum and articles) and of the Companies Act, insofar as they relate to the material terms of our Class A Ordinary Shares and Class B Ordinary Shares.

*Objects of Our Company.* Under our memorandum and articles of association, the objects of our Company are unrestricted, and we are capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit, as provided by section 27(2) of the Companies Act.

*Ordinary Shares.* Our Class A Ordinary Shares and Class B Ordinary Shares are issued in registered form and are issued when registered in our register of members. Each Class A Ordinary Share confers upon the holder thereof (i) the right to one (1) vote on all matters subject to the vote at general meetings of our Company or on any resolutions of members; (ii) the right to an equal share in any distribution by way of dividend paid by our Company; and (iii) the right to an equal share in the distribution of the surplus assets of our Company on its liquidation. Each Class B Ordinary Shares confers upon the holder thereof (i) the right to twenty (20) votes on all matters subject to the vote at general meetings of our Company or on any resolutions of members; (ii) the right to an equal share in any distribution by way of dividend paid by our Company; and (iii) the right to an equal share in the distribution of the surplus assets of our Company on its liquidation. Each Class B Ordinary Share shall be converted at the option of the holder thereof, at any time after issue and without the payment of any additional sum, into one Class A Ordinary Share on a one-for-one basis. No Class A Ordinary Shares shall be convertible into any Class B Ordinary Shares. We may not issue shares to bearer. Our shareholders who are non-residents of the Cayman Islands may freely hold and vote their shares.

*Dividends.* The holders of our Class A Ordinary Shares and Class B Ordinary Shares are entitled to such dividends as may be declared by our board of directors. Our memorandum and articles of association provide that dividends may be declared and paid out of the funds of us lawfully available for distribution. In addition, our Shareholders may declare dividends by ordinary resolution, but not dividend shall exceed the amount recommended by our directors. Under the laws of the Cayman Islands, our Company may pay a dividend out of either profit or share premium account; provided that in no circumstances may a dividend be paid out of our share premium if this would result in our Company being unable to pay its debts as they fall due in the ordinary course of business. Each of the Class A Ordinary Shares and Class B Ordinary Shares will be entitled to the same amount of dividends, if declared.

Voting Rights. In respect of all matters upon which the ordinary shares are entitled to vote, each Class A Ordinary Share is entitled to one (1) vote, and each Class B Ordinary Share is entitled to twenty (20) votes, voting together as one class. Voting at any general meeting is by a poll. A poll shall be taken in such manner as the chairman directs. He may appoint scrutineers (who need not be shareholders) and fix a place and time for declaring the result of the poll. If, through the aid of technology, the meeting is held as a virtual meeting or in more than one place, the chairman may appoint scrutineers virtually and in more than one place; but if he considers that the poll cannot be effectively monitored at that meeting, the chairman shall adjourn the holding of the poll to a date, place and time when that can occur.

An ordinary resolution to be passed at a meeting by the shareholders requires the affirmative vote of a simple majority of the votes attaching to the Ordinary Shares cast at a meeting, while a special resolution requires the affirmative vote of no less than two-thirds of the votes cast attaching to the issued and outstanding Ordinary Shares at a meeting. A special resolution will be required for important matters such as a change of name, making changes to our memorandum and articles of association, a reduction of our share capital and the voluntary winding up of our Company. Our shareholders may, among other things, divide or combine their shares by ordinary resolution.

*Conversion.* Each Class B Ordinary Share is convertible into one fully paid Class A Ordinary Share at any time at the option of the holder thereof after issue and without the payment of any additional sum. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Upon any transfer of Class B Ordinary Shares by a holder to any person or entity, whether it is or not an affiliate of such holder, such Class B Ordinary Shares shall not be automatically and immediately converted into any number of Class A Ordinary Shares. There is no provision in relation to any exception to the conversion of the Class B Ordinary Shares under our memorandum and articles of association.

*General Meetings of Shareholders.* As a Cayman Islands exempted company, we are not obliged by the Companies Act to call shareholders' annual general meetings. Our memorandum and articles of association provide that we shall, if required by the Companies Act, in each year hold a general meeting as its annual general meeting, which, if held, shall be convened by the board of directors, in accordance with the Articles. All general meetings (including an annual general meeting, any adjourned general meeting or postponed meeting) may be held as a physical meeting at such times and in any part of the world and at one or more locations, as a hybrid meeting or as an electronic meeting, as may be determined by our board of directors in its absolute discretion.

Shareholders' general meetings may be convened by a majority of our board of directors. Advance notice of not less than five clear days is required for the convening of our annual general shareholders' meeting (if any) and any other general meeting of our shareholders. A quorum required for any general meeting of shareholders consists of, at the time when the meeting proceeds to business, one or more shareholders holding shares which carry in aggregate (or representing by proxy) not less than one-third of the outstanding shares carrying the right to vote at such general meeting.

The Companies Act does not provide shareholders with any right to requisition a general meeting or to put any proposal before a general meeting. However, these rights may be provided in a company's articles of association. Our memorandum and articles of association provide that upon the requisition of any one or more of our shareholders holding shares which carry in aggregate not less than ten percent of the rights to vote at such general meetings, our board will convene an extraordinary general meeting and put the resolutions so requisitioned to a vote at such meeting. However, our memorandum and articles of association do not provide our shareholders with any right to put any proposals before annual general meetings or extraordinary general meetings not called by such shareholders.

*Transfer of Ordinary Shares.* Subject to the restrictions set out below, and provided that such transfer complies with applicable rules of the Nasdaq Capital Market, any of our shareholders may transfer all or any of his or her Ordinary Shares by an instrument of transfer in the usual or common form or in a form designated by the Nasdaq Capital Market (if such shares are listed on the Nasdaq Capital Market) or in any other form approved by our board of directors, executed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where the shares are fully paid, by or on behalf that shareholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where the shares are partly paid, by or on behalf of that shareholder and the transferee

Where the shares of any class in question are not listed on any stock exchange or subject to the rules of any stock exchange, our board of directors may, in its absolute discretion, decline to register any transfer of any Ordinary Share which is not fully paid up or on which we have a lien. Our board of directors may also, but are not required to, decline to register any transfer of any Ordinary Share unless:

● the instrument of transfer is lodged with us, accompanied by the certificate for the Ordinary Shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor to make the transfer;

● the instrument of transfer is in respect of only one class of Ordinary Shares;

● the instrument of transfer is properly stamped, if required;

● in the case of a transfer to joint holders, the number of joint holders to whom the Ordinary Share is to be transferred does not exceed four;

● the shares transferred are fully paid up and free of any lien in favor of our Company; and

● a fee of such maximum sum as the relevant stock exchange may determine to be payable or such lesser sum as our directors may from time to time require is paid to us in respect thereof.

If our directors refuse to register a transfer they shall, within one month after the date on which the instrument of transfer was lodged, send to each of the transferor and the transferee notice of such refusal.

The registration of transfers may, after compliance with any notice required of the Nasdaq and on 14 clear days' notice being given by advertisement in such one or more newspapers or by electronic means, be suspended and the register closed at such times and for such periods as our board of directors may from time to time determine; provided, however, that the registration of transfers shall not be suspended nor the register closed for more than 30 clear days in any year as our board may determine.

*Liquidation.* If we are wound up the shareholders may, subject to the articles and any other sanction required by the Companies Act, pass a special resolution allowing the liquidator to do either or both of the following:

(a) to divide in specie among
 the shareholders the whole or any part of the assets of the Company and, for that purpose, to value any assets and to determine how
 the division shall be carried out as between the shareholders or different classes of shareholders; and/or

(b) to vest the whole or any
 part of the assets in trustees for the benefit of shareholders and those liable to contribute to the winding up.

*Calls on Shares and Forfeiture of Shares.* Our board of directors may from time to time make calls upon shareholders for any amounts unpaid on their shares in a notice served to such shareholders at least 14 clear days in advance specifying the time and place of payment. The shares that have been called upon and remain unpaid are subject to forfeiture.

*Redemption, Repurchase and Surrender of Shares.* Subject to the terms of the Companies Act and to any rights for the time being conferred on the shareholders holding a particular class of shares, the Company may by our board of directors: (i) issue shares that are to be redeemed or liable to be redeemed, at the option of the Company or the shareholder holding those redeemable shares, on the terms and in the manner our board of directors determine before the issue of those shares; (ii) with the consent by special resolution of the shareholders holding shares of a particular class, vary the rights attaching to that class of shares so as to provide that those shares are to be redeemed or are liable to be redeemed at the option of the Company on the terms and in the manner which the board of directors determine at the time of such variation; and (iii) purchase all or any of our own shares of any class including any redeemable shares on the terms and in the manner which our board of directors determine at the time of such purchase. Under the Companies Act, the redemption or repurchase of any share may be paid out of our profits, share premium account or out of the proceeds of a new issue of shares made for the purpose of such redemption or repurchase, or out of capital if we can, immediately following such payment, pay our debts as they fall due in the ordinary course of business. In addition, under the Companies Act no such share may be redeemed or repurchased (a) unless it is fully paid up, (b) if such redemption or repurchase would result in there being no shares outstanding or (c) if the company has commenced liquidation. In addition, we may accept the surrender of any fully paid share for no consideration.

*Variations of Rights of Shares.* Whenever the capital of our Company is divided into different classes the rights attached to any such class may, subject to any rights or restrictions for the time being attached to any class, only be varied with (a) written consent of holders of not less than two-thirds of the issued shares of that class or (b) with the sanction of a resolution passed by a majority of two-thirds of the votes cast at a separate meeting of the holders of the shares of that class. The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation, allotment or issue of further shares ranking pari passu with such existing class of shares.

*Issuance of Additional Shares.* Our memorandum and articles authorizes our board of directors to issue authorized but unissued Ordinary Shares from time to time as our board of directors shall determine, to the extent of available.

*Inspection of Books and Records.* Holders of our Class A Ordinary Shares and Class B Ordinary Shares will have no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or its corporate records. However, our shareholders may receive our annual audited financial statements. See "Where You Can Find Additional Information".

*Anti-Takeover Provisions.* Some provisions of our memorandum and articles of association may discourage, delay or prevent a change of control of our Company or management that shareholders may consider favorable, including provisions that authorize our board of directors to issue authorized but unissued ordinary shares in the share capital of our Company; and limit the ability of shareholders to requisition and convene general meetings of shareholders.

However, under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our memorandum and articles of association for a proper purpose and for what they believe in good faith to be in the best interests of our Company.

*Exempted Company.* We are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except that an exempted company:

● does not have to file an annual return of its shareholders with the Registrar of Companies;

● is not required to open its register of members for inspection;

● does not have to hold an annual general meeting;

● may not issue negotiable or bearer shares but may issue shares with no par value;

● may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance);

● may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

● may register as a limited duration company; and

● may register as a segregated portfolio company.

"Limited liability" means that the liability of each shareholder is limited to the amount unpaid by the shareholder on that shareholder's shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

**Differences in Corporate Law**

The Companies Act is derived, to a large extent, from the older Companies Acts of England but does not follow recent English statutory enactments and accordingly there are significant differences between the Companies Act and the current Companies Act of England. In addition, the Companies Act differs from laws applicable to U.S. corporations and their shareholders. Set forth below is a summary of the significant differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

*Mergers and Similar Arrangements.* The Companies Act permits mergers and consolidations between Cayman Islands companies, and between Cayman Islands companies and non-Cayman Islands companies provided that the laws of the foreign jurisdiction permit such merger or consolidation. For these purposes, (a) "merger" means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company, and (b) a "consolidation" means the combination of two or more constituent companies into a new consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company. In order to effect such a merger or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which must then be authorized by (a) a special resolution of the shareholders of each constituent company, and (b) such other authorization, if any, as may be specified in such constituent company's articles of association. The plan must be filed with the Registrar of Companies of the Cayman Islands together with a declaration as to the solvency of the consolidated or surviving company, a list of the assets and liabilities of each constituent company and an undertaking that a copy of the certificate of merger or consolidation will be given to the members and creditors of each constituent company and that notification of the merger or consolidation will be published in the Cayman Islands Gazette. Court approval is not required for a merger or consolidation which is effected in compliance with these statutory procedures.

A merger between a Cayman parent company and its Cayman subsidiary or subsidiaries does not require authorization by a resolution of shareholders of that Cayman subsidiary if a copy of the plan of merger is given to every member of that Cayman subsidiary to be merged unless that member agrees otherwise. For this purpose, a company is a "parent" of a subsidiary if it holds issued shares that together represent at least ninety percent (90%) of the votes at a general meeting of the subsidiary. The consent of each holder of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman Islands.

Save in certain limited circumstances, a shareholder of a Cayman constituent company who dissents from the merger or consolidation is entitled to payment of the fair value of his shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting to the merger or consolidation, provided the dissenting shareholder complies strictly with the procedures set out in the Companies Act. The exercise of dissenter rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she might otherwise be entitled by virtue of holding shares, save for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

Separate from the statutory provisions relating to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that the arrangement is approved by seventy-five per cent in value of the members or class of members, as the case may be, with whom the arrangement is to be made and seventy-five per cent in value of the creditors or class of creditors, as the case may be, with whom the arrangement is to be made, that are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the arrangement if it determines that:

● the statutory provisions as to the required majority vote have been met;

● the shareholders have been fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion of the minority to promote interests adverse to those of the class;

● the arrangement is such that may be reasonably approved by an intelligent and honest man of that class acting in respect of his interest; and

● the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act.

The Companies Act also contains a statutory power of compulsory acquisition which may facilitate the "squeeze out" of a dissentient minority shareholder upon a tender offer. When a tender offer is made and accepted by holders of 90% in the value of the shares affected, the offeror may, within a two-month period after the approval by the said holders, require the holders of the remaining shares to transfer such shares to the offeror on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

If an arrangement and reconstruction is thus approved, the dissenting shareholder would have no rights comparable to appraisal rights, save that objectors to a takeover offer may apply to the Grand Court of the Cayman Islands for various orders that the Grand Court of the Cayman Islands has a broad discretion to make, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares.

The Companies Act also contains statutory provisions which provide that a company may present a petition to the Grand Court of the Cayman Islands for the appointment of a restructuring officer on the grounds that the company (a) is or is likely to become unable to pay its debts within the meaning of section 93 of the Companies Act; and (b) intends to present a compromise or arrangement to its creditors (or classes thereof) either, pursuant to the Companies Act, the law of a foreign country or by way of a consensual restructuring. The petition may be presented by a company acting by its directors, without a resolution of its members or an express power in its articles of association. On hearing such a petition, the Cayman Islands court may, among other things, make an order appointing a restructuring officer or make any other order as the court thinks fit.

*Shareholders' Suits*. In principle, we will normally be the proper plaintiff and as a general rule a derivative action may not be brought by a minority shareholder. However, based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands courts can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to challenge actions where:

● a company acts or proposes to act illegally or ultra vires;

● the act complained of, although not ultra vires, could only be effected duly if authorized by more than the number of votes which have actually been obtained; and

● those who control the company are perpetrating a "fraud on the minority".

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed.

*Indemnification of Directors and Executive Officers and Limitation of Liability.* Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime.

Our memorandum and articles of association provide that to the extent permitted by law, we shall indemnify each existing or former director (including alternate director), secretary and other officer of us (including an investment adviser or an administrator or liquidator) and their personal representatives against:

&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by the existing or former director
 (including alternate director), secretary or officer in or about the conduct of our business or affairs or in the execution or discharge
 of the existing or former director's (including alternate director's), secretary's or officer's duties, powers,
 authorities or discretions; and

(b) without
 limitation to paragraph (a), all costs, expenses, losses or liabilities incurred by the existing or former director (including alternate
 director), secretary or officer in defending (whether successfully or otherwise) any civil, criminal, administrative or investigative
 proceedings (whether threatened, pending or completed) concerning us or our affairs in any court or tribunal, whether in the Cayman
 Islands or elsewhere.

No such existing or former director (including alternate director), secretary or officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty.

To the extent permitted by the Companies Act, we may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or officer of the Company in respect of any matter identified in above on condition that the director (including alternate director), secretary or officer must repay the amount paid by us to the extent that we are ultimately found not liable to indemnify the director (including alternate director), secretary or officer for those legal costs. This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.

In addition, we have entered into indemnification agreements with our directors and executive officers that provide such persons with additional indemnification beyond that provided in our memorandum and articles of association.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

*Directors' Fiduciary Duties.* Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director acts in a manner he reasonably believes to be in the best interests of the corporation. He must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by a director, the director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation.

As a matter of Cayman Islands law, a director of a Cayman Islands company is in the position of a fiduciary with respect to the company and therefore it is considered that he owes the following duties to the company — a duty to act in good faith in the best interests of the company, a duty not to make a personal profit based on his position as director (unless the company permits him to do so), a duty not to put himself in a position where the interests of the company conflict with his personal interest or his duty to a third party and a duty to exercise powers for the purpose for which such powers were intended. A director of a Cayman Islands company owes to the company a duty to act with skill and care. It was previously considered that a director need not exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person carrying out the same functions as are carried out by that director in relation to the company. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care which requires the director to act with the skill care and diligence commensurate with any particular skill they have which enables them to meet a higher standard than a director without those skills and these authorities are likely to be followed in the Cayman Islands.

*Shareholder Action by Written Consent.* Under the Delaware General Corporation Law ("DGCL"), a corporation may eliminate the right of shareholders to act by written consent by amendment to its certificate of incorporation. Cayman Islands law permits us to eliminate the right of shareholders to act by written consent and our articles of association provide that any action required or permitted to be taken at any general meetings may be taken upon the vote of shareholders at a general meeting duly noticed and convened in accordance with our articles of association and may also be taken by written consent of the shareholders without a meeting.

*Shareholder Proposals.* Under the DGCL, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings.

The Companies Act does not provide shareholders with any rights to requisition a general meeting and do not provide shareholders with any right to put any proposal before a general meeting or to put any proposal before a general meeting. However, these rights may be provided in a company's articles of association. Our articles of association allow our shareholders holding shares which carry in aggregate not less than ten percent of the rights to vote at such general meeting to requisition an extraordinary general meeting of our shareholders, in which case our board is obliged to convene an extraordinary general meeting and to put the resolutions so requisitioned to a vote at such meeting. Other than this right to requisition a shareholders' meeting, our articles of association do not provide our shareholders with any other right to put proposals before annual general meetings or extraordinary general meetings. As an exempted Cayman Islands company, we are not obliged by law to call shareholders' annual general meetings.

*Cumulative Voting.* Under the DGCL, cumulative voting for elections of directors is not permitted unless the corporation's certificate of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder's voting power with respect to electing such director. There are no prohibitions in relation to cumulative voting under the laws of the Cayman Islands but our articles of association do not provide for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

*Removal of Directors.* Under the DGCL, a director of a corporation with a classified board may be removed only for cause with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our articles of association, subject to certain restrictions as contained therein, directors may be removed with or without cause, by an ordinary resolution of our shareholders. An appointment of a director may be on terms that the director shall automatically retire from office (unless he has sooner vacated office) upon any specified event or after any specified period in a written agreement between the company and the director, if any; but no such term shall be implied in the absence of express provision. Under our articles of association, a director's office shall be vacated if the director (i) becomes bankrupt or has a receiving order made against him or suspends payment or compounds with his creditors; (ii) is found to be or becomes of unsound mind or dies; (iii) resigns his office by notice in writing to the company; (iv) without special leave, is absence from meetings of our board for a continuous period of six months; (v) is prohibited by law from being a director or; (vi) is removed from office pursuant to the laws of the Cayman Islands or any other provisions of our memorandum and articles of association.

*Transactions with Interested Shareholders.* The DGCL contains a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an "interested shareholder" for three years following the date that such person becomes an interested shareholder. An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target's outstanding voting share within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested shareholder, the board of directors approves either the business combination or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition transaction with the target's board of directors.

Cayman Islands law has no comparable statute. As a result, we cannot avail itself of the types of protections afforded by the Delaware business combination statute. However, although Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that such transactions must be entered into bona fide in the best interests of the company and not with the effect of constituting a fraud on the minority shareholders.

*Dissolution; Winding up.* Under the DGCL, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation's outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.

Under Cayman Islands law, a company may be wound up by either an order of the courts of the Cayman Islands or by a special resolution of its members or, if the company is unable to pay its debts, by an ordinary resolution of its members. The court has authority to order winding up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable to do so.

*Variation of Rights of Shares.* Under the DGCL, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation provides otherwise. Under our articles of association, if our share capital is divided into more than one class of shares, the rights attached to any such class may only be varied with (a) the written consent of the holders of not less than two-thirds of the issued shares of that class or (b) the sanction of a resolution passed by a majority of two-thirds of the votes cast at a separate meeting of the holders of the shares of that class.

*Amendment of Governing Documents.* Under the DGCL, a corporation's governing documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under Cayman Islands law, our memorandum and articles of association may only be amended with a special resolution of our shareholders.

*Rights of Non-resident or Foreign Shareholders.* There are no limitations imposed by our memorandum and articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights our shares. In addition, there are no provisions in our memorandum and articles of association governing the ownership threshold above which shareholder ownership must be disclosed.

**SHARES ELIGIBLE FOR FUTURE SALE**

Upon the completion of this Offering, the 5,000,000 Class A Ordinary Shares sold in this Offering will be freely transferable by persons other than our "affiliates" without restriction or further registration under the Securities Act.

Prior to this Offering, there has been no public market for our Class A Ordinary Shares, and while we plan to apply to list our Class A Ordinary Shares on Nasdaq, we cannot assure you that a regular trading market for our Class A Ordinary Shares will develop or be sustained after this Offering. Future sales of substantial amounts of Class A Ordinary Shares in the public market, or the perception that such sales may occur, could adversely affect the market price of our Class A Ordinary Shares. Further, since a large number of our Class A Ordinary Shares will not be available for sale shortly after this Offering because of the contractual and legal restrictions on resale described below, sales of substantial amounts of our Class A Ordinary Shares in the public market after these restrictions lapse, or the perception that such sales may occur, could adversely affect the prevailing market price and our ability to raise equity capital in the future.

**Lock-Up Agreements**

We, together with each and any of our successors, have agreed not to, for a period of 180 days after the closing of this Offering, directly or indirectly, (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC a registration statement under the Securities Act relating to, any Class A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Ordinary Shares or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Class A Ordinary Shares or such other securities, in cash or otherwise, except to the underwriters in connection with this Offering. The Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration of the lock-up period.

Furthermore, each of our directors and executive officers and shareholders holding 5% or more of the issued and outstanding Class A Ordinary Shares or Class B Ordinary Shares has also entered into a similar lock-up agreement for a period of 180 days from the date of this prospectus, subject to certain exceptions, with respect to our Class A Ordinary Shares and securities that are substantially similar to our Class A Ordinary Shares. Pursuant to such lock-up agreements, each of our directors and executive officers has agreed, subject to limited exceptions set forth below, not to (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC a registration statement under the Securities Act relating to, any Class A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Ordinary Shares or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Class A Ordinary Shares or such other securities, in cash or otherwise, except to the underwriters in connection with this Offering. The Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration of the lock-up period.

The foregoing shall not apply to (i) Class A Ordinary Shares to be sold in the Offering; (ii) any over-allotment shares, (iii) any Class A Ordinary Shares issued or options to purchase Class A Ordinary Shares or other Class A Ordinary Shares -based awards granted pursuant to any stock incentive plan, stock purchase plan, stock ownership plan or dividend reinvestment plan of the Company in effect at the effective date of the registration statement of which this prospectus is a part (the "Effective Date"); (iii) issuance of Class A Ordinary Shares pursuant to the conversion or exchange of convertible or exchangeable securities or the exercise of warrants or options, in each case outstanding at the Effective Date; (iv) issuance of Class A Ordinary Shares in connection with strategic acquisitions; or (v) transfers by a shareholder (A) by bona fide gift, (B) by will or intestacy to the spouse, parents, siblings, first cousins or any lineal descendant of such shareholder or such shareholder's spouse, including step relationships and relationships by adoption (each a, "family member"), (C) to any trust for the benefit of such shareholder or a family member of such shareholder, (D) to the estate of such shareholder, or (E) to any affiliate of such shareholder or by distribution to any partners, members or shareholders of such shareholder

Other than this Offering, we are not aware of any plans by any significant shareholders to dispose of significant numbers of our Class A Ordinary Shares. However, one or more existing shareholders or owners of securities convertible or exchangeable into or exercisable for our Class A Ordinary Shares may dispose of significant numbers of our Class A Ordinary Shares in the future. We cannot predict what effect, if any, future sales of our Class A Ordinary Shares, or the availability of Class A Ordinary Shares for future sale, will have on the trading price of our Class A Ordinary Shares from time to time. Sales of substantial amounts of our Class A Ordinary Shares in the public market, or the perception that these sales could occur, could adversely affect the trading price of our Class A Ordinary Shares.

**Rule 144**

All of our Shares outstanding prior to this Offering are "restricted shares" as that term is defined in Rule 144 under the Securities Act and may be sold publicly in the United States only if they are subject to an effective registration statement under the Securities Act or pursuant to an exemption from the registration requirements. Under Rule 144 as currently in effect, a person who has beneficially owned our Shares for at least six months is generally entitled to sell the restricted securities without registration under the Securities Act beginning 90 days after the date of this prospectus, subject to certain additional restrictions.

Subject to the Lock-Up Agreements, our affiliates may sell within any three-month period a number of Shares that does not exceed the greater of the following:

● 1% of the then outstanding Shares of the same class, which will equal approximately 50,000 Class A Ordinary Shares immediately after this Offering assuming the over-allotment option is not exercised and 57,500 Class A Ordinary Shares assuming the over-allotment option is exercised in full; or

● the average weekly trading volume of our Shares on Nasdaq during the four calendar weeks preceding the date on which notice of the sale is filed with the SEC.

Affiliates who sell restricted securities under Rule 144 may not solicit orders or arrange for the solicitation of orders, and they are also subject to notice requirements and the availability of current public information about us.

Persons who are not our affiliates are only subject to one of these additional restrictions, the requirement of the availability of current public information about us, and this additional restriction does not apply if they have beneficially owned our restricted shares for more than one year.

**Regulation S**

Regulation S under the Securities Act provides an exemption from registration requirements in the U.S. for offers and sales of securities that occur outside the U.S. Rule 903 of Regulation S provides the conditions to the exemption for a sale by an issuer, a distributor, their respective affiliates, or anyone acting on their behalf. Rule 904 of Regulation S provides the conditions to the exemption for a resale by persons other than those covered by Rule 903. In each case, any sale must be completed in an offshore transaction, as that term is defined in Regulation S, and no directed selling efforts, as that term is defined in Regulation S, may be made in the U.S.

We are a foreign issuer as defined in Regulation S. As a foreign issuer, securities that we sell outside the U.S. pursuant to Regulation S are not considered to be restricted securities under the Securities Act, and, subject to the offering restrictions imposed by Rule 903, are freely tradable without registration or restrictions under the Securities Act, unless the securities are held by our affiliates. We are not claiming the potential exemption offered by Regulation S in connection with the offering of newly issued shares outside the U.S. and will register all of the newly issued shares under the Securities Act.

**Rule 701**

In general, under Rule 701 of the Securities Act as currently in effect, each of our employees, consultants or advisors who purchases our Shares from us in connection with a compensatory stock or option plan or other written agreement relating to compensation is eligible to resell such Shares 90 days after we became a reporting company under the Exchange Act in reliance on Rule 144, but without compliance with some of the restrictions, including the holding period, contained in Rule 144.

**EXCHANGE CONTROLS AND LIMITATIONS AFFECTING SHAREHOLDERS**

**Malaysia**

In Malaysia, foreign exchange control is governed by the Financial Services Act 2013 ("FSA") and the Islamic Financial Services Act 2013 ("IFSA"). The Foreign Exchange Policy Notices ("FE Notices") set out, among others, the circumstances in which the specific approval of the controller or regulator of foreign exchange i.e. Bank Negara Malaysia ("BNM"), the central bank of Malaysia, must be obtained by residents and non-residents to remit funds to and from Malaysia. A party undertaking or engaging in any transactions that are not provided for or allowed under the FE Notices are required to obtain approval from BNM prior to undertaking the said transaction.

A "resident" is defined as (i) a citizen of Malaysia (excluding a citizen who has obtained a permanent resident status in a country or a territory outside Malaysia and is residing outside Malaysia), (ii) a non-citizen of Malaysia who has obtained permanent resident status in Malaysia and is ordinarily residing in Malaysia, or (iii) a body corporate incorporated or established, or registered with or approved by any authority, in Malaysia; or (iv) an unincorporated body registered with or approved by any authority in Malaysia; or (v) the Government or any State Government.

A "non-resident" is defined as (i) any person other than a resident, (ii) an overseas branch, a subsidiary, regional office, sales office or representative office of a resident company, (iii) embassies, consulates, high commissions, supranational or international organizations, or (iv) a Malaysian citizen who has obtained permanent resident status of a country or territory outside Malaysia and is residing outside Malaysia.

The following are some of the provisions and restrictions that are applicable to our Malaysian subsidiary as a resident under the new FE Notices issued and made effective on October 1, 2025.

(i) Payment in Ringgit between non-resident and resident or non-resident

A non-resident is allowed to make or receive payment in RM, to or from another resident or non-resident for among others, income earned or expense incurred in Malaysia and for the settlement of a trade in goods or services (excluding payment between non-residents for settlement of a trade in goods or services outside Malaysia).

(ii) Payment in foreign currency between residents and non-residents

A resident is allowed to make or receive payment in foreign currency, to or from a non-resident for any purpose (subject to compliance with the FE Notices), excluding payment made or received for:

(a) a foreign currency-denominated derivative or Islamic derivative offered by a resident (unless otherwise approved by BNM);

(b) a derivative or Islamic derivative which is referenced to Ringgit (unless otherwise approved by BNM);

(c) a derivative or Islamic derivative, which market price, value, delivery or payment obligation is derived from, referenced to or based on exchange rate, offered by a non-resident (unless otherwise approved by BNM).

(iii) Repatriation of funds by non-resident

Non-resident is allowed to repatriate from Malaysia, funds including any income earned or proceeds from divestment of Ringgit asset, provided that such repatriation is made in foreign currency (except in the currency of Israel) and the conversion of Ringgit to foreign currency is undertaken in compliance with the FE Notices.

(iv) Borrowing in Ringgit by residents from non-residents

A resident entity is allowed to borrow in Ringgit in any amount from a non-resident through the issuance of (a) redeemable preference shares or Islamic redeemable preference shares in Ringgit for use in Malaysia, (b) Ringgit sovereign bond or sukuk (issued by the Federal Government); or (c) Ringgit corporate bond or Sukuk in accordance with relevant guidelines issued by the Securities Commission Malaysia excluding non-tradable Ringgit corporate bond or Sukuk issued to a non-resident entity outside the resident entity's group or a non-resident financial institution ("NRFI").

A resident entity is allowed to borrow in Ringgit up to RM1 million in aggregate (computed based on an aggregate borrowing in Ringgit by the resident entity and other resident entity with a parent-subsidiary relationship) for use in Malaysia from a non-resident excluding a NRFI.

(v) Borrowing in foreign currency by residents

A resident entity is allowed to borrow in foreign currency in any amount from (a) a licensed onshore bank, (b) an entity within the resident entity's group or from the resident entity's direct shareholder except for a NRFI or a non-resident special purpose vehicle which is used to obtain borrowing from any person outside the resident entity's group or (c) through issuance of foreign currency corporate bond or Sukuk to another resident.

A resident entity is allowed to borrow in foreign currency up to RM100 million equivalent in aggregate (computed based on an aggregate borrowing in foreign currency by the resident entity and other resident entity with parent-subsidiary relationship) from (a) non-resident outside the resident entity's group; (b) a NRFI; or (c) a non-resident special purpose vehicle which is used to obtain borrowing from any person outside the resident entity's group.

(vi) Lending by a resident

A person is allowed to lend in Ringgit or foreign currency to a resident or non-resident for any corresponding borrowing (as set out in item (iv) and (v) above) approved under the FE Notices or where the borrowing has otherwise been approved in writing by BNM.

(vii) Giving and obtaining of financial guarantee

A resident guarantor is allowed to give a financial guarantee in any amount in Ringgit or foreign currency to secure any borrowing obtained by a resident in Ringgit or foreign currency as approved in the FE Notices or otherwise approved in writing by BNM.

A non-bank resident guarantor is allowed to give a financial guarantee in any amount in Ringgit or foreign currency to secure a borrowing obtained by a non-resident in Ringgit or foreign currency as approved in the FE Notices, otherwise approved in writing by BNM or borrowing in foreign currency from an NRFI, excluding a financial guarantee given to secure a borrowing (a) obtained by a non-resident borrower which is a special purpose vehicle (i.e.: an entity set up solely for a specific purpose and is not an operating business unit), or if the underlying borrowing is being utilized by the resident guarantor; or (b) where the resident guarantor has entered into a formal or informal arrangement to make repayment of the borrowing in foreign currency other than for an event of default.

A resident lender is allowed to obtain a financial guarantee in any amount in foreign currency or Ringgit from a non-resident guarantor to secure a borrowing obtained by a resident or a non-resident borrower.

**TAXATION**

*The following are certain material Cayman Islands tax, Malaysia tax and U.S. federal income tax considerations relevant to an investment in our Shares. This discussion does not address all of the tax consequences that may be relevant in light of the investor's particular circumstances. Potential investors should consult their tax advisers regarding Malaysia, U.S. federal, state and local, and non-U.S. tax consequences of owning and disposing of our Shares in their particular circumstances. Unless otherwise noted in the following discussion, this section is the opinion of Ogier, insofar as it relates to legal conclusions with respect to matters of Cayman Islands tax law, and of Cheah Teh Su, insofar as it relates to legal conclusions with respect to matters of Malaysia tax law.*

 

**Cayman Islands Taxation**

The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains, or appreciation and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the Government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in, or, after execution, brought within the jurisdiction of the Cayman Islands. No stamp duty is payable in the Cayman Islands on the issue of shares by, or any transfers of shares of, Cayman Islands companies (except those which hold interests in land in the Cayman Islands). There are no exchange control regulations or currency restrictions in the Cayman Islands.

Payments of dividends and capital in respect of our Ordinary Shares will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or capital to any holder of our Ordinary Shares, as the case may be, nor will gains derived from the disposal of our Ordinary Shares be subject to Cayman Islands income or corporation tax.

**Malaysia Taxation**

The following discussion is a summary of the more relevant taxes that are applicable to our Malaysian subsidiary with regards to transactions that they may enter into with a foreign holding company. It excludes specifically all Malaysian taxes that our Malaysian subsidiary is subject to arising from its respective business activities in Malaysia such as income tax, various types of taxes imposable on transactions entered into in the course of conducting its business activities and taxes on capital gains. Generally, there is no taxes on capital gains in Malaysia except for real property gains tax ("RPGT") under the Real Property Gains Tax Act 1976 which is a tax on chargeable gains arising from the disposal of real property or shares in real property companies ("RPC"). Neither subject affects our Malaysian subsidiary as it has not engaged in activities in the said areas.

Further, our Malaysian subsidiary was granted MSC Malaysia status (now known as MD status) by the MDEC on April 12, 2022, and is eligible for income tax exemption in respect of the statutory income derived from its core income generating activity i.e. big data analytical, for a period of five years commencing from April 2, 2024 to April 1, 2029, pursuant to the Income Tax (Exemption)(No.10) Order 2018, subject to the continued fulfillment of the applicable eligibility criteria and compliance with the applicable conditions.

The type of transactions that our Malaysian operating subsidiary typically enter into with its foreign holding company (that is not attributable to a business carried on in Malaysia by the foreign holding company) are royalties, interest or service fees. With respect to such income, the tax liability of the foreign holding company, it being a non-resident will be settled by way of withholding tax ("WHT") deducted by the paying entity, i.e. the Malaysian subsidiary. The following are WHT rates that apply as per the arrangement that exists between the United States of America and Malaysia: (Royalty: 10%, Interest: 15%, Dividends: 0%, Technical fees: 10%)

Payments of the above types of income to non-residents (except for dividends) are subject to WHT which is due and payable to the Inland Revenue Board (IRB) within one month after paying or crediting such payments. There is no WHT on dividends paid by Malaysian companies.

**Transfer pricing**

<u>Transfer pricing ("TP") legislation</u>

The basis for determining proper compensation is, almost universally, the arm's length principle which has also been accepted by the Inland Revenue Board of Malaysia ("IRB").

The arm's length principle was incorporated into Section 140A of the Malaysian Income Tax Act 1967. It allows the Director General of Inland Revenue ("DGIR") to adjust any transfer prices between related parties in Malaysia which, in the view of the DGIR, do not meet the arm's length standard.

What constitutes "arm's length" is not defined in the Income Tax Act 1967 and depends on facts of each case/transaction. Consequently, the IRB has issued the revised Income Tax TP Rules 2023 and the revised TP Guidelines 2024 to give guidance on the arm's length standard that is acceptable to the IRB. The TP Rules and Guidelines seek to provide guidance on the application of the law on controlled transactions, the acceptable methodologies as provided in the rules and administrative requirements including the types of records and documentation expected from taxpayers involved in TP arrangements.

The Income Tax (Transfer Pricing) Rules 2023 further defines the "arm's length range" as a range of figures or a single figure falling between the value of 37.5 percent and 62.5 percent of the data set and acceptable by the director general in determining whether the arm's length price has been applied in a controlled transaction. This range is derived by either applying the same transfer pricing methodology to multiple comparable data or applying different methods, as determined under rule 6 of the Income Tax (Transfer Pricing) Rules 2023.

<u>Advance pricing arrangement (APA)</u>

Companies are allowed to apply for APA from the DGIR. The objective of establishing APA is to provide an avenue for taxpayers to obtain certainty upfront that their related party transactions meet the arm's length standard. The IRB has issued the Income Tax APA Rules 2023 and APA Guidelines 2024 to give guidance on the matter.

<u>Statute of limitation for TP adjustments</u>

The statute of limitation is seven (7) years from the expiration of an assessment year ("YA") for raising an assessment or additional assessment for that YA in respect of TP adjustments for a transaction entered into between associated persons not at arm's length.

<u>Country-by-Country Reporting</u>

The Malaysian Country-by-Country Rules require a Malaysian multinational enterprises ("MNE") group with total consolidated group revenue of at least RM3 billion in the financial year ("FY") preceding the reporting FY (i.e. FY commencing on or after 2017) to prepare and submit the Country-by-Country Report to the IRB no later than 12 months after the close of each FY.

Malaysian entities of foreign MNE groups will generally not be required to prepare and file Country-by-Country Reports as the obligation to file will be with the ultimate holding company in the jurisdiction it is tax resident. However, a notification to the IRB may be required.

**Certain** **Material U.S. Federal Income Tax Considerations**

The following discussion is a summary of certain material U.S. federal income tax considerations generally applicable to U.S. Holders (as defined below) of the ownership and disposition of our Ordinary Shares. This summary applies only to U.S. Holders that hold our Class A ordinary shares ("Ordinary Shares") as capital assets (generally, property held for investment) and that have the U.S. dollar as their functional currency. This summary is based on U.S. tax laws in effect as of the date of this prospectus, on U.S. Treasury regulations in effect or, in some cases, proposed as of the date of this prospectus, and judicial and administrative interpretations thereof available on or before such date. All of the foregoing authorities are subject to change, which could apply retroactively and could affect the tax consequences described below. No ruling has been sought from the United States Internal Revenue Service ("IRS") with respect to any U.S. federal income tax considerations described below, and there can be no assurance that the IRS or a court will not take a contrary position. Moreover, this summary does not address the U.S. federal estate, gift, backup withholding, and alternative minimum tax considerations, or any state, local, and non-U.S. tax considerations, relating to the ownership and disposition of our Ordinary Shares. The following summary does not address all aspects of U.S. federal income taxation that may be important to particular investors in light of their individual circumstances or to persons in special tax situations such as:

● financial institutions or financial services entities;

● underwriters;

● insurance companies;

● pension plans;

● cooperatives;

● regulated investment companies;

● real estate investment trusts;

● grantor trusts;

● broker-dealers;

● subchapter S corporations;

● personal holding companies;

● tax-qualified retirement plans;

● taxpayers that elect to use a mark-to-market method of accounting;

● governments or agencies or instrumentalities thereof;

● certain former U.S. citizens or long-term residents;

● tax-exempt entities (including private foundations);

● persons liable for alternative minimum tax;

● persons holding Ordinary Shares as part of a straddle, hedging, conversion or other integrated transaction;

● persons whose functional currency is not the U.S. dollar;

● passive foreign investment companies;

● controlled foreign corporations;

● persons that directly, indirectly, or constructively own 5% or more of all classes of our stock (by vote or value); or

● partnerships (including entities and arrangements treated as partnerships) for U.S. federal income tax purposes, or persons holding Ordinary Shares through such partnerships.

**PROSPECTIVE INVESTORS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE APPLICATION OF U.S. FEDERAL TAXATION TO THEIR PARTICULAR CIRCUMSTANCES, AND THE STATE, LOCAL, NON-U.S., OR OTHER TAX CONSEQUENCES OF THE OWNERSHIP AND DISPOSITION OF OUR ORDINARY SHARES.**

For purposes of this discussion, a "U.S. Holder" is a beneficial owner of our Ordinary Shares that is, for U.S. federal income tax purposes:

● an individual who is a citizen or resident of the United States;

● a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in the United States or under the laws of the United States, any state thereof or the District of Columbia;

● an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or

● a trust that (1) is subject to the primary supervision of a court within the United States and the control of one or more U.S. persons for all substantial decisions, or (2) has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person.

If a partnership (including any entity or arrangement treated as a partnership) for U.S. federal income tax purposes is a beneficial owner of our Ordinary Shares, the tax treatment of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership. Partnerships holding our Ordinary Shares and their partners are urged to consult their tax advisors regarding an investment in our Ordinary Shares.

***Taxation of Dividends and Other Distributions on Our Ordinary Shares***

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If we were to make a distribution with respect to our Ordinary Shares, subject to the PFIC rules discussed below, a U.S. Holder generally will be required to include in gross income, in accordance with such U.S. Holder's method of accounting for United States federal income tax purposes, as dividends the amount of any such distribution to the extent the distribution is paid out of our current or accumulated earnings and profits (as determined under United States federal income tax principles). Such dividends paid by us will be taxable to a corporate U.S. Holder as dividend income and will not be eligible for the dividends-received deduction generally allowed to domestic corporations in respect of dividends received from other domestic corporations. A non-corporate U.S. Holder will be subject to tax on dividend income from a "qualified foreign corporation" at a preferential applicable capital gains applicable to "qualified dividend income" rate rather than the marginal tax rates generally applicable to ordinary income provided that certain holding period and other requirements are met. A non-U.S. corporation (other than a corporation that is classified as a PFIC for the taxable year in which the dividend is paid or the preceding taxable year) will generally be considered to be a qualified foreign corporation (i) if it is eligible for the benefits of a comprehensive tax treaty with the United States that the U.S. Secretary of Treasury determines is satisfactory for purposes of this provision and includes an exchange of information program, or (ii) with respect to any dividend it pays on stock that is readily tradable on an established securities market in the United States, including Nasdaq. It is unclear whether dividends that we pay on our Ordinary Shares will meet all of the conditions required for the preferential tax rate. The United States has not entered into a comprehensive tax treaty with either Malaysia or the Cayman Islands. However, it is our intention that our Class A Ordinary Shares will be approved for listing on a national securities exchange in the United States (such as Nasdaq). If we are listed on a national securities exchange in the United States, dividends we pay on our Ordinary Shares would be eligible for the preferential rates of taxation described in this paragraph.

Distributions in excess of such earnings and profits generally will be applied against and reduce the U.S. Holder's basis in its Class A Ordinary Shares (but not below zero) and, to the extent in excess of such basis, will be treated as gain from the sale or exchange of such Class A Ordinary Shares. In the event that we do not maintain calculations of our earnings and profits under United States federal income tax principles, a U.S. Holder should expect that all cash distributions will be reported as dividends for United States federal income tax purposes. U.S. Holders should consult their own tax advisors regarding the availability of the preferential rate for any cash dividends paid with respect to our Ordinary Shares.

Dividends paid by us will generally be treated as income from foreign sources for U.S. foreign tax credit purposes and will generally constitute passive category income. Depending on the U.S. Holder's individual facts and circumstances, a U.S. Holder may be eligible, subject to a number of complex limitations, to claim a foreign tax credit not in excess of any applicable treaty rate in respect of certain foreign taxes imposed on dividends received on our Ordinary Shares. A U.S. Holder who does not elect to claim a foreign tax credit for foreign tax imposed may instead claim a deduction, for U.S. federal tax purposes in respect of such taxes but only for a year in which such U.S. Holder elects to do so for all creditable foreign income taxes. The rules governing the foreign tax credit are complex and their application depends in large part on the U.S. Holder's individual facts and circumstances. Accordingly, U.S. Holders are urged to consult their tax advisors regarding the availability of the foreign tax credit under their particular circumstances.

***Taxation of Sale or Other Disposition of Ordinary Shares***

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Subject to the discussion below under "Passive Foreign Investment Company Rules," a U.S. Holder will generally recognize capital gain or loss upon the sale or other disposition of Ordinary Shares in an amount equal to the difference between the amount realized upon the disposition and the U.S. Holder's adjusted tax basis in such Ordinary Shares. Any capital gain or loss will be long term if the Ordinary Shares have been held for more than one year and will generally be U.S.-source gain or loss for U.S. foreign tax credit purposes. Long-term capital gains of non-corporate taxpayers are currently eligible for preferential rates of taxation. The deductibility of a capital loss may be subject to limitations. U.S. Holders are urged to consult their tax advisors regarding the tax consequences if a foreign tax is imposed on a disposition of our Ordinary Shares, including the availability of the foreign tax credit under their particular circumstances.

***Passive Foreign Investment Company Rules***

 ****

A non-U.S. corporation, such as our company, will be classified as a PFIC, for U.S. federal income tax purposes for any taxable year, if either (i) 75% or more of its gross income for such year consists of certain types of "passive" income or (ii) 50% or more of the value of its assets (determined on the basis of a quarterly average) during such year is attributable to assets that produce or are held for the production of passive income. For this purpose, cash and cash equivalents may be categorized as passive assets and the company's goodwill and other unbooked intangibles maybe be categorized as non-passive assets. Passive income generally includes, among other things, dividends, interest, rents, royalties, and gains from the disposition of passive assets. We will be treated as owning a proportionate share of the assets and earning a proportionate share of the income of any other corporation in which we own, directly or indirectly, more than 25% (by value) of the stock.

No assurance can be given as to whether we may be or may become a PFIC, as this is a factual determination made annually that will depend, in part, upon the composition of our income and assets and the value of our assets from time to time (which may be determined, in part, by reference to the market price of our shares, which could be volatile). Furthermore, the composition of our income and assets may also be affected by how, and how quickly, we use our liquid assets and the cash raised in this Offering. Under circumstances where our revenue from activities that produce passive income significantly increase relative to our revenue from activities that produce non-passive income, or where we determine not to deploy significant amounts of cash for active purposes, our risk of becoming classified as a PFIC may substantially increase. In addition, because there are uncertainties in the application of the relevant rules, it is possible that the IRS may challenge our classification of certain income and assets as non-passive or our valuation of our tangible and intangible assets, each of which may result in our becoming a PFIC for the current or other taxable years. If we are a PFIC for any year during which a U.S. Holder held our Ordinary Shares, we generally would continue to be treated as a PFIC with respect to such U.S. Holder for all succeeding years during which such U.S. Holder held our Ordinary Shares even if we cease to be a PFIC in subsequent years, unless certain elections are made. Our U.S. counsel expresses no opinion with respect to our PFIC status for any taxable year.

If we are classified as a PFIC for any taxable year during which a U.S. Holder holds our Ordinary Shares, and unless the U.S. Holder makes a mark-to-market election (as described below), the U.S. Holder will generally be subject to special tax rules that have a penalizing effect, regardless of whether we remain a PFIC, on (i) any excess distribution that we make to the U.S. Holder (which generally means any distribution paid during a taxable year to a U.S. Holder that is greater than 125 percent of the average annual distributions paid in the three preceding taxable years or, if shorter, the U.S. Holder's holding period for the Ordinary Shares), and (ii) any gain realized on the sale or other disposition of Ordinary Shares. Under these rules,

● the U.S. Holder's gain or excess distribution will be allocated ratably over the U.S. Holder's holding period for the Ordinary Shares;

● the amount allocated to the current taxable year and any taxable years in the U.S. Holder's holding period prior to the first taxable year in which we are classified as a PFIC (each, a "pre-PFIC year"), will be taxable as ordinary income;

● the amount allocated to each prior taxable year, other than a pre-PFIC year, will be subject to tax at the highest tax rate in effect for individuals or corporations, as appropriate, for that year; and

● an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each prior taxable year, other than a pre-PFIC year, of the U.S. Holder.

If we are treated as a PFIC for any taxable year during which a U.S. Holder holds our Ordinary Shares, or if any of our subsidiaries is also a PFIC, such U.S. Holder would be treated as owning a proportionate amount (by value) of the shares of any lower-tier PFICs for purposes of the application of these rules. U.S. Holders are urged to consult their tax advisors regarding the application of the PFIC rules to any of our subsidiaries.

As an alternative to the foregoing excessive distribution rules, a U.S. Holder of "marketable stock" in a PFIC may make a mark-to-market election with respect to such stock, provided that such stock is "regularly traded" within the meaning of applicable U.S. Treasury regulations. If our Ordinary Shares qualify as being regularly traded, and an election is made, the U.S. Holder will generally (i) include as ordinary income for each taxable year that we are a PFIC the excess, if any, of the fair market value of Ordinary Shares held at the end of the taxable year over the adjusted tax basis of such Ordinary Shares and (ii) deduct as an ordinary loss the excess, if any, of the adjusted tax basis of the Ordinary Shares over the fair market value of such Ordinary Shares held at the end of the taxable year, but such deduction will only be allowed to the extent of the amount previously included in income as a result of the mark-to-market election. The U.S. Holder's adjusted tax basis in the Ordinary Shares would be adjusted to reflect any income or loss resulting from the mark-to-market election. If a U.S. Holder makes a mark-to-market election in respect of a corporation classified as a PFIC and such corporation ceases to be classified as a PFIC, the U.S. Holder will not be required to take into account the gain or loss described above under the excess distribution regime during any period that such corporation is not classified as a PFIC. If a U.S. Holder makes a mark-to-market election, any gain such U.S. Holder recognizes upon the sale or other disposition of our Ordinary Shares in a year when we are a PFIC will be treated as ordinary income and any loss will be treated as ordinary loss, but such loss will only be treated as ordinary loss to the extent of the net amount previously included in income as a result of the mark-to-market election.

Because a mark-to-market election cannot be made for any lower-tier PFICs that we may own, a U.S. Holder may continue to be subject to the PFIC rules with respect to such U.S. Holder's indirect interest in any investments held by us that are treated as an equity interest in a PFIC for U.S. federal income tax purposes.

Furthermore, as an alternative to the foregoing excess distribution rules, a U.S. Holder that owns stock of a PFIC generally may make a "qualified electing fund" election regarding such corporation to elect out of the PFIC rules described above regarding excess distributions and recognized gains. However, we do not intend to provide information necessary for U.S. Holders to make qualified electing fund elections which, if available, would result in tax treatment different from the general tax treatment for PFICs described above.

If a U.S. Holder owns our Ordinary Shares during any taxable year that we are a PFIC, the U.S. Holder must generally file an annual IRS Form 8621 and provide such other information as may be required by the U.S. Treasury Department, whether or not a mark-to-market election is or has been made. If we are or become a PFIC, you should consult your tax advisor regarding any reporting requirements that may apply to you.

You should consult your tax advisors regarding how the PFIC rules may potentially apply to your investment in our Ordinary Shares.

***Information Reporting and Backup Withholding***

 ****

Certain U.S. Holders are required to report information to the IRS relating to an interest in "specified foreign financial assets," including shares issued by a non-United States corporation, for any year in which the aggregate value of all specified foreign financial assets exceeds $50,000 (or a higher dollar amount prescribed by the IRS), subject to certain exceptions (including an exception for shares held in custodial accounts maintained with a U.S. financial institution). These rules also impose penalties if a U.S. Holder is required to submit such information to the IRS and fails to do so.

In addition, dividend payments with respect to our Ordinary Shares and proceeds from the sale, exchange or redemption of our Ordinary Shares may be subject to additional information reporting to the IRS and possible U.S. backup withholding. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes any other required certification on IRS Form W-9 or who is otherwise exempt from backup withholding. U.S. Holders who are required to establish their exempt status generally must provide such certification on IRS Form W-9. U.S. Holders are urged to consult their tax advisors regarding the application of the U.S. information reporting and backup withholding rules.

Backup withholding is not an additional tax. Any amounts withheld as backup withholding may be credited against your U.S. federal income tax liability, if any, and you may obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the IRS and furnishing any required information. We do not intend to withhold taxes for individual shareholders. However, transactions effected through certain brokers or other intermediaries may be subject to withholding taxes (including backup withholding), and such brokers or intermediaries may be required by law to withhold such taxes.

**EACH PROSPECTIVE INVESTOR SHOULD CONSULT ITS OWN TAX ADVISOR REGARDING THE PARTICULAR U.S. FEDERAL, STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES OF PURCHASING, HOLDING AND DISPOSING OF OUR ORDINARY SHARES, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAWS.**

**THE PRECEDING DISCUSSION OF U.S. FEDERAL TAX CONSIDERATIONS IS FOR GENERAL INFORMATION PURPOSES ONLY. IT IS NOT TAX ADVICE. EACH PROSPECTIVE INVESTOR SHOULD CONSULT ITS OWN TAX ADVISOR REGARDING THE PARTICULAR U.S. FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES OF PURCHASING, HOLDING AND DISPOSING OF OUR SHARES, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAWS**.

**UNDERWRITING**

Subject to the terms and conditions of the underwriting agreement, the underwriters named below (collectively, the "underwriters"), where Network 1 Securities, Inc. is acting as the representative of the underwriters (the "Representative") have severally agreed to purchase from us on a firm commitment basis the following respective number of the Class A Ordinary Shares at the public price less the underwriting discounts set forth on the cover page of this prospectus:

---

| | |
|:---|:---|
| **Name** | **Number of**<br> **Class A Ordinary**<br> **Shares** |
| Network 1 Securities, Inc. | 5000000 |
| Total | 5000000 |

---

The underwriters are committed to purchase all the Class A Ordinary Shares offered by us if any Class A Ordinary Shares are purchased, other than those shares covered by the over-allotment option described below. The underwriters are offering Class A Ordinary Shares subject to their acceptance of the Class A Ordinary Shares from us and subject to prior sale. The underwriting agreement provides that the obligations of the several underwriters to pay for and accept delivery of the Class A Ordinary Shares offered by this prospectus are subject to the approval of certain legal matters by their counsel and to certain other conditions.

**Over-Allotment Option**

If the underwriters sell more Class A Ordinary Shares than the total number set forth in the table above, the Company has granted to the underwriters a 45-day option after the closing of this Offering to purchase up to 750,000 additional Class A Ordinary Shares (15% of the total number of our Class A Ordinary Shares to be offered by us pursuant to this Offering) from us at the initial public offering price less the underwriting discounts, based on the assumed offering price of US$4.5 per Class A Ordinary Share. The underwriters may exercise this option solely for the purpose of covering over-allotments, if any, in connection with this Offering. To the extent the option is exercised, each underwriter must purchase a number of additional Class A Ordinary Shares approximately proportionate to that underwriter's initial purchase commitment. Any Class A Ordinary Shares issued or sold under the option will be issued and sold on the same terms and conditions as the other Class A Ordinary Shares that are the subject of this Offering.

**Discounts and Expenses**

Our Company has agreed to pay the underwriters a cash fee equal to seven percent (7.0%) of the aggregate gross proceeds raised in this Offering. The following table shows the price per share and total public offering price, underwriting discounts, and proceeds before expenses to us.

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| | | | |
|:---|:---|:---|:---|
|  | **Per Class A Ordinary Share** | **Total Without**<br> **Exercise of**<br> **Over-Allotment**<br> **Option** | **Total With Full**<br> **Exercise of**<br> **Over-Allotment**<br> **Option** |
| Initial public offering price | $[\*] | $[\*] | $[\*] |
| Underwriting discounts to be paid by us | $[\*] | $[\*] | $[\*] |
| Proceeds, before expenses, to us | $[\*] | $[\*] | $[\*] |

---

Our Company has agreed to pay reasonable and documented the accountable expenses of the Representative of up to US$150,000, which includes, without limitation, travel, due diligence expenses, fees and expenses of the Representative's legal counsel, roadshow and background check on the Company's principals. As of the date of this prospectus, we have paid an advance of US$50,000 to the Representative to be applied to the underwriters' anticipated out-of-pocket expenses. Any advance will be returned to our Company to the extent such out-of-pocket accountable expenses are not actually incurred, or are less than the advances in accordance with FINRA Rule 5110(g)(4).

Our Company has also agreed to pay the Representative a non-accountable expense, equal to one percent (1.0%) of the gross proceeds received by us from the sale of the Class A Ordinary Shares, including shares sold pursuant to the exercise of the over-allotment option.

We have agreed to pay our expenses related to this Offering. We estimate that our total expenses related to this Offering, excluding the estimated discounts to the Underwriters and payment of the Underwriters' non-accountable expenses referred to above, will be approximately US$1,002,430.

**Warrants**

In addition, we have agreed to grant the Representative non-redeemable warrants to purchase an amount equal to seven and a half percent (7.5%) of the Class A Ordinary Shares sold in this Offering (including any shares sold upon exercise of the over-allotment option), which warrants will be exercisable at any time, will be subject to lock up for 180 days from the date of issuance in accordance with FINRA Rule 5510, and will expire five years from the commencement of sales of this Offering. The warrants will be exercisable at a price equal to 125% of the public offering price of the Class A Ordinary Shares sold in this Offering. We will register the Class A Ordinary Shares underlying the Underwriters' warrants and will file all necessary undertakings in connection therewith. The underwriter's warrants and the Class A Ordinary Shares underlying the Underwriters' warrants may not be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the securities by any person for a period of 180 days beginning on the date of commencement of sales of this Offering (in accordance with FINRA Rule 5110), except that they may be assigned, in whole or in part, to any member participating in this Offering and the officers or partners thereof, and that all securities so transferred remain subject to the lock-up restriction for the remainder of the time period. The Underwriters' warrants may be exercised as to all or a lesser number of Class A Ordinary Shares and will provide for cashless exercise. The Underwriters' warrants contain a provision for one demand registration, at the expense of the Company, and one additional demand right at the expense of the holder of the Underwriters' warrants, in compliance with FINRA rule 5110(g)(8)(B). The demand registration rights may be exercised at any time following issuance of the warrants but no later than five years following the commencement of sales of the Offering in compliance with FINRA rule 5110(g)(8)(C). The Underwriters' warrants also contain unlimited "piggyback" registration rights at our expense. The piggyback registration rights may be exercised at any time following issuance of the warrants but no later than five years following commencement of sales of the Offering in compliance with FINRA rule 5110(g)(8)(D).

**Tail Financings**

We have agreed that if at any time prior to the first anniversary of the final closing date of this Offering, the Company, or any of its affiliates, shall enter into any transaction (including, without limitation, any merger, consolidation, acquisition, financing, joint venture or other arrangement) with any party directly introduced to the Company by the representative during this Offering and the aforementioned time period, the Company shall pay the representative a success fee, at the closing of such transaction, equal to 1% of the consideration or value received by the Company and/or its shareholders. To the extent the Company terminates its agreement with the Underwriters for cause, the right set forth in this section shall terminate in accordance with FINRA Rule 5110.

**Electronic Offer, Sale and Distribution**

A prospectus in electronic format may be made available on the web sites maintained by one or more underwriters, or selling group members, if any, participating in the offering. The underwriters may agree to allocate a number of Class A Ordinary Shares to underwriters and selling group members for sale to their online brokerage account holders. Internet distributions will be allocated by the Representative to underwriters and selling group members that may make internet distributions on the same basis as other allocations.

**Lock-up Agreements**

We, together with each and any of our successors, have agreed not to, for a period of 180 days after the closing of this Offering, directly or indirectly, (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC a registration statement under the Securities Act relating to, any Class A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Ordinary Shares or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Class A Ordinary Shares or such other securities, in cash or otherwise, except to the underwriters in connection with this Offering. The Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration of the lock-up period.

Furthermore, each of our directors and executive officers and shareholders holding 5% or more of the issued and outstanding Class A Ordinary Shares has also entered into a similar lock-up agreement for a period of 180 days from the date of this prospectus, subject to certain exceptions, with respect to our Class A Ordinary Shares and securities that are substantially similar to our Class A Ordinary Shares. Pursuant to such lock-up agreements, each of our directors and executive officers and shareholders holding 5% or more of the issued and outstanding Class A Ordinary Shares has agreed, subject to limited exceptions set forth below, not to (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC a registration statement under the Securities Act relating to, any Class A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Ordinary Shares or any such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Class A Ordinary Shares or such other securities, in cash or otherwise, except to the underwriters in connection with this Offering. The Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration of the lock-up period.

The foregoing shall not apply to (i) Class A Ordinary Shares to be sold in the Offering; (ii) any over-allotment shares, (iii) any Class A Ordinary Shares issued or options to purchase Class A Ordinary Shares or other Class A Ordinary Shares -based awards granted pursuant to any stock incentive plan, stock purchase plan, stock ownership plan or dividend reinvestment plan of the Company in effect at the Effective Date; (iii) issuance of Class A Ordinary Shares pursuant to the conversion or exchange of convertible or exchangeable securities or the exercise of warrants or options, in each case outstanding at the Effective Date; (iv) issuance of Class A Ordinary Shares in connection with strategic acquisitions; or (v) transfers by a shareholder (A) by bona fide gift, (B) by will or intestacy to the spouse, parents, siblings, first cousins or any lineal descendant of such shareholder or such shareholder's spouse, including step relationships and relationships by adoption (each a, "family member"), (C) to any trust for the benefit of such shareholder or a family member of such shareholder, (D) to the estate of such shareholder, or (E) to any affiliate of such shareholder or by distribution to any partners, members or shareholders of such shareholder.

**Indemnification**

We have agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act. If we are unable to provide this indemnification, we will contribute to payments that the Underwriters may be required to make for these liabilities.

**Listing**

We intend to apply to have our Class A Ordinary Shares approved for listing on Nasdaq under the symbol "TKDG". We make no representation that such application will be approved or that our Class A Ordinary Shares will trade on such market either now or at any time in the future; notwithstanding the foregoing, we will not close this Offering unless such Class A Ordinary Shares will be so listed at completion of this Offering.

**Stabilization**

Prior to this Offering, there has been no public market for the Class A Ordinary Shares. Consequently, the initial public offering price for the Class A Ordinary Shares will be determined by negotiations among us and the Representative. Among the factors to be considered in determining the initial public offering price are the Company's results of operations, its current financial condition, its future prospects, its markets, the economic conditions in and future prospects for the industry in which the Company competes, its management and currently prevailing general conditions in the equity securities markets, including current market valuations of publicly traded companies considered comparable to the Company. Neither the Company nor the underwriters can assure investors that an active trading market will develop for the Class A Ordinary Shares, or that Class A Ordinary Shares will trade in the public market at or above the initial public offering price.

The Company plans to have the Class A Ordinary Shares approved for listing on Nasdaq under the symbol "TKDG".

In connection with the offering the underwriters may engage in stabilizing transactions, over-allotment transactions, syndicate covering transactions, penalty bids and passive market making in accordance with Regulation M under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

● Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum.

● Over-allotment involves sales by the Underwriter of the Class A Ordinary Share in excess of the number of shares the underwriters are obligated to purchase, which creates a syndicate short position. The short position may be either a covered short position or a naked short position. In a covered short position, the number of shares over-allotted by the underwriters is not greater than the number of shares that they may purchase in the over-allotment option. In a naked short position, the number of shares involved is greater than the number of shares in the over-allotment option. The underwriters may close out any covered short position by either exercising their over-allotment option and/or purchasing shares in the open market.

● Syndicate covering transactions involve purchases of shares in the open market after the distribution has been completed in order to cover syndicate short positions. In determining the source of shares to close out the short position, the underwriters will consider, among other things, the price of the Class A Ordinary Share available for purchase in the open market as compared to the price at which they may purchase shares through the over-allotment option. If the underwriters sell more shares than could be covered by the over-allotment option, a naked short position, the position can only be closed out by buying shares in the open market. A naked short position is more likely to be created if the underwriters are concerned that there could be downward pressure on the price of the shares in the open market after pricing that could adversely affect investors who purchase in the offering.

● Penalty bids permit the representatives to reclaim a selling concession from a syndicate member when the Class A Ordinary Share originally sold by the syndicate member is purchased in a stabilizing or syndicate covering transaction to cover syndicate short positions.

● In passive market making, market makers in the shares who are the underwriters or prospective underwriter may, subject to limitations, make bids for or purchases of the Class A Ordinary Share until the time, if any, at which a stabilizing bid is made.

These stabilizing transactions, syndicate covering transactions and penalty bids may have the effect of raising or maintaining the market price of the Class A Ordinary Shares or preventing or retarding a decline in the market price of the Class A Ordinary Shares. As a result, the price of the Class A Ordinary Shares may be higher than the price that might otherwise exist in the open market. These transactions may be effected on Nasdaq or otherwise, and, if commenced, may be discontinued at any time.

A prospectus in electronic format may be made available by e-mail or on the websites or through online services maintained by one or more of the underwriters or their affiliates. In those cases, prospective investors may view offering terms online and may be allowed to place orders online. The underwriters may agree with us to allocate a specific number of the Class A Ordinary Shares for sale to online brokerage account holders. Any such allocation for online distributions will be made by the underwriters on the same basis as other allocations. Other than the prospectus in electronic format, the information on the underwriters' websites and any information contained in any other website maintained by any of the underwriters is not part of this prospectus, has not been approved and/or endorsed by us or the underwriters and should not be relied upon by investors.

**Relationships**

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, principal investment, hedging, financing and brokerage activities. Certain of the underwriters and their respective affiliates may, from time to time, engage in transactions with and perform services for us in the ordinary course of their business for which they may receive customary fees and reimbursement of expenses. In addition, in the ordinary course of their various business activities, the underwriters and their respective affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (which may include bank loans and/or credit default swaps) for their own account and for the accounts of their customers and may at any time hold long and short positions in such securities and instruments. Such investments and securities activities may involve securities and/or instruments of the Company or its affiliates. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to customers that they acquire, long and/or short positions in such securities and instruments.

The Company has agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute to payments the underwriters may be required to make because of any of those liabilities.

**Selling Restrictions**

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

**Notice to Investors**

***Notice to Prospective Investors in Malaysia***

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No prospectus or other offering material or document in connection with the offer and sale of the Class A Ordinary Shares has been or will be registered with the Securities Commission Malaysia ("Commission") for the Commission's approval pursuant to the Capital Markets and Services Act 2007. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the Class A Ordinary Shares may not be circulated or distributed, nor may the Class A Ordinary Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Malaysia except to persons falling within any of paragraphs 9 and 14(a) of Schedule 5 of the Capital Markets and Services Act 2007, provided that, the distribution of the Class A Ordinary Shares is made by a holder of a Capital Markets Services License who carries on the business of dealing in securities. The distribution in Malaysia of this prospectus is subject to Malaysian laws. This prospectus does not constitute and may not be used for the purpose of public offering or an issue, offer for subscription or purchase, invitation to subscribe for or purchase any securities requiring the registration of a prospectus with the Commission under the Capital Markets and Services Act 2007.

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***Notice to Prospective Investors in the European Economic Area***

In relation to each member state of the European Economic Area, an offer of Class A Ordinary Shares described in this prospectus may not be made to the public in that member state unless the prospectus has been approved by the competent authority in such member state or, where appropriate, approved in another member state and notified to the competent authority in that member state, all in accordance with the Prospectus Regulation, except that an offer to the public in that member state of any Class A Ordinary Shares may be made at any time under the following exemptions under the Prospectus Regulation:

● to any legal entity which is a qualified investor as defined in the Prospectus Regulation;

● to fewer than 150 natural or legal persons (other than qualified investors as defined in the Prospectus Regulation), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the relevant Dealer or Dealers nominated by us for any such offer; or

● in any other circumstances falling within Article 1(4) of the Prospectus Regulation,

provided that no such offer of Class A Ordinary Shares shall require us or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation.

For purposes of this provision, the expression an "offer of securities to the public" in any member state means the communication in any form and by any means of sufficient information on the terms of the offer and the Class A Ordinary Shares to be offered so as to enable an investor to decide to purchase or subscribe for the Class A Ordinary Shares and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129.

The sellers of the Class A Ordinary Shares have not authorized and do not authorize the making of any offer of the Class A Ordinary Shares through any financial intermediary on their behalf, other than offers made by the underwriters with a view to the final placement of the Class A Ordinary Shares as contemplated in this prospectus. Accordingly, no purchaser of the Class A Ordinary Shares, other than the underwriters, is authorized to make any further offer of the Class A Ordinary Shares on behalf of the sellers or the underwriters.

***Notice to Prospective Investors in the United Kingdom***

This prospectus is only being distributed to, and is only directed at, persons in the United Kingdom that are qualified investors as defined in the Prospectus Regulation that are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, or Order, or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (each such person being referred to as a "relevant person"). This prospectus and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other persons in the United Kingdom. Any person in the United Kingdom that is not a relevant person should not act or rely on this document or any of its contents.

***Notice to Prospective Investors in France***

Neither this prospectus nor any other offering material relating to the Class A Ordinary Shares described in this prospectus has been submitted to the clearance procedures of the Autorité des Marchés Financiers or of the competent authority of another member state of the European Economic Area and notified to the Autorité des Marchés Financiers. The Class A Ordinary Shares have not been offered or sold and will not be offered or sold, directly or indirectly, to the public in France. Neither this prospectus nor any other offering material relating to the Class A Ordinary Shares has been or will be:

● released, issued, distributed or caused to be released, issued or distributed to the public in France; or

● used in connection with any offer for subscription or sale of the Class A Ordinary Shares to the public in France.

Such offers, sales and distributions will be made in France only:

● to qualified investors (*investisseurs qualifiés*) and/or to a restricted circle of investors (*cercle restreint d'investisseurs*), in each case investing for their own account, all as defined in, and in accordance with articles L.411-2, D.411-1, D.411-2, D.734-1, D.744-1, D.754-1 and D.764-1 of the French Code *monétaire et financier*;

● to investment services providers authorized to engage in portfolio management on behalf of third parties; or

● in a transaction that, in accordance with article L.411-2-II-1° -or-2° -or 3° of the French Code *monétaire et financier* and article 211-2 of the General Regulations (*Règlement Général*) of the Autorité des Marchés Financiers, does not constitute a public offer (*appel public à l'épargne*).

The Class A Ordinary Shares may be resold directly or indirectly, only in compliance with articles L.411-1, L.411-2, L.412-1 and L.621-8 through L.621-8-3 of the French Code monétaire et financier.

***Notice to Prospective Investors in Switzerland***

This document, as well as any other offering or marketing material relating to the Class A Ordinary Shares which are the subject of the offering contemplated by this prospectus, neither constitutes a prospectus pursuant to Article 652a or Article 1156 of the Swiss Code of Obligations nor a simplified prospectus as such term is understood pursuant to article 5 of the Swiss Federal Act on Collective Investment Schemes. Neither the Class A Ordinary Shares nor the shares underlying the Class A Ordinary Shares will be listed on the SIX Swiss Exchange and, therefore, the documents relating to the Class A Ordinary Shares, including, but not limited to, this document, do not claim to comply with the disclosure standards of the listing rules of SIX Swiss Exchange and corresponding prospectus schemes annexed to the listing rules of the SIX Swiss Exchange.

***Notice to Prospective Investors in Australia***

This prospectus is not a formal disclosure document and has not been, nor will be, lodged with the Australian Securities and Investments Commission. It does not purport to contain all information that an investor or their professional advisers would expect to find in a prospectus or other disclosure document (as defined in the Corporations Act 2001 (Australia)) for the purposes of Part 6D.2 of the Corporations Act 2001 (Australia) or in a product disclosure statement for the purposes of Part 7.9 of the Corporations Act 2001 (Australia), in either case, in relation to the Class A Ordinary Shares.

The Class A Ordinary Shares are not being offered in Australia to "retail clients" as defined in sections 761G and 761GA of the Corporations Act 2001 (Australia). This Offering is being made in Australia solely to "wholesale clients" for the purposes of section 761G of the Corporations Act 2001 (Australia) and, as such, no prospectus, product disclosure statement or other disclosure document in relation to the securities has been, or will be, prepared.

This prospectus does not constitute an offer in Australia other than to wholesale clients. By submitting an application for the Ordinary Shares, you represent and warrant to us that you are a wholesale client for the purposes of section 761G of the Corporations Act 2001 (Australia). If any recipient of this prospectus is not a wholesale client, no offer of, or invitation to apply for, the Class A Ordinary Shares shall be deemed to be made to such recipient and no applications for the Class A Ordinary Shares will be accepted from such recipient. Any offer to a recipient in Australia, and any agreement arising from acceptance of such offer, is personal and may only be accepted by the recipient. In addition, by applying for the Class A Ordinary Shares you undertake to us that, for a period of 12 months from the date of issue of the Class A Ordinary Shares, you will not transfer any interest in the Class A Ordinary Shares to any person in Australia other than to a wholesale client.

***Notice to Prospective Investors in Hong Kong***

The Class A Ordinary Shares may not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Cap. 32 of the Laws of Hong Kong), or (ii) to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and any rules made thereunder, or (iii) in other circumstances which do not result in the document being a "prospectus" within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong) and no advertisement, invitation or document relating to the Class A Ordinary Shares may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with respect to Class A Ordinary Shares which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and any rules made thereunder.

***Notice to Prospective Investors in Japan***

The Class A Ordinary Shares offered in this prospectus have not been and will not be registered under the Financial Instruments and Exchange Law of Japan. The Class A Ordinary Shares have not been offered or sold and will not be offered or sold, directly or indirectly, in Japan or to or for the account of any resident of Japan (including any corporation or other entity organized under the laws of Japan), except (i) pursuant to an exemption from the registration requirements of the Financial Instruments and Exchange Law and (ii) in compliance with any other applicable requirements of Japanese law.

***Notice to Prospective Investors in Singapore***

This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the Class A Ordinary Shares may not be circulated or distributed, nor may the Class A Ordinary Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274 of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA"), (ii) to a relevant person pursuant to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275 of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to compliance with conditions set forth in the SFA.

Where the Class A Ordinary Shares are subscribed or purchased under Section 275 of the SFA by a relevant person which is:

● a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or

● a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor,

shares, debentures and units of shares and debentures of that corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the Class A Ordinary Shares pursuant to an offer made under Section 275 of the SFA except:

● to an institutional investor (for corporations, under Section 274 of the SFA) or to a relevant person defined in Section 275(2) of the SFA, or to any person pursuant to an offer that is made on terms that such shares, debentures and units of shares and debentures of that corporation or such rights and interest in that trust are acquired at a consideration of not less than US$200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is to be paid for in cash or by exchange of securities or other assets, and further for corporations, in accordance with the conditions specified in Section 275 of the SFA;

● where no consideration is or will be given for the transfer; or

● where the transfer is by operation of law.

***Notice to Prospective Investors in Canada***

The Class A Ordinary Shares may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the Class A Ordinary Shares must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 (or, in the case of securities issued or guaranteed by the government of a non-Canadian jurisdiction, section 3A.4) of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this Offering.

***Notice to Prospective Investors in the Cayman Islands***

This prospectus does not constitute a public offer of the Class A Ordinary Shares, whether by way of sale or subscription, in the Cayman Islands. The Class A Ordinary Shares have not been offered or sold, and will not be offered or sold, directly or indirectly, in the Cayman Islands.

***Notice to Prospective Investors in the PRC***

This prospectus has not been and will not be circulated or distributed in the PRC, and the Class A Ordinary Shares may not be offered or sold, and will not be offered or sold to any person for re-offering or resale, directly or indirectly, to any residents of the PRC except pursuant to applicable laws and regulations of the PRC. For the purposes of this paragraph, the PRC does not include Taiwan, Hong Kong or Macau.

***Notice to Prospective Investors in Taiwan***

The Class A Ordinary Shares have not been and will not be registered or filed with, or approved by, the Financial Supervisory Commission of Taiwan pursuant to relevant securities laws and regulations and may not be offered or sold in Taiwan through a public offering or in circumstances which constitute an offer within the meaning of the Securities and Exchange Act of Taiwan or relevant laws and regulations that require a registration, filing or approval of the Financial Supervisory Commission of Taiwan. No person or entity in Taiwan has been authorized to offer or sell the Class A Ordinary Shares in Taiwan.

***Notice to Prospective Investors in Qatar***

In the State of Qatar, the offer contained herein is made on an exclusive basis to the specifically intended recipient thereof, upon that person's request and initiative, for personal use only and shall in no way be construed as a general offer for the sale of securities to the public or an attempt to do business as a bank, an investment company or otherwise in the State of Qatar. This prospectus and the underlying securities have not been approved or licensed by the Qatar Central Bank or the Qatar Financial Centre Regulatory Authority or any other regulator in the State of Qatar. The information contained in this prospectus shall only be shared with any third parties in Qatar on a need to know basis for the purpose of evaluating the contained offer. Any distribution of this prospectus by the recipient to third parties in Qatar beyond the terms hereof is not permitted and shall be at the liability of such recipient.

***Notice to Prospective Investors in Kuwait***

Unless all necessary approvals from the Kuwait Ministry of Commerce and Industry required by Law No. 31/1990 "Regulating the Negotiation of Securities and Establishment of Investment Funds," its Executive Regulations and the various Ministerial Orders issued pursuant thereto or in connection therewith, have been given in relation to the marketing and sale of the Class A Ordinary Shares, these may not be marketed, offered for sale, nor sold in the State of Kuwait. Neither this prospectus (including any related document), nor any of the information contained therein is intended to lead to the conclusion of any contract of whatsoever nature within Kuwait. Investors in Kuwait who approach us or any of the underwriters to obtain copies of this prospectus are required by us and the underwriters to keep such prospectus confidential and not to make copies thereof nor distribute the same to any other person in Kuwait and are also required to observe the restrictions provided for in all jurisdictions with respect to offering, marketing and the sale of the Class A Ordinary Shares.

***Notice to Prospective Investors in the United Arab Emirates***

The Class A Ordinary Shares have not been offered or sold, and will not be offered or sold, directly or indirectly, in the United Arab Emirates, except: (1) in compliance with all applicable laws and regulations of the United Arab Emirates; and (2) through persons or corporate entities authorized and licensed to provide investment advice and/or engage in brokerage activity and/or trade in respect of foreign securities in the United Arab Emirates. The information contained in this prospectus does not constitute a public offer of securities in the United Arab Emirates in accordance with the Commercial Companies Law (Federal Law No. 8 of 1984 (as amended)) or otherwise and is not intended to be a public offer and is addressed only to persons who are sophisticated investors.

***Notice to Investors in the Dubai International Financial Centre***

This document relates to an Exempt Offer, as defined in the Offered Securities Rules module of the DFSA Rulebook, or the OSR, in accordance with the Offered Securities Rules of the Dubai Financial Services Authority. This document is intended for distribution only to Persons, as defined in the OSR, of a type specified in those rules. It must not be delivered to, or relied on by, any other Person. The Dubai Financial Services Authority has no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The Dubai Financial Services Authority has not approved this document nor taken steps to verify the information set out in it, and has no responsibility for it. The Class A Ordinary Shares to which this document relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the Class A Ordinary Shares offered should conduct their own due diligence on the Class A Ordinary Shares. If you do not understand the contents of this document, you should consult an authorized financial adviser.

***Notice to Prospective Investors in Saudi Arabia***

This prospectus may not be distributed in the Kingdom of Saudi Arabia except to such persons as are permitted under the Offers of Securities Regulations issued by the Capital Market Authority. The Capital Market Authority does not make any representation as to the accuracy or completeness of this prospectus, and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this prospectus. Prospective purchasers of the securities offered hereby should conduct their own due diligence on the accuracy of the information relating to the securities. If you do not understand the contents of this prospectus, you should consult an authorized financial adviser.

**EXPENSES OF THE OFFERING**

Set forth below is an itemization of the total expenses, excluding the underwriting discounts and non-accountable expense allowance, which are expected to be incurred in connection with the sale of Class A Ordinary Shares in this Offering. With the exception of the registration fee payable to the SEC, the Nasdaq Capital Market listing fee and the filing fee payable to Financial Industry Regulatory Authority, Inc, or FINRA, all amounts are estimates.

---

| | |
|:---|:---|
| SEC registration fee | $4343 |
| The Nasdaq Capital Market listing fee | $75000 |
| FINRA filing fee | $3087 |
| Printing expenses | $20000 |
| Legal fees and expenses | $290000 |
| Accounting fees and expenses | $400000 |
| Transfer agent and registrar fee and expenses | $10000 |
| Underwriters' accountable expenses | $150000 |
| Miscellaneous | $50000 |
| **Total** | $1002430 |

---

\* To be filed by amendment

**LEGAL MATTERS**

The validity of the Class A Ordinary Shares offered in this Offering and certain other legal matters as to Cayman Islands law will be passed upon for us by Ogier, our Cayman Islands counsel. Certain legal matters as to Malaysia law will be passed upon for us by Cheah Teh Su, our Malaysia counsel. Certain other legal matters as to United States Federal and New York State law in connection with this Offering will be passed upon for us by Loeb & Loeb LLP, New York, New York. Certain legal matters as to United States Federal and New York State law in connection with this Offering will be passed upon for the Underwriters by Hunter Taubman Fischer & Li LLC.

**EXPERTS**

The combined financial statements of 3Knights Dynamics Group Limited as of August 31, 2025 and 2024, and for the years then ended, have been audited by WS & CO PLT, Independent Registered Public Accounting Firm, as set forth in their report elsewhere herein. Such combined financial statements have been so included in reliance upon such report given upon the authority of such firm as experts in accounting and auditing.

**ENFORCEMENT OF CIVIL LIABILITIES**

We are incorporated under the laws of the Cayman Islands. Service of process upon us and upon our directors and officers, many of whom reside outside of the United States, may be difficult to obtain within the United States. Furthermore, because substantially all of our assets and substantially all of our directors and officers are located outside the United States, any judgment obtained in the United States against us or any of our directors and officers may be difficult to collect within the United States.

We have irrevocably appointed Cogency Global Inc. as our agent to receive service of process in any action against us in any U.S. federal or state court arising out of this Offering or any purchase or sale of securities in connection with this Offering. The address of our agent is 122 East 42<sup>nd</sup> Street, 18<sup>th</sup> Floor, New York, NY 10168.

**Cayman Islands**

Ogier, our counsel as to Cayman Islands law, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would (i) recognize or enforce judgments of U.S. courts obtained against us or our directors or officers that are predicated upon the civil liability provisions of the federal securities laws of the United States or the securities laws of any state in the United States, or (2) entertain original actions brought in the Cayman Islands against us or our directors or officers that are predicated upon the federal securities laws of the United States or the securities laws of any state in the United States.

Ogier further advised us that there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands will in certain circumstances recognize and enforce a foreign judgment, without any re-examination or re-litigation of matters adjudicated upon, provided such judgment:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is
 given by a foreign court of competent jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;(b) imposes
 on the judgment debtor a liability to pay a liquidated sum for which the judgment has been
 given;

&nbsp;&nbsp;&nbsp;&nbsp;(c) is
 final;

&nbsp;&nbsp;&nbsp;&nbsp;(d) is
 not in respect of taxes, a fine or a penalty;

&nbsp;&nbsp;&nbsp;&nbsp;(e) was
 not obtained by fraud; and

&nbsp;&nbsp;&nbsp;&nbsp;(f) is
 not of a kind the enforcement of which is contrary to natural justice or the public policy
 of the Cayman Islands.

Subject to the above limitations, in appropriate circumstances, a Cayman Islands court may give effect in the Cayman Islands to other kinds of final foreign judgments such as declaratory orders, orders for performance of contracts and injunctions.

A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

**Malaysia**

Substantially all of our assets are located in Malaysia. In addition, most of our directors and officers are nationals or residents of Malaysia and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or these persons, or to enforce against us or them judgments obtained in United States courts, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States.

An investor may or may not be able to commence an original action against us or our directors or officers, or any person, before the courts outside the United States to enforce liabilities under United States federal securities laws, depending on the nature of the action.

Cheah Teh Su, our Malaysian counsel, has further advised us that there are currently no statutes, treaties, or other forms of reciprocity between the United States and Malaysia providing for the mutual recognition and enforcement of court judgments. Under Malaysian laws, a foreign judgment cannot be directly or summarily enforced in Malaysia. The judgment must first be recognized by a Malaysian court either under applicable Malaysian laws or in accordance with common law principles. For Malaysian courts to accept the jurisdiction for recognition of a foreign judgment, the foreign country where the judgment is made must be a reciprocating country expressly specified and listed in the Reciprocal Enforcement of Judgments Act 1958, Maintenance Orders (Facilities for Enforcement) Act 1949 or Probate and Administration Act 1959. As the United States is not one of the countries specified under the statutory regime where a foreign judgment can be recognized and enforced in Malaysia, a judgment obtained in the United States must be enforced by commencing fresh proceedings in a Malaysian court. The requirements for a foreign judgment to be recognized and enforceable in Malaysia are: (i) the judgment must be a monetary judgment; (ii) the foreign court must have had jurisdiction accepted by a Malaysian court; (iii) the judgment was not obtained by fraud; (iv) the enforcement of the judgment must not contravene public policy in Malaysia; (v) the proceedings in which the judgment was obtained were not opposed to natural justice, and (vi) the judgment must be final and conclusive.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the SEC a Registration Statement on Form F-1 under the Securities Act, including amendments and relevant exhibits and schedules, covering the underlying Shares represented by the Shares to be sold in this Offering.

Upon the completion of our initial public offering, we will be required to file periodic reports, proxy statements, and other information with the SEC pursuant to the Exchange Act. The SEC maintains a website that contains reports, proxy statements, and other information about issuers, such as us, who file electronically with the SEC. The address of that website is http://www.sec.gov.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**INDEX TO FINANCIAL STATEMENTS**

**\*\*\*\*\***

---

| | |
|:---|:---|
| **<u>Audited Financial Statements</u>** | **Page No.** |
| [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID 7170)](#me_001) | F-2 |
| [CONSOLIDATED STATEMENTS OF FINANCIAL POSITION](#me_002) | F-3 |
| [CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME](#me_003) | F-5 |
| [CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY](#me_004) | F-6 |
| [CONSOLIDATED STATEMENTS OF CASH FLOWS](#me_005) | F-8 |
| [NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS](#me_006) | F-11 |

---

---

| | |
|:---|:---|
| **<u>Unaudited Financial Statements</u>** | **Page No.** |
| [REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#sh_001) (PCAOB ID 7170) | F-52 |
| [UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION](#sh_002) | F-53 |
| [UNAUDITED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME](#sh_003) | F-54 |
| [UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY](#sh_004) | F-55 |
| [UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS](#sh_005) | F-57 |
| [NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS](#sh_006) | F-59 |

---

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**TO THE MEMBERS OF 3KNIGHTS DYNAMICS GROUP LIMITED**

(Company No.: 426647)

(Incorporated in Cayman Islands)

**Report on the Audit of the Consolidated Financial Statements**

**Opinion**

We have audited the accompanying consolidated financial statements of 3Knights Dynamics Group Limited ("the Company") and its subsidiary (collectively referred as "the Group"), which comprise the consolidated statement of financial position as at August 31, 2025 and August 31, 2024 of the Group, and the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows of the Group for the financial years then ended, and notes to the consolidated financial statements, including material accounting policy information, as set out on pages F-3 to F-51. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Group as at August 31, 2025 and August 31, 2024, and the results of their operations and their cash flows for the financial years then ended are in conformity with International Financial Reporting Standards issued by the International Accounting Standards Board.

**Basis for Opinion**

These consolidated financial statements are the responsibility of the Group's management. Our responsibility is to express an opinion on the consolidated financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Group in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Group is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.

---

| |
|:---|
| /s/ WS & CO PLT |
| WS & CO PLT |
| 202206000035 (LLP0033211-LCA) & AF002338 |
| Chartered Accountants |

---

We have served as the Company's auditor since 2025.

JOHOR BAHRU, MALAYSIA

March 6, 2026

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF FINANCIAL POSITION**

**AS AT 31 AUGUST 2025 AND 31 AUGUST 2024**

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Note** | **2025**<br>**USD** | **2024**<br>**USD** |
| **ASSETS** |  |  |  |
| **Non-Current Assets** |  |  |  |
| Property, plant and equipment | 4 | 10948 |  |
| Right-of-use assets | 5 | 12506 | 33229 |
| Deferred tax asset | 6 | 434 | 2300 |
|  |  | 23888 | 35529 |
| **Current Assets** |  |  |  |
| Trade receivables | 7 | 643855 | 917946 |
| Other receivables | 8 | 7545 | 6888 |
| Cash and bank balances |  | 475280 | 357 |
|  |  | 1126680 | 925191 |
| **Total Assets** |  | 1150568 | 960720 |

---

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF FINANCIAL POSITION**

**AS AT 31 AUGUST 2025 AND 31 AUGUST 2024 (CONT'D)**

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Note** | **2025**<br>**USD** | **2024**<br>**USD** |
| **EQUITY AND LIABILITIES** |  |  |  |
| **Equity** |  |  |  |
| Class A Ordinary Shares | 9 | 2300 | 2300 |
| Class B Ordinary Shares | 9 | 200 | 200 |
| Merger reserve |  | 2192 | 2192 |
| Foreign currency translation reserve | 10 | (4643) | 7481 |
| Retained earnings |  | 717164 | 87565 |
| **Total Equity** |  | 717213 | 99738 |
| **Non-Current Liabilities** |  |  |  |
| Lease liabilities | 11 |  | 12837 |
| Borrowings | 12 | 22420 | - |
|  |  | 22420 | 12837 |
| **Current Liabilities** |  |  |  |
| Trade payables | 13 | 232794 | 616677 |
| Other payables | 14 | 19599 | 165120 |
| Amount due to Directors | 15 | 91957 | 37071 |
| Lease liabilities | 11 | 13113 | 20856 |
| Borrowings | 12 | 46548 |  |
| Tax payable |  | 6924 | 8421 |
|  |  | 410935 | 848145 |
| **Total Liabilities** |  | 433355 | 860982 |
| **Total Equity and Liabilities** |  | 1150568 | 960720 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND**

**OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEARS ENDED**

**31 AUGUST 2025 AND 31 AUGUST 2024**

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Note** | **2025**<br>**USD** | **2024**<br>**USD** |
| Revenue | 16 | 6350558 | 921530 |
| Cost of sales |  | (4625746) | (683327) |
| Gross profit |  | 1724812 | 238203 |
| Other income |  | 30 | 1 |
| Administrative expenses |  | (202407) | (133535) |
| Net gain/(loss) on impairment of financial instruments |  | 4361 | (8404) |
| Finance costs | 17 | (2890) | (1013) |
| Profit before tax | 18 | 1523906 | 95252 |
| Income tax expenses | 19 | (5714) | (5639) |
| Profit for the financial year |  | 1518192 | 89613 |
| **Other comprehensive income** |  |  |  |
| ***Items that are or may be reclassified subsequently to profit or loss*** |  |  |  |
| Exchange translation differences |  | (12124) | 7481 |
| Total comprehensive income for the financial year |  | 1506068 | 97094 |
| **Earnings per share** | 21 |  |  |
| Basic earnings per share (sen) |  | 0.06 | 0.00 |
| Diluted earnings per share (sen) |  | 0.06 | 0.00 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF CHANGES IN EQUITY**

**FOR THE FINANCIAL YEARS ENDED 31 AUGUST 2025**

**AND 31 AUGUST 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Distributable** | |
|  |  | **Class A <br>Ordinary Shares** | **Class A <br>Ordinary Shares** | **Class B <br>Ordinary Shares** | **Class B <br>Ordinary Shares** | | | | |
|  |  | **Number**<br>**of shares** |<br>**Amount** | **Number**<br>**of shares** |<br>**Amount** |<br>**Merger**<br>**reserve** | **Foreign <br>Exchange**<br>**Translation**<br>**Reserve** |<br>**Retained**<br>**Earnings** |<br>**Total**<br>**Equity** |
|  | **Note** | | **USD** | | **USD** | **USD** | **USD** | **USD** | **USD** |
| At 1 September 2023 |  | 23000000 | 2300 | 2000000 | 200 | 2192 |  | (2048) | 2644 |
| Profit for the financial year |  |  |  |  |  |  |  | 89613 | 89613 |
| Other comprehensive income for the financial year |  | - | - | - | - | - | 7481 | - | 7481 |
| Total comprehensive income for the financial year |  |  |  |  |  |  | 7481 | 89613 | 97094 |
| At 31 August 2024 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | 7481 | 87565 | 99738 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF CHANGES IN EQUITY**

**FOR THE FINANCIAL YEARS ENDED 31 AUGUST 2025**

**AND 31 AUGUST 2024 (CONT'D)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Distributable** | |
|  |  | **Class A<br> Ordinary Shares** | **Class A<br> Ordinary Shares** | **Class B<br> Ordinary Shares** | **Class B<br> Ordinary Shares** | | | | |
|  |  | **Number**<br>**of shares** |<br>**Amount** | **Number**<br>**of shares** |<br>**Amount** |<br>**Merger**<br>**reserve** | **Foreign<br> Exchange**<br>**Translation**<br>**Reserve** |<br>**Retained**<br>**Earnings** |<br>**Total**<br>**Equity** |
|  | **Note** | | **USD** | | **USD** | **USD** | **USD** | **USD** | **USD** |
| At 1 September 2024 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | 7481 | 87565 | 99738 |
| Profit for the financial year |  |  |  |  |  |  |  | 1518192 | 1518192 |
| Other comprehensive loss for the financial year |  | - | - | - | - | - | (12124) | - | (12124) |
| Total comprehensive income for the financial year |  |  |  |  |  |  | (12124) | 1518192 | 1506068 |
| **Transaction with owners:** |  |  |  |  |  |  |  |  |  |
| Dividend paid | 20 |  |  |  |  |  |  | (888593) | (888593) |
| At 31 August 2025 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | (4643) | 717164 | 717213 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE FINANCIAL YEARS ENDED 31 AUGUST 2025**

**AND 31 AUGUST 2024**

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  | **USD** | **USD** |
| **Operating Activities** |  |  |
| Profit before tax | 1523906 | 95252 |
| Adjustments for: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation of: |  |  |
| &nbsp;&nbsp;&nbsp;- plant and equipment | 1217 |  |
| &nbsp;&nbsp;&nbsp;- Right-of-use assets | 20836 | 8058 |
| &nbsp;&nbsp;&nbsp;Finance costs | 2890 | 1013 |
| &nbsp;&nbsp;&nbsp;Impairment losses on: |  |  |
| &nbsp;&nbsp;&nbsp;- Trade receivables |  | 8404 |
| &nbsp;&nbsp;&nbsp;Interest income | (30) | (1) |
| &nbsp;&nbsp;&nbsp;Reversal of impairment loss on trade receivable | (4361) | - |
| Operating profit before working capital changes | 1544458 | 112726 |
| Changes in working capital: |  |  |
| &nbsp;&nbsp;&nbsp;Trade receivables | 289969 | (854267) |
| &nbsp;&nbsp;&nbsp;Other receivables | (494) | (6348) |
| &nbsp;&nbsp;&nbsp;Trade payables | (386011) | 568253 |
| &nbsp;&nbsp;&nbsp;Other payables | (144889) | 155347 |
|  | (241425) | (137015) |
| Cash generated from/(used in) operations | 1303033 | (24289) |
| Interest received | 30 | 1 |
| Tax paid | (5483) | - |
| Net cash from/(used in) operating activities | 1297580 | (24288) |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE FINANCIAL YEARS ENDED 31 AUGUST 2025**

**AND 31 AUGUST 2024 (CONT'D)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **2025** | **2024** |
|  |  | **USD** | **USD** |
| **Investing Activity** |  |  |  |
| Purchase of plant and equipment | 4 | (11858) | - |
| Net cash used in investing activity |  | (11858) | - |
| **Financing Activities** |  |  |  |
| Drawdown of term loans |  | 75087 |  |
| Dividends paid |  | (888593) |  |
| Interest paid |  | (2890) | (1013) |
| Net changes in amount due to Directors |  | 52568 | 33178 |
| Payment of lease liabilities |  | (20707) | (7630) |
| Repayment of term loans |  | (8056) | - |
| Net cash (used in)/generated from financing activities |  | (792591) | 24535 |
| **Net increase in cash and cash equivalents** |  | 493131 | 247 |
| **Effects of exchange translation differences on cash and cash equivalents** |  | (18208) | 27 |
| **Cash and cash equivalents at the beginning of the financial year** |  | 357 | 83 |
| **Cash and cash equivalents at the end of the financial year** |  | 475280 | 357 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE FINANCIAL YEARS ENDED 31 AUGUST 2025**

**AND 31 AUGUST 2024 (CONT'D)**

**<u>Cash flows for leases as a lessee</u>**

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  | **USD** | **USD** |
| **Including in Operating Activities** |  |  |
| Interest paid in relation to lease liability (Note 17) | 1642 | 1013 |
| Payment relating to short-term leases (Note 18) | 932 | 179 |
| **Including in Financing Activities** |  |  |
| Payment of lease liabilities | 20707 | 7630 |
| Total cash outflows for leases | 23281 | 8822 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED**

(Incorporated in Cayman Islands)

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**31 AUGUST 2025 AND 31 AUGUST 2024**

1. **General Information** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Introduction

This report has been prepared solely for the inclusion in the prospectus of 3Knights Dynamics Group Limited ("3Knights Group" or "the Company") in connection with the initial public offering of 3Knights Group's ordinary shares, par value USD0.0001 ("Ordinary Shares") on the Nasdaq Capital Market (hereinafter defined as "Initial Public Offering") and should not be relied upon for any other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Background

The Company was incorporated in the Cayman Islands on October 8, 2025 as an exempted company with limited liability under the Companies Act (As Revised) of the Cayman Islands. The registered office of the Company is located at the office of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. The authorized share capital of the Company is US$50,000 divided into 450,000,000 Class A Ordinary Shares with a par value of US$0.0001 each and 50,000,000 Class B Ordinary Shares with a par value of US$0.0001 each, all of which are fully paid

The principal place of business of the Company is situated at No. 19-2, The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. Principal
 activities

The principal activity of the Company is investment holding. The details of the subsidiary of the Company are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Effective interest (%)** | **Effective interest (%)** | |
| **Name of**<br>**company** | **Country of** <br>**incorporation** | **2025** | **2024** | <br>**Principal activities** |
| **Direct holding:** |  |  |  |  |
| 3Knights<br> Dynamics Sdn.<br> Bhd. ("3Knights<br> Dynamics") | Malaysia | 100 | 100 | Provide information<br> communication<br> technology (ICT)<br> services. |

---

There have been no significant changes in the nature of the principal activities of the Company and its subsidiary.

1. **General Information (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. Shareholdings
 reorganization

In preparation for the proposed Initial Public Offering, the Company has undertaken a reorganization of its corporate structure in the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company was incorporated in the Cayman Islands on October 8, 2025, and one (1) ordinary share
 was issued to its initial subscriber for total consideration of USD0.0001.

(b) On
 October 10, 2025, the initial subscriber transferred the 1 initial share to WLG
 Holdings Sdn. Bhd. which is owned 50% by Mr. Chu Hoon Weng and 50% by Mr. Lim Seow Leong
 and on the same day, the Company issued an aggregate of 1,499 Class A Ordinary Shares
 and 2,000,000 Class B Ordinary Shares to WLG Holdings Sdn. Bhd.,
 for a consideration of USD0.0001 per share.

(c) On
 December 19, 2025, the Company, WLG Holdings Sdn. Bhd., Mr. Chu Hoon Weng and
 Mr. Lim Seow Leong, the shareholders of 3Knights Dynamics, entered into a Share Swap Agreement,
 pursuant to which the Company acquire all 20,000 issued and fully paid ordinary shares of
 3Knights Dynamics in exchange for newly issuance of 22,998,500 Class A Ordinary Shares of
 the Company to WLG Holdings Sdn. Bhd., all of which were credited
 as fully paid.

As a result, 3Knights Dynamics became wholly owned subsidiary of 3Knights Group and Mr. Chu Hoon Weng and Mr. Lim Seow Leong became the ultimate shareholders of 3Knights Group by indirectly holding its 23,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares via WLG Holdings Sdn. Bhd. in the same proportion as their previous interests in 3Knights Dynamics.

The reorganization is accounted for as a business combination under common control, as the Company and its subsidiary were under the control of the same ultimate shareholders both before and after the reorganization.

1. **General Information (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. Shareholdings
 reorganization (Cont'd)

The reorganization has been accounted for using the pooling-of-interest (predecessor) method, consistent with the principles of IFRS 3 Business Combinations and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Under this method, the assets and liabilities of the combining entities are recognized at their existing carrying amounts from the perspective of the controlling shareholders and no goodwill or gain on bargain purchase is recognized. The difference between the consideration transferred and the share capital acquired was recorded as the merger reserve in equity. The consolidated financial statements are presented as if the current structure had existed since the beginning of the earliest period presented.

Accordingly, the results of 3Knights Dynamics have been included in the consolidated financial statements as if the Group had operated as a single economic entity throughout the financial years ended August 31, 2025 and August 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. Acquisition of a subsidiary ("Acquisition")

The acquisition of 3Knights Dynamics was completed on February 14, 2026 as disclosed in Note 1.4. Following the completion of the Acquisition, the group structure of 3Knights Group is as follows:

![](formdrsa_003.jpg)

The Group is regarded as a continuing entity resulting from the Acquisition as the management of 3Knights Group was controlled by the Directors and remained under the same major shareholders before and immediately after the Acquisition. Consequently, immediately after the Acquisition, there was continuity in control over the entity's financial and operating policy decisions, as well as risks and benefits to the ultimate shareholders that existed prior to the Acquisition. The Acquisition has been accounted for as a common control transaction.

**2.** **Basis of Preparation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Statement
 of compliance

The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards ("IFRS") accounting standards.

The consolidated financial statements of the Group have been prepared under the historical cost convention, unless otherwise indicated in the material accounting policies below.

**Adoption of new and amended standards**

During the financial year, the Group has adopted the following amendments to standards issued by the International Accounting Standards Board ("IASB") that are mandatory for current financial year:

---

| | |
|:---|:---|
| Amendments to IFRS 16 | Lease Liability in a Sales and Leaseback |
| Amendments to IAS 1 | Classification of Liabilities as Current or <br> Non-current |
| Amendments to IAS 1 | Non-current Liabilities with Covenants |
| Amendments to IAS 7 and IFRS 7 | Supplier Finance Arrangements |
| Amendments to IAS 21 | Lack of Exchangeability |

---

The adoption of the amendments to standards did not have any significant impact on the consolidated financial statements of the Group.

2. **Basis of Preparation (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Statement
 of compliance (Cont'd)

**Standards issued but not yet effective**

The Group has not applied the following new standards and amendments to standards that have been issued by the IASB but are not yet effective for the Group:

---

| | | | |
|:---|:---|:---|:---|
| | |  | Effective dates for financial periods beginning on or after |
| Amendments to IFRS 9 and IFRS 7 | Amendments to IFRS 9 and IFRS 7 | Amendments to Classification and Measurement of Financial Instruments | 1 January 2026 |
| Amendments to IFRS 9 and IFRS 7 | Amendments to IFRS 9 and IFRS 7 | Contracts Referencing Nature-dependent Electricity | 1 January 2026 |
| Annual Improvements to IFRS Accounting Standards - Volume 11 | Annual Improvements to IFRS Accounting Standards - Volume 11 | 1 January 2026 |  |
| ● | Amendments to IFRS 1 |  |  |
| ● | Amendments to IFRS 7 |  |  |
| ● | Amendments to IFRS 9 |  |  |
| ● | Amendments to IFRS 10 |  |  |
| ● | Amendments to IAS 7 |  |  |
| Amendments to IFRS 18 | Amendments to IFRS 18 | Presentation and Disclosure in Financial Statements | 1 January 2027 |
| Amendments to IFRS 19 | Amendments to IFRS 19 | Subsidiaries without Public Accountability: Disclosures | 1 January 2027 |
| Amendments to IFRS 10 and IAS 28 | Amendments to IFRS 10 and IAS 28 | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture | Deferred until further notice |

---

The Group intends to adopt the above new standards and amendments to standards, if applicable, when they become effective.

The initial application of the above-mentioned new standards and amendments to standards are not expected to have any significant impacts on the consolidated financial statements of the Group except as disclosed below:

<u>IFRS 18 *Presentation and Disclosure in Financial Statements*</u>

IFRS 18 will replace IAS 1 *Presentation of Financial Statements*. It preserves the majority requirements of IAS 1 while introducing additional requirements. In addition, narrow-scope amendments have been made to IAS 7 *Statement of Cash Flows* and some requirements of IAS 1 have been moved to IAS 8 *Basis of Preparation of Financial Statements*.

2. **Basis of Preparation (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Statement
 of compliance (Cont'd)

**Standards issued but not yet effective (Cont'd)**

The initial application of the above-mentioned new standards and amendments to standards are not expected to have any significant impacts on the consolidated financial statements of the Group except as disclosed below: (Cont'd)

<u>IFRS 18 *Presentation and Disclosure in Financial Statements*</u> *(Cont'd)*

IFRS 18 additional requirements are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Statement
 of Profit or Loss and Other Comprehensive Income

IFRS 18 introduces newly defined "operating profit or loss" and "profit or loss before financing and income tax" subtotal which are to be presented in the statement of profit or loss, while the net profit or loss remains unchanged. Statement of profit or loss to be presented in five categories: operating, investing, financing, income taxes and discontinued operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Statement
 of Cash Flows

The standard modifies the starting point for calculating cash flows from operations using the indirect method, shifting from "profit or loss" to "operating profit or loss". It also provides guidance on classification of interest and dividend in statement of cash flows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) New
 disclosures of expenses by nature

Entities are required to present expenses in the operating category by nature, function or a mix of both. IFRS 18 includes guidance for entities to assess and determine which approach is most appropriate based on the facts and circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Management-defined
 Performance Measures (MPMs)

The standard requires disclosure of explanations of the entity's company-specific measures that are related to the statement of profit or loss, referred to MPMs. MPMs are required to be reconciled to the most similar specified subtotal in IFRS Accounting Standards.

2. **Basis of Preparation (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Statement
 of compliance (Cont'd)

**Standards issued but not yet effective (Cont'd)**

The initial application of the above-mentioned new standards and amendments to standards are not expected to have any significant impacts on the consolidated financial statements of the Group except as disclosed below: (Cont'd)

<u>IFRS 18 *Presentation and Disclosure in Financial Statements*</u> (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Enhanced
 Guidance on Aggregation and Disaggregation

IFRS 18 provides enhanced guidance on grouping items based on shared characteristics and requires disaggregation when items have dissimilar characteristics or when such disaggregation is material.

The potential impact of the new standard on the consolidated financial statements of the Group have yet to be assessed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Functional
 and presentation currency

The consolidated financial statements of the Group are measured using the currency of the primary economic environment in which the Group operates ("the functional currency"). The consolidated financial statements are presented in United States Dollar ("USD") but the Group's functional currency is Ringgit Malaysia ("RM").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Significant
 accounting judgements, estimates and assumptions

The preparation of the Group's consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future.

**Judgements**

There are no significant areas of judgement in applying accounting policies that have significant effect on the amount recognized in the consolidated financial statements.

2. **Basis of Preparation (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Significant
 accounting judgements, estimates and assumptions (Cont'd)

**Key sources of estimation uncertainty**

The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period are set out below:

<u>Depreciation and useful lives of property, plant and equipment and right-of-use ("ROU") assets</u>

The Group reviews the residual values, useful lives and depreciation methods at the end of each reporting period. Judgements are applied in the selection of the depreciation method, the useful lives and the residual values. The actual consumption of the economic benefits of the property, plant and equipment and ROU assets may differ from the estimates applied and therefore, future depreciation charges could be revised. The carrying amount of the Group's property, plant and equipment and ROU assets are disclosed in Notes 4 and 5 respectively.

<u>Deferred tax assets</u>

Deferred tax assets are recognized for all unused tax losses, unutilized capital allowances and other deductible temporary differences to the extent that it is probable that taxable profit will be available against which the unused tax losses, unutilized capital allowances and other deductible temporary differences can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and level of future taxable profits together with future tax planning strategies. The carrying amount of recognized and unrecognized deferred tax assets are disclosed in Note 6.

2. **Basis of Preparation (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Significant
 accounting judgements, estimates and assumptions (Cont'd)

**Key sources of estimation uncertainty (Cont'd)**

<u>Discount rate used in leases</u>

Where the interest rate implicit in the lease cannot be readily determined, the Group uses the incremental borrowing rate to measure the lease liabilities. The incremental borrowing rate is the interest rate that the Group would have to pay to borrow over a similar term, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. Therefore, the incremental borrowing rate requires estimation, particularly when no observable rates are available or when they need to be adjusted to reflect the terms and conditions of the lease. The Group estimates the incremental borrowing rate using observable inputs when available and is required to make certain entity-specific estimates.

<u>Provision for expected credit loss of financial assets at amortized cost</u>

The Group uses a provision matrix to calculate expected credit loss for trade receivables. The provision rates are based on number of days past due.

The provision matrix is initially based on the Group's historical observed default rates. The Group will calibrate the matrix to adjust the historical credit loss experience. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed.

The assessment of the correlation between historical observed default rates, forecast economic conditions and expected credit loss is a significant estimate. The Group's historical credit loss experience and forecast of economic conditions may not be representative of customer's actual default in the future. Information about the expected credit loss are disclosed in Note 7.

<u>Revenue</u>

Significant judgement is required in determining whether revenue should be recognized over time and in selecting an appropriate measure of progress towards satisfaction of performance obligations.

Management has determined that revenue is recognized over time, as performance obligations are satisfied progressively throughout the contract. Milestone completion is used as the measure of progress, with client acceptance testing serving as confirmation that the relevant milestone has been achieved. As the timing of milestone completion and acceptance may vary, revenue recognized may fluctuate between reporting periods.

There were no significant changes in judgements during the financial year.

<u>Income taxes</u>

Judgement is involved in determining the provision for income taxes. There are certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business.

The Group recognizes liabilities for tax based on estimates of whether additional taxes will be due. Where the final tax outcome of these tax matters is different from the amounts that were initially recognized, such differences will impact the income tax and/or deferred tax provisions in the period in which such determination is made.

3. **Material Accounting Policies** 

The Group applies the material accounting policies set out below, consistently throughout all periods presented in the financial statements unless otherwise stated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Foreign
 currency transactions and balances

Transactions in foreign currency are recorded in the functional currency of the respective Group entities using the exchange rates prevailing at the dates of the transactions. At each reporting date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences arising on the settlement of monetary items or on translating monetary items at the reporting date are included in profit or loss.

Exchange differences arising on the translation of non-monetary items carried at fair value are included in profit or loss for the reporting period except for the differences arising on the translation of non-monetary items in respect of which gains and losses are recognized in other comprehensive income. Exchange differences arising from such non-monetary items are also recognized in other comprehensive income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Basis
 of consolidation – Business combination

A business combination involving entities under common control is a business combination in which all the combining entities or business are ultimately controlled by the same party or parties both before and after the business combination, and that control is not transitory. The acquisition of the combining entities resulted in a business involving common control since the management of all the entities which took part in the acquisition were controlled by common Directors and under common shareholders before and immediately after the acquisition, and accordingly the accounting treatment is outside the scope of IFRS 3.

Under the merger method of accounting, the results of subsidiaries are presented as if the merger had been effected throughout the current and previous years. The assets and liabilities combined are accounted for based on the carrying amounts from the perspective of the common control shareholder at the date of transfer. On consolidation, the cost of the merger is cancelled with the values of the shares received. Any resulting credit differences is classified as equity and regarded as a non-distributable reserve. Any resulting debit difference is adjusted against any suitable reserve. Any reserves which are attributable to share capital of the merged entities, to the extent that they have not been capitalized by a debit difference, are reclassified and presented as movement in merger deficit.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Property, plant and equipment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Recognition
 and measurement

All items of property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Depreciation

Depreciation is recognized in the profit or loss on straight-line basis to write off the cost of each asset to its residual value over its estimated useful life. Freehold land is not depreciated.

Property, plant and equipment are depreciated based on the estimated useful lives of the assets as follows:

---

| | |
|:---|:---|
| Computer and software | 20% |
| Office equipment | 20% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Leases

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As
 lessee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Right-of-use
 ("ROU") assets

ROU assets are initially measured at cost. Subsequent to the initial recognition, the ROU assets are stated at cost less accumulated depreciation and any accumulated impairment losses, and adjusted for any remeasurement of lease liabilities.

The ROU assets are depreciated using the straight-line method from the commencement date to the earlier of the end of the estimated useful lives of the ROU assets or the end of the lease term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Lease
 liabilities

Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate as the discount rate.

Subsequent to the initial recognition, the lease liabilities are measured at amortized cost and adjusted for any lease reassessment or modifications.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Leases
 (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As
 lessee (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Short-term
 leases and leases of low-value assets

The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases and leases of low value assets. The Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) As
 lessor

When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases.

If the lease arrangement contains lease and non-lease components, the Group applies IFRS 15 *Revenue from Contracts with Customers* to allocate the consideration in the contract based on the stand-alone selling price.

The Group recognizes lease payments under operating leases as income on a straight-line basis over the lease term unless another systematic basis is more representative of the pattern in which benefit from the use of the underlying asset is diminished. The lease payment recognized is included as part of "Other income". Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned.

**3.** **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Financial assets

<u>Recognition and initial measurement</u>

Financial assets are recognized on the consolidated statement of financial position when, and only when, the Group becomes a party to the contractual provisions of the financial instrument.

At initial recognition, the Group measures a financial asset at its fair value plus, for an item not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition or issuance of the financial instruments. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.

<u>Financial asset categories and subsequent measurement</u>

For the purpose of subsequent measurement, the Group classifies its financial assets as financial assets at amortized cost.

The classification depends on the entity's business model for managing the financial assets and the contractual cash flows characteristics of the financial assets.

Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.

*Financial assets at amortized cost*

Financial assets that are held for collection of contractual cash flows and those cash flows represent solely payments of principal and interest are measured at amortized cost. Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment. Interest income, foreign exchange gains or losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.

**3.** **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Financial liabilities

<u>Recognition and initial measurement</u>

Financial liabilities are recognized in the consolidated statement of financial position when, and only when, the Group becomes a party to the contractual provisions of the financial instrument.

At initial recognition, the Group measures a financial liability at its fair value less, for an item not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition or issuance of the financial instruments.

<u>Financial liability categories and subsequent measurement</u>

For the purpose of subsequent measurement, the Group classifies its financial liabilities as financial liabilities at amortized cost.

*Financial liabilities at amortized cost*

Financial liabilities not categorized as fair value through profit or loss are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in the profit or loss. Any gains or losses on derecognition are also recognized in the profit or loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Cash and cash equivalents

Cash and cash equivalents comprise cash and bank balances, demand deposits, bank overdrafts and short-term highly liquid investments that are readily convertible to known amount of cash and which are subject to an insignificant risk of changes in value. For the purpose of consolidated statement of cash flows, cash and cash equivalents are presented net of bank overdrafts and pledged deposits, if any.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Impairment of assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Non-financial
 assets

The carrying amounts of non-financial assets (except for inventories) are reviewed at the end of each reporting period to determine whether there is any indication of impairment. If any such indication exists, the asset's recoverable amount is estimated.

For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash-generating units.

The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or cash-generating unit.

An impairment loss is recognized if the carrying amount of an asset or cash-generating unit exceeds its estimated recoverable amount. Impairment loss is recognized in profit or loss.

Impairment losses recognized in prior periods are assessed at the end of each reporting period for any indications that the loss has decreased or no longer exists. An impairment loss is reversed only if there has been a change in the estimates used to determine the recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for asset in prior years. Such reversal is recognized in the profit or loss.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Impairment
 of assets (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Financial
 assets

The Group recognizes an allowance for expected credit losses ("ECLs") for all debt instruments not held at FVTPL. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months ("a 12 months ECL"). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default ("a lifetime ECL").

For trade and other receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience and the economic environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Share capital

Ordinary shares are equity instruments. Ordinary shares are recorded at the proceeds received, net of directly attributable incremental transaction costs. Ordinary shares are classified as equity.

Dividend distribution to the Group's shareholder is recognized as a liability in the period they are approved by the Board of Directors except for the final dividend which is subject to approval by the Group's shareholder.

**3.** **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Employee benefits

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Short-term
 employee benefits

Wages, salaries, bonuses and social security contributions are recognized as an expense in the reporting period in which the associated services are rendered by employees of the Group. Short-term accumulating compensated absences such as paid annual leave are recognized when services are rendered by employees that increase their entitlement to future compensated absences. Short-term non-accumulating compensated absences such as sick and medical leave are recognized when the absences occur.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Defined
 contribution plans

As required by law, companies in Malaysia contribute to the state pension scheme, the Employee Provident Fund ("EPF"). Such contributions are recognized as an expense in the profit or loss as incurred. Once the contributions have been paid, the Group has no further payment obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Revenue and other income

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Revenue
 from contracts with customers

Revenue is recognized when the Group satisfied a performance obligation ("PO") by transferring a promised good or services to the customer, which is when the customer obtains control of the good or service. A PO may be satisfied at a point in time or over time. The amount of revenue recognized is the amount allocated to the satisfied PO.

<u>Services</u>

Revenue in respect of the rendering of services is recognized when the stage of completion at the end of each reporting period and the cost incurred can be reliably measured. The stage of completion is determined by completion of physical proportion of the services transaction.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Revenue
 and other income (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Interest
 income

Interest income is recognized on accruals basis using the effective interest method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Borrowing costs

All borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss in the period in which they are incurred. Borrowing costs consist of interest and other costs that the Group incurred in connection with the borrowing of funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Income taxes

Tax expense in profit or loss comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the financial year, using tax rates enacted or substantively enacted by the end of the reporting period, and any adjustment to tax payable in respect of previous financial years.

Deferred tax is recognized using the liability method for all temporary differences between the carrying amounts of assets and liabilities in the consolidated statement of financial position and their tax bases. Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the end of the reporting period.

3. **Material Accounting Policies (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Income
 taxes (Cont'd)

The measurement of deferred tax is based on the expected manner of realization or settlement of the carrying amount of the assets and liabilities, at the end of the reporting period. Deferred tax assets and liabilities are not discounted.

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.

A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at the end of each reporting period and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Fair value measurement

Fair value of an asset or a liability is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The measurement assumes that the transaction to sell the asset or transfer of the liability takes place either in the principal market or in the absence of a principal market, in the most advantageous market.

For non-financial asset, the fair value measurement takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

When measuring the fair value of an asset or a liability, the Group uses observable market data as far as possible. Fair value is categorized into different levels in a fair value hierarchy based on the input used in the valuation technique as follows:

---

| | |
|:---|:---|
| Level 1 | quoted prices (unadjusted) in active markets for identical assets or liabilities that the Group can access at the measurement date.<br>|
| Level 2 | inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.<br>|
| Level 3 | unobservable inputs for the asset or liability. |

---

The Group recognizes transfers between levels of the fair value hierarchy as of the date of the event or change in circumstances that caused the transfers.

4. **Property, Plant and Equipment** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Computer**<br>**and**<br>**software**<br>**USD** |<br>**Office**<br>**equipment**<br>**USD** |<br>**Total**<br>**USD** |
| **2025** |  |  |  |
| **Cost** |  |  |  |
| At September 1, 2024 |  |  |  |
| Additions | 11732 | 126 | 11858 |
| Disposals |  |  |  |
| Translation differences | 339 | 4 | 343 |
| At August 31, 2025 | 12071 | 130 | 12201 |
| **Accumulated depreciation** |  |  |  |
| At September 1, 2024 |  |  |  |
| Charge for the financial year | 1196 | 21 | 1217 |
| Disposals |  |  |  |
| Translation differences | 35 | 1 | 36 |
| At August 31, 2025 | 1231 | 22 | 1253 |
| **Carrying amount** |  |  |  |
| At August 31, 2025 | 10840 | 108 | 10948 |
| At August 31, 2024 | - | - | - |

---

5. **Right-of-use Assets** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Lease of buildings** |  |  |
| **Cost** |  |  |
| At September 1 | 41973 |  |
| Additions |  | 41973 |
| Translation differences | 904 | - |
| At August 31 | 42877 | 41973 |
| **Accumulated depreciation** |  |  |
| At September 1 | 8744 |  |
| Charge for the financial year | 20836 | 8058 |
| Translation differences | 791 | 686 |
| At August 31 | 30371 | 8744 |
| **Carrying amount** |  |  |
| At August 31 | 12506 | 33229 |

---

The aggregate additional costs for the right-of-use assets of the Group during the financial year acquired under lease financing and cash payments are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Aggregate costs |  | 41973 |
| Less: Lease financing |  | (41973) |
| Cash payments |  | - |

---

6. **Deferred Tax Assets** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| At September 1 | (2300) |  |
| Recognized in profit or loss (Note 19) | 1862 | (2120) |
| Translation differences | 4 | (180) |
| At August 31 | (434) | (2300) |

---

The components and movements of the deferred tax liabilities and assets of the Group are as follows:

<u>Deferred tax liabilities</u>

---

| | | | |
|:---|:---|:---|:---|
|  | **Accelerated**<br>**capital**<br>**allowances**<br>**USD** |<br>**Right-of-use**<br>**assets**<br>**USD** |<br>**Total**<br>**USD** |
| At September 1, 2024 |  | 7975 | 7975 |
| Recognized in profit or loss | 846 | (5001) | (4155) |
| Translation differences | 25 | 27 | 52 |
| At August 31, 2025 (before offsetting) | 871 | 3001 | 3872 |
| Offsetting |  |  | (3872) |
| At August 31, 2025 (after offsetting) |  |  | - |
| At September 1, 2023 |  |  |  |
| Recognized in profit or loss |  | 7349 | 7349 |
| Translation differences | - | 626 | 626 |
| At August 31, 2024 (before offsetting) | - | 7975 | 7975 |
| Offsetting |  |  | (7975) |
| At August 31, 2024 (after offsetting) |  |  | - |

---

6. **Deferred Tax Assets (Cont'd)** 

The components and movements of the deferred tax liabilities and assets of the Group are as follows: (Cont'd)

<u>Deferred tax assets</u>

---

| | | | |
|:---|:---|:---|:---|
|  | **Lease**<br>**liabilities**<br>**USD** |<br>**Provisions**<br>**USD** |<br>**Total**<br>**USD** |
| At September 1, 2024 | (8086) | (2189) | (10275) |
| Recognized in profit or loss | 4970 | 1047 | 6017 |
| Translation differences | (31) | (17) | (48) |
| At August 31, 2025 (before offsetting) | (3147) | (1159) | (4306) |
| Offsetting |  |  | 3872 |
| At August 31, 2025 (after offsetting) |  |  | (434) |
| At September 1, 2023 |  |  |  |
| Recognized in profit or loss | (7451) | (2018) | (9469) |
| Translation differences | (635) | (171) | (806) |
| At August 31, 2024 (before offsetting) | (8086) | (2189) | (10275) |
| Offsetting |  |  | 7975 |
| At August 31, 2024 (after offsetting) |  |  | (2300) |

---

7. **Trade Receivables** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Trade receivables | 648685 | 927066 |
|  | 648685 | 927066 |
| Less: Accumulated impairment losses | (4830) | (9120) |
|  | 643855 | 917946 |

---

Trade receivables are non-interest bearing and are generally on 30 to 60 days (2024: 30 to 60 days) terms. They are recognized at their original invoice amounts which represent their fair values on initial recognition.

7. **Trade Receivables (Cont'd)** 

Movements in the allowance for impairment losses on trade receivables are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Lifetime**<br>**allowance**<br>**USD** | **Credit**<br>**impaired**<br>**USD** | **Loss**<br>**allowance**<br>**USD** |
| **2025** |  |  |  |
| At September 1, 2024 | 9120 |  | 9120 |
| Reversal of impairment losses | (4361) |  | (4361) |
| Translation differences | 71 |  | 71 |
| At August 31, 2025 | 4830 |  | 4830 |
| **2024** |  |  |  |
| At September 1, 2023 |  |  |  |
| Impairment losses recognized | 8404 |  | 8404 |
| Translation differences | 716 |  | 716 |
| At August 31, 2024 | 9120 |  | 9120 |

---

The loss allowance account in respect of trade receivables is used to record loss allowances. Unless the Group is satisfied that recovery of the amount is possible, the amount considered irrecoverable is written off against the receivable directly.

The ageing analysis of trade receivables at the end of the reporting period are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Gross**<br>**amount**<br>**USD** | **Loss**<br>**allowance**<br>**USD** | **Net**<br>**amount**<br>**USD** |
| **2025** |  |  |  |
| Not past due | 378698 |  | 378698 |
| Past due |  |  |  |
| &nbsp;&nbsp;&nbsp;Less than 30 days | 142012 | (1579) | 140433 |
| &nbsp;&nbsp;&nbsp;31 to 60 days | 119320 | (1329) | 117991 |
| &nbsp;&nbsp;&nbsp;61 to 90 days | 3124 | (35) | 3089 |
| &nbsp;&nbsp;&nbsp;More than 90 days | 5531 | (1887) | 3644 |
|  | 269987 | (4830) | 265157 |
| **Credit impaired** |  |  |  |
| Individually impaired | - | - | - |
|  | 648685 | (4830) | 643855 |

---

7. **Trade Receivables (Cont'd)** 

The ageing analysis of trade receivables at the end of the reporting period are as follows: (Cont'd)

---

| | | | |
|:---|:---|:---|:---|
|  | **Gross**<br>**amount**<br>**USD** | **Loss**<br>**allowance**<br>**USD** | **Net**<br>**amount**<br>**USD** |
| **2024** |  |  |  |
| Not past due | 105422 |  | 105422 |
| Past due |  |  |  |
| &nbsp;&nbsp;&nbsp;Less than 30 days | 278317 | (3089) | 275228 |
| &nbsp;&nbsp;&nbsp;31 to 60 days | 326691 | (3626) | 323065 |
| &nbsp;&nbsp;&nbsp;61 to 90 days | 89203 | (990) | 88213 |
| &nbsp;&nbsp;&nbsp;More than 90 days | 127433 | (1415) | 126018 |
|  | 821644 | (9120) | 812524 |
| **Credit impaired** |  |  |  |
| Individually impaired | - | - | - |
|  | 927066 | (9120) | 917946 |

---

Trade receivables that are not past due nor individually impaired are creditworthy debtors with good payment records with the Group.

As at August 31, 2025, gross trade receivables of USD269,987 (2024: USD821,644) were past due but not individually impaired. These relate to a number of independent customers from whom there is no recent history of default.

No trade receivables of the Group that are individually assessed to be impaired.

**8.** **Other Receivables** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| Other receivables |  |  |  | 323 |
| Deposits | | 7,545 | | 6,565 |
|  | | 7,545 | | 6,888 |

---

9. **Share Capital and Merger Reserve** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Share
 capital

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of shares** | **Number of shares** | **Amount** | **Amount** |
|  | **2025**<br>**Units** | **2024**<br>**Units** | **2025**<br>**USD** | **2024**<br>**USD** |
| **Issued and fully paid ordinary shares with no par value** |  |  |  |  |
| At September 1/ At August 31 | 25000000 | 25000000 | 2500 | 2500 |

---

For the purpose of undertaking a public offering of the Company's Class A Ordinary Shares, the Company completed a series of reorganization transactions resulting in 23,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares being issued and outstanding, which have been retroactively restated to the beginning of the earliest period presented.

The authorized share capital of the Company is US$50,000 divided into 450,000,000 Class A Ordinary Shares with a par value of USD0.0001 each and 50,000,000 Class B Ordinary Shares with a par value of USD0.0001 each. All the issued and outstanding Class A Ordinary Shares and Class B Ordinary Shares are fully paid.

Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for voting and conversion rights. Holders of Class A Ordinary Shares and Class B Ordinary Shares shall at all times vote together as one class on all resolutions submitted to a vote by the shareholders. Each Class A Ordinary Share is entitled to one vote on all matters subject to vote at general meetings of our Company, and each Class B Ordinary Share is entitled to 20 votes on all matters subject to vote at general meetings of our Company. Each Class B Ordinary Share is convertible into one fully paid Class A Ordinary Share at any time after the date of issuance of such share at the option of the holder thereof. In no event shall Class A Ordinary Shares be convertible into Class B Ordinary Shares.

On October 10, 2025, the Company issued an aggregate of 1,499 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares to an existing shareholder of the Company.

On December 3, 2025, the Company issued a total of 22,998,500 Class A Ordinary Shares to the existing shareholder of the Company to perfect the Company's capital structure in anticipation of the expected initial public offering of its Class A Ordinary Shares, and the concurrent listing of its Class A Ordinary Shares on the Nasdaq Stock Market LLC. The Company has accounted for these issuances of Class A Ordinary Shares as a stock dividend; accordingly, the Company has retroactively restated the presentation of its historical capital structure to the earliest period presented.

9. **Share Capital and Merger Reserve (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Merger
 reserve

The merger reserve arose from the reorganization of the Group accounted for as a business combination under common control, which was measured using the predecessor value method. The difference between the consideration transferred and the share capital acquired is recorded as merger reserve in equity and that has been retroactively restated to the beginning of the earliest period presented to reflect the Group's capital structure as if the reorganization had occurred at that date. Refer to the sequence of events as described in Note 1.4 "Shareholding reorganization".

10. **Foreign Currency Translation Reserve** 

The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of the Group as its functional currency is different from the presentation currency.

11. **Lease Liabilities** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| At September 1 | 33693 |  |
| Additions |  | 41973 |
| Accretion of interest | 1642 | 1013 |
| Payments | (22349) | (8643) |
| Translation differences | 127 | (650) |
| At August 31 | 13113 | 33693 |
| Presented as: |  |  |
| Non-current |  | 12837 |
| Current | 13113 | 20856 |
|  | 13113 | 33693 |

---

11. **Lease Liabilities (Cont'd)** 

The maturity analysis of lease liabilities of the Group at the end of the reporting period are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Minimum lease payments** |  |  |
| Within one year | 13413 | 22510 |
| Later than one year but not later than two years | - | 13131 |
|  | 13413 | 35641 |
| Less: Future finance charges | (300) | (1948) |
| Present value of lease liabilities | 13113 | 33693 |

---

The Group leases buildings. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

The weighted average incremental borrowing rate applied to lease liabilities of the Group at the reporting date is 6.82% (2024: 6.82%).

12. **Borrowings** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Secured** |  |  |
| Term loans | 68968 |  |
|  | 68968 |  |
| **Analyzed as:** |  |  |
| **Non-Current** |  |  |
| **Secured** |  |  |
| Term loans | 22420 |  |
| **Current** |  |  |
| **Secured** |  |  |
| Term loans | 46548 |  |
|  | 46548 |  |

---

Term loans obtained by the Group from non-bank financial institutions are secured by joint and several guarantees by the Directors of the Company.

12. **Borrowings (Cont'd)** 

Maturity of the borrowings of the Group are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| Within one year |  | 46548 |  |  |
| Between one year and two years | | 22,420 | | - |
|  | | 68,968 | | - |

---

The effective interest rates per annum of the borrowings of the Group at the reporting date are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
|  | **%** | **%** |
| Term loans | 12% - 12.30% |  |

---

13. **Trade Payables** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| Trade payables | | 232,794 | | 616,677 |

---

The normal trade credit terms granted to the Group range from 30 to 60 days (2024: 30 to 60 days) depending on the terms of the contracts.

14. **Other Payables** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| Accruals |  | 9923 |  | 2578 |
| Other payables | | 9,676 | | 162,542 |
|  | | 19,599 | | 165,120 |

---

15. **Amount Due to Directors** 

This represents unsecured, non-interest bearing advances and repayable on demand.

16. **Revenue** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| **Revenue from contracts with customers** |  |  |  |  |
| Service rendered | | 6,350,558 | | 921,530 |
| **Timing of revenue recognition** |  |  |  |  |
| Over time | | 6,350,558 | | 921,530 |

---

Revenue from service rendered which related to the information communication technology are recognized over time when service is rendered to the customer, the significant risks and rewards are transferred to the customer and the transaction has met the probability of inflows and measurement reliability requirements of IFRS 15.

---

| | | |
|:---|:---|:---|
| **Nature of services** | **Timing of recognition or method used to recognize revenue** | **Significant payment terms** |
| AI-related projects | Revenue is recognized over time as performance obligations are satisfied, generally based on milestone completion and client acceptance testing | Credit period of 30 days from invoice date |

---

The revenue from contracts with customers of the Group is not subject to variable element in the consideration, obligation for returns or refunds and warranty. Defect liability periods of 14 days are given to customers.

The Group does not incur incremental costs to obtain contracts that qualify for capitalization under IFRS 15. Any costs incurred to fulfil contracts are expensed as incurred as they do not generate resources that are expected to be recovered.

As at the end of the financial year, the Group did not have any contract assets or contract liabilities, as billing is generally aligned with milestone completion and client acceptance, and no significant advance payments or unbilled revenue existed at the reporting date.

17. **Finance Costs** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| **Interest expenses on:** |  |  |  |  |
| Lease liabilities |  | 1642 |  | 1013 |
| Term loans | | 1,248 | | - |
|  | | 2,890 | | 1,013 |

---

18. **Profit before Tax** 

Profit before tax is arrived at after charging/(crediting):

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Auditors' remuneration | 2185 | 534 |
| Depreciation of: |  |  |
| - Property, plant and equipment | 1217 |  |
| - Right-of-use assets | 20836 | 8058 |
| Impairment losses on: |  |  |
| - Trade receivables |  | 8404 |
| Leases expenses relating to short-term leases | 932 | 179 |
| Loss on realized foreign exchange | 109 |  |
| Interest income | (30) | (1) |
| Reversal of impairment loss on trade receivable | (4361) | - |

---

19. **Taxation** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Tax expenses recognized in profit or loss** |  |  |
| **Malaysian income tax** |  |  |
| Current tax provision | 3852 | 7759 |
|  | 3852 | 7759 |
| **Deferred tax (Note 6)** |  |  |
| Relating to origination and reversal of temporary differences | 1862 | (2120) |
|  | 1862 | (2120) |
|  | 5714 | 5639 |

---

Malaysian income tax is calculated at the statutory rate of 15% on the first RM150,000 chargeable income, 17% on the chargeable income from RM150,001 to RM600,000 and 24% on the balance of chargeable income (2024: 15% on the first RM150,000 chargeable income, 17% on the chargeable income from RM150,001 to RM600,000 and 24% on the balance of chargeable income) of the estimated assessable profits for the financial year.

19. **Taxation (Cont'd)** 

A reconciliation of income tax expenses applicable to the profit before tax at the statutory income tax rate to income tax expenses at the effective income tax rate of the Group are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Profit before tax | 1523906 | 95252 |
| At Malaysian statutory tax rate of 24% (2024: 24%) | 365737 | 22860 |
| Effect of income subject to tax rate of 15% and 17% (2024: 15% and 17%) | (2311) | (4100) |
| Income not subject to tax | (7) |  |
| Expenses not deductible for tax purposes | 52 |  |
| Income tax exemption | (357757) | (13121) |
| Tax expenses for the financial year | 5714 | 5639 |

---

During the financial year 2024, 3Knights Dynamics was granted MSC Malaysia status by Malaysian Investment Development Authority ("MIDA") vide approval letter. Pursuant to the Income Tax (Exemption) (No. 10) 2018 [P.U. (A) 389/2018] ("the Exemption Order"), the Minister of Finance has approved the commencement date of the income tax exemption incentive for the Company from April 2, 2024 to April 1, 2029 for a period of 5 years.

20. **Dividends** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
|  | **USD** | **USD** | **USD** | **USD** |
| **Dividends recognized as distribution to ordinary shareholder of the Company** |  |  |  |  |
| A single-tier interim dividend of RM200 per ordinary share in respect of the financial year ended August 31 | | 888,593 | | - |

---

21. **Earnings per Share** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic
 earnings per share

The basic earnings per share are calculated based on the profit for the financial year attributable to the owners of the Company and the weighted average number of ordinary shares in issue during the financial year as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** |  | **2024** |  |
| Profit attributable to the owners of the Company (USD) | 1518192 |  | 89613 |  |
| Weighted average number of ordinary shares in issue |  |  |  |  |
| &nbsp;&nbsp;&nbsp;- Ordinary shares in issue as at September 1 | 1 |  | 1 |  |
| &nbsp;&nbsp;&nbsp;- Issuance of ordinary shares | 2001499 | <sup>#</sup> | 2001499 | <sup>#</sup> |
| &nbsp;&nbsp;&nbsp;- Issuance of ordinary shares | 22998500 | <sup>\*</sup> | 22998500 | <sup>\*</sup> |
| Weighted average number of ordinary shares in issue as at August 31 | 25000000 |  | 25000000 |  |
| Basic earnings per ordinary share (USD) | 0.06 |  | 0.00 |  |

---

# In the calculation of earnings per share for the financial year ended August 31, 2025 and August 31, 2024, it is assumed that 2,001,499 ordinary shares were in issue as the acquisition of 3Knights Dynamics as disclosed in Note 1.4(b) was accounted for under the merger method of accounting.

\* In the calculation of earnings per share for the financial year ended August 31, 2025 and August 31, 2024, it is assumed that 22,998,500 ordinary shares were in issue as disclosed in Note 1.4(c) was accounted for under the merger method of accounting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Diluted
 earnings per share

The Group has no dilution in its earnings per ordinary share as there are no dilutive potential ordinary shares. There have been no other transactions involving ordinary shares or potential ordinary shares since the end of the reporting period and before the authorization of these financial statements.

22. **Staff Costs** 

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Cost of sales** |  |  |
| Director's fees | 57510 | 8540 |
| Salaries, wages and other emoluments | 24554 | 61729 |
| Defined contribution plans | 3016 | 6875 |
| Social security contributions | 272 | 551 |
| Other benefits | 31 | 64 |
| **Administrative expenses** |  |  |
| Director's fees | 112719 | 25620 |
| Salaries, wages and other emoluments | 10899 | 84538 |
| Defined contribution plans | 1297 | 10125 |
| Social security contributions | 132 | 810 |
| Other benefits | 15 | 94 |
|  | 210445 | 198946 |

---

Included in the staff costs above is aggregate amount of remuneration received/receivable by the Executive Directors of the Group during the financial year as below:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Directors' fees | 170229 | 34160 |
| Salaries and other emoluments | 27297 | 21351 |
| Defined contribution plans | 3285 | 2562 |
| Social security contributions | 264 | 184 |
| Other benefits | 30 | 22 |
|  | 201105 | 58279 |

---

23. **Reconciliation of Liabilities Arising from Financing Activities** 

The table below shows the details changes in the liabilities of the Group arising from financing activities, including both cash and non-cash changes.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | <br>**Note** |<br>**At**<br>**September 1**<br>**USD** |<br>**Financing**<br>**cash flows**<br>**USD** | **New lease**<br>**Note 3(d)**<br>**and Note 5**<br>**USD** |<br>**Other**<br>**changes (i)**<br>**USD** |<br>**At**<br>**August 31**<br>**USD** |
| **2025** |  |  |  |  |  |  |
| Lease liabilities | 11 | 33693 | (20707) |  | 127 | 13113 |
| Borrowings | 12 |  | 67031 |  | 1937 | 68968 |
| Amount due to Directors | 15 | 37071 | 52568 | - | 2318 | 91957 |
|  |  | 70764 | 98892 | - | 4382 | 174038 |
| **2024** |  |  |  |  |  |  |
| Lease liabilities | 11 |  | (7630) | 41973 | (650) | 33693 |
| Amount due to Directors | 15 | 990 | 33178 | - | 2903 | 37071 |
|  |  | 990 | 25548 | 41973 | 2253 | 70764 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 other changes is related to translation difference.

24. **Related Party Disclosures** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Identifying
 related parties

For the purposes of these financial statements, parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control or joint control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control. Related parties may be individuals or other entities.

Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. The key management personnel comprise the Directors of the Group, having authority and responsibility for planning, directing and controlling the activities of the Group directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Significant
 related party transactions

The Group has no related party balances and transactions with related parties during the financial year:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Compensation
 of key management personnel

Remuneration of key management personnel are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Directors' fees | 170229 | 34160 |
| Salaries and other emoluments | 27297 | 21351 |
| Defined contribution plans | 3285 | 2562 |
| Social security contributions | 264 | 184 |
| Other benefits | 30 | 22 |
|  | 201105 | 58279 |

---

The Group has no other members of key management personnel apart from the Director.

25. **Financial Instruments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Classification
 of financial instruments

The following table analyses the financial assets and financial liabilities in the consolidated statement of financial position by the class of financial instruments to which they are assigned, and therefore by the measurement basis:

---

| | | | |
|:---|:---|:---|:---|
|  |<br>**Carrying**<br>**amount**<br>**USD** | **Financial**<br>**assets at**<br>**amortized**<br>**cost**<br>**USD** | **Financial**<br>**liabilities at**<br>**amortized**<br>**cost**<br>**USD** |
| **2025** |  |  |  |
| **Financial assets** |  |  |  |
| Trade receivables | 643855 | 643855 |  |
| Other receivables | 7545 | 7545 |  |
| Cash and bank balances | 475280 | 475280 | - |
|  | 1126680 | 1126680 | - |
| **Financial liabilities** |  |  |  |
| Trade payables | 232794 |  | 232794 |
| Other payables | 19599 |  | 19599 |
| Amount due to Directors | 91957 |  | 91957 |
| Lease liabilities | 13113 |  | 13113 |
| Borrowings | 68968 | - | 68968 |
|  | 426431 | - | 426431 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |<br>**Carrying**<br>**amount**<br>**USD** | **Financial**<br>**assets at**<br>**amortized**<br>**cost**<br>**USD** | **Financial**<br>**liabilities at**<br>**amortized**<br>**cost**<br>**USD** |
| **2024** |  |  |  |
| **Financial assets** |  |  |  |
| Trade receivables | 917946 | 917946 |  |
| Other receivables | 6888 | 6888 |  |
| Cash and bank balances | 357 | 357 | - |
|  | 925191 | 925191 | - |
| **Financial liabilities** |  |  |  |
| Trade payables | 616677 |  | 616677 |
| Other payables | 165120 |  | 165120 |
| Amount due to Directors | 37071 |  | 37071 |
| Lease liabilities | 33693 | - | 33693 |
|  | 852561 | - | 852561 |

---

25. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies

The Group's financial risk management policy is to ensure that adequate financial resources are available for the development of the Group's operations whilst managing its credit, liquidity, foreign currency and interest rate risks. The Group operates within clearly defined guidelines that are approved by the Board and the Group's policy is not to engage in speculative transactions.

The following sections provide details regarding the Group's exposure to the abovementioned financial risks and the objectives, policies and processes for the management of these risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Credit
 risk

Credit risk is the risk of a financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group's exposure to credit risk arises principally from trade and other receivables and deposits with banks. There are no significant changes as compared to prior year.

The Group has adopted a policy of only dealing with creditworthy counterparties. Management has a credit policy in place to control credit risk by dealing with creditworthy counterparties and deposits with banks with good credit rating. The exposure to credit risk is monitored on an ongoing basis and action will be taken for long outstanding debts.

At each reporting date, the Group assesses whether any of the receivables are credit impaired.

The gross carrying amounts of credit impaired receivables are written off (either partial or in full) when there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. Nevertheless, receivables that are written off could still be subject to enforcement activities.

The carrying amounts of the financial assets recorded on the consolidated statement of financial position at the end of the reporting period represents the Group's maximum exposure to credit risk.

The Group's credit exposures are concentrated mainly on 2 (2024: 4) debtors, which accounted for 99% (2024: 85%) of total trade receivables at the end of the reporting period.

25. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial risk management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liquidity risk

Liquidity risk refers to the risk that the Group will encounter difficulty in meeting its financial obligations as they fall due. The Group's exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities.

The Group's funding requirements and liquidity risk are managed with the objective of meeting business obligations on a timely basis. The Group finances its liquidity through internally generated cash flows and minimizes liquidity risk by keeping committed credit lines available.

The following table analyses the remaining contractual maturity for financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.

---

| | | | |
|:---|:---|:---|:---|
|  | **On demand**<br>**or within 1**<br>**year**<br>**USD** | **Total**<br>**contractual**<br>**cash flows**<br>**USD** | **Total**<br>**carrying**<br>**amount**<br>**USD** |
| **2025** |  |  |  |
| **Non-derivative financial liabilities** |  |  |  |
| Trade payables | 232794 | 232794 | 232794 |
| Other payables | 19599 | 19599 | 19599 |
| Amount due to Directors | 91957 | 91957 | 91957 |
| Lease liabilities | 13413 | 13413 | 13113 |
| Borrowings | 55708 | 82879 | 68968 |
|  | 413471 | 440642 | 426431 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **On demand**<br>**or within 1**<br>**year**<br>**USD** | **Total**<br>**contractual**<br>**cash flows**<br>**USD** | **Total**<br>**carrying**<br>**amount**<br>**USD** |
| **2024** |  |  |  |
| **Non-derivative financial liabilities** |  |  |  |
| Trade payables | 616677 | 616677 | 616677 |
| Other payables | 165120 | 165120 | 165120 |
| Amount due to Directors | 37071 | 37071 | 37071 |
| Lease liabilities | 22510 | 35641 | 33693 |
|  | 841378 | 854509 | 852561 |

---

25. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Market
 risks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Foreign
 currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.

The Group is no exposed to foreign currency risk during the financial year August 31, 2025 and August 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest rate risk

The Group's variable rate borrowings are exposed to a risk of change in cash flows due to changes in interest rates.

The Group manages its interest rate risk exposure from interest bearing borrowings by obtaining financing with the most favorable interest rates in the market. The Group constantly monitors its interest rate risk by reviewing its debts portfolio to ensure favorable rates are obtained.

The interest rate profile of the Group's significant interest-bearing financial instruments, based on carrying amounts at the end of the reporting period was:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| **Fixed rate instruments:** |  |  |
| **Financial asset** | - | - |
| **Financial liability** |  |  |
| Lease liabilities | 13113 | 33693 |
| **Floating rate instruments:** |  |  |
| **Financial liabilities** |  |  |
| Borrowings | 68968 | - |
|  | 68968 | - |

---

25. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Market risks (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest
 rate risk (Cont'd)

**Interest rate risk sensitivity analysis**

Any reasonably possible change in the interest rates of floating rate term loans at the end of the reporting period does not have a material impact on the profit after taxation and other comprehensive income of the Group and hence, no sensitivity analysis is presented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Fair
 value of financial instruments

The carrying amounts of short-term receivables and payables, cash and cash equivalents and short-term borrowings approximate their fair value due to the relatively short-term nature of these financial instruments and insignificant impact of discounting.

The carrying amount of long-term floating rate borrowings approximate their fair value as the borrowings will be re-priced to market interest rate on or near reporting date.

As the financial assets and financial liabilities of the Group are not carried at fair value by any valuation method, therefore the fair value hierarchy analysis is not presented.

26. **Capital Management** 

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern in order to provide returns for shareholder and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholder, return capital to shareholder, issue new shares or sell assets to reduce debt.

The Group monitors capital using a gearing ratio, which is net debt divided by total equity. The Group includes within net debt, lease liabilities and term loans less cash and cash equivalents. The Group's policy is to maintain a prudent level of gearing ratio that complies with debt covenants. The gearing ratios at the end of the reporting period are as follows:

---

| | | |
|:---|:---|:---|
|  | **2025**<br>**USD** | **2024**<br>**USD** |
| Lease liabilities | 13113 | 33693 |
| Borrowings | 68968 | - |
|  | 82081 | 33693 |
| Less: Cash and cash equivalents | (475280) | (357) |
| Net (cash)/debt | (393199) | 33336 |
| Total equity | 717213 | 99738 |
| Gearing ratio (times) | -0.55 | 0.33 |

---

There was no change in the Group's approach to capital management during the financial year.

**3KNIGHTS DYNAMICS GROUP LIMITED**

**(Company No.: 426647)**

**(Incorporated in Cayman Islands)**

**ACCOUNTANTS' REPORT**

**FOR THE FINANCIAL YEARS ENDED**

**31 AUGUST 2025 AND 31 AUGUST 2024**

**Registered office:**

**C/O Ogier Global (Cayman) Limited**

**89 Nexus Way, Camana Bay**

**Grand Cayman KY1-9009**

**Cayman Islands**

**Principal place of business:**

No. 19-2, The Boulevard, Mid Valley City,

Lingkaran Syed Putra,

59200 Kuala Lumpur,

Wilayah Persekutuan Kuala Lumpur, Malaysia.

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE MEMBERS OF 3KNIGHTS DYNAMICS GROUP LIMITED**

(Company No.: 426647)

(Incorporated in Cayman Islands)

**Result of Review of Interim Financial Information**

We have reviewed the accompanying consolidated financial statements of 3Knights Dynamics Group Limited ("the Company") and its subsidiaries (collectively referred as "the Group"), which comprises the consolidated statement of financial position as at February 28, 2026 and the related consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the six-month periods ended February 28, 2026 and February 28, 2025, and the related notes to the consolidated financial statements.

This interim financial information has been prepared in conformity with IFRS Accounting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"), and our review was performed in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), specifically PCAOB Auditing Standard (AS) 4105 - Reviews of Interim Financial Information.

Based on our reviews, we are not aware of any material modifications that should be made to the financial information referred to above for them to be in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), the consolidated statement of financial position of the Company as of August 31, 2025, and the related consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the financial year then ended (not presented herein); and in our report dated March 6, 2026, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated statement of financial position as of August 31, 2025, is fairly stated, in all material respects, in relation to the consolidated statement of financial position from which it has been derived.

**Basis for Review Results**

These consolidated financial statements are the responsibility of the Company's management. We conducted our review in accordance with the standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

---

| |
|:---|
| /s/ WS & CO PLT |
| WS & CO PLT |
| 202206000035 (LLP0033211-LCA) & AF002338 |
| Chartered Accountants |

---

We have served as the Company's auditor since 2025.

JOHOR BAHRU, MALAYSIA

May 18, 2026

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION**

**AS AT FEBRUARY 28, 2026** 

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Note** | **Unaudited**<br>**February 28,**<br> **2026**<br>**USD** | **Audited**<br>**August 31,<br> 2025**<br>**USD** |
| **ASSETS** |  |  |  |
| **Non-Current Assets** |  |  |  |
| Property, plant and equipment | 1 | 1724776 | 10948 |
| Right-of-use assets | 2 | 1940 | 12506 |
| Deferred tax asset | 3 | - | 434 |
|  |  | 1726716 | 23888 |
| **Current Assets** |  |  |  |
| Trade receivables | 4 | 683851 | 643855 |
| Other receivables | 5 | 438723 | 7545 |
| Cash and bank balances |  | 207039 | 475280 |
|  |  | 1329613 | 1126680 |
| **Total Assets** |  | 3056329 | 1150568 |
| **EQUITY AND LIABILITIES** |  |  |  |
| **Equity** |  |  |  |
| Class A Ordinary Shares | 6 | 2300 | 2300 |
| Class B Ordinary Shares | 6 | 200 | 200 |
| Merger reserve |  | 2192 | 2192 |
| Foreign currency translation reserve | 7 | 101677 | (4643) |
| Retained earnings |  | 1604261 | 717164 |
| **Total Equity** |  | 1710630 | 717213 |
| **Non-Current Liabilities** |  |  |  |
| Borrowings | 8 | 20471 | 22420 |
| Deferred tax liabilities | 3 | 5835 | - |
|  |  | 26306 | 22420 |
| **Current Liabilities** |  |  |  |
| Trade payables | 9 | 235013 | 232794 |
| Other payables | 10 | 777992 | 19599 |
| Amount due to Directors | 11 | 252816 | 91957 |
| Lease liabilities | 12 | 2070 | 13113 |
| Borrowings | 8 | 47838 | 46548 |
| Tax payable |  | 3664 | 6924 |
|  |  | 1319393 | 410935 |
| **Total Liabilities** |  | 1345699 | 433355 |
| **Total Equity and Liabilities** |  | 3056329 | 1150568 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND**

**OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD FROM**

**SEPTEMBER 1, 2025 TO FEBRUARY 28, 2026**

---

| | | | |
|:---|:---|:---|:---|
|  | | **Unaudited** | **Unaudited** |
|  | <br>**Note** | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| Revenue | 13 | 7770247 | 2352493 |
| Cost of sales |  | (4750769) | (1945846) |
| Gross profit |  | 3019478 | 406647 |
| Other income |  | 52 | 4 |
| Administrative expenses |  | (400982) | (61307) |
| Net (loss)/gain on impairment of financial instruments |  | (7670) | 4933 |
| Finance costs | 14 | (5155) | (986) |
| Profit before tax | 15 | 2605723 | 349291 |
| Income tax expenses | 16 | (6004) | (2881) |
| Profit for the financial period |  | 2599719 | 346410 |
| **Other comprehensive income** |  |  |  |
| ***Items that are or may be reclassified subsequently to profit or loss*** |  |  |  |
| Exchange translation differences |  | 106320 | (8271) |
| Total comprehensive income for the financial period |  | 2706039 | 338139 |
| **Earnings per share** | 18 |  |  |
| Basic earnings per share (sen) |  | 0.10 | 0.01 |
| Diluted earnings per share (sen) |  | 0.10 | 0.01 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY**

**FOR THE FINANCIAL PERIOD FROM SEPTEMBER 1, 2025 TO FEBRUARY 28, 2026**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Distributable** | |
|  | | **Class A Ordinary Shares** | **Class A Ordinary Shares** | **Class B Ordinary Shares** | **Class B Ordinary Shares** | | | | |
|  | | **Number of** | | **Number of** | | | | | |
|  | | **shares** | | **shares** | | | | | |
|  | <br>**Note** | |<br>**Amount**<br>**USD** | |<br>**Amount**<br>**USD** |<br>**Merger**<br>**reserve**<br>**USD** | **Foreign Exchange**<br>**Translation**<br>**Reserve**<br>**USD** |<br>**Retained**<br>**Earnings**<br>**USD** |<br>**Total**<br>**Equity**<br>**USD** |
| **UNAUDITED** |  |  |  |  |  |  |  |  |  |
| At September 1, 2025 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | (4643) | 717164 | 717213 |
| Profit for the financial period |  |  |  |  |  |  |  | 2599719 | 2599719 |
| Other comprehensive income for the financial period |  | - | - | - | - | - | 106320 | - | 106320 |
| Total comprehensive income for the financial period |  |  |  |  |  |  | 106320 | 2599719 | 2706039 |
| **Transaction with owners:** |  |  |  |  |  |  |  |  |  |
| Dividend paid | 17 | - | - | - | - | - | - | (1712622) | (1712622) |
| At February 28, 2026 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | 101677 | 1604261 | 1710630 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONT'D)**

**FOR THE FINANCIAL PERIOD FROM SEPTEMBER 1, 2024 TO FEBRUARY 28, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Non-distributable** | **Distributable** | |
|  | | **Class A Ordinary Shares** | **Class A Ordinary Shares** | **Class B Ordinary Shares** | **Class B Ordinary Shares** | | | | |
|  | <br>**Note** | **Number of**<br>**shares** |<br>**Amount**<br>**USD** | **Number of**<br>**shares** |<br>**Amount**<br>**USD** |<br>**Merger**<br>**reserve**<br>**USD** | **Foreign Exchange**<br>**Translation**<br>**Reserve**<br>**USD** |<br>**Retained**<br>**Earnings**<br>**USD** |<br>**Total**<br>**Equity**<br>**USD** |
| **UNAUDITED** |  |  |  |  |  |  |  |  |  |
| At September 1, 2024 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | 7481 | 87565 | 99738 |
| Profit for the financial period |  |  |  |  |  |  |  | 346410 | 346410 |
| Other comprehensive loss for the financial period |  | - | - | - | - | - | (8271) | - | (8271) |
| Total comprehensive income for the financial period |  | - | - | - | - | - | (8271) | 346410 | 338139 |
| At February 28, 2025 |  | 23000000 | 2300 | 2000000 | 200 | 2192 | (790) | 433975 | 437877 |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE FINANCIAL PERIOD FROM SEPTEMBER 1, 2025**

**TO FEBRUARY 28, 2026**

---

| | | | |
|:---|:---|:---|:---|
|  | | **Unaudited** | **Unaudited** |
|  | <br>**Note** | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Operating Activities** |  |  |  |
| Profit before tax |  | 2605723 | 349291 |
| Adjustments for: |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation of: |  |  |  |
| &nbsp;&nbsp;&nbsp;- plant and equipment |  | 57534 | 15 |
| &nbsp;&nbsp;&nbsp;- Right-of-use assets |  | 11080 | 10308 |
| &nbsp;&nbsp;&nbsp;Finance costs |  | 5155 | 986 |
| &nbsp;&nbsp;&nbsp;Impairment losses on trade receivables |  | 7670 |  |
| &nbsp;&nbsp;&nbsp;Interest income |  | (52) | (4) |
| &nbsp;&nbsp;&nbsp;Reversal of impairment loss on trade receivable |  | - | (4933) |
| Operating profit before working capital changes |  | 2687110 | 355663 |
| Changes in working capital: |  |  |  |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 6869 | (135435) |
| &nbsp;&nbsp;&nbsp;Other receivables |  | (409853) | 6767 |
| &nbsp;&nbsp;&nbsp;Trade payables |  | (16910) | 32583 |
| &nbsp;&nbsp;&nbsp;Other payables |  | 720369 | (124207) |
|  |  | 300475 | (220292) |
| Cash generated from operations |  | 2987585 | 135371 |
| Interest received |  | 52 | 4 |
| Tax paid |  | (3670) | - |
| Net cash from operating activities |  | 2983967 | 135375 |
| **Investing Activity** |  |  |  |
| Purchase of plant and equipment | 1 | (1688156) | (467) |
| Net cash used in investing activity |  | (1688156) | (467) |

---

The accompanying notes form an integral part of the consolidated financial statements.

**3KNIGHTS DYNAMICS GROUP LIMITED** 

(Incorporated in Cayman Islands)

**UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS**

**FOR THE FINANCIAL PERIOD FROM SEPTEMBER 1, 2025**

**TO FEBRUARY 28, 2026 (CONT'D)**

---

| | | | |
|:---|:---|:---|:---|
|  | | **Unaudited** | **Unaudited** |
|  | <br>**Note** | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Financing Activities** |  |  |  |
| Drawdown of term loans |  | 18350 |  |
| Dividends paid |  | (1712622) |  |
| Interest paid |  | (5155) | (986) |
| Net changes in amount due to Directors |  | 145619 | (4324) |
| Payment of lease liabilities |  | (11586) | (10069) |
| Repayment of term loans |  | (24613) | - |
| Net cash used in financing activities |  | (1590007) | (15379) |
| **Net (decrease)/increase in cash and cash equivalents** |  | (294196) | 119529 |
| **Effects of exchange translation differences on cash and cash equivalents** |  | 25955 | (1762) |
| **Cash and cash equivalents at the beginning of the financial period** |  | 475280 | 357 |
| **Cash and cash equivalents at the end of the financial period** |  | 207039 | 118124 |
| **<u>Cash flows for leases as a lessee</u>** |  |  |  |
| **Including in Operating Activities** |  |  |  |
| Interest paid in relation to lease liability (Note 14) |  | 299 | 986 |
| Payment relating to short-term leases (Note 15) |  | 388 | 437 |
| **Including in Financing Activities** |  |  |  |
| Payment of lease liabilities |  | 11586 | 10069 |
| Total cash outflows for leases |  | 12273 | 11492 |

---

The accompanying notes form an integral part of the consolidated financial statements.

1. **Property, Plant and Equipment** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Computer**<br>**and**<br>**software**<br>**USD** |<br>**Office**<br>**equipment**<br>**USD** |<br>**Total**<br>**USD** |
| **Unaudited** | | | |
| **February 28, 2026** |  |  |  |
| **Cost** |  |  |  |
| At September 1, 2025 | 12071 | 130 | 12201 |
| Additions | 1688156 |  | 1688156 |
| Translation differences | 86203 | 12 | 86215 |
| At February 28, 2026 | 1786430 | 142 | 1786572 |
| **Accumulated depreciation** |  |  |  |
| At September 1, 2025 | 1231 | 22 | 1253 |
| Charge for the financial year | 57520 | 14 | 57534 |
| Translation differences | 3007 | 2 | 3009 |
| At February 28, 2026 | 61758 | 38 | 61796 |
| **Carrying amount** |  |  |  |
| At February 28, 2026 | 1724672 | 104 | 1724776 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Computer**<br>**and**<br>**software**<br>**USD** |<br>**Office**<br>**equipment**<br>**USD** |<br>**Total**<br>**USD** |
| **Audited** | | | |
| **August 31, 2025** |  |  |  |
| **Cost** |  |  |  |
| At September 1, 2024 |  |  |  |
| Additions | 11732 | 126 | 11858 |
| Translation differences | 339 | 4 | 343 |
| At August 31, 2025 | 12071 | 130 | 12201 |
| **Accumulated depreciation** |  |  |  |
| At September 1, 2024 |  |  |  |
| Charge for the financial year | 1196 | 21 | 1217 |
| Translation differences | 35 | 1 | 36 |
| At August 31, 2025 | 1231 | 22 | 1253 |
| **Carrying amount** |  |  |  |
| At August 31, 2025 | 10840 | 108 | 10948 |

---

2. **Right-of-use Assets** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| **Lease of buildings** |  |  |
| **Cost** |  |  |
| At September 1 | 42877 | 41973 |
| Translation differences | 3680 | 904 |
| At February 28/August 31 | 46557 | 42877 |
| **Accumulated depreciation** |  |  |
| At September 1 | 30371 | 8744 |
| Charge for the financial year | 11080 | 20836 |
| Translation differences | 3165 | 791 |
| At February 28/August 31 | 44617 | 30371 |
| **Carrying amount** |  |  |
| At February 28/August 31 | 1940 | 12506 |

---

3. **Deferred Tax Liabilities/(Assets)** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| At September 1 | (434) | (2300) |
| Recognized in profit or loss (Note 16) | 6004 | 1862 |
| Translation differences | 265 | 4 |
| At February 28/August 31 | 5835 | (434) |

---

The components and movements of the deferred tax liabilities and assets of the Group are as follows:

<u>Deferred tax liabilities</u>

---

| | | | |
|:---|:---|:---|:---|
|  | **Accelerated**<br>**capital**<br>**allowances**<br>**USD** |<br>**Right-of-use**<br>**assets**<br>**USD** |<br>**Total**<br>**USD** |
| At September 1, 2025 | 871 | 3001 | 3872 |
| Recognized in profit or loss | 7723 | (2659) | 5064 |
| Translation differences | 463 | 124 | 587 |
| At February 28, 2026 (before offsetting) | 9059 | 466 | 9524 |
| Offsetting |  |  | (3689) |
| At February 28, 2026 (after offsetting) |  |  | 5835 |
| At September 1, 2024 |  | 7975 | 7975 |
| Recognized in profit or loss | 846 | (5001) | (4155) |
| Translation differences | 25 | 27 | 52 |
| At August 31, 2024 (before offsetting) | 871 | 3001 | 3872 |
| Offsetting |  |  | (3872) |
| At August 31, 2025 (after offsetting) |  |  | - |

---

3. **Deferred Tax Liabilities/(Assets) (Cont'd)** 

The components and movements of the deferred tax liabilities and assets of the Group are as follows: (Cont'd)

<u>Deferred tax assets</u>

---

| | | | |
|:---|:---|:---|:---|
|  | **Lease**<br>**liabilities**<br>**USD** |<br>**Provisions**<br>**USD** |<br>**Total**<br>**USD** |
| At September 1, 2025 | (3147) | (1159) | (4306) |
| Recognized in profit or loss | 2781 | (1841) | 940 |
| Translation differences | (131) | (192) | (323) |
| At February 28, 2026 (before offsetting) | (497) | (3192) | (3689) |
| Offsetting |  |  | 3689 |
| At February 28, 2026 (after offsetting) |  |  | - |
| At September 1, 2024 | (8086) | (2189) | (10275) |
| Recognized in profit or loss | 4970 | 1047 | 6017 |
| Translation differences | (31) | (17) | (48) |
| At August 31, 2025 (before offsetting) | (3147) | (1159) | (4306) |
| Offsetting |  |  | 3872 |
| At August 31, 2025 (after offsetting) |  |  | (434) |

---

4. **Trade Receivables** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| Trade receivables | 697152 | 648685 |
|  | 697152 | 648685 |
| Less: Accumulated impairment losses | (13301) | (4830) |
|  | 683851 | 643855 |

---

Trade receivables are non-interest bearing and are generally on 30 to 60 days (August 31, 2025: 30 to 60 days) terms. They are recognized at their original invoice amounts which represent their fair values on initial recognition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Trade Receivables (Cont'd)** 

Movements in the allowance for impairment losses on trade receivables are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Lifetime**<br>**allowance**<br>**USD** | **Credit**<br>**impaired**<br>**USD** | **Loss**<br>**allowance**<br>**USD** |
| **Unaudited** | | | |
| **February 28, 2026** |  |  |  |
| At September 1, 2025 | 4830 |  | 4830 |
| Impairment losses recognized | 7670 |  | 7670 |
| Translation differences | 801 |  | 801 |
| At February 28, 2026 | 13301 |  | 13301 |
| **Audited** |  |  |  |
| **August 31, 2025** |  |  |  |
| At September 1, 2024 | 9120 |  | 9120 |
| Reversal of impairment losses | (4361) |  | (4361) |
| Translation differences | 71 |  | 71 |
| At August 31, 2025 | 4830 |  | 4830 |

---

The loss allowance account in respect of trade receivables is used to record loss allowances. Unless the Group is satisfied that recovery of the amount is possible, the amount considered irrecoverable is written off against the receivable directly.

The ageing analysis of trade receivables at the end of the reporting period are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Gross**<br>**amount**<br>**USD** | **Loss**<br>**allowance**<br>**USD** | **Net**<br>**amount**<br>**USD** |
| **Unaudited** | | | |
| **February 28, 2026** |  |  |  |
| Not past due | 43691 |  | 43691 |
| Past due |  |  |  |
| &nbsp;&nbsp;&nbsp;Less than 30 days | 462606 | (5136) | 457470 |
| &nbsp;&nbsp;&nbsp;31 to 60 days | 128502 | (1427) | 127075 |
| &nbsp;&nbsp;&nbsp;61 to 90 days | 1284 | (14) | 1270 |
| &nbsp;&nbsp;&nbsp;More than 90 days | 61069 | (6724) | 54345 |
|  | 653461 | (13301) | 640160 |
| **Credit impaired** |  |  |  |
| Individually impaired | - | - | - |
|  | 697152 | (13301) | 683851 |

---

4. **Trade Receivables (Cont'd)** 

The ageing analysis of trade receivables at the end of the reporting period are as follows: (Cont'd)

---

| | | | |
|:---|:---|:---|:---|
|  | **Gross**<br>**amount**<br>**USD** | **Loss**<br>**allowance**<br>**USD** | **Net**<br>**amount**<br>**USD** |
| **Audited** | | | |
| **August 31, 2025** |  |  |  |
| Not past due | 378698 |  | 378698 |
| Past due |  |  |  |
| &nbsp;&nbsp;&nbsp;Less than 30 days | 142012 | (1579) | 140433 |
| &nbsp;&nbsp;&nbsp;31 to 60 days | 119320 | (1329) | 117991 |
| &nbsp;&nbsp;&nbsp;61 to 90 days | 3124 | (35) | 3089 |
| &nbsp;&nbsp;&nbsp;More than 90 days | 5531 | (1887) | 3644 |
|  | 269987 | (4830) | 265157 |
| **Credit impaired** |  |  |  |
| Individually impaired | - | - | - |
|  | 648685 | (4830) | 643855 |

---

Trade receivables that are not past due nor individually impaired are creditworthy debtors with good payment records with the Group.

As at February 28, 2026, gross trade receivables of USD653,461 (August 31, 2025: USD269,987) were past due but not individually impaired. These relate to a number of independent customers from whom there is no recent history of default.

No trade receivables of the Group that are individually assessed to be impaired.

5**.** **Other Receivables** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Unaudited** | **Unaudited** | **Audited** | **Audited** |
|  | **February 28, 2026** | **February 28, 2026** | **August 31, 2025** | **August 31, 2025** |
|  | **USD** | **USD** | **USD** | **USD** |
| Other receivables |  | 229315 |  |  |
| Prepayment |  | 200860 |  |  |
| Deposits | | 8,548 | | 7,545 |
|  | | 438,723 | | 7,545 |

---

The Company capitalized USD430,175 of deferred initial public offering ("IPO") costs. Such costs will be deferred until the closing of the IPO, at which time the deferred IPO costs will be offset against the offering proceeds if successful listing.

6. **Share Capital and Merger Reserve** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Share
 capital

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of shares** | **Number of shares** | **Amount** | **Amount** |
|  | **Unaudited**<br>**February 28, 2026**<br>**Units** | **Audited**<br>**August 31, 2025**<br>**Units** | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| **Issued and fully paid ordinary shares with no par value** |  |  |  |  |
| At February 28/At August 31 | 25000000 | 25000000 | 2500 | 2500 |

---

For the purpose of undertaking a public offering of the Company's Class A Ordinary Shares, the Company completed a series of reorganization transactions resulting in 20,000,000 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares being issued and outstanding, which have been retroactively restated to the beginning of the earliest period presented.

The authorized share capital of the Company is USD50,000 divided into 450,000,000 Class A Ordinary Shares with a par value of USD0.0001 each and 50,000,000 Class B Ordinary Shares with a par value of USD0.0001 each. All the issued and outstanding Class A Ordinary Shares and Class B Ordinary Shares are fully paid.

Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for voting and conversion rights. Holders of Class A Ordinary Shares and Class B Ordinary Shares shall at all times vote together as one class on all resolutions submitted to a vote by the shareholders. Each Class A Ordinary Share is entitled to one vote on all matters subject to vote at general meetings of our Company, and each Class B Ordinary Share is entitled to 20 votes on all matters subject to vote at general meetings of our Company. Each Class B Ordinary Share is convertible into one fully paid Class A Ordinary Share at any time after the date of issuance of such share at the option of the holder thereof. In no event shall Class A Ordinary Shares be convertible into Class B Ordinary Shares.

On October 10, 2025, the Company issued an aggregate of 1,499 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares to an existing shareholder of the Company.

On December 3, 2025, the Company issued a total of 22,998,500 Class A Ordinary Shares to the existing shareholder of the Company to perfect the Company's capital structure in anticipation of the expected initial public offering of its Class A Ordinary Shares, and the concurrent listing of its Class A Ordinary Shares on the Nasdaq Stock Market LLC. The Company has accounted for these issuances of Class A Ordinary Shares as a stock dividend; accordingly, the Company has retroactively restated the presentation of its historical capital structure to the earliest period presented.

6. **Share Capital and Merger Reserve (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Merger
 reserve

The merger reserve arose from the reorganization of the Group accounted for as a business combination under common control, which was measured using the predecessor value method. The difference between the consideration transferred and the share capital acquired is recorded as merger reserve in equity and that has been retroactively restated to the beginning of the earliest period presented to reflect the Group's capital structure as if the reorganization had occurred at that date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **Foreign Currency Translation Reserve** 

The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of the Group as its functional currency is different from the presentation currency.

8. **Borrowings** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Audited** |
|  | **February 28, 2026** | **August 31, 2025** |
|  | **USD** | **USD** |
| **Secured** |  |  |
| Term loans | 68309 | 68968 |
|  | 68309 | 68968 |
| **Analyzed as:** |  |  |
| **Non-Current** |  |  |
| **Secured** |  |  |
| Term loans | 20471 | 22420 |
| **Current** |  |  |
| **Secured** |  |  |
| Term loans | 47838 | 46548 |
|  | 47838 | 46548 |

---

Term loans obtained by the Group from non-bank financial institutions are secured by jointly and severally guarantees by the Directors of the Company.

8. **Borrowings (Cont'd)** 

Maturity of the borrowings of the Group are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Unaudited** | **Unaudited** | **Audited** | **Audited** |
|  | **February 28, 2026** | **February 28, 2026** | **August 31, 2025** | **August 31, 2025** |
|  | **USD** | **USD** | **USD** | **USD** |
| Within one year |  | 47838 |  | 46548 |
| Between one year and two years | | 20,471 | | 22,420 |
|  | | 68,309 | | 68,968 |

---

The effective interest rates per annum of the borrowings of the Group at the reporting date are as follows:

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026%** | **Audited**<br>**August 31, 2025** %** |
| Term loans | 4.3% - 12.3 | 12% - 12.3 |

---

9. **Trade Payables** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Unaudited** | **Unaudited** | **Audited** | **Audited** |
|  | **February 28, 2026** | **February 28, 2026** | **August 31, 2025** | **August 31, 2025** |
|  | **USD** | **USD** | **USD** | **USD** |
| Trade payables | | 235,013 | | 232,794 |

---

The normal trade credit terms granted to the Group range from 30 to 60 days (August 31, 2025: 30 to 60 days) depending on the terms of the contracts.

10. **Other Payables** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| Accruals | 22719 | 9923 |
| Contract liabilities | 513017 |  |
| Other payables | 242256 | 9676 |
|  | 777992 | 19599 |

---

11. **Amount Due to Directors** 

This represents unsecured, non-interest bearing advances and repayable on demand.

12. **Lease Liabilities** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| At September 1 | 13113 | 33693 |
| Accretion of interest | 299 | 1642 |
| Payments | (11885) | (22349) |
| Translation differences | 543 | 127 |
| At February 28/August 31 | 2070 | 13113 |
| Presented as: |  |  |
| Non-current |  |  |
| Current | 2070 | 13113 |
|  | 2070 | 13113 |

---

The maturity analysis of lease liabilities of the Group at the end of the reporting period are as follows:

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| **Minimum lease payments** |  |  |
| Within one year | 2082 | 13413 |
| Later than one year but not later than two years | - | - |
|  | 2082 | 13413 |
| Less: Future finance charges | (12) | (300) |
| Present value of lease liabilities | 2070 | 13113 |

---

The Group leases buildings. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

The weighted average incremental borrowing rate applied to lease liabilities of the Group at the reporting date is 6.82% (August 31, 2025: 6.82%).

13. **Revenue** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Revenue from contracts with customers** |  |  |
| Service rendered | 7770247 | 2352493 |
| **Timing of revenue recognition** |  |  |
| Over time | 7770247 | 2352493 |

---

Revenue from service rendered which related to the information communication technology are recognized at over time when service is rendered to the customer, the significant risks and rewards are transferred to the customer and the transaction has met the probability of inflows and measurement reliability requirements of IFRS 15.

---

| | | |
|:---|:---|:---|
| **Nature of services** | **Timing of recognition or method used to recognize revenue** | **Significant payment terms** |
| AI-related projects | Revenue is recognized over time as performance obligations are satisfied, generally based on milestone completion and client acceptance testing | Credit period of 30 days from invoice date |

---

The revenue from contracts with customers of the Group is not subject to variable element in the consideration, obligation for returns or refunds and warranty. Defect liability periods of 14 days are given to customers.

The Group does not incur incremental costs to obtain contracts that qualify for capitalization under IFRS 15. Any costs incurred to fulfil contracts are expensed as incurred as they do not generate resources that are expected to be recovered.

14. **Finance Costs** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Interest expenses on:** |  |  |
| Lease liabilities | 299 | 986 |
| Term loans | 4856 | - |
|  | 5155 | 986 |

---

15. **Profit before Tax** 

Profit before tax is arrived at after charging/(crediting):

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| Auditors' remuneration |  | 2162 |
| Depreciation of: |  |  |
| - Property, plant and equipment | 57534 | 15 |
| - Right-of-use assets | 11080 | 10308 |
| Impairment losses on trade receivables | 7670 |  |
| Leases expenses relating to short-term leases | 388 | 437 |
| Loss on realized foreign exchange |  | 34 |
| Interest income | (52) | (4) |
| Reversal of impairment loss on trade receivable | - | (4933) |

---

16. **Taxation** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Tax expenses recognized in profit or loss** |  |  |
| **Malaysian income tax** |  |  |
| Current tax provision |  | 1940 |
| Over provision in prior year | - | (44) |
|  | - | 1896 |
| **Deferred tax (Note 3)** |  |  |
| Relating to origination and reversal of temporary differences | 6004 | 985 |
|  | 6004 | 985 |
|  | 6004 | 2881 |

---

Malaysian income tax is calculated at the statutory rate of 15% on the first RM150,000 chargeable income, 17% on the chargeable income from RM150,001 to RM600,000 and 24% on the balance of chargeable income (2024: 15% on the first RM150,000 chargeable income, 17% on the chargeable income from RM150,001 to RM600,000 and 24% on the balance of chargeable income) of the estimated assessable profits for the financial year.

16. **Taxation (Cont'd)** 

A reconciliation of income tax expenses applicable to the profit before tax at the statutory income tax rate to income tax expenses at the effective income tax rate of the Group are as follows:

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| Profit before tax | 2605723 | 349291 |
| At Malaysian statutory tax rate of 24% (February 28, 2025: 24%) | 625374 | 83830 |
| Effect of income subject to tax rate of 15% and 17% (February 28, 2025: 15% and 17%) |  | (1164) |
| Income not subject to tax | (12) |  |
| Expenses not deductible for tax purposes | 27 | 6 |
| Over provision of income tax in respect of prior year |  | (44) |
| Income tax exemption | (619385) | (79747) |
| Tax expenses for the financial period | 6004 | 2881 |

---

During the financial year 2024, 3Knights Dynamics was granted MSC Malaysia status by Malaysian Investment Development Authority ("MIDA") vide approval letter. Pursuant to the Income Tax (Exemption) (No. 10) 2018 [P.U. (A) 389/2018] ("the Exemption Order"), the Minister of Finance has approved the commencement date of the income tax exemption incentive for the Company from April 2, 2024 to April 1, 2029 for a period of 5 years.

17. **Dividends** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Dividends recognized as distribution to ordinary shareholder of the subsidiary** |  |  |
| A single-tier interim dividend of RM350 (February 28, 2025: NIL) |  |  |
| &nbsp;&nbsp;&nbsp;per ordinary share in respect of the financial year |  |  |
| &nbsp;&nbsp;&nbsp;ending August 31, 2026 and financial year ended |  |  |
| &nbsp;&nbsp;&nbsp;August 31, 2025 | 1712622 |  |

---

18. **Earnings per Share** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Basic
 earnings per share

The basic earnings per share are calculated based on the profit for the financial year attributable to the owners of the Company and the weighted average number of ordinary shares in issue during the financial year as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Unaudited** | **Unaudited** | **Unaudited** |  |
|  | **September 1, 2025 to**<br>**February 28, 2026** |  | **September 1, 2024 to**<br>**February 28, 2025** |  |
| Profit attributable to the owners of the Company (USD) | 2599719 |  | 346410 |  |
| Weighted average number of ordinary shares in issue |  |  |  |  |
| &nbsp;&nbsp;&nbsp;- Ordinary shares in issue as at September 1 | 1 |  | 1 |  |
| &nbsp;&nbsp;&nbsp;- Issuance of ordinary shares | 2001499 | <sup>#</sup> | 2001499 | <sup>#</sup> |
| &nbsp;&nbsp;&nbsp;- Issuance of ordinary shares | 22998500 | <sup>\*</sup> | 22998500 | <sup>\*</sup> |
| Weighted average number of ordinary shares in issue as at February 28 | 25000000 |  | 25000000 |  |
| Basic earnings per ordinary share (USD) | 0.10 |  | 0.01 |  |

---

# In the calculation of earnings per share for the financial period ended February 28, 2026 and February 28, 2025, it is assumed that 2,001,499 ordinary shares were in issue as the acquisition of 3Knights Dynamics.

\* In the calculation of earnings per share for the financial period ended February 28, 2026 and February 28, 2025, it is assumed that 22,998,500 ordinary shares were in issue and was accounted for under the merger method of accounting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Diluted
 earnings per share

The Group has no dilution in its earnings per ordinary share as there are no dilutive potential ordinary shares. There have been no other transactions involving ordinary shares or potential ordinary shares since the end of the reporting period and before the authorization of these financial statements.

19. **Staff Costs** 

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| **Cost of sales** |  |  |
| Director's fees | 293592 | 10242 |
| Salaries, wages and other emoluments | 587537 | 17525 |
| Defined contribution plans | 5901 | 1420 |
| Social security contributions | 935 | 91 |
| Other benefits | 88 | 10 |
| **Administrative expenses** |  |  |
| Director's fees | 293592 | 10242 |
| Salaries, wages and other emoluments | 14924 | 6487 |
| Defined contribution plans | 1791 | 765 |
| Social security contributions | 127 | 91 |
| Other benefits | 14 | 10 |
|  | 1198501 | 46883 |

---

Included in the staff costs above is aggregate amount of remuneration received/receivable by the Executive Directors of the Group during the financial period as below:

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| Directors' fees | 587184 | 20484 |
| Salaries and other emoluments | 29604 | 18322 |
| Defined contribution plans | 3553 | 2185 |
| Social security contributions | 254 | 182 |
| Other benefits | 29 | 20 |
|  | 620624 | 41193 |

---

20. **Reconciliation of Liabilities Arising from Financing Activities** 

The table below shows the details changes in the liabilities of the Group arising from financing activities, including both cash and non-cash changes.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | <br>**Note** | **At**<br>**September 1**<br>**USD** | **Financing**<br>**cash flows**<br>**USD** | **Other**<br>**changes (i)**<br>**USD** | **At**<br>**February 28**<br>**USD** |
| **Unaudited** |  |  |  |  |  |
| **February 28, 2026** |  |  |  |  |  |
| Lease liabilities | 12 | 13113 | (11586) | 543 | 2070 |
| Borrowings | 8 | 68968 | (6263) | 5604 | 68309 |
| Amount due to Directors | 11 | 91957 | 145619 | 15240 | 252816 |
|  |  | 174038 | 127770 | 21387 | 323195 |
| **Unaudited** |  |  |  |  |  |
| **February 28, 2025** |  |  |  |  |  |
| Lease liabilities | 12 | 33693 | (10069) | (933) | 22691 |
| Amount due to Directors | 11 | 37071 | (4324) | 1126 | (31621) |
|  |  | 70764 | (14393) | 193 | (8930) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 other changes is related to translation difference.

21. **Related Party Disclosures** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Identifying
 related parties

For the purposes of these financial statements, parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control or joint control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control. Related parties may be individuals or other entities.

Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Group either directly or indirectly. The key management personnel comprise the Directors of the Group, having authority and responsibility for planning, directing and controlling the activities of the Group directly or indirectly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Significant
 related party transactions

Related party transactions have been entered into the normal course of business under negotiated terms. The Group has no other related party transactions with related parties during the financial period other than disclosed in (c) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Compensation
 of key management personnel

Remuneration of key management personnel are as follows:

---

| | | |
|:---|:---|:---|
|  | **Unaudited** | **Unaudited** |
|  | **September 1, 2025 to**<br>**February 28, 2026**<br>**USD** | **September 1, 2024 to**<br>**February 28, 2025**<br>**USD** |
| Directors' fees | 587184 | 20484 |
| Salaries and other emoluments | 29604 | 18322 |
| Defined contribution plans | 3553 | 2185 |
| Social security contributions | 254 | 182 |
| Other benefits | 29 | 20 |
|  | 620624 | 41193 |

---

The Group has no other members of key management personnel apart from the Director.

22. **Financial Instruments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Classification
 of financial instruments

The following table analyses the financial assets and financial liabilities in the consolidated statement of financial position by the class of financial instruments to which they are assigned, and therefore by the measurement basis:

---

| | | | |
|:---|:---|:---|:---|
|  |<br>**Carrying**<br>**amount**<br>**USD** | **Financial**<br>**assets at**<br>**amortized**<br>**cost**<br>**USD** | **Financial**<br>**liabilities at**<br>**amortized**<br>**cost**<br>**USD** |
| **Unaudited** |  |  |  |
| **February 28, 2026** |  |  |  |
| **Financial assets** |  |  |  |
| Trade receivables | 683851 | 683851 |  |
| Other receivables | 438723 | 438723 |  |
| Cash and bank balances | 207039 | 207039 | - |
|  | 1329613 | 1329613 | - |
| **Financial liabilities** |  |  |  |
| Trade payables | 235013 |  | 235013 |
| Other payables | 777992 |  | 777992 |
| Amount due to Directors | 252816 |  | 252816 |
| Lease liabilities | 2070 |  | 2070 |
| Borrowings | 68309 | - | 68309 |
|  | 1336200 | - | 1336200 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |<br>**Carrying**<br>**amount**<br>**USD** | **Financial**<br>**assets at**<br>**amortized**<br>**cost**<br>**USD** | **Financial**<br>**liabilities at**<br>**amortized**<br>**cost**<br>**USD** |
| **Audited** |  |  |  |
| **August 31, 2025** |  |  |  |
| **Financial assets** |  |  |  |
| Trade receivables | 643855 | 643855 |  |
| Other receivables | 7545 | 7545 |  |
| Cash and bank balances | 475280 | 475280 | - |
|  | 1126680 | 1126680 | - |
| **Financial liabilities** |  |  |  |
| Trade payables | 232794 |  | 232794 |
| Other payables | 19599 |  | 19599 |
| Amount due to Directors | 91957 |  | 91957 |
| Lease liabilities | 13113 |  | 13113 |
| Bank borrowings | 68968 | - | 68968 |
|  | 426431 | - | 426431 |

---

22. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies

The Group's financial risk management policy is to ensure that adequate financial resources are available for the development of the Group's operations whilst managing its credit, liquidity, foreign currency and interest rate risks. The Group operates within clearly defined guidelines that are approved by the Board and the Group's policy is not to engage in speculative transactions.

The following sections provide details regarding the Group's exposure to the abovementioned financial risks and the objectives, policies and processes for the management of these risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Credit
 risk

Credit risk is the risk of a financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group's exposure to credit risk arises principally from trade and other receivables and deposits with banks. There are no significant changes as compared to prior year.

The Group has adopted a policy of only dealing with creditworthy counterparties. Management has a credit policy in place to control credit risk by dealing with creditworthy counterparties and deposits with banks with good credit rating. The exposure to credit risk is monitored on an ongoing basis and action will be taken for long outstanding debts.

At each reporting date, the Group assesses whether any of the receivables are credit impaired.

The gross carrying amounts of credit impaired receivables are written off (either partial or in full) when there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. Nevertheless, receivables that are written off could still be subject to enforcement activities.

The carrying amounts of the financial assets recorded on the consolidated statement of financial position at the end of the reporting period represents the Group's maximum exposure to credit risk.

The Group's credit exposures are concentrated mainly on 3 (August 31, 2025: 2) debtors, which accounted for 85% (August 31, 2025: 99%) of total trade receivables at the end of the reporting period.

22. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial risk
management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liquidity
 risk

Liquidity risk refers to the risk that the Group will encounter difficulty in meeting its financial obligations as they fall due. The Group's exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities.

The Group's funding requirements and liquidity risk are managed with the objective of meeting business obligations on a timely basis. The Group finances its liquidity through internally generated cash flows and minimizes liquidity risk by keeping committed credit lines available.

The following table analyses the remaining contractual maturity for financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.

---

| | | | |
|:---|:---|:---|:---|
|  | **On demand**<br>**or within 1**<br>**year**<br>**USD** | **Total**<br>**contractual**<br>**cash flows**<br>**USD** | **Total**<br>**carrying**<br>**amount**<br>**USD** |
| **Unaudited** |  |  |  |
| **February 28, 2026** |  |  |  |
| **Non-derivative financial liabilities** |  |  |  |
| Trade payables | 235013 | 235013 | 235013 |
| Other payables | 777992 | 777992 | 777992 |
| Amount due to Directors | 252816 | 252816 | 252816 |
| Lease liabilities | 2082 | 2082 | 2070 |
| Borrowings | 57336 | 80338 | 68309 |
|  | 1325239 | 1348241 | 1336200 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **On demand**<br>**or within 1**<br>**year**<br>**USD** | **Total**<br>**contractual**<br>**cash flows**<br>**USD** | **Total**<br>**carrying**<br>**amount**<br>**USD** |
| **Audited** |  |  |  |
| **August 31, 2025** |  |  |  |
| **Non-derivative financial liabilities** |  |  |  |
| Trade payables | 232794 | 232794 | 232794 |
| Other payables | 19599 | 19599 | 19599 |
| Amount due to Directors | 91957 | 91957 | 91957 |
| Lease liabilities | 13413 | 13413 | 13113 |
| Bank borrowings | 55708 | 82879 | 68968 |
|  | 413471 | 440642 | 426431 |

---

22. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Market
 risks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Foreign
 currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.

The Group is not exposed to foreign currency risk during the financial period/year February 28, 2026 and August 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest rate risk

The Group's variable rate borrowings are exposed to a risk of change in cash flows due to changes in interest rates.

The Group manages its interest rate risk exposure from interest bearing borrowings by obtaining financing with the most favorable interest rates in the market. The Group constantly monitors its interest rate risk by reviewing its debts portfolio to ensure favorable rates are obtained.

The interest rate profile of the Group's significant interest-bearing financial instruments, based on carrying amounts at the end of the reporting period was:

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| **Fixed rate instruments:** |  |  |
| **Financial asset** | - | - |
| **Financial liability** |  |  |
| Lease liabilities | 2070 | 13113 |
| **Floating rate instruments:** |  |  |
| **Financial liabilities** |  |  |
| Borrowings | 68309 | 68968 |
|  | 68309 | 68968 |
| **Interest rate risk sensitivity** | 683 | 690 |

---

22. **Financial Instruments (Cont'd)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial
 risk management objectives and policies (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Market risks (Cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest
 rate risk (Cont'd)

**Interest rate risk sensitivity analysis**

Any reasonably possible change in the interest rates of floating rate term loans at the end of the reporting period does not have a material impact on the profit after taxation and other comprehensive income of the Group and hence, no sensitivity analysis is presented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Fair
 value of financial instruments

The carrying amounts of short-term receivables and payables, cash and cash equivalents and short-term borrowings approximate their fair value due to the relatively short-term nature of these financial instruments and insignificant impact of discounting.

The carrying amount of long-term floating rate borrowings approximate their fair value as the borrowings will be re-priced to market interest rate on or near reporting date.

As the financial assets and financial liabilities of the Group are not carried at fair value by any valuation method, therefore the fair value hierarchy analysis is not presented.

23. **Capital Management** 

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern in order to provide returns for shareholder and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholder, return capital to shareholder, issue new shares or sell assets to reduce debt.

The Group monitors capital using a gearing ratio, which is net debt divided by total equity. The Group includes within net debt, lease liabilities and term loans less cash and cash equivalents. The Group's policy is to maintain a prudent level of gearing ratio that complies with debt covenants. The gearing ratios at the end of the reporting period are as follows:

---

| | | |
|:---|:---|:---|
|  | **Unaudited**<br>**February 28, 2026**<br>**USD** | **Audited**<br>**August 31, 2025**<br>**USD** |
| Lease liabilities | 2070 | 13113 |
| Borrowings | 68309 | 68968 |
|  | 70379 | 82081 |
| Less: Cash and cash equivalents | (207039) | (475280) |
| Net (cash)/debt | (136660) | (393199) |
| Total equity | 1710630 | 717213 |
| Gearing ratio (times) | -0.08 | -0.55 |

---

There was no change in the Group's approach to capital management during the financial year.

24. **Significant Events** 

During the financial period, on October 10, 2025, the Company issued an aggregate of 1,499 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares to an existing shareholder of the Company.

On December 3, 2025, the Company issued a total of 22,998,500 Class A Ordinary Shares to the existing shareholder of the Company to perfect the Company's capital structure in anticipation of the expected initial public offering of its Class A Ordinary Shares, and the concurrent listing of its Class A Ordinary Shares on the Nasdaq Stock Market LLC.

24. **Significant Events (Cont'd)** 

The acquisitions of 3Knights Dynamics Sdn. Bhd. have been accounted for as common control transactions using an approach similar to the pooling of interests method, as the combining entities were under common control of the same ultimate shareholders before and after the acquisitions.

Accordingly, the audited combined financial statements for the financial years ended August 31, 2025 have been prepared and comprise of the financial statements of the combining entities which were under common control as if the current group structure had been in place since the beginning of the earliest period presented. The results and financial position of the combining entities have been aggregated from the date they first came under the control of the controlling party.

25. **Subsequent Event** 

The Company evaluated all events and transactions that occurred after February 28, 2026, up through May 18, 2026, the date that these consolidated financial statements are available to be issued, unless as disclosed elsewhere and below, there are not any material subsequent events that require disclosure in these consolidated financial statements.

**Until and including [\*], 2026 (twenty-five (25) days after the date of this prospectus), all dealers that buy, sell or trade our Class A Ordinary Shares, whether or not participating in this Offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

**5,000,000**

**Class A Ordinary Shares**

**3Knights Dynamics Group Limited**

**PROSPECTUS**

**[\*],** **2026**

**Part II — Information Not Required in the Prospectus**

**Item 6. Indemnification of Directors and Officers.**

Cayman Islands law does not limit the extent to which a company's articles of association may provide indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to the public interest, such as providing indemnification against willful default, fraud or the consequences or dishonesty. Our articles of association provide that, to the extent permitted by law, we shall indemnify each existing or former director (including alternate director), secretary and other officer of the Company (including an investment adviser or an administrator or liquidator) and their personal representatives against:

&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or
 sustained by the existing or former director (including alternate director), secretary or
 officer in or about the conduct of our Company's business or affairs or in the execution
 or discharge of the existing or former director's (including alternate director's), secretary's
 or officer's duties, powers, authorities or discretions; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 limitation to paragraph (a), all costs, expenses, losses or liabilities incurred by the existing
 or former director (including alternate director), secretary or officer in defending (whether
 successfully or otherwise) any civil, criminal, administrative or investigative proceedings
 (whether threatened, pending or completed) concerning our Company or our affairs in any court
 or tribunal, whether in the Cayman Islands or elsewhere.

To the extent permitted by the Companies Act, the Company may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or officer of our Company in respect of any matter identified in the articles of association on condition that the director (including alternate director), secretary or officer must repay the amount paid by our Company to the extent that we are ultimately found not liable to indemnify the director (including alternate director), secretary or that officer for those legal costs.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Recent Sales of Unregistered Securities.**

Set forth below is information regarding ordinary shares issued by us during the last three years. None of the below described transactions involved any underwriters, underwriting discounts or commissions, or any public offering.

● On October 8, 2025, the Company allotted and issued 1 Class A Ordinary Share to Ogier Global Subscriber (Cayman) Limited.

● On October 10, 2025, the Company allotted and issued 1,499 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares to WLG HOLDINGS SDN. BHD.

● As part of the Reorganization, on December 19, 2025, the Company allotted and issued 22,998,500 Class A Ordinary Shares to WLG HOLDINGS SDN. BHD., for the acquisition of the entire share capital of 3 Knights. On April 24, 2026, 5,000,000 and 2,200,000 Class A Ordinary Shares were transferred from the Controlling Shareholder to Minvescient Sdn. Bhd. and Maxvard Dynamic Sdn. Bhd., respectively.

We believe that the offers, sales and issuances of the securities described in the preceding paragraph were exempt from registration either (a) under Section 4(a)(2) of the Securities Act and the rules and regulations promulgated thereunder, in that the transactions were between an issuer and sophisticated investors or members of its senior executive management and did not involve any public offering within the meaning of Section 4(a)(2), (b) under Regulation S promulgated under the Securities Act in that offers, sales and issuances were not made to persons in the United States and no directed selling efforts were made in the United States, or (c) under Rule 701 promulgated under the Securities Act in that the transactions were underwritten compensatory benefit plans or written compensatory contracts.

**Item 8. Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 following documents are filed as part of this registration statement:

---

| | |
|:---|:---|
| 1.1\*\* | [Form of Underwriting Agreement](ex1-1.htm) |
| 3.1\*\* | [Memorandum and Articles of Association of the Company](ex3-1.htm) |
| 4.1\* | [Specimen Share Certificate](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex4-1.htm) |
| 4.2\* | [Form of Representative's Warrants (included in Exhibit 1.1)](ex1-1.htm) |
| 5.1\* | [Opinion of Ogier as to the validity of the Class A ordinary shares](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-1.htm) |
| 5.2\* | [Opinion of Loeb & Loeb LLP regarding the enforceability of the Representative's Warrants](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-2.htm) |
| 5.3\* | [Opinion of Cheah Teh Su regarding certain Malaysian legal matters](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-3.htm) |
| 10.1\* | [Form of Employment Agreement between the Company and its executive officers](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex10-1.htm) |
| 10.2\* | [Form of Independent Director Offer Letter between the Registrant and its independent directors](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex10-2.htm) |
| 10.3\* | [Form of Indemnification Agreement](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex10-3.htm) |
| 10.4\*\* | [Tenancy agreement entered between 3 Knights and Hello Property (M) Sdn Bhd dated April 22, 2026 in relation to Unit 19-2, The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia, with a gross floor area of approximately 2,024 sq. ft](ex10-4.htm) |
| 10.5\*\* | [Loan agreement entered between 3 Knights and Peoplender Sdn Bhd dated June 10, 2025](ex10-5.htm) |
| 10.6\*\* | [Loan agreement entered between 3 Knights and Modalku Ventures Sdn Bhd dated June 17, 2025](ex10-6.htm) |
| 14.1\* | [Code of Business Conduct and Ethics](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex14-1.htm) |
| 21.1\* | [List of Subsidiary(ies)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex21-1.htm) |
| 23.1\* | [Consent of Ogier (included in Exhibit 5.1)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-1.htm) |
| 23.2\* | [Consent of Loeb & Loeb LLP (included in Exhibit 5.2)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-2.htm) |
| 23.2\* | [Consent of Cheah Teh Su (included in Exhibit 5.3)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex5-3.htm) |
| 23.3\*\* | [Consent of WS & CO PLT](ex23-3.htm) |
| 24.1\* | [Power of Attorney (included on signature page to the registration statement)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/formf-1.htm#SL_001) |
| 99.1\* | [Charter of the Audit Committee](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-1.htm) |
| 99.2\* | [Charter of the Compensation Committee](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-2.htm) |
| 99.3\* | [Charter of the Nominating and Corporate Governance Committee](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-3.htm) |
| 99.4\* | [Consent of Brinda Umesh Patel (Independent Director Nominee)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-4.htm) |
| 99.5\* | [Consent of Lim Guan Hong (Independent Director Nominee)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-5.htm) |
| 99.6\* | [Consent of Marcel Budiono (Independent Director Nominee)](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-6.htm) |
| 99.7\* | [Insider trading policy](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-7.htm) |
| 99.8\* | [Clawback policy](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex99-8.htm) |
| 107\* | [Filing Fee Table](https://www.sec.gov/Archives/edgar/data/2092287/000149315226024328/ex107.htm) |

---

\*\* Filed herewith

\* Previously filed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Statement Schedules

None.

**Item 9. Undertakings**

The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 provide to the Underwriters at the closing specified in the underwriting agreements, certificates in such denominations and registered
 in such names as required by the Underwriters to permit prompt delivery to each purchaser;

(b) insofar
 as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
 persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
 of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
 unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of
 expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action,
 suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
 the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
 of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and
 will be governed by the final adjudication of such issue;

(c) for
 purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
 as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant
 to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time
 it was declared effective; and

(d) for
 the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of
 prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
 securities at that time shall be deemed to be the initial bona fide offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Malaysia, on June 22, 2026.

---

| | |
|:---|:---|
| **3Knights Dynamics Group Limited** | **3Knights Dynamics Group Limited** |
| By: | */s/ Chu Hoon Weng* |
| Name: | Chu Hoon Weng |
| Title: | Chief Executive Officer and Director |

---

**POWER OF ATTORNEY**

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Chu Hoon Weng, his or her true and lawful agent, proxy and attorney-in-fact, with full power of substitution, for and in his or her name, place and stead, in any and all capacities, to (1) act on, sign and file with the Securities and Exchange Commission any and all amendments (including post-effective amendments) to this Registration Statement together with all schedules and exhibits thereto and any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, together with all schedules and exhibits thereto, (2) act on, sign and file such certificates, instruments, agreements and other documents as may be necessary or appropriate in connection therewith, (3) act on and file any supplement to any prospectus included in this Registration Statement or any such amendment or any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and (4) take any and all actions which may be necessary or appropriate to be done, as fully for all intents and purposes as he or she might or could do in person, hereby approving, ratifying and confirming all that such agent, proxy and attorney-in-fact or any of his or her substitutes may lawfully do or cause to be done by virtue thereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
| */s/ Chu Hoon Weng* | Chief Executive Officer | June 22, 2026 |
| Chu Hoon Weng | (Principal executive officer) and Director |  |
| */s/ Chen Xiang Foong* | Chief Financial Officer | June 22, 2026 |
| Chen Xiang Foong | (Principal financial and accounting officer) |  |
| */s/ Lim Seow Leong* | Director and Chief Technology Officer | June 22, 2026 |
| Lim Seow Leong |  |  |

---

**Authorized U.S. Representative**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of 3Knights Dynamics Group Limited, has signed this registration statement in New York, on June 22, 2026.

---

| | |
|:---|:---|
| **Authorized U.S. Representative Cogency Global Inc.** | **Authorized U.S. Representative Cogency Global Inc.** |
| By: | */s/ Colleen A. De Vries* |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice-President on behalf of Cogency Global Inc. |

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## Exhibit 1.1

**Exhibit 1.1**

**3Knights Dynamics Group Limited**

**UNDERWRITING AGREEMENT**

[\*], 2026

**Network 1 Financial Securities, Inc.**

The Galleria, 2 Bridge Avenue, Suite 241

Red Bank, NJ 07701

*As Representative of the Underwriters*

*named on <u>Schedule A</u> hereto*

Ladies and Gentlemen:

The undersigned, 3Knights Dynamics Group Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands (the "**Company**"), hereby confirms its agreement (this "**Agreement**") with the several underwriters named on <u>Schedule A</u> hereto (collectively the "**Underwriters**," and each, an "**Underwriter**"), for which **Network 1 Financial Securities**, Inc. is acting as the lead or managing underwriter and representative (in such capacity, the "**Representative**"), to issue and sell an aggregate of 5,000,000 Class A ordinary shares (the "**Firm Shares**") of the Company, par value $0.001 per share (the "**Class A Ordinary Shares**"). The Company has also granted to the Representative an option to purchase up to 750,000 additional Class A Ordinary Shares, representing fifteen percent (15%) of the Firm Shares, on the terms and for the purposes set forth in <u>Section 2(c)</u> hereof (the "**Additional Shares**"). The Firm Shares and any Additional Shares purchased pursuant to this Agreement are herein collectively referred to as the "**Offered Securities**." The offering and sale of the Offered Securities contemplated by this Agreement is referred to herein as the "**Offering**."

The Company confirms its agreement with the Underwriters as follows:

SECTION 1. *Representations and Warranties of the Company.*

 

The Company represents and warrants to the Underwriters as follows with the understanding that the same may be relied upon by the Underwriters in the Offering, as of the date hereof and as of the Closing Date (as defined below) and each Option Closing Date (as defined below), if any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Filing of the Registration Statement*. The Company has prepared and filed with the U.S. Securities and Exchange Commission (the "**Commission**") a registration statement on Form F-1 (File No. 333-[\*]), which contains a form of prospectus to be used in connection with the Offering. Such registration statement, as amended, including the financial statements, exhibits and schedules thereto contained in the registration statement at the time such registration statement became effective, in the form in which it was declared effective by the Commission under the Securities Act of 1933, as amended (collectively, the "**Securities Act**"), and the rules and regulations promulgated thereunder (the "**Securities Act Regulations**"), and including any required information deemed to be a part thereof at the time of effectiveness pursuant to Rule 430A under the Securities Act, or pursuant to the Securities Exchange Act of 1934, as amended (the "**Exchange Act**") and the rules and regulations promulgated thereunder (the "**Exchange Act Regulations**"), is called the "**Registration Statement**." Any registration statement filed by the Company pursuant to Rule 462(b) under the Securities Act is called the "**Rule 462(b) Registration Statement**," and from and after the date and time of filing of the Rule 462(b) Registration Statement, the term "**Registration Statement**" shall include the Rule 462(b) Registration Statement. Such prospectus, in the form first filed pursuant to Rule 424(b) under the Securities Act after the date and time that this Agreement is executed and delivered by the parties hereto, or, if no filing pursuant to Rule 424(b) under the Securities Act is required, the form of final prospectus relating to the Offering included in the Registration Statement at the effective date of the Registration Statement, is called the "**Prospectus**." All references in this Agreement to the Registration Statement, the preliminary prospectus included in the Registration Statement (each, a "**preliminary prospectus**"), the Prospectus, or any amendments or supplements to any of the foregoing, shall include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval System ("**EDGAR**"). The preliminary prospectus that was included in the Registration Statement immediately prior to the Applicable Time (as defined below) is hereinafter called the "**Pricing Prospectus**." Any reference to the "most recent preliminary prospectus" shall be deemed to refer to the latest preliminary prospectus included in the registration statement. Any reference herein to any preliminary prospectus, the Prospectus, or any supplement or amendment to either thereof shall be deemed to refer to and include any documents incorporated by reference therein as of the date of such reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Applicable Time**" means [5:00] pm, Eastern Time, on the date of this Agreement or such other time as agreed to in writing by the Company and the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Compliance with Registration Requirements*. The Registration Statement has been declared effective by the Commission under the Securities Act and the Securities Act Regulations on [\*], 2026. The Company has complied, to the Commission's satisfaction, with all requests of the Commission for additional or supplemental information. No stop order preventing or suspending the effectiveness of the Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to the best knowledge of the Company, are contemplated or threatened by the Commission.

Each preliminary prospectus and the Prospectus when filed complied or will comply in all material respects with the Securities Act and, if filed by electronic transmission pursuant to EDGAR (except as may be permitted by Regulation S-T under the Securities Act), was identical in content to the copy thereof delivered to the Underwriters for use in connection with the Offering, other than with respect to any artwork and graphics that were not filed. The Registration Statement and any post-effective amendment to the Registration Statement, at the time it became effective and at all subsequent times until the expiration of the prospectus delivery period required under Section 4(3) of the Securities Act, complied and will comply in all material respects with the Securities Act and the Securities Act Regulations and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as amended or supplemented, as of its date and at all subsequent times until the Underwriters have completed the Offering, did not and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement or any post-effective amendment to the Registration Statement, or in the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, made in reliance upon and in conformity with information relating to the Underwriters furnished to the Company in writing expressly for use therein, it being understood and agreed that the only such information furnished on behalf of any of the Underwriters consists of (i) the names of the Underwriters contained on the cover page of the Registration Statement, the Pricing Prospectus and Prospectus and (ii) the sub-sections titled "Electronic Offer, Sale, and Distribution," "Stabilization," and "Relationships" in each case under the caption "Underwriting" in the Registration Statement, the Pricing Prospectus and the Prospectus (the "**Underwriter Information**"). There are no contracts or other documents required to be described in the Registration Statement, the Pricing Prospectus or the Prospectus or to be filed as exhibits to the Registration Statement that have not been fairly and accurately described in all material respects or filed as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Disclosure Package*. The term "**Disclosure Package**" shall mean (i) the Pricing Prospectus, as amended or supplemented, (ii) each issuer free writing prospectus, as defined in Rule 433 under the Securities Act (each, an "**Issuer Free Writing Prospectus**"), if any, identified on <u>Schedule B</u> hereto, (iii) the pricing terms set forth on <u>Schedule C</u> to this Agreement, and (iv) any other free writing prospectus that the parties hereto shall hereafter expressly agree in writing to treat as part of the Disclosure Package. As of the Applicable Time, the Disclosure Package did not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from the Disclosure Package based upon and in conformity with the Underwriter Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Company Not Ineligible Issuer*. (i) At the time of filing the Registration Statement and (ii) as of the date of the execution and delivery of this Agreement, the Company was not and is not an Ineligible Issuer (as defined in Rule 405 under the Securities Act), without taking account of any determination by the Commission pursuant to Rule 405 under the Securities Act that it is not necessary that the Company be considered an Ineligible Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Issuer Free Writing Prospectuses*. No Issuer Free Writing Prospectus includes any information that conflicts with the information contained in the Registration Statement, including any document incorporated by reference therein that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with the Underwriter Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Offering Materials Furnished to the Underwriters*. The Company has delivered to the Underwriters copies of the Registration Statement and of each consent and certificate of experts filed as a part thereof, and each preliminary prospectus and the Prospectus, as amended or supplemented, in such quantities and at such places as the Underwriters have reasonably requested in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *Distribution of Offering Material by the Company*. The Company has not distributed or authorized the distribution of, and will not distribute, prior to the completion of the Offering, any offering material in connection with the Offering other than a preliminary prospectus, the Pricing Prospectus, the Prospectus, any Issuer Free Writing Prospectus reviewed and consented to by the Underwriters, and the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Underwriting Agreement*. This Agreement has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company, enforceable in accordance with its terms, except as rights to indemnification hereunder may be limited by applicable law and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) *Authorization of the Offered Securities*. The Offered Securities to be sold by the Company through the Underwriters have been duly and validly authorized by all required corporate action and have been reserved for issuance and sale pursuant to this Agreement and, when so issued and delivered by the Company, will be validly issued, fully paid and non-assessable, free and clear of all liens imposed by the Company. The Company has sufficient authorized and unissued Class A Ordinary Shares for the issuance of the maximum number of Offered Securities issuable pursuant to the Offering as described in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) *No Applicable Registration or Other Similar Rights*. Except as otherwise disclosed in the Registration Statement, there are no persons with registration or other similar rights to have any securities of the Company registered for sale under the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) *No Material Adverse Change.* Except as otherwise disclosed in the Disclosure Package, subsequent to the respective dates as of which information is given in the Disclosure Package: (i) there has been no material adverse change, or any development that could reasonably be expected to result in a material adverse change, in the condition, financial or otherwise, or in the earnings, business, prospects or operations, whether or not arising from transactions in the ordinary course of business, of the Company (any such change, a "**Material Adverse Change**", and any resulting effect, a "**Material Adverse Effect**"); (ii) the Company has not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor entered into any material transaction or agreement not in the ordinary course of business; and (iii) there has been no dividend or distribution of any kind declared, paid or made by the Company in respect of its share capital.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) *Independent Accountant*. WS & CO PLT (the "**Accountant**"), which has expressed its opinion with respect to the audited financial statements (which term as used in this Agreement includes the related notes thereto) of the Company filed with the Commission as a part of the Registration Statement and included in the Disclosure Package and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) *Preparation of the Financial Statements*. The financial statements of the Company, included in the Registration Statement, the Disclosure Package, and the Prospectus, present fairly the information provided as of and at the dates and for the periods indicated. Such financial statements comply as to form with the applicable accounting requirements of the Securities Act and the Securities Act Regulations and have been prepared in conformity with International Financial Reporting Standards ("**IFRSs**") issued by the International Accounting Standards Board and applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto. No other financial statements or supporting schedules are required to be included or incorporated by reference in the Registration Statement, the Disclosure Package or the Prospectus. Each item of historical financial data relating to the operations, assets or liabilities of the Company set forth in summary form in each of the preliminary prospectuses and the Prospectus fairly presents such information on a basis consistent with that of the complete financial statements contained therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) *Incorporation and Good Standing*. The Company has been duly incorporated and is validly existing and in good standing as a company under the laws of the jurisdiction of its incorporation and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the Disclosure Package, and the Prospectus and to enter into and perform its obligations under this Agreement. As of the Closing Date, the Company does not own or control, directly or indirectly, any corporation, association or other entity that is not otherwise disclosed in the Registration Statement, the Disclosure Package, or the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) *Capitalization and Other Share Matters*. The authorized, issued and outstanding shares of the Company is as set forth in each of the Disclosure Package and the Prospectus (other than for subsequent issuances, if any, pursuant to employee benefit plans described in each of the Disclosure Package and the Prospectus or upon exercise of outstanding options or warrants described in the Disclosure Package and Prospectus, as the case may be). The Class A Ordinary Shares conform, and, when issued and delivered as provided in this Agreement, the Offered Securities will conform, in all material respects to the description thereof contained in each of the Disclosure Package and Prospectus. All of the issued and outstanding Class A Ordinary Shares and Class B Ordinary Shares have been duly authorized and validly issued, are fully paid and non-assessable and have been issued in compliance with applicable laws. None of the outstanding Class A Ordinary Shares and Class B Ordinary Shares were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase securities of the Company. The Depository Trust Company (the "**DTC**") has authorized the Class A Ordinary Shares for delivery through its full fast transfer facilities. There are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for, any shares of the Company other than those described in the Disclosure Package and the Prospectus. The description of the Company's stock option and other stock plans or arrangements, and the options or other rights granted thereunder, set forth in the Disclosure Package and the Prospectus accurately and fairly presents the information required to be shown with respect to such plans, arrangements, options and rights. No further approval from the Nasdaq Capital Market ("**Nasdaq**") or authorization of any regulatory authority or governmental body, shareholder, the Company's board of directors or others is required for the issuance and sale of the Offered Securities. Except as set forth in the Registration Statement, the Disclosure Package and the Prospectus, there are no shareholders agreements, voting agreements or other similar agreements with respect to the Company's Class A Ordinary Shares or Class B Ordinary Shares to which the Company is a party or, to the knowledge of the Company, between or among any of the Company's shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) *Non-Contravention of Existing Instruments, No Further Authorizations or Approvals Required*. The Company is not in violation of its memorandum and articles of association, as amended, or in default (or, with the giving of notice or lapse of time, would be in default) ("**Default**") under any indenture, mortgage, loan or credit agreement, note, contract, franchise, lease or other instrument to which it is a party or by which it may be bound (including, without limitation, any agreement or contract filed as an exhibit to the Registration Statement or to which any of the property or assets of the Company are subject (each, an "**Existing Instrument**")), except for such Defaults as would not, individually or in the aggregate, result in a Material Adverse Change. The Company's execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Disclosure Package and the Prospectus (i) have been duly authorized by all necessary corporate action and will not result in any violation of the provisions of the memorandum and articles of association of the Company, as amended, (ii) will not conflict with or constitute a breach of, or Default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to, or require the consent of any other party to, any Existing Instrument and (iii) will not result in any violation of any law, administrative regulation or administrative or court decree applicable to the Company, except in the case of each of clauses (ii) and (iii), to the extent such conflict, breach Default or violation could not reasonably be expected to result in a Material Adverse Effect. No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency, is required for the Company's execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Disclosure Package and the Prospectus, except for the registration or qualification of the Offered Securities under the Securities Act and applicable state securities or blue sky laws and from the Financial Industry Regulatory Authority ("**FINRA**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) *Subsidiaries*. Each of the Company's direct and indirect subsidiaries (each a "**Subsidiary**" and collectively, the "**Subsidiaries**") has been identified on <u>Schedule E</u> hereto. Each of the Subsidiaries has been duly formed, is validly existing under the laws of the jurisdiction of its formation, and in good standing under the laws of the jurisdiction of its incorporation, has full power and authority (corporate or otherwise) and all consents, approvals, authorizations, permits, licenses, orders, registrations, clearances and qualifications of or with any governmental or regulatory agency, authority, body, entity or court, domestic or foreign having jurisdiction over the Subsidiaries to own its property and to conduct its business as described in the Registration Statement, the Disclosure Package, the Prospectus, and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not result in a Material Adverse Change on the Company and its Subsidiaries, taken as a whole. All of the equity interests of each Subsidiary have been duly and validly authorized and issued, are owned directly or indirectly by the Company, are fully paid in accordance with its memorandum and articles of association or charter documents and non-assessable and are free and clear of all liens, encumbrances, equities or claims. None of the outstanding share capital or equity interest in any Subsidiary issued in violation of preemptive or similar rights of any security holder of such Subsidiary. All of the constitutive, charter, or organizational documents of each of the Subsidiaries comply with the requirements of applicable laws of its jurisdiction of incorporation or organization and are in full force and effect. Apart from the Subsidiaries, the Company has no direct or indirect subsidiaries or any other company over which it has direct or indirect effective control. Other than the Subsidiaries, the Company does not directly or indirectly control any entity through contractual arrangements or otherwise such that the entity would be deemed a consolidated affiliated entity whose financial results would be consolidated under IFRSs with the financial results of the Company on the consolidated financial statements of the Company, regardless of whether the Company directly or indirectly owns less than a majority of the equity interests of such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) *No Material Actions or Proceedings*. There are no legal, governmental or regulatory investigations, actions, demands, claims, suits, arbitrations, inquiries or proceedings (collectively, "**Actions**") pending or, to the Company's knowledge, (i) threatened against the Company or any Subsidiaries, or (ii) have as the subject thereof any of the executive officers, directors, or key employees of the Company or any of its Subsidiaries or any of the properties owned or leased by the Company or any Subsidiaries, where in any such case (A) there is a reasonable possibility that such Action might be determined adversely to the Company or any Subsidiary, and (B) any such Action, if so determined adversely, would reasonably be expected to result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement. No material labor dispute with the employees of the Company or any Subsidiary exists or, to the Company's knowledge, is threatened or imminent. None of the Company's or its Subsidiaries' employees is a member of a union that relates to such employee's relationship with the Company or such Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships with their employees are good. No executive officer of the Company, to the knowledge of the Company, is in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all applicable laws and regulations, except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. Neither the Company nor any Subsidiaries, or to the knowledge of the Company, any director or officer of the Company, is or has within the last ten years been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is no pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) *Intellectual Property Rights*. Each of the Company and the Subsidiaries owns, possesses or has obtained valid and legally enforceable licenses for, and otherwise has legally enforceable rights to use all patents, patent applications, trademarks, trade names, copyrights, domain names, licenses, approvals and trade secrets (collectively, "**Intellectual Property Rights**") reasonably necessary to conduct its business as now conducted or, otherwise, as disclosed in the Registration Statement, the Disclosure Package and the Prospectus, except to the extent such failure to own, possess or have other rights to use such Intellectual Property would not be expected to result in a Material Adverse Change. Neither the Company nor any Subsidiaries has received any written notice of infringement or conflict with asserted Intellectual Property Rights of others. The Company and its Subsidiaries are not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property Rights of any other person or entity that are required to be set forth in the Registration Statement, Disclosure Package and the Prospectus and are not described in all material respects. None of the technology employed by the Company or its Subsidiaries has been obtained or is being used by the Company or its Subsidiaries in violation of any contractual obligation binding on the Company or its Subsidiaries, to the Company's knowledge, in violation of the rights of any persons. Neither the Company nor its Subsidiaries is subject to any judgment, order, writ, injunction or decree of any court or any governmental department, commission, board, bureau, agency or instrumentality, or any arbitrator, nor has it entered into nor is it a party to any agreement made in settlement of any pending or threatened litigation, which materially restricts or impairs its use of any Intellectual Property Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) *All Necessary Permits, etc*. Each of the Company and the Subsidiaries possess such valid and current certificates, authorizations or permits issued by the applicable regulatory agencies or bodies necessary to conduct their respective business, and has made all declarations and filings with, the appropriate national, regional, local or other governmental or regulatory authorities that are necessary for the ownership or lease of their respective properties or assets or the conduct of their respective businesses as described in the Registration Statement, the Disclosure Package and the Prospectus, except where any lack of the licenses would not reasonably be expected to have, individually or in aggregate, a Material Adverse Effect, and has not received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such licenses and, to the knowledge of the Company, the Company has no reason to believe that such licenses will not be renewed in the ordinary course of business that, if determined adversely to the Company, would individually or in the aggregate have a Material Adverse Effect. Such licenses are valid and in full force and effect and contain no materially burdensome restrictions or conditions not described in the Registration Statement, the Disclosure Package or the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) *Title to Properties*. Except as otherwise disclosed in the Registration Statement, Disclosure Package and the Prospectus, the Company and the Subsidiaries have good and marketable title to all the properties and assets reflected as owned by it in the financial statements referred to in <u>Section 1(n)</u> above (or elsewhere in the Registration Statement, Disclosure Package and the Prospectus), in each case free and clear of any security interest, mortgage, lien, encumbrance, equity, adverse claim or other defect, except such as do not materially and adversely affect the value of such property and do not materially interfere with the use made or proposed to be made of such property by the Company. The real property, improvements, equipment, and personal property held under lease by the Company and the Subsidiaries are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company and the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) *Tax Law Compliance*. (i) The Company and the Subsidiaries have each filed all necessary income tax returns required to be filed as of the date of this Agreement or have timely and properly filed requested extensions thereof and have paid all taxes required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of them in all material respects. (ii) No tax deficiency has been determined adversely to the Company or any of its Subsidiaries that has had (nor does the Company nor any of its Subsidiaries have any notice or knowledge of any tax deficiency which could reasonably be expected to be determined adversely to the Company or its Subsidiaries and which could reasonably be expected to have) a Material Adverse Effect. (iii) The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in <u>Section 1(n)</u> above in respect of all federal, state, and foreign income and franchise taxes for all periods as to which the tax liability of the Company has not been finally determined. (iv) All local and national governmental tax credit, exemptions, waivers, financial subsidies, and other local and national tax relief, concessions and preferential treatment enjoyed by the Company or any of the Subsidiaries as disclosed in the Registration Statement, the Disclosure Package and the Prospectus are valid, binding and enforceable and do not violate any laws, regulations, rules, orders, decrees, guidelines, judicial interpretations, notices or other legislation of the applicable jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) *Company Not an "Investment Company."* The Company is not, and after giving effect to payment for the Offered Securities and the application of the proceeds as contemplated under the caption "Use of Proceeds" in each of the Disclosure Package and the Prospectus will not be, required to register as an "investment company" within the meaning of the Investment Company Act of 1940, as amended (the "**Investment Company Act**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) *Insurance.* The Company maintains director and officer liability insurance in the amount of $[\*]. Neither the Company nor any of its Subsidiaries maintain any other insurance coverage as described in each of the Registration Statement, the Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) *No Price Stabilization or Manipulation*. The Company has not taken and will not take, directly or indirectly, any action designed to, or that might be reasonably expected to cause or result in, stabilization or manipulation of the price of any securities of the Company to facilitate the sale or resale of the Offered Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) *Related Party Transactions*. There are no business relationships or related-party transactions, directly or indirectly, involving the Company or its Subsidiaries with any related person required to be described or filed in the Registration Statement, or described in the Disclosure Package or the Prospectus, that have not been described or filed as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) *Disclosure Controls and Procedures*. The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) of the Exchange Act Regulations) designed to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized, and reported, within the time periods specified in the Commission's rules and forms. The Company is not aware of (a) any significant deficiency in the design or operation of internal controls which could adversely affect the Company's ability to record, process, summarize and report financial data or any material weaknesses in internal controls or (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company's internal controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) *Company's Accounting System*. The Company has established and maintains a system of accounting controls designed to provide reasonable assurances that (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with IFRSs and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) *Money Laundering Law Compliance*. The operations of the Company and any Subsidiaries are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the United States Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and any Subsidiaries conduct business, and the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any competent governmental agency (collectively, the "**Anti-Money Laundering Laws**"), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company and any Subsidiaries with respect to any Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) *No Accounting Issues*. The Company has not received any notice, oral or written, from its board of directors or audit committee stating that it is reviewing or investigating, and neither the Company's independent auditors nor its internal auditors have recommended that the Company's board of directors or audit committee review or investigate, (i) adding to, deleting, changing the application of, or changing the Company's disclosure with respect to, any of the Company's material accounting policies; (ii) any matter which could result in a restatement of the Company's financial statements for any annual or interim period during the current or prior two fiscal years; or (iii) any Internal Control (as defined below) event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) *OFAC*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Neither the Company and its Subsidiaries nor, to the knowledge of the Company, any director, officer or employee of the Company and its Subsidiary, or any other person authorized to act on behalf of the Company or its Subsidiaries, is an individual or entity ("**Person**") that is, or is owned or controlled by a Person that is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. the subject of any sanctions administered or enforced by the U.S. Department of Treasury's Office of Foreign Assets Control ("**OFAC**"), the United Nations Security Council ("**UNSC**"), the European Union ("**EU**"), His Majesty's Treasury ("**HMT**"), or other relevant sanctions authority (collectively, "**Sanctions**"), nor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Burma/Myanmar, Russia, Cuba, Iran, Libya, North Korea, Sudan and Syria).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company will not, directly or indirectly, use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the Offering, whether as underwriter, advisor, investor or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) *Foreign Corrupt Practices Act.* Neither the Company and its Subsidiaries, nor, to the knowledge of the Company, any director, officer or employee or affiliate of the Company and its Subsidiaries, any Subsidiary or any other person acting on behalf of the Company, has, directly or indirectly, taken any action that (i) would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the "**FCPA**") or otherwise subject the Company to any damage or penalty in any civil, criminal or governmental litigation or proceeding; (ii) if done in the past, might reasonably be expected to have a Material Adverse Effect or (iii) if continued in the future, might reasonably be expected to materially and adversely affect the assets, business, or operations of the Company. The foregoing includes, without limitation, giving or agreeing to give any money, gift or similar benefit (other than legal price concessions to customers in the ordinary course of business) to any customer, supplier, employee or agent of a customer or supplier, or official or employee of any governmental agency or instrumentality of any government (domestic or foreign) or any political party or candidate for office (domestic or foreign) or other person who was, is, or may be in a position to help or hinder the business of the Company (or assist it in connection with any actual or proposed transaction) that might subject the Company to any damage or penalty in any civil, criminal or governmental litigation or proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) *Internal Control and Compliance with Sarbanes-Oxley Act of 2002*. The Company is in full compliance with any provision applicable to it of the Sarbanes-Oxley Act of 2002 (the "**Sarbanes-Oxley Act**") and the rules and regulations promulgated in connection therewith, and all applicable rules of Nasdaq, including, without limitation, Section 402 related to loans and Sections 302 and 906 related to certifications required under the Sarbanes-Oxley Act. The Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal controls over accounting matters and financial reporting, an internal audit function and legal and regulatory compliance controls (collectively, "**Internal Controls**") to comply with applicable laws and regulations, including, without limitation, the Securities Act, the Exchange Act, the Sarbanes-Oxley Act, the rules and regulations of the Commission, and the rules of Nasdaq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Exchange Act Filing*. A registration statement in respect of the Class A Ordinary Shares has been filed on Form 8-A (the "**Form 8-A Registration Statement**") pursuant to Section 12(b) of the Exchange Act, which registration statement complies in all material respects with the Exchange Act. The Form 8-A Registration Statement is effective, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Class A Ordinary Shares under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) *Earning Statements*. The Company will make generally available (which includes filings pursuant to the Exchange Act made publicly through the EDGAR system) to its security holders as soon as practicable, but in any event not later than 16 months after the end of the Company's current fiscal year, an earnings statement (which need not be audited) covering a 12-month period that shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Rules and Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) *Periodic Reporting Obligations*. During the Prospectus Delivery Period (defined below), the Company shall file, on a timely basis, with the Commission all reports and documents required to be filed under the Exchange Act. Additionally, the Company shall report the use of proceeds from the issuance of the Firm Shares as may be required under Rule 463 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) *Forward-looking Statements.* No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Registration Statement, the Disclosure Package, the Prospectus, or shall be contained in any amendments and supplements thereof, has been made, or will be made, without a reasonable basis, as reasonably determined by the Company in good faith at the time such statement is made or will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) *Foreign Tax Compliance*. Except as otherwise disclosed in the Disclosure Package and the Prospectus, no transaction, stamp, capital or other issuance, registration, transaction, transfer or withholding taxes or duties are payable in any applicable jurisdictions, or to any taxing authority in any applicable jurisdictions in connection with the issuance, sale and allotment of the Offered Securities, and the allotment of the Offered Securities to or for the account of the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) *Reserved.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) *Reserved.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) *Foreign Private Issuer Status*. The Company is a "foreign private issuer" within the meaning of Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) *D&O Questionnaires; Lock-up Agreements*. To the Company's knowledge, all information contained in the questionnaires (the "**Questionnaires**") completed by each of the Company's directors and officers prior to the Offering (the "**Insiders**") as well as in the Lock-Up Agreement in the form attached hereto as <u>Exhibit A</u> provided to the Representative is true and correct in all respects and the Company has not become aware of any information which would cause the information disclosed in the Questionnaires completed by each Insider to become inaccurate and incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) *Solvency*. Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the Company of the proceeds from the sale of the Offered Securities hereunder, the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, are sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt). Except as set forth in the Registration Statement and the Prospectus, the Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. The Registration Statement and the Prospectus set forth as of the date hereof all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments. For the purposes of this Agreement, "Indebtedness" means (x) any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company's consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (z) the present value of any lease payments in excess of $50,000 due under leases required to be capitalized in accordance with IFRSs. Except as set forth in the Registration Statement and the Prospectus, neither the Company nor any Subsidiary is in default with respect to any Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) *Regulation M Compliance*. The Company has not, and to its knowledge no one authorized to act on its behalf has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Offered Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases of, any of the Offered Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company, other than, in the case of clauses (ii) and (iii), compensation paid to the Underwriters in connection with the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) *EGC Status and Testing the Waters Communications*. From the time of the initial confidential submission of the Registration Statement to the Commission (or, if earlier, the first date on which the Company engaged directly or through any person authorized to act on its behalf in any Testing the Waters Communication (as defined below)) through the date hereof, the Company has been and is an "emerging growth company", as defined in Section 2(a) of the Securities Act ("**Emerging Growth Company**"). "**Testing the Waters Communication**" means any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Securities Act. The Company (i) has not alone engaged in any Testing the Waters Communications other than Testing the Waters Communications with the consent of the Representative with entities that are qualified institutional buyers within the meaning of Rule 144A under the Securities Act or institutions that are accredited investors within the meaning of Rule 501 under the Securities Act and (ii) has not authorized anyone other than the Representative to engage in Testing the Waters Communications. The Company reconfirms that the Representative has been authorized to act on its behalf in undertaking Testing the Waters Communications. The Company has not distributed any Written Testing the Waters Communications (as defined below) other than those listed on <u>Schedule F</u> hereto. "**Written Testing the Waters Communication**" means any Testing the Waters Communication that is a written communication within the meaning of Rule 405 under the Securities Act. As of the time of each sale of the Offered Securities in connection with the Offering when the Prospectus is not yet available to prospective purchasers, no individual Written Testing the Waters Communications, included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) *Margin Securities*. The Company owns no "margin securities" as that term is defined in Regulation U of the Board of Governors of the Federal Reserve System (the "**Federal Reserve Board**"), and none of the proceeds of the Offering will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Offered Securities to be considered a "purpose credit" within the meanings of Regulation T, U or X of the Federal Reserve Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) *No Finder's Fee.* There are no contracts, agreements, or understandings between the Company or its Subsidiaries and any other person that would give rise to a valid claim against the Company or its Subsidiaries or any Underwriter for a brokerage commission, finder's fee or other like payment in connection with this Offering, or any other arrangements, agreements, understandings, payments, or issuance with respect to the Company, or its Subsidiaries, or any of their respective officers, directors, shareholders, partners, employees or related parties that may affect the Underwriters' compensation as determined by FINRA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) *No FINRA Affiliations*. To the Company's knowledge and except as disclosed to the Representative in writing, no (i) officer or director of the Company or its subsidiaries, (ii) owner of ten percent (10%) or more of any class of the Company's securities or (iii) owner of any amount of the Company's unregistered securities acquired within the 180-day immediately prior to the date that the Registration Statement was initially filed to the Commission, has any direct or indirect affiliation or association with any FINRA member. The Company will advise the Representative and its counsel if it becomes aware that any such person described in (i) to (iii) under this section 1(ww) is or becomes an affiliate or associated person of a FINRA member participating in the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) *Operating and Other Data.* All operating and other data pertaining to the Disclosure Package and the Prospectus are true and accurate in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy) *Third-party Data.* Any statistical, industry-related and market-related data included in the Disclosure Package and the Prospectus is based on or derived from sources that the Company reasonably and in good faith believes to be reliable and accurate, and such data agrees with the sources from which it is derived, and the Company has obtained the written consent for the use of such data from such sources to the extent required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz) *Compliance with Environmental Laws*. The Company and its Subsidiaries are (A) in compliance with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants ("**Environmental Laws**"), (B) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (C) have not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except where such non-compliance with Environmental Laws, failure to receive required permits, licenses or other approvals, or liability would not have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa) *Compliance with Law, Constitutive Documents and Contracts*. Neither the Company nor any of the Subsidiaries is (a) in breach or violation of any provision of applicable law (including, but not limited to, any applicable law concerning information collection and user privacy protection) or (b) in breach or violation of its respective constitutive documents, or (c) in default under (nor has any event occurred that, with notice, lapse of time or both, would result in any breach or violation of, constitute a default under or give the holder of any indebtedness (or a person acting on such holder's behalf) the right to require the repurchase, redemption or repayment of all or a part of such indebtedness under) any agreement or other instrument that is binding upon the Company or any of the Subsidiaries, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company or any of the Subsidiaries, except in the cases of (a) and (c) above, where any such breach, violation or default would not have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb) *No Unlawful Influence.* The Company has not offered, or caused the Underwriters to offer, Shares to any person or entity with the intention of unlawfully influencing: (a) a customer or supplier of the Company or any affiliate of the Company to alter the customer's or supplier's level or type of business with the Company or such affiliate or (b) a journalist or publication to write or publish favorable information about the Company or any such affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc) *Integration*. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause the Offering to be integrated with prior offerings by the Company for purposes of the Securities Act that would require the registration of any such securities under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ddd) *Representation of Officers*. Any certificate signed by an officer of the Company and delivered to the Representative or to counsel for the Representative shall be deemed to be a representation and warranty by the Company to the Underwriters as to the matters set forth therein. The Company acknowledges that the Underwriters and, for purposes of the opinions to be delivered pursuant to <u>Section 6</u> hereof, counsel to the Company, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.

SECTION 2. *Firm Shares; Additional Shares; Representative Warrants.*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Purchase of Firm Shares*. Based on the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the Underwriters the Firm Shares at a purchase price (net of discounts<sup>1</sup>) of $[\*] per share. The Underwriters agree to subscribe for and purchase from the Company the Firm Shares in such amounts as set forth opposite their respective names on <u>Schedule A</u> attached hereto and made a part hereof.

<sup>1</sup> 7%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Delivery of and Payment for Firm Shares*. Issue and delivery of, and payment for, the Firm Shares shall be made at 10:00 A.M., Eastern Time, on the second (2<sup>nd</sup>) business day following the Applicable Time, or at such time as shall be agreed upon by the Representative and the Company, at a place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Representative and the Company. The hour and date of issue and delivery of and payment for the Firm Shares is called the "**Closing Date**." The closing of the payment of the purchase price for, and issue of the Firm Shares is referred to herein as the "**Closing**." Payment for the Firm Shares shall be made on the Closing Date by wire transfer in Federal (same day) funds upon issue to the Underwriters of the Firm Shares (and either delivery of share certificate in respect of the Firm Shares or if uncertificated through the full fast transfer facilities of the DTC for the account of the Underwriters). The Firm Shares shall be registered in such names and in such denominations as the Underwriters may request in writing at least two (2) Business Days prior to the Closing Date. The Company shall not be obligated to issue and sell or deliver the Firm Shares except upon tender of payment by the Underwriters for all the Firm Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Additional Shares*. The Company hereby grants to the Underwriters an option (the "**Over-allotment Option**"), exercisable for 45 days after the Closing Date, to purchase up to an additional 750,000 Class A Ordinary Shares, representing fifteen percent (15%) of the Firm Shares, in each case solely for the purpose of covering over-allotments of such securities, if any. The Over-allotment Option is, at the Representative's sole discretion, for Additional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Exercise of Over-allotment Option*. The Over-allotment Option granted pursuant to Section 2(c) hereof may be exercised by the Representative on or within 45 days from the Closing Date. The purchase price to be paid per Additional Shares shall be equal to the price per Firm Share in Section 2(a). The Underwriters shall not be under any obligation to purchase any Additional Shares prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company from the Representative, which shall be confirmed in writing via overnight mail or facsimile or other electronic transmission, setting forth the number of Additional Shares to be purchased and the date and time for delivery of and payment for the Additional Shares (the "**Option Closing Date**"), which shall not be later than five (5) full Business Days after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of the Representative's counsel or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Additional Shares does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option with respect to all or any portion of the Additional Shares, subject to the terms and conditions set forth herein, (i) the Company shall become obligated to sell to the Underwriters the number of Additional Shares specified in such notice and (ii) the Underwriters shall purchase that portion of the total number of Additional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Delivery and Payment of Additional Shares.* Payment for the Additional Shares shall be made on the Option Closing Date by wire transfer in Federal (same day) funds, upon delivery to the Representative of certificates (in form and substance satisfactory to the Representative) representing the Additional Shares (or through the facilities of DTC) for the account of the Underwriters. The Additional Shares shall be registered in such name or names and in such authorized denominations as the Representative may request in writing at least two (2) full Business Days prior to the Option Closing Date. The Company shall not be obligated to sell or deliver the Additional Shares except upon tender of payment by the Underwriters for applicable Additional Shares. The Option Closing Date may be simultaneous with, but not earlier than, the Closing Date; and in the event that such time and date are simultaneous with the Closing Date, the term "Closing Date" shall refer to the time and date of delivery of the Firm Shares and Additional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Underwriter's Discount.* In consideration of the services to be provided for hereunder, the Underwriters shall receive a discount equal to seven percent (7%) of the gross proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Representative Warrants.* The Company hereby agrees to issue to the Representative (and/or its designees) on the Closing Date warrants ("**Representative Warrants**") to purchase such number of Ordinary Shares, representing seven and a half percent (7.5%) of the total number of Offered Securities . The agreement(s) representing the Representative Warrants, in the form attached hereto as <u>Exhibit B</u> (the "**Representative's Warrant Agreement**"), shall be exercisable at any time, and from time to time, in whole or in part, commencing from the date of issuance and expiring on the fifth year anniversary of the commencement of sales of the Offering at an initial exercise price per share of $[\*], which is equal to 125% of the offering price of the Firm Shares. The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative's Warrants and the Class A Ordinary Shares issuable upon exercise thereof during the one hundred eighty (180) days beginning on the date of commencement of sales of the Offering and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative's Warrants, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) days beginning on the date of commencement of sales of the Offering to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; and only if any such transferee agrees to the foregoing lock-up restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Delivery of the Representative Warrants.* Delivery of the Representative's Warrants shall be made on the Closing Date, and shall be issued in the name or names and in such authorized denominations as the Representative may request.

 ****

SECTION 3. *Covenants of the Company.*

 

The Company also covenants and agrees with each of the Underwriters as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Underwriter's Review of Proposed Amendments and Supplements*. During the period beginning at the Applicable Time and ending on the later of the Closing Date or such date as, in the opinion of counsel for the Representative, the Prospectus is no longer required by law to be delivered in connection with sales by the Underwriters or selected dealers, including under circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act (the "**Prospectus Delivery Period**"), prior to amending or supplementing the Registration Statement or the Prospectus, including any amendment or supplement through incorporation by reference of any report filed under the Exchange Act, the Company shall furnish to the Underwriters for review a copy of each such proposed amendment or supplement, and the Company shall not file any such proposed amendment or supplement to which the Underwriters reasonably object.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Securities Act Compliance*. After the date of this Agreement, during the Prospectus Delivery Period, the Company shall promptly advise the Underwriters in writing (i) of the receipt of any comments of, or requests for additional or supplemental information from, the Commission, (ii) of the time and date of any filing of any post-effective amendment to the Registration Statement or any amendment or supplement to the Pricing Prospectus or the Prospectus, (iii) of the time and date that any post-effective amendment to the Registration Statement becomes effective and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto or of any order or notice preventing or suspending the use of the Registration Statement, the Pricing Prospectus or the Prospectus, or of any proceedings to remove, suspend or terminate from listing or quotation the Offered Securities from any securities exchange upon which they are listed for trading or included or designated for quotation, or of the threatening or initiation of any proceedings for any of such purposes. If the Commission shall enter any such stop order or order or notice of prevention or suspension at any time, the Company will use its best efforts to obtain the lifting of such order at the earliest possible moment or will file a new registration statement and use its best efforts to have such new registration statement declared effective as soon as practicable. Additionally, the Company agrees that it shall comply with the provisions of Rules 424(b) and 430A, as applicable, under the Securities Act, including with respect to the timely filing of documents thereunder and will confirm that any filings made by the Company under such Rule 424(b) were received in a timely manner by the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Exchange Act Compliance*. During the Prospectus Delivery Period, to the extent the Company becomes subject to reporting obligation under the Exchange Act, the Company will file all documents required to be filed with the Commission pursuant to Sections 13, 14 or 15 of the Exchange Act in the manner and within the time periods required by the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Amendments and Supplements to the Registration Statement, Prospectus and Other Securities Act Matters*. If, during the Prospectus Delivery Period, any event or development shall occur or condition exist as a result of which the Disclosure Package or the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein in the light of the circumstances under which they were made, as the case may be, not misleading, or if it shall be necessary to amend or supplement the Disclosure Package or the Prospectus, in order to make the statements therein, in the light of the circumstances under which they were made, as the case may be, not misleading, or if in the opinion of the Underwriters it is otherwise necessary to amend or supplement the Registration Statement, the Disclosure Package or the Prospectus, or to file a new registration statement containing the Prospectus, in order to comply with law, including in connection with the delivery of the Prospectus, the Company agrees to (i) notify the Underwriters of any such event or condition (unless such event or condition was previously brought to the Company's attention by the Underwriters during the Prospectus Delivery Period) and (ii) promptly prepare (subject to <u>Section 3(a)</u> and <u>Section 3(f)</u> hereof), file with the Commission (and use its best efforts to have any amendment to the Registration Statement or any new registration statement to be declared effective) and furnish at its own expense to the Underwriters and to dealers, amendments or supplements to the Registration Statement, the Disclosure Package or the Prospectus, or any new registration statement, necessary in order to make the statements in the Disclosure Package or the Prospectus as so amended or supplemented, in the light of the circumstances under which they were made, as the case may be, not misleading or so that the Registration Statement, the Disclosure Package or the Prospectus, as amended or supplemented, will comply with law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Permitted Free Writing Prospectuses*. The Company represents that it has not made, and agrees that, unless it obtains the prior written consent of the Underwriters, it will not make, any offer relating to the Offered Securities that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a "**free writing prospectus**" (as defined in Rule 405 under the Securities Act) required to be filed by the Company with the Commission or retained by the Company under Rule 433 under the Securities Act; provided that the prior written consent of the Underwriters hereto shall be deemed to have been given in respect of each free writing prospectus listed on <u>Schedule B</u> hereto. Any such free writing prospectus consented to by the Underwriters is hereinafter referred to as a "**Permitted Free Writing Prospectus**." The Company agrees that (i) it has treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus, and (ii) has complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the Securities Act applicable to any Permitted Free Writing Prospectus, including in respect of timely filing with the Commission, legending and record keeping.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Copies of any Amendments and Supplements to the Prospectus*. The Company agrees to furnish the Underwriters, without charge, during the Prospectus Delivery Period, as many copies of each of the preliminary prospectuses, the Prospectus and the Disclosure Package and any amendments and supplements thereto (including any documents incorporated or deemed incorporated by reference therein) as the Underwriters may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Use of Proceeds*. The Company shall apply the net proceeds from the issue and sale of the Offered Securities sold by it substantially in the manner described under the caption "Use of Proceeds" in the Disclosure Package and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *Transfer Agent*. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Offered Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Internal Controls*. The Company will maintain a system of internal accounting controls designed to provide reasonable assurances that: (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance with IFRSs. and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The internal controls, upon consummation of the Offering, will be overseen by the audit committee of the Company's board of directors in accordance with the rules of Nasdaq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) *Exchange Listing*. The Class A Ordinary Shares have been duly authorized for listing on the Nasdaq Capital Market, subject to official notice of issuance. The Company is in material compliance with the provisions of the rules and regulations promulgated by Nasdaq and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements (to the extent applicable to the Company as of the date hereof or the Closing Date or the Option Closing Date, if any; and subject to all exemptions and exceptions from the requirements thereof as are set forth therein, to the extent applicable to the Company). Without limiting the generality of the foregoing and subject to the qualifications above: (i) all members of the Company's board of directors who are required to be "independent" (as that term is defined under applicable laws, rules and regulations), including, without limitation, all members of each of the audit committee, compensation committee and nominating and corporate governance committee of the Company's board of directors, meet the qualifications of independence as set forth under such laws, rules and regulations, (ii) the audit committee of the Company's board of directors has at least one member who is an "audit committee financial expert" (as that term is defined under such laws, rules and regulations), and (iii) that, based on discussions with Nasdaq, the Company meets all requirements for listing on the Nasdaq Capital Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) *Absence of Further Requirements.* No consent, approval, authorization, or order of, or filing or registration with, any person (including any governmental or regulatory agency or body or any court) is required to be obtained or made by the Company for the consummation of the transactions contemplated by this Agreement or in connection with the Offering, and the issuance and sale of the Offered Securities, except such as have been obtained, or made on or prior to the Closing Date, and are, or on the Closing Date will be, in full force and effect, including (i) under applicable blue sky laws in any jurisdiction in which the Offered Securities are offered and sold and (ii) under the rules and regulations of the FINRA*.* No authorization, consent, approval, license, qualification or order of, or filing or registration with any person (including any governmental agency or body or any court) in any foreign jurisdiction is required for the consummation of the transactions contemplated by this Agreement in connection with the Offering, issuance and sale of the Offered Securities under the laws and regulations of such jurisdiction except such as have been obtained or made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) *Future Reports to the Underwriters.* For one year after the date of this Agreement, the Company will furnish, if not otherwise available on EDGAR, to the Representative pursuant to the addresses and contacts provided in <u>Section 13</u> of this Agreement: (i) as soon as practicable after the end of each fiscal year, copies of the annual report of the Company containing the balance sheet of the Company as of the close of such fiscal year and statements of income, shareholders' equity and cash flows for the year then ended and the opinion thereon of the Company's independent public or certified public accountants; (ii) as soon as practicable after the filing thereof, copies of each proxy statement, annual report on Form 20-F, interim financial statements using a Form 6-K or other report filed by the Company with the Commission; and (iii) as soon as available, copies of any report or communication of the Company mailed generally to holders of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) *No Manipulation of Price*. The Company will not take, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) *Existing Lock-Up Agreements*. Except as described in the Registration Statement, the Disclosure Package and the Prospectus, there are no existing agreements between the Company and its shareholders that prohibit the sale, transfer, assignment, pledge, or hypothecation of any of the Company's Class A Ordinary Shares. The Company will direct the transfer agent to place stop transfer restrictions upon the Class A Ordinary Shares of the Company that are bound by such "lock-up" agreements for the duration of the periods contemplated therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) *Company Lock-Up*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each
 of the Company and any successors of the Company will not, without the prior written consent
 of the Representative, from the date of execution of this Agreement and continuing for a
 period of one hundred and eighty (180) days after the Closing (the "**Lock-Up Period** "), (i)
 offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or
 contract to purchase, purchase any option or contract to sell, grant any option, right or
 warrant to purchase or otherwise transfer or dispose of, directly or indirectly, or file
 with the Commission a registration statement under the Securities Act relating to, any Class
 A Ordinary Share or any securities convertible into or exercisable or exchangeable for Class
 A Ordinary Shares, or (ii) enter into any swap or other agreement that transfers, in whole
 or in part, any of the economic consequences of ownership of the Class A Ordinary Shares
 or any such other securities, whether any such transaction described in clause (i) or (ii)
 above is to be settled by delivery of Class A Ordinary Shares or such other securities, in
 cash or otherwise, except to the Underwriters pursuant to this Agreement. The Company agrees
 not to accelerate the vesting of any option or warrant or the lapse of any repurchase right
 prior to the expiration of the Lock-Up Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The
 restrictions contained in <u>Section 3(o)(i)</u> hereof shall not apply to: (i) the Offered
 Securities to be sold hereunder, (ii) the issuance by the Company of Class A Ordinary Shares
 upon the exercise of a stock option or warrant or the conversion of a security outstanding
 on the date hereof and disclosed in the Registration Statement, the Disclosure Package or
 the Prospectus, and (iii) securities issued pursuant to acquisitions or strategic transactions
 approved by a majority of the disinterested directors of the Company, provided that such
 securities are issued as "restricted securities" (as defined in Rule 144) and
 carry no registration rights that require or permit the filing of any registration statement
 in connection therewith during the Lock-Up Period and provided that any such issuance shall
 only be to a Person (or to the equity holders of a Person) which is, itself or through its
 subsidiaries, an operating company or an owner of an asset in a business synergistic with
 the business of the Company and shall provide to the Company additional benefits in addition
 to the investment of funds, but shall not include a transaction in which the Company is issuing
 securities primarily for the purpose of raising capital.

SECTION 4. *Payment of Fees and Expenses.*

 

The Company covenants and agrees with Representative that the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company's counsel and accountants in connection with the registration of the Offered Securities under the Securities Act and all other expenses in connection with the preparation, printing, reproduction and filing of the Registration Statement, any preliminary prospectus, any Issuer Free Writing Prospectus and the Prospectus and amendments and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers; (ii) the cost of printing or producing this Agreement, closing documents (including any compilations thereof) and any other documents in connection with the offering, purchase, sale and delivery of the Offered Securities; (iii) all expenses in connection with the qualification of the Offered Securities for offering and sale under state securities laws, including the reasonable fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky survey if any; (iv) all fees and expenses in connection with listing the Offered Securities on the Nasdaq Capital Market; (v) the filing fees incident to, and the reasonable fees and disbursements of counsel for the Underwriters in connection with (subject to the $150,000 maximum of reimbursable out-of-pocket expenses set forth below), any required review by FINRA of the terms of the sale of the Offered Securities; (vi) the cost of preparing share certificates, if applicable; (vii) the cost and charges of any transfer agent or registrar; (viii) the costs and expenses of the Company relating to investor presentations on any "road show" undertaken in connection with the marketing of the Offered Securities, including without limitation, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Company, travel and lodging expenses of the representatives and officers of the Company and any such consultants if any incurred; and (ix) all other costs and expenses incident to the performance of the Company's obligations hereunder which are not otherwise specifically provided for in this Section.

The Company will pay the Representative a non-accountable expense allowance of one percent (1%) of the gross proceeds from the Offering upon the Closing of the Offering.

The Company will also reimburse the Representative up to a maximum of $150,000 for out-of-pocket accountable expenses, including, but not limited to: (i) all reasonable travel and lodging expenses incurred by the Representative and its counsel in connection with visits to, and examinations of, the Company; (ii) background check on the Company's principal shareholders, directors and officers; (iii) the reasonable cost for road show meetings; (iv) all due diligence expenses; (v) legal counsel fees; (vi) all expenses incidental to the issuance and delivery of the Offered Securities (including all printing and engraving costs, if any); (vii) all fees and expenses of the clearing firm, registrar and transfer agent of the Offered Securities; (viii) all necessary issue, transfer and other stamp taxes in connection with the Offering; and (ix) all costs and expenses incurred in connection with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements, exhibits, schedules, consents and certificates of experts), each Issuer Free Writing Prospectus, each preliminary prospectus and the Prospectus, and all amendments and supplements thereto, and this Agreement. The Company has paid an advance of $[\*] to the Representative for its anticipated out-of-pocket expenses; any advance will be returned to the Company to the extent the out-of-pocket accountable expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).

The Representative will be entitled to a breakup fee of $250,000 if the Issuer wishes to terminate the Engagement Agreement between the Company and the Representative, dated as of January 2, 2026, as amended, prior to the Company being listed on a national exchange. This fee will not be due if the Representative terminates the Engagement Agreement or if the Offering is successful and Company becomes listed on a national exchange.

SECTION 5. *Taxes; Deductions and Withholding from Payments.*

 

All sums payable by the Company under this Agreement shall be paid free and clear of and without deductions or withholdings of any present or future taxes, duties, or other amounts.

SECTION 6. *Conditions of the Obligations of the Underwriters.*

 

The obligations of the Underwriters to subscribe for and purchase the Offered Securities as provided herein on the Closing Date and each Option Closing Date, as applicable, shall be subject to (1) the accuracy of the representations and warranties on the part of the Company set forth in <u>Section 1</u> hereof as of the date hereof and as of the Closing Date and each Option Closing Date, as applicable, as though then made; (2) the timely performance by the Company of its covenants and other obligations hereunder; (3) no objections from FINRA as to the amount of compensation allowable or payable to the Underwriters as described in the Registration Statement; and (4) each of the following additional conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Accountant's Comfort Letter*. On the date hereof, the Representative shall have received from the Accountant, a letter dated the date hereof addressed to the Representative, in form and substance satisfactory to the Representative, containing statements and information of the type ordinarily included in accountants' "comfort letters" to Representative, delivered according to Statement of Auditing Standards No. 72 (or any successor bulletin), with respect to the audited and unaudited financial statements and certain financial information contained in the Registration Statement and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Effectiveness of Registration Statement; Compliance with Registration Requirements; No Stop Order*. During the period from and after the execution of this Agreement to and including the Closing Date and each Option Closing Date, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company shall have filed the Prospectus with the Commission (including the information required by Rule 430A under the Securities Act) in the manner and within the period required by Rule 424(b) under the Securities Act; or the Company shall have filed a post-effective amendment to the Registration Statement containing the information required by such Rule 430A, and such post-effective amendment shall have become effective; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) no stop order suspending the effectiveness of the Registration Statement, or any post-effective amendment to the Registration Statement, shall be in effect and no proceedings for such purpose shall have been instituted or threatened by the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *No Material Adverse Change*. For the period from and after the date of this Agreement to and including the Closing Date and each Option Closing Date, as applicable, in the reasonable judgment of the Representative there shall not have occurred any Material Adverse Change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *CFO Certificate*. On the date hereof and on the Closing Date and/or the Option Closing Date, as applicable, the Representative shall have received a written certificate executed by the Chief Financial Officer of the Company, dated as of such date, on behalf of the Company, with respect to certain financial data contained in the Registration Statement, Disclosure Package and the Prospectus, providing "management comfort" with respect to such information, in form and substance reasonably satisfactory to the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Officers' Certificate.* On the Closing Date and/or the Option Closing Date, as applicable, the Representative shall have received a written certificate executed by the Chief Executive Officer and the Chief Financial Officer of the Company, dated as of such date, to the effect that the signers of such certificate have reviewed the Registration Statement, the Disclosure Package and the Prospectus and any amendment or supplement thereto, each Issuer Free Writing Prospectus, if any, and this Agreement, to the effect that, to the knowledge of such individual:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The representations and warranties of the Company in this Agreement are true and correct, as if made on and as of such Closing Date or Option Closing Date, if applicable, and the Company has complied with all the agreements and satisfied all the conditions on its part to be performed or satisfied at or prior to such Closing Date and/or the Option Closing Date, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No stop order suspending the effectiveness of the Registration Statement or the use of the Prospectus has been issued and no proceedings for that purpose have been instituted or are pending or, to the Company's knowledge, threatened under the Securities Act; no order having the effect of ceasing or suspending the distribution of the Offered Securities or any other securities of the Company has been issued by any securities commission, securities regulatory authority or stock exchange in the United States and no proceedings for that purpose have been instituted or are pending or, to the knowledge of the Company, contemplated by any securities commission, securities regulatory authority or stock exchange in the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To the best of the knowledge of each of the Chief Executive Officer and the Chief Financial Officer of the Company, after reasonable investigation, as of the date thereof, there have been no events that have occurred that would have a Material Adverse Effect, and no labor dispute is imminent which would result in a Material Adverse Effect, nor any legal or governmental proceeding is pending, threatened against, or involving the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) There are no pro forma or as adjusted financial statements that are required to be included in the Registration Statement and the Prospectus pursuant to the Regulations which are not so included;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) When the Registration Statement became effective, at the Applicable Time and at all times subsequent thereto, the Registration Statement contained all material information required to be included therein by the Securities Act and the Exchange Act and the applicable Regulations thereunder, as the case may be, and in all material respects conformed to the requirements of the Securities Act and the Exchange Act and the applicable Regulations thereunder, as the case may be, and the Chief Executive Officer and the Chief Financial Officer of the Company has carefully examined the Registration Statement, the Disclosure Package, any Issuer Free Writing Prospectus and the Prospectus and, in his or her opinion, the Registration Statement and each amendment thereto, as of the Applicable Time and as of the date thereto did not include any untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and the Disclosure Package, as of the Applicable Time and as of the date thereto, any Permitted Free Writing Prospectus as of its date and as of the date of thereto, the Prospectus and each amendment or supplement thereto, as of the respective date thereof and as of the date thereto, did not include any untrue statement of a material fact and did not omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they were made, not misleading; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Subsequent to the respective dates as of which information is given in the Registration Statement and the Prospectus, there has not been: (a) any Material Adverse Change, or any development involving a prospective Material Adverse Change, whether or not arising from transactions in the ordinary course of business; (b) any transaction that is material to the Company and the Subsidiaries taken as a whole, except transactions entered into in the ordinary course of business; (c) any obligation, direct or contingent, that is material to the Company and the Subsidiaries taken as a whole, incurred by the Company or any Subsidiary, except obligations incurred in the ordinary course of business; (d) any material change in the share capital (except changes thereto resulting from the exercise of outstanding options or warrants or conversion of outstanding indebtedness into Class A Ordinary Shares of the Company) or outstanding indebtedness of the Company or any Subsidiary (except for the conversion of such indebtedness into Class A Ordinary Shares); (e) any dividend or distribution of any kind declared, paid or made on Class A Ordinary Shares; or (f) any loss or damage (whether or not insured) to the property of the Company or any Subsidiary which has been sustained or will have been sustained which has a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Secretary's Certificate*. On the Closing Date or Option Closing Date, if applicable, the Representative shall have received a certificate of the Company signed by the Chief Executive Officer of the Company, dated such Closing Date, certifying: (i) that the Company's memorandum and articles of association attached to such certificate is true and complete, has not been modified and is in full force and effect; (ii) that each of the Subsidiaries' articles of association, memorandum of association or charter documents attached to such certificate is true and complete, has not been modified and is in full force and effect; (iii) that the resolutions of the Company's board of directors relating to the Offering attached to such certificate are in full force and effect and have not been modified; and (iv) the good standing of the Company and each of the Subsidiaries. The documents referred to in such certificate shall be attached to such certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Bring-down Comfort Letter*. On the Closing Date or Option Closing Date, if applicable, the Representative shall have received from the Accountant, a letter dated such date, in form and substance satisfactory to the Representative, to the effect that the Accountant reaffirms the statements made in the letter furnished by it pursuant to subsection (a) of this <u>Section 6</u>, except that the specified date referred to therein for the carrying out of procedures shall be no more than two Business Days prior to the Closing Date and/or the Option Closing Date, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *Lock-Up Agreements*. On or prior to the date hereof, the Company shall have furnished to the Representative an agreement substantially in the form of <u>Exhibit A</u> hereto from each of the Company's officers, directors, and certain security holders of five percent (5%) or more of the Company's Class A Ordinary Shares or securities convertible into Class A Ordinary Shares prior to the Offering listed on <u>Schedule D</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Exchange Listing*. The Offered Securities to be delivered on the Closing Date and/or the Option Closing Date shall have been approved for listing on Nasdaq, subject to official notice of issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) *Company Counsel Opinions*. On the Closing Date and/or the Option Closing Date, as applicable, the Representative shall have received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the favorable opinion of Loeb & Loeb LLP, U.S. legal counsel to the Company, addressed to the Representative, including a negative assurance letter, dated as of such date, in form and substance reasonably satisfactory to the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the favorable opinion of Ogier, Cayman Islands legal counsel to the Company, addressed to the Representative, dated as of such date, in form and substance reasonably satisfactory to the Representative; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the favorable opinion of Cheah Teh Su, Malaysia legal counsel to the Company, addressed to the Representative, dated as of such date, in form and substance reasonably satisfactory to the Representative.

The Underwriters shall rely on the opinion of Ogier, filed as Exhibit 5.1 to the Registration Statement, as to the due incorporation, validity of the Offered Securities and due authorization, execution, and delivery of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) *FINRA NOL*. FINRA shall have confirmed that it has not raised any objection with respect to the fairness and reasonableness of the underwriting terms and arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) *Additional Documents*. On or before the Closing Date and/or the Option Closing Date, as applicable, the Representative and counsel for the Representative shall have received such information, documents and opinions as they may reasonably require for the purposes of enabling them to pass upon the issuance and sale of the Offered Securities as contemplated herein, or in order to evidence the accuracy of any of the representations and warranties, or the satisfaction of any of the conditions or agreements, herein contained.

If any condition specified in this <u>Section 6</u> is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Representative by written notice to the Company at any time on or prior to the Closing Date and/or the Option Closing Date, as applicable, which termination shall be without liability on the part of any party to any other party, except that <u>Section 4</u> (with respect to the reimbursement of out-of-pocket accountable, bona fide expenses actually incurred by the Representative) and <u>Section 8</u> shall at all times be effective and shall survive such termination.

SECTION 7. *Effectiveness of this Agreement.*

 

This Agreement shall not become effective until the later of (i) the execution of this Agreement by the parties hereto and (ii) notification (including by way of oral notification from the reviewer at the Commission) by the Commission to the Company of the effectiveness of the Registration Statement under the Securities Act.

SECTION 8. *Indemnification.*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Indemnification by the Company*. The Company shall indemnify and hold harmless the Underwriter, its respective affiliates and each of its respective directors, officers, members, employees and agents and each person, if any, who controls such Underwriters within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the "**Underwriter Indemnified Parties**," and each a "**Underwriter Indemnified Party**") from and against any losses, claims, damages or liabilities (including in settlement of any litigation if such settlement is effected with the prior written consent of the Company) arising out of (i) an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, including the information deemed to be a part of the Registration Statement at the time of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Securities Act Regulations, or arise out of or are based upon the omission from the Registration Statement, or alleged omission to state therein, a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; or (ii) an untrue statement or alleged untrue statement of a material fact contained in the Prospectus, or any amendment or supplement thereto, or in any other materials used in connection with the Offering, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and shall reimburse such Underwriter Indemnified Party for any legal or other expenses reasonably incurred by it in connection with evaluating, investigating or defending against such loss, claim, damage, liability or action; *provided*, *however*, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, expense or liability arises out of or is based upon an untrue statement in, or omission from any preliminary prospectus, the Registration Statement or the Prospectus, or any such amendment or supplement thereto, or any Issuer Free Writing Prospectus or in any other materials used in connection with the Offering made in reliance upon and in conformity with the Underwriter Information. The indemnification obligations under this <u>Section 8(a)</u> are not exclusive and will be in addition to any liability, which the Underwriters might otherwise have and shall not limit any rights or remedies which may otherwise be available at law or in equity to each Underwriter Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Indemnification by the Underwriters*. The Underwriters shall indemnify and hold harmless the Company and the Company's affiliates and each of their respective directors, officers, employees, agents and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively the "**Company Indemnified Parties**" and each a "**Company Indemnified Party**") from and against any losses, claims, damages or liabilities (including in settlement of any litigation if such settlement is effected with the prior written consent of the Underwriters) arising out of (i) any untrue statement of a material fact contained in any preliminary prospectus, any Issuer Free Writing Prospectus, any "issuer information" filed or required to be filed pursuant to Rule 433(d) of the Securities Act Regulations, any Registration Statement or the Prospectus, or in any amendment or supplement thereto, or (ii) the omission to state in any preliminary prospectus, any Issuer Free Writing Prospectus, any "issuer information" filed or required to be filed pursuant to Rule 433(d) of the Securities Act Regulations, any Registration Statement or the Prospectus, or in any amendment or supplement thereto, a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, but in each case only to the extent that the untrue statement or omission was made in reliance upon and in conformity with the Underwriter Information and shall reimburse the Company for any legal or other expenses reasonably incurred by such party in connection with investigating or preparing to defend or defending against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are incurred. Notwithstanding the provisions of this <u>Section 8(b)</u>, in no event shall any indemnity by the Underwriters under this <u>Section 8(b)</u> exceed the total discounts received by the Underwriters in connection with the Offering. The indemnification obligations under this <u>Section 8(b)</u> are not exclusive and will be in addition to any liability, which the Company might otherwise have and shall not limit any rights or remedies which may otherwise be available at law or in equity to each Company Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Procedure*. Promptly after receipt by an indemnified party under this <u>Section 8</u> of notice of the commencement of any action, the indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this <u>Section 8</u>, notify such indemnifying party in writing of the commencement of that action; *provided*, *however*, that the failure to notify the indemnifying party shall not relieve it from any liability which it may have under this <u>Section 8</u> except to the extent it has been materially adversely prejudiced by such failure; and, *provided*, *further*, that the failure to notify an indemnifying party shall not relieve it from any liability which it may have to an indemnified party otherwise than under this <u>Section 8</u>. If any such action shall be brought against an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense of such action with counsel reasonably satisfactory to the indemnified party (which counsel shall not, except with the written consent of the indemnified party, be counsel to the indemnifying party). After notice from the indemnifying party to the indemnified party of its election to assume the defense of such action, except as provided herein, the indemnifying party shall not be liable to the indemnified party under <u>Section 8(a)</u> or <u>Section 8(b)</u>, as applicable, for any legal or other expenses subsequently incurred by the indemnified party in connection with the defense of such action other than reasonable costs of investigation; *provided*, *however*, that any indemnified party shall have the right to employ separate counsel in any such action and to participate in the defense of such action but the fees and expenses of such separate counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless (i) the employment thereof has been specifically authorized in writing by the Company in the case of a claim for indemnification under <u>Section 8(a)</u>, (ii) such indemnified party shall have been advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying party, or (iii) the indemnifying party has failed to assume the defense of such action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the commencement of the action or the indemnifying party does not diligently defend the action after assumption of the defense, in which case, if such indemnified party notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of (or, in the case of a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such indemnified party and the indemnifying party shall be responsible for reasonable legal or other expenses subsequently incurred by such indemnified party in connection with the defense of such action; *provided*, *however,* that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys at any time for any such indemnified party (in addition to any local counsel), which firm shall be designated in writing by the Underwriters if the indemnified party under this <u>Section 8</u> is an Underwriter Indemnified Party or by the Company if an indemnified party under this <u>Section 8</u> is a Company Indemnified Party. Subject to this <u>Section 8(c)</u>, the amount payable by an indemnifying party under <u>Section 8</u> shall include, but not be limited to, (x) reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against, or appearing as a third party witness in respect of, or otherwise incurred in connection with, any action, investigation, proceeding or claim, and (y) all amounts paid in settlement of any of the foregoing. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of judgment with respect to any pending or threatened action or any claim whatsoever, in respect of which indemnification or contribution could be sought under this <u>Section 8</u> (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party in form and substance reasonably satisfactory to such indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. Subject to the provisions of the following sentence, no indemnifying party shall be liable for settlement of any pending or threatened action or any claim whatsoever that is effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in any such matter, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. In addition, if at any time an indemnified party shall have requested that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated herein effected without its written consent if (i) such settlement is entered into more than ninety (90) days after receipt by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall have received notice of the terms of such settlement at least sixty (60) days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Contribution*. If the indemnification provided for in this <u>Section 8</u> is unavailable or insufficient to hold harmless an indemnified party under <u>Section 8(a)</u> or <u>Section 8(b)</u>, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid, payable or otherwise incurred by such indemnified party as a result of such loss, claim, damage, expense or liability (or any action, investigation or proceeding in respect thereof), as incurred, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the indemnifying party on the one hand and the indemnified party on the other hand from the Offering, or (ii) if the allocation provided by clause (i) of this <u>Section 8(d)</u> is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) of this <u>Section 8(d)</u> but also the relative fault of the indemnifying party on the one hand and the indemnified party on the other with respect to the statements, omissions, acts or failures to act which resulted in such loss, claim, damage, expense or liability (or any action, investigation or proceeding in respect thereof) as well as any other relevant equitable considerations as determined in a final judgment by a court of competent jurisdiction. The relative benefits received by the Company on the one hand and the Underwriters on the other with respect to the Offering shall be deemed to be in the same proportion as the total proceeds from the Offering purchased by investors as contemplated by this Agreement (before deducting expenses) received by the Company bear to the total underwriting discounts received by the Underwriters in connection with the Offering, in each case as set forth in the table on the cover page of the Prospectus. The relative fault of the Company on the one hand and the Underwriters on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Underwriters on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement, omission, act or failure to act; provided that the parties hereto agree that the written information furnished to the Company by the Underwriters for use in any preliminary prospectus, the Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists solely of the Underwriter Information. The Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to this <u>Section 8(d)</u> be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, damage, expense, liability, action, investigation or proceeding referred to above in this <u>Section 8(d)</u> shall be deemed to include, for purposes of this <u>Section 8(d)</u>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing to defend or defending against or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding. Notwithstanding the provisions of this <u>Section 8(d)</u>, the Underwriters shall not be required to contribute any amount in excess of the total discounts received in cash by the Underwriters in connection with the Offering less the amount of any damages that the Underwriters have otherwise paid or become liable to pay by reason of any untrue or alleged untrue statement, omission or alleged omission, act or alleged act or failure to act or alleged failure to act. No person, guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

SECTION 9. *Termination of this Agreement.*

 

Prior to the Closing Date and/or the Option Closing Date, as applicable, whether before or after notification by the Commission to the Company of the effectiveness of the Registration Statement under the Securities Act, this Agreement may be terminated by the Underwriters by written notice given to the Company if at any time (i) trading or quotation in the Company's Class A Ordinary Shares shall have been suspended or limited by the Commission or by Nasdaq; (ii) a general banking moratorium shall have been declared by any U.S. federal authorities; or (iii) there shall have occurred any outbreak or escalation of national or international hostilities or any crisis or calamity, or any change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in United States' or international political, financial or economic conditions that, in the reasonable judgment of the Underwriters, is material and adverse and makes it impracticable to market the Offered Securities in the manner and on the terms described in the Prospectus or to enforce contracts for the sale of the Offered Securities; or (iv) regulatory approval (including but not limited to Nasdaq approval) for the Offering is denied, conditioned or modified and as a result it makes it impracticable for the Underwriters to proceed with the offering, sale and/or delivery of the Offered Securities or to enforce contracts for the sale of the Offered Securities. Except as otherwise stated in this section, the Agreement may not be terminated by the Company prior to the Closing Date, other than for cause. Any termination pursuant to this <u>Section 9</u> shall be without liability on the part of (a) the Company to any of the Underwriters, except that the Company shall be, subject to demand by the Underwriters, obligated to reimburse the Underwriters for only those reasonable, accountable and properly documented out-of-pocket expenses (including the reasonable fees and expenses of their counsel, and expenses associated with a due diligence report), actually incurred by the Underwriters in connection herewith as allowed under FINRA Rule 5110, less any amounts previously paid by the Company; *provided*, *however*, that all such expenses shall not exceed $150,000 in the aggregate, (b) the Underwriters to the Company, or (c) of any party hereto to any other party, except that the provisions of <u>Section 4</u> (with respect to the reimbursement of out-of-pocket accountable, bona fide expenses actually incurred by the Underwriters) and <u>Section 8</u> shall at all times be effective and shall survive such termination. If at any time prior to the first anniversary of the final closing date of this Offering, the Company, or any of its affiliates, shall enter into any transaction (including, without limitation, any merger, consolidation, acquisition, financing, joint venture or other arrangement) with any party directly introduced to the Company by the representative during this Offering and the aforementioned time period, the Company shall pay the Representative a success fee, at the closing of such transaction, equal to 1% of the consideration or value received by the Company and/or its shareholders. To the extent the Company terminates its agreement with the Underwriters for cause, such to receive a success fee shall terminate in accordance with FINRA Rule 5110.

SECTION 10. *No Advisory or Fiduciary Responsibility.*

 

The Company hereby acknowledges that the Underwriters are acting solely as underwriters in connection with the Offering. The Company further acknowledges that the Underwriters are acting pursuant to a contractual relationship created solely by this Agreement entered into on an arm's-length basis and in no event do the parties intend that the Underwriters act or be responsible as a fiduciary to the Company, its management, shareholders, creditors or any other person in connection with any activity that the Underwriters may undertake or have undertaken in furtherance of the Offering, either before or after the date hereof. The Underwriters hereby expressly disclaim any fiduciary or similar obligations to the Company, either in connection with the transactions contemplated by this Agreement or any matters leading up to such transactions, and the Company hereby confirms its understanding and agreement to that effect. The Company hereby further confirms its understanding that no Underwriter has assumed an advisory or fiduciary responsibility in favor of the Company with respect to the Offering contemplated hereby or the process leading thereto, including, without limitation, any negotiation related to the pricing of the Offered Securities; and the Company has consulted its own legal and financial advisors to the extent it has deemed appropriate in connection with this Agreement and the Offering. The Company and the Underwriters agree that they are each responsible for making their own independent judgments with respect to any such transactions, and that any opinions or views expressed by the Underwriters to the Company regarding such transactions, including but not limited to any opinions or views with respect to the price or market for the Company's securities, do not constitute advice or recommendations to the Company. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the Underwriters with respect to any breach or alleged breach of any fiduciary or similar duty to the Company in connection with the transactions contemplated by this Agreement or any matters leading up to such transactions. Notwithstanding anything in this Agreement to the contrary, the Company acknowledges that the Underwriters may have financial interests in the success of the Offering that are not limited to the difference between the price to the public and the purchase price paid to the Company by the Underwriters for the Offered Securities, and the Underwriters have no obligation to disclose, or account to the Company for, any of such additional financial interests.

SECTION 11. *Underwriter Default.*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Underwriter or Underwriters shall default in its or their obligation to purchase the Firm Shares, and if the Firm Shares with respect to which such default relates (the "**Default Securities**") do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10%) of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to subscribe for and purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on <u>Schedule A</u> hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that the aggregate number of Default Securities exceeds ten percent (10%) of the number of Firm Shares, the Representative may in its discretion arrange for itself or for another party or parties (including any non-defaulting Underwriter or Underwriters who so agree) to subscribe for and purchase the Default Securities on the terms contained herein. In the event that within five (5) calendar days after such a default the Representative does not arrange for the purchase of the Default Securities as provided in this <u>Section 11</u>, this Agreement shall thereupon terminate, without liability on the part of the Company with respect thereto (except in each case as provided in <u>Sections 4</u>, <u>8</u>, <u>9</u>, <u>11</u> and <u>12</u>) or the Underwriters, but nothing in this Agreement shall relieve a defaulting Underwriter or Underwriters of their liability, if any, to the other Underwriters and the Company for damages related to its or their default hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that any Default Securities are to be subscribed for and purchased by the non-defaulting Underwriters, or are to be purchased by another party or parties as aforesaid, the Representative or the Company shall have the right to postpone the Closing Date for a period, not exceeding five (5) Business Days, in order to effect whatever changes may thereby be necessary in the Registration Statement or the Prospectus or in any other documents and arrangements, and the Company agrees to file promptly any amendment or supplement to the Registration Statement or the Prospectus which, in the reasonable opinion of Underwriters' counsel, may be necessary or advisable. The term "Underwriter" as used in this Agreement shall include any party substituted under this <u>Section 11</u> with like effect as if it had originally been a party to this Agreement with respect to such Default Securities.

SECTION 12. *Representations and Indemnities to Survive Delivery; Third Party Beneficiaries.*

 

The respective indemnities, agreements, representations, warranties and other statements of the Company, of its officers, and of the Underwriters set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Underwriters or the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and will survive delivery of and payment for the Offered Securities sold hereunder and any termination of this Agreement.

SECTION 13. *Notices.*

 

All communications hereunder shall be in writing and shall be mailed, hand delivered, emailed or telecopied and confirmed to the parties hereto as follows:

**If to the Underwriter(s):**

**Network 1 Financial Securities, Inc.**

The Galleria, 2 Bridge Avenue, Suite 241

Red Bank, NJ 07701

Attn: Adam Pasholk <br> Email: <u>adampasholk@netw1.com</u>

*With a copy (which shall not constitute notice) to:*

**Hunter Taubman Fischer & Li LLC**

950 Third Avenue, 19th Floor

New York, NY 10022

Attn: Guillaume de Sampigny, Esq. <br> Email: <u>gdesampigny@htflawyers.com</u> <br> <u>yli@htflawyers.com</u>

**If to the Company:**

**3Knights Dynamics Group Limited**

Unit 19-2, The Boulevard, Mid Valley City

Lingkaran Syed Putra

59200 Kuala Lumpur,

Wilayah Persekutuan Kuala Lumpur, Malaysia

Attn: Chu Hoon Weng, Chief Executive Officer <br> Email: <u>hanrong@3knightsdynamics.com</u>

*With a copy (which shall not constitute notice) to:*

**Loeb & Loeb LLP**

10100 Santa Monica Boulevard, Suite 2200

Los Angeles, CA 90067

Attn: Lawrence S. Venick, Esq. <br> Email: <u>lvenick@loeb.com</u>

Any party hereto may change the address for receipt of communications by giving written notice to the others.

SECTION 14. *Successors.*

 

This Agreement will inure to the benefit of and be binding upon the parties hereto and to the benefit of the employees, officers and directors and controlling persons referred to in <u>Section 8</u>, and in each case their respective successors, and no other person will have any right or obligation hereunder. The term "successors" shall not include any purchaser of the Offered Securities as such merely by reason of such purchase.

SECTION 15. *Partial Unenforceability.*

 

The invalidity or unenforceability of any Section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other Section, paragraph, or provision hereof. If any Section, paragraph, or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable.

SECTION 16. *Governing Law; Submission to Jurisdiction; Trial by Jury.*

 

This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving effect to the choice of law or conflict of laws principles thereof.

Any action, proceeding or claim against it arising out of, or relating in any way to this Agreement shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York (each, a "**New York Court**"), and each party hereto irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each party hereto hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon any party hereto may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in <u>Section 13</u> hereof. Such mailing shall be deemed personal service and shall be legal and binding upon any party hereto in any action, proceeding or claim. The Company and the Underwriters agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all its reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor as determined in a final judgment by a court of competent jurisdiction. The Company and the Underwriters hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

SECTION 17. *Enforceability of Judgment.*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company agrees that any final judgment against the Company for a fixed or readily calculable sum of money rendered by a New York Court having jurisdiction under its own domestic laws in respect of any suit, action or proceeding against the Company based upon this Agreement or any transaction contemplated herein and therein would be recognized and enforced, without re-examination or review of the merits of the underlying dispute by the courts of any applicable jurisdictions or the cause of action in respect of which the original judgment was given or re-litigation of the matters adjudicated upon, by an action commenced on the foreign judgment debt in the courts of any applicable jurisdictions, provided that subject to the judicial discretion under common law for any applicable jurisdictions, (a) a separate legal action was brought at common law in the applicable jurisdictions, to enforce such judgment; (b) such judgment was a final judgment conclusive upon the merits of the claim; (c) such judgement was for a liquidated amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges; (d) such judgement was not obtained by fraud; (e) the proceedings in which such judgment was obtained were not opposed to natural justice; (f) the enforcement or recognition of such judgment would not be contrary to the public policy of the applicable jurisdictions; (g) the court of the United States was jurisdictionally competent; and (h) such judgment was not in conflict with a prior judgment in the applicable jurisdictions. The Company is not aware of any reason why the enforcement in the applicable jurisdictions of such a New York Court judgment would be, as of the date hereof, contrary to natural justice of the public policy of the applicable jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company agrees that although there is no statutory enforcement in the Cayman Islands of judgments obtained in the federal or state courts of the United States (and the Cayman Islands are not a party to any treaties for the reciprocal enforcement or recognition of such judgments), the Cayman Islands Grand Court will at common law enforce final and conclusive in personam judgments of state and/or federal courts of the United States of America (the "**Foreign Court**") of a debt or definite sum of money against the Company (other than a sum of money payable in respect of taxes or other charges of a like nature, or in respect of a fine or other penalty (which may include a multiple damages judgment in an anti-trust action) or where enforcement would be contrary to public policy). The Grand Court of the Cayman Islands may also at common law enforce final and conclusive in personam judgments of the Foreign Court that are non-monetary against the Company, for example, declaratory judgments ruling upon the true legal owner of shares in a Cayman Islands company. The Grand Court will exercise its discretion in the enforcement of non-money judgments by having regard to the circumstances, such as considering whether the principles of comity apply. To be treated as final and conclusive, any relevant judgment must be regarded as res judicata by the Foreign Court. A debt claim on a foreign judgment must be brought within six years of the date of the judgment, and arrears of interest on a judgment debt cannot be recovered after six years from the date on which the interest was due. The Cayman Islands courts are unlikely to enforce a judgment obtained from the Foreign Court under civil liability provisions of U.S. federal securities law if such a judgment is found by the courts of the Cayman Islands to give rise to obligations to make payments that are penal or punitive in nature. Such a determination has not yet been made by the Grand Court of the Cayman Islands. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere. A judgment entered in default of appearance by a defendant who has had notice of the Foreign Court's intention to proceed may be final and conclusive notwithstanding that the Foreign Court has power to set aside its own judgment and despite the fact that it may be subject to an appeal the time-limit for which has not yet expired. The Grand Court may safeguard the defendant's rights by granting a stay of execution pending any such appeal and may also grant interim injunctive relief as appropriate for the purpose of enforcement.

 

 

SECTION 18. *General Provisions.*

 

This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral agreements, understandings, and negotiations with respect to the Offering, except for those specific provisions of the Engagement Agreement between the Company and the Representative, dated as of January 2, 2026, that are not related to the Offering, each of which provisions shall remain in full force and effect for the term of the Engagement Agreement. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The section headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement.

Each of the parties hereto acknowledges that it is a sophisticated business person who was adequately represented by counsel during negotiations regarding the provisions hereof, including, without limitation, the indemnification and contribution provisions of <u>Section 8</u>, and is fully informed regarding said provisions. Each of the parties hereto further acknowledges that the provisions of <u>Section 8</u> hereto fairly allocate the risks in the light of the ability of the parties to investigate the Company, its affairs and its business in order to assure that adequate disclosure has been made in the Registration Statement, any preliminary prospectus and the Prospectus (and any amendments and supplements thereto), as required by the Securities Act and the Exchange Act.

The respective indemnities, contribution agreements, representations, warranties and other statements of the Company and the Underwriters set forth in or made pursuant to this Agreement shall remain operative and in full force and effect, regardless of (i) any investigation, or statement as to the results thereof, made by or on behalf of the Underwriters, the officers or employees of the Underwriters, any person controlling any of the Underwriters, the Company, the officers or employees of the Company, or any person controlling the Company, (ii) acceptance of the Offered Securities and payment for them as contemplated hereby and (iii) termination of this Agreement.

[*Signature Page Follows*]

If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the Company the enclosed copies hereof, whereupon this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms.

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| **3KNIGHTS DYNAMICS GROUP LIMITED** | **3KNIGHTS DYNAMICS GROUP LIMITED** |
| By: |  |
| Name: | Chu Hoon Weng |
| Title: | Chief Executive Officer and Director |

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The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.

For itself and on behalf of the several Underwriters listed

on <u>Schedule A</u> hereto

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| | |
|:---|:---|
| **NETWORK 1 FINANCIAL SECURITIES, INC.** | **NETWORK 1 FINANCIAL SECURITIES, INC.** |
| By: |  |
| Name: | Adam Pasholk |
| Title: | Managing Director |

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**SCHEDULE A**

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| | |
|:---|:---|
| **Underwriter** | **Number of**<br> **Firm Shares** |
| Network 1 Financial Securities, Inc. | [●] |
| **Total** | [●] |

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**SCHEDULE B**

**Issuer Free Writing Prospectus(es)**

[●]

**SCHEDULE C**

**Pricing Information**

Number of Firm Shares: [●]

Number of Additional Shares: [●]

Public Offering Price per one Share: $[●]

Underwriting Discount per one Share: 7% per one Share (or $[●] per share)

Non-accountable expense allowance per one Share: 1% per share (or $[●] per share)

Proceeds to Company per one Share (before expenses): $[●]

**SCHEDULE D**

**Lock-Up Parties**

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| | | | |
|:---|:---|:---|:---|
| **Locked-up Parties** | **Ordinary Shares**<br> **Beneficially Owned** | **Ordinary Shares**<br> **Locked-up**  | **Lock Up**<br> **Period** |
| **Chu Hoon Weng,**<br> Director and Chief Executive Officer | [7,900,000] Class A Ordinary Shares; [1,000,000] Class B Ordinary Shares *(through WLG Holdings Sdn. Bhd.)* | [7,900,000] Class A Ordinary Shares; [1,000,000] Class B Ordinary Shares | 180 days |
| **Lim Seow Leong,**<br> Director and Chief Technology Officer | [7,900,000] Class A Ordinary Shares; [1,000,000] Class B Ordinary Shares *(through WLG Holdings Sdn. Bhd.)* | [7,900,000] Class A Ordinary Shares; [1,000,000] Class B Ordinary Shares | 180 days |
| **Chen Xiang Foong,**<br> Chief Financial Officer | *—* |  | 180 days |
| &nbsp;&nbsp;&nbsp;**Brinda Umesh Patel,**<br> Independent Director Nominee |  |  | 180 days |
| **Lim Guan Hong,**<br> Independent Director Nominee |  |  | 180 days |
| **Marcel Budiono,**<br> Independent Director Nominee |  |  | 180 days |
| **Albert McLelland,**<br> Independent Director Nominee |  |  | 180 days |
| **WLG Holdings Sdn. Bhd.,**<br> Controlling Shareholder *(owned 50% each by Chu Hoon Weng and Lim Seow Leong)* | [15,800,000] Class A Ordinary Shares; [2,000,000] Class B Ordinary Shares | [15,800,000] Class A Ordinary Shares; [2,000,000] Class B Ordinary Shares | 180 days |
| **Minvescient Sdn. Bhd.,** Shareholder *(wholly owned by Low Min Yang)* | [5,000,000] Class A Ordinary Shares | [5,000,000] Class A Ordinary Shares | 180 days |
| **Maxvard Dynamic Sdn. Bhd.,**<br> Shareholder *(wholly owned by Fong Pao Shean)* | [2,200,000] Class A Ordinary Shares | [2,200,000] Class A Ordinary Shares | 180 days |

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**SCHEDULE E**

**Subsidiaries**

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| | |
|:---|:---|
| **Name of Subsidiary** | **Jurisdiction of Incorporation** |
| 3Knights Dynamics Sdn. Bhd. | Malaysia |

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**SCHEDULE F**

**Written Testing the Waters Communications**

[●]

**EXHIBIT A**

**Form of Lock-Up Agreement**

[●], 2026

**Network 1 Financial Securities, Inc.**

The Galleria, 2 Bridge Avenue, Suite 241

Red Bank, NJ 07701

Ladies and Gentlemen:

The undersigned understands that Network 1 Financial Securities, Inc., the representative (the "<u>Representative</u>") of the underwriters (the "<u>Underwriters</u>"), propose to enter into an underwriting agreement (the "<u>Underwriting Agreement</u>") with 3Knights Dynamics Group Limited, a Cayman Islands exempted company (the "<u>Company</u>"), in connection to the initial public offering (the "<u>Offering</u>") of the Company's Class A ordinary shares, par value $0.001 per share (the "<u>Shares</u>").

To induce the Underwriters to continue their efforts in connection with the Offering, the undersigned hereby agrees that, without the prior written consent of the Representative, the undersigned will not, during the period commencing on the date hereof and ending one hundred and eighty (180) days from the effective date of the registration statement associated with the Offering (the "<u>Lock-Up Period</u>"), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Shares or any securities convertible into or exercisable or exchangeable for the Shares (collectively, the "<u>Lock-Up Securities</u>"); (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of the Lock-Up Securities, in cash or otherwise. The foregoing sentence shall not apply to (a) transactions relating to the Shares or other securities acquired in open market transactions after the completion of the Offering, or (b) transfers of the Lock-Up Securities as a *bona fide* gift, by will or intestacy or to a family member or trust for the benefit of a family member (for purposes of this lock-up agreement, "family member" means any relationship by blood, marriage or adoption, not more remote than first cousin); *provided* that in the case of any transfer or distribution pursuant to clause (b), each donee or distributee shall sign and deliver a lock-up letter substantially in the form of this lock-up agreement; (c) transfers of Lock-Up Securities to a charity or educational institution; (d) if the undersigned, directly or indirectly, controls a corporation, partnership, limited liability company or other business entity, any transfers of Lock-Up Securities to any shareholder, partner or member of, or owner of similar equity interests in, the undersigned, as the case may be; (e) if the undersigned is a trust, to a trustee or beneficiary of the trust; *provided* that in the case of any transfer pursuant to the foregoing clauses (b), (c) or (d), (i) any such transfer shall not involve a disposition for value, (ii) each transferee shall sign and deliver to the Representative a lock-up agreement substantially in the form of this lock-up agreement, (iii) no filing under Section 13 of the U.S. Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>") or other filing or public announcement shall be required or shall be voluntarily made, (f) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Lock-Up Securities, *provided* that (i) such plan does not provide for the transfer of Lock-Up Securities during the Lock-Up Period and (ii) no public announcement or filing under the Exchange Act will be voluntarily made by or on behalf of the undersigned or the Company regarding the establishment of such plan; and (g) the transfer of Lock-Up Securities that occurs by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement, provided that the transferee agrees to sign and deliver a lock-up agreement substantially in the form of this lock-up agreement for the balance of the Lock-Up Period, and provided further, that any filing under Section 13 of the Exchange Act that is required to be made during the Lock-Up Period as a result of such transfer shall include a statement that such transfer has occurred by operation of law (collectively, "<u>Permitted Transfers</u>"). In addition, the undersigned agrees that, without the prior written consent of the Representative, it will not, during the Lock-Up Period, make any demand for or exercise any right with respect to, the registration of any Shares or any security convertible into or exercisable or exchangeable for Shares. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent against the transfer of the undersigned's Lock-Up Securities except in compliance with the foregoing restrictions.

No provision in this lock-up agreement shall be deemed to restrict or prohibit (i) the adoption of an equity incentive plan and the grant of awards or equity pursuant to any equity incentive plan, and the filing of a registration statement on Form S-8; *provided*, *however*, that any sales by parties to this lock-up agreement shall be subject to this lock-up agreement, (ii) the issuance of ordinary shares in connection with the exercise of outstanding warrants of the Company; *provided* that this lock-up agreement shall apply to any of the undersigned's shares issued upon such exercise, or (iii) the issuance of securities in connection with an acquisition or a strategic relationship which may include the sale or equity securities; provided, that none of such shares shall be saleable in the public market until the expiration of the 6-month period described above.

If the undersigned is an officer or director of the Company, (i) the undersigned agrees that the foregoing restrictions shall be equally applicable to any securities that the undersigned may purchase in the Offering; and (ii) the Representative agrees that, at least three (3) Business Days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of Lock-Up Securities, the Representative will notify the Company of the impending release or waiver. Any release or waiver granted by the Representative hereunder to any such officer or director shall only be effective two (2) Business Days after the release or waiver. The provisions of this paragraph will not apply if (a) the release or waiver is effected solely to permit a transfer of Lock-Up Securities not for consideration or in connection with any other Permitted Transfer and (b) the transferee has agreed in writing to be bound by the same terms described in this lock-up agreement to the extent and for the duration that such terms remain in effect at the time of such transfer.

The undersigned understands that the Company and the Representative are relying upon this lock-up agreement in proceeding toward consummation of the Offering. The undersigned further understands that this lock-up agreement is irrevocable and shall be binding upon the undersigned's heirs, legal representative, successors and assigns.

The undersigned understands that, if (i) the Underwriting Agreement is not executed by [●], 2026, or (ii) the Company notifies the Representative in writing that it does not intend to proceed with the Offering, or (iii) the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, the undersigned shall be released from all obligations under this lock-up agreement.

Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Underwriters. The undersigned acknowledges that no assurances are given by the Company or the Underwriters that any Offering will be consummated. This lock-up agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York.

[*Signature Page Follows*]

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| |
|:---|
| Very truly yours, |
| (Signature) |
| Address: |
| Email: |
| Date: |

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**EXHIBIT B**

**Form of Representative's Warrant Agreement**

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF ONE HUNDRED AND EIGHTY (180) DAYS BEGINNING ON THE DATE OF COMMENCEMENT OF SALES OF THE OFFERING PURSUANT TO THE REGISTRATION STATEMENT OF THE COMPANY (FILE NO. 333-[\*]) AND MAY NOT BE (A) SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED TO ANYONE OTHER THAN NETWORK 1 FINANCIAL SECURITIES, INC., OR BONA FIDE OFFICERS OR PARTNERS OF NETWORK 1 FINANCIAL SECURITIES, INC., OR (B) CAUSED TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THIS SECURITIES HEREUNDER, EXCEPT AS PROVIDED FOR IN FINRA RULE 5110(E)(2).

**THIS PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [●], 2026. VOID AFTER 5:00 P.M., EASTERN TIME, [●], 2031<sup>2</sup>.**

**UNDERWRITER'S WARRANT**

**FOR THE PURCHASE OF [ ] CLASS A ORDINARY SHARES**

**OF**

**3Knights Dynamics Group Limited**

1. <u>Purchase Warrant</u>. THIS CERTIFIES THAT, pursuant to that certain Underwriting Agreement by and between 3Knights Dynamics Group Limited, a Cayman Islands company (the "**Company**"), on the one hand, and Network 1 Financial Securities, Inc. (the "**Holder**"), on the other hand, dated [●], 2026 (the "**Underwriting Agreement**"), the Holder, as the registered owner of this Purchase Warrant, is entitled, at any time or from time to time from [●], 2026 (the "**Exercise Date**"), and at or before 5:00 p.m., Eastern Time, on [●], 2031, (the "**Expiration Date**"), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to such number of Class A ordinary shares of the Company, par value $0.001 per share (the "**Ordinary Shares**") as equates to seven and a half percent (7.5%) of the aggregate number of Ordinary Shares sold in the Offering (the "**Shares**), including any Ordinary Shares sold upon exercise of the over-allotment option, subject to adjustment as provided in <u>Section 6</u> hereof. If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $[●] per Ordinary Share (which is equal to one hundred and twenty-five percent (125%) of the price of the Ordinary Shares sold in the Offering); *provided, however,* that upon the occurrence of any of the events specified in <u>Section 6</u> hereof, the rights granted by this Purchase Warrant, including the exercise price per Ordinary Share and the number of Ordinary Shares to be received upon such exercise, shall be adjusted as therein specified. The term "**Exercise Price**" shall mean the initial exercise price as set forth above or the adjusted exercise price as a result of the events set forth in <u>Section 6</u> below, depending on the context. Capitalized terms not defined herein shall have the meaning ascribed to them in the Underwriting Agreement.

2. <u>Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Exercise Form</u>. In order to exercise this Purchase Warrant, the exercise form attached hereto as <u>Exhibit A</u> must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Ordinary Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern Time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease and expire.

<sup>2</sup> Five (5) years from the commencement of sales of the public offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Cashless Exercise</u>. At any time after the Exercise Date and until the Expiration Date, Holder may elect to receive the number of Ordinary Shares equal to the value of this Purchase Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder, Shares in accordance with the following formula:

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| | | | | |
|:---|:---|:---|:---|:---|
| X | = | Y(A-B) |  |  |
| X | = | A |  |  |
| Where, | Where, | X | = | The number of Ordinary Shares to be issued to Holder; |
| | | Y | = | The number of Ordinary Shares for which the Purchase Warrant is being exercised; |
| | | A | = | The fair market value of one Ordinary Share; and |
| | | B | = | The Exercise Price. |

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For purposes of this <u>Section 2.2</u>, the "fair market value" of one Ordinary Share is defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Ordinary Shares
 are traded on a national securities exchange, the value shall be deemed to be the closing price on such exchange for the five consecutive
 trading days ending on the day immediately prior to the exercise form being submitted in connection with the exercise of the Purchase
 Warrant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Ordinary Shares
 are actively traded over-the-counter, the value shall be deemed to be the weighted average price of the Ordinary Shares for the five
 consecutive trading days ending on the trading day immediately prior to the exercise form being submitted in connection with the
 exercise of the Purchase Warrant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if there is no market for
 the Ordinary Shares, the value shall be the fair market value thereof, as determined in good faith by the Company's Board of
 Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Legend</u>. Each certificate for the securities purchased under this Purchase Warrant shall bear the following legends unless such securities have been registered under the Securities Act of 1933, as amended (the "**Act**"), or are exempt from registration under the Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF ONE HUNDRED AND EIGHTY (180) DAYS BEGINNING ON THE DATE OF COMMENCEMENT OF SALES OF THE OFFERING PURSUANT TO THE REGISTRATION STATEMENT OF THE COMPANY(FILE NO. 333-[\*]) AND MAY NOT BE (A) SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED TO ANYONE OTHER THAN NETWORK 1 FINANCIAL SECURITIES, INC, OR BONA FIDE OFFICERS OR PARTNERS OF NETWORK 1 FINANCIAL SECURITIES, INC, OR (B) CAUSED TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THIS SECURITIES HEREUNDER, EXCEPT AS PROVIDED FOR IN FINRA RULE 5110(E)(2)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any legend required by the securities laws of any state to the extent such laws are applicable to the Shares represented by a certificate, instrument, or book entry so legended.

3. <u>Transfer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>General Restrictions</u>. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, for a period of one hundred eighty (180) days from the date of commencement of sales of the public offering (the "**Effective Date**"), that such Holder will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant to anyone other than: (i) the Underwriter or a selected dealer participating in the Offering, or (ii) a bona fide officer or partner of the Underwriter or of any such selected dealer, in each case in accordance with FINRA Rule 5110(e)(1), or (b) cause this Purchase Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(e)(2). On and after that date that is one hundred eighty (180) days after the commencement of sales of the offering, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto as <u>Exhibit B</u> duly executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant on the books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Ordinary Shares purchasable hereunder or such portion of such number as shall be contemplated by any such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Restrictions Imposed by the Act</u>. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) the Company has received the opinion of counsel for the Company that the securities may be transferred pursuant to an exemption from registration under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company, (ii) a registration statement or a post-effective amendment to the Registration Statement relating to the offer and sale of such securities that has been declared effective by the U.S. Securities and Exchange Commission (the "**Commission**") and includes a current prospectus or (iii) a registration statement, relating to the offer and sale of such securities has been filed and declared effective by the Commission and compliance with applicable state securities law has been established.

4. <u>Registration Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Demand Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 <u>Grant of Right</u>. Unless all of the Registrable Securities (as defined below) are included in an effective registration statement with a current prospectus or a qualified offering statement with a current registration statement, the Company, upon written demand (a "**Demand Notice**") of the Holder(s) of at least fifty-one percent (51%) of the Ordinary Shares ("**Majority Holders**"), agrees to register, on two occasions only (each, a "Demand Registration"), all or any portion of the Ordinary Shares underlying this Purchase Warrant that are permitted to be registered under the Act (collectively, the "**Registrable Securities**"). On such occasion, the Company will file a registration statement with the Commission (a "**Demand Registration Statement**") covering the Registrable Securities within sixty (60) days after receipt of a Demand Notice and use its best efforts to have the registration statement declared effective promptly thereafter, subject to compliance with review by the Commission; provided, however, that the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the Holder is entitled to piggyback pursuant to Section 4.2 hereof and either: (i) the Holder has elected to participate in the offering covered by such registration statement; or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty days after such offering is consummated. The demand for registration may be made at any time during a period of five years beginning on the date of commencement of sales of the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 <u>Terms</u>. In connection with the first Demand Registration, the Company shall bear all fees and expenses attendant to the Demand Registration Statement pursuant to <u>Section 4.1.1</u>, including the reasonable expenses of any legal counsel selected by the Holder(s) to represent the Holder(s) in connection with the sale of the Registrable Securities. In connection with the second Demand Registration, the Holders shall bear all fees and expenses attendant to registering the Registrable Securities, including the reasonable expenses of the Company's legal counsel. The Company agrees to use its best efforts to cause the filing of a Demand Registration Statement required herein to become effective promptly and to qualify or register the Registrable Securities in such states as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required to register the Registrable Securities in a state in which such registration would cause: (i) the Company to be obligated to register or license to do business in such State or submit to general service of process in such State, or (ii) the principal shareholders of the Company to be obligated to escrow their Ordinary Shares of the Company. The Company shall cause any registration statement filed pursuant to the demand right granted under <u>Section 4.1.1</u> to remain effective for a period of at least 12 consecutive months after the date that the Holders of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of such securities. The Holder(s) shall only use the prospectuses provided by the Company to sell the shares covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company if the Company advises the Holder(s) that such prospectus may no longer be used due to a material misstatement or omission. Notwithstanding the provisions of this <u>Section 4.1.2</u>, the Holder(s) shall be entitled to a Demand Registration Statement under this <u>Section 4.1.2</u> on only two occasions and such demand registration right shall terminate on the fifth anniversary of the commencement of sales of the Offering in accordance with FINRA Rule 5110(g)(8)(C).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>"Piggy-Back" Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.1 <u>Grant of Right</u>. Unless all of the Registrable Securities are included in an effective registration statement with a current prospectus or a qualified offering statement with a current offering circular, the Holder shall have the right, for a period of five years commencing on the date of commencement of sales of the Offering, to include the remaining Registrable Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145 promulgated under the Act or pursuant to Form F-3 or any equivalent form).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.2 <u>Terms</u>. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to <u>Section 4.2.1</u> hereof, including the expenses of any legal counsel selected by the Holder(s) to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities with not less than 30 days written notice prior to the proposed date of filing of such registration statement. Such notice to the Holder(s) shall continue to be given for each registration statement filed by the Company until such time as all of the Registrable Securities have been registered under an effective registration statement. The holders of the Registrable Securities shall exercise the "piggy-back" rights provided for herein by giving written notice, within ten days of the receipt of the Company's notice of its intention to file a registration statement. Except as otherwise provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this <u>Section 4.2.2</u>. Notwithstanding the provisions of this <u>Section 4.2.2</u>, such piggyback registration rights shall terminate on the fifth anniversary of the commencement of sales of the Offering in accordance with FINRA Rule 5110(g)(8)(D).

5. <u>New Purchase Warrants to be Issued</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Partial Exercise or Transfer</u>. Subject to the restrictions in <u>Section 3</u> hereof, this Purchase Warrant may be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax if exercised pursuant to <u>Section 2.1</u> hereof, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Ordinary Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Lost Certificate</u>. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

6. <u>Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Adjustments to Exercise Price and Number of Ordinary Shares</u>. The Exercise Price and the number of Ordinary Shares underlying this Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.1 <u>Share Dividends; Split Ups</u>. If, after the date hereof, and subject to the provisions of <u>Section 6.3</u> below, the number of outstanding Ordinary Shares is increased by a stock dividend payable in Ordinary Shares or by a split up of Ordinary Shares or other similar event, then, on the effective day thereof, the number of Ordinary Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Ordinary Shares, and the Exercise Price shall be proportionately decreased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.2 <u>Aggregation of Ordinary Shares</u>. If, after the date hereof, and subject to the provisions of <u>Section 6.3</u> below, the number of outstanding Ordinary Shares is decreased by a consolidation, combination or reclassification of Ordinary Shares or other similar event, then, on the effective date thereof, the number of Ordinary Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares, and the Exercise Price shall be proportionately increased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.3 <u>Replacement of Ordinary Shares upon Reorganization, etc</u>. In case of any reclassification or reorganization of the outstanding Ordinary Shares other than a change covered by <u>Section 6.1.1</u> or <u>Section 6.1.2</u> hereof or that solely affects the par value of such Ordinary Shares, or in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another corporation (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of ordinary shares or other securities or property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the number of Ordinary Shares of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also results in a change in Ordinary Shares covered by <u>Section 6.1.1</u> or <u>Section 6.1.2</u>, then such adjustment shall be made pursuant to <u>Section 6.1.1</u>, <u>Section 6.1.2</u> and this <u>Section 6.1.3</u>. The provisions of this <u>Section 6.1.3</u> shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.4 <u>Fundamental Transaction.</u> If, at any time while this Purchase Warrant is outstanding, the Company enters into the following transactions with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by the other Person or other Persons making or party to, or associated or affiliated with, the other Persons making or party to such stock or share purchase agreement or other business combination): (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any direct or indirect purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spinoff or scheme of arrangement) with another Person or group of Persons (each a "**Fundamental Transaction**"), then, upon any subsequent exercise of this Purchase Warrant, the Holder shall have the right to receive, for each Purchase Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of Ordinary Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional or alternative consideration (the "**Alternative Consideration**") receivable as a result of such Fundamental Transaction by a holder of the number of Ordinary Shares for which this Purchase Warrant is exercisable immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternative Consideration based on the amount of Alternative Consideration issuable in respect of one Ordinary Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternative Consideration in a reasonable manner reflecting the relative value of any different components of the Alternative Consideration. If holders of Ordinary Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternative Consideration it receives upon any exercise of this Purchase Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the "**Successor Entity**") to assume in writing all of the obligations of the Company under this Purchase Warrant, and to deliver to the Holder in exchange for this Purchase Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Purchase Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Ordinary Shares acquirable and receivable upon exercise of this Purchase Warrant prior to such Fundamental Transaction, and with an exercise price which applies the Exercise Price hereunder to such shares of capital stock (but taking into account the relative value of the Ordinary Shares pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Purchase Warrant immediately prior to the consummation of such Fundamental Transaction). Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Purchase Warrant and the other Transaction Documents referring to the "Company" shall refer instead to the Successor Entity), and may exercise every right and power of, the Company and shall assume all of the obligations of the Company, under this Purchase Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.5 <u>Changes in Form of Purchase Warrant</u>. This Purchase Warrant need not be changed because of any change pursuant to this <u>Section 6.1</u>, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Ordinary Shares as are stated in the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the date hereof or the computation thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Substitute Purchase Warrant</u>. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification or change of the outstanding Ordinary Shares), the corporation formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of Ordinary Shares and other securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Ordinary Shares of the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this <u>Section 6</u>. The above provision of this <u>Section 6</u> shall similarly apply to successive consolidations or share reconstructions or amalgamations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Elimination of Fractional Interests</u>. The Company shall not be required to issue certificates representing fractions of Ordinary Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole number of Ordinary Shares or other securities, properties or rights.

7. <u>Reservation and Listing</u>. The Company shall at all times reserve and keep available out of its authorized Ordinary Shares, solely for the purpose of issuance upon exercise of this Purchase Warrant, such number of Ordinary Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of this Purchase Warrant and payment of the Exercise Price therefor, in accordance with the terms hereby, all Ordinary Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. The Company further covenants and agrees that upon exercise of this Purchase Warrant and payment of the exercise price therefor, all Ordinary Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. As long as this Purchase Warrant shall be outstanding, the Company shall use its commercially reasonable efforts to cause all Ordinary Shares issuable upon exercise of this Purchase Warrant to be listed (subject to official notice of issuance) on all national securities exchanges (or, if applicable, on the OTCQB Market or any successor quotation system) on which the Ordinary Shares issued to the public in the Offering may then be listed and/or quoted (if at all).

8. <u>Certain Notice Requirements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Holder's Right to Receive Notice</u>. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events described in <u>Section 8.2</u> shall occur, then, in one or more of said events, the Company shall give written notice of such event at least fifteen days prior to the date fixed as a record date or the date of closing the transfer books (the "**Notice Date**") for the determination of the shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that such notice is given to the shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <u>Events Requiring Notice</u>. The Company shall be required to give the notice described in this <u>Section 8</u> upon one or more of the following events: (i) if the Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall offer to all the holders of its Ordinary Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale of all or substantially all of its property, assets and business shall be proposed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 <u>Notice of Change in Exercise Price</u>. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to <u>Section 6</u> hereof, send notice to the Holders of such event and change ("**Price Notice**"). The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company's Chief Financial Officer.

8.4 <u>Transmittal of Notices</u>. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall be deemed to have been duly made if made in accordance with the notice provisions of the Underwriting Agreement to the addresses and contact information set forth below:

**If to the Holder:**

Network 1 Financial Securities, Inc.

The Galleria, 2 Bridge Avenue, Suite 241

Red Bank, NJ 07701

Attn: Adam Pasholk <br> Email: <u>adampasholk@netw1.com</u>

*With a copy to:*

Hunter Taubman Fischer & Li LLC

950 Third Avenue, 19th Floor<br> New York, NY 10022

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| | |
|:---|:---|
| Attn: | Guillaume de Sampigny. Esq. |
|  | Ying Li, Esq. |
| Email: | <u>gdesampigny@htflawyers.com</u> |
|  | <u>yli@htflawyers.com</u> |

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**If to the Company:**

3Knights Dynamics Group Limited

Unit 19-2, The Boulevard, Mid Valley City

Lingkaran Syed Putra

59200 Kuala Lumpur,

Wilayah Persekutuan Kuala Lumpur, Malaysia

Attn: Chu Hoon Weng, Chief Executive Officer <br> Email: <u>hanrong@3knightsdynamics.com</u>

*With a copy to:*

Loeb & Loeb LLP

10100 Santa Monica Boulevard Suite 2200

Los Angeles, CA 90067

Los Angeles, United States

Attn: Lawrence S. Venick, Esq. <br> Email: <u>lvenick@loeb.com</u>

9. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Amendments</u>. The Company and the Underwriter may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and the Underwriter may deem necessary or desirable and that the Company and the Underwriter deem shall not adversely affect the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Headings</u>. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3. <u>Entire Agreement</u>. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Binding Effect</u>. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein contained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Governing Law; Submission to Jurisdiction; Trial by Jury</u>. This Purchase Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in <u>Section 8</u> hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Waiver, etc</u>. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Exchange Agreement</u>. As a condition of the Holder's receipt and acceptance of this Purchase Warrant, Holder agrees that, at any time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and the Underwriter enter into an agreement ("**Exchange Agreement**") pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 <u>Execution in Counterparts</u>. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 <u>Holder Not Deemed a Shareholder</u>. Except as otherwise specifically provided herein, the Holder, solely in its capacity as a holder of this Purchase Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Purchase Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Purchase Warrant, any of the rights of a shareholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of share, reclassification of share, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Shares which it is then entitled to receive upon the due exercise of this Purchase Warrant. In addition, nothing contained in this Purchase Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Purchase Warrant or otherwise) or as a shareholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 <u>Restrictions</u>. The Holder acknowledges that the Shares acquired upon the exercise of this Purchase Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11 <u>Severability</u>. Wherever possible, each provision of this Purchase Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Purchase Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Purchase Warrant.

 

[*Signature Page Follows*]

**IN WITNESS WHEREOF**, the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the ____ day of _______, 2026.

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| |
|:---|
| **3KNIGHTS DYNAMICS GROUP LIMITED** |
| By: |
| Name: |
| Title: |

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**EXHIBIT A**

**Exercise Notice**

Form to be used to exercise Purchase Warrant:

Date: __________, 20___

The undersigned hereby elects irrevocably to exercise the Purchase Warrant for ______ Ordinary Shares of **3Knights Dynamics Group Limited**, a Cayman Islands company (the "**Company**") and hereby makes payment of $____ (at the rate of $____ per Ordinary Share) in payment of the Exercise Price pursuant thereto. Please issue the Ordinary Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Ordinary Shares for which this Purchase Warrant has not been exercised.

or

The undersigned hereby elects irrevocably to convert its right to purchase ___ Ordinary Shares under the Purchase Warrant for ______ Ordinary Shares, as determined in accordance with the following formula:

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| | | | |
|:---|:---|:---|:---|
|  | X | = | Y(A-B) |
|  | X | = | A |
| Where, | X | = | The number of Ordinary Shares to be issued to Holder; |
|  | Y | = | The number of Ordinary Shares for which the Purchase Warrant is being exercised; |
|  | A | = | The fair market value of one Ordinary Share which is equal to $_____; and |
|  | B | = | The Exercise Price which is equal to $______ per Ordinary Share |

---

The undersigned agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect to the calculation shall be resolved by the Company in its sole discretion.

Please issue the Ordinary Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Ordinary Shares for which this Purchase Warrant has not been converted.

Signature

Signature Guaranteed

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name:

(Print in Block Letters)

Address:

NOTICE: The signature to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.

**EXHIBIT B**

**Assignment Notice**

Form to be used to assign Purchase Warrant:

ASSIGNMENT

(To be executed by the registered Holder to effect a transfer of the within Purchase Warrant):

FOR VALUE RECEIVED, _____________________ does hereby sell, assign and transfer unto the right to purchase _______________ ordinary shares of **3Knights Dynamics Group Limited**, a Cayman Islands company (the "**Company**"), evidenced by the Purchase Warrant and does hereby authorize the Company to transfer such right on the books of the Company.

Dated: __________ 20__

Signature

Signature Guaranteed

NOTICE: The signature to this form must correspond with the name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.

## Exhibit 3.1

**Exhibit 3.1**

Dated 8 October 2025

**Companies Act (Revised)**

**Company Limited by Shares**

**memorandum of association<br> OF**<br> **3Knights Dynamics Group Limited**

![](ex3-1_001.jpg)

**Companies Act (Revised)**

**Company Limited by Shares**

**Memorandum of Association**

**of**

**3Knights Dynamics Group Limited**

1 The name of the Company is 3Knights Dynamics Group Limited.

---

| | |
|:---|:---|
| 2 | The Company's registered office will be situated at the office of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands or at such other place in the Cayman Islands as the directors may at any time decide. |

---

---

| | |
|:---|:---|
| 3 | The Company's objects are unrestricted. As provided by section 7(4) of the Companies Act (Revised), the Company has full power and authority to carry out any object not prohibited by any law of the Cayman Islands. |

---

---

| | |
|:---|:---|
| 4 | The Company has unrestricted corporate capacity. Without limitation to the foregoing, as provided by section 27 (2) of the Companies Act (Revised), the Company has and is capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit. |

---

5 Nothing in any of the preceding paragraphs permits the Company to carry on any of the following businesses without being duly licensed, namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 business of a bank or trust company without being licensed in that behalf under the Banks
 and Trust Companies Act (Revised); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) insurance
 business from within the Cayman Islands or the business of an insurance manager, agent, sub-agent
 or broker without being licensed in that behalf under the Insurance Act (Revised);or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 business of company management without being licensed in that behalf under the Companies
 Management Act (Revised).

---

| | |
|:---|:---|
| 6 | Unless licensed to do so, the Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance of its business carried on outside the Cayman Islands. Despite this, the Company may effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands any of its powers necessary for the carrying on of its business outside the Cayman Islands. |

---

---

| | |
|:---|:---|
| 7 | The Company is a company limited by shares and accordingly the liability of each member is limited to the amount (if any) unpaid on that member's shares. |

---

---

| | |
|:---|:---|
| 8 | The share capital of the Company is USD50,000.00 divided into 450,000,000 Class A Ordinary Shares of par value USD0.0001 each and 50,000,000 Class B Ordinary Shares of par value USD0.0001 each. Subject to the Companies Act (Revised) and the Company's articles of association, the Company has power to do any one or more of the following: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 redeem or repurchase any of its shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 increase or reduce its capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to
 issue any part of its capital (whether original, redeemed, increased or reduced):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with
 or without any preferential, deferred, qualified or special rights, privileges or conditions;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject
 to any limitations or restrictions

and unless the condition of issue expressly declares otherwise, every issue of shares (whether declared to be ordinary, preference or otherwise) is subject to this power; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to
 alter any of those rights, privileges, conditions, limitations or restrictions.

---

| | |
|:---|:---|
| 9 | The Company has power to register by way of continuation as a body corporate limited by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. |

---

We, the subscriber to this memorandum of association, wish to be formed into a company pursuant to this memorandum; and we agree to take the number of shares in the capital of the Company shown opposite our name in the table below.

Dated 8 October 2025

---

| | | |
|:---|:---|:---|
| **Name and address of Subscriber** | **Number of shares taken** | **Signature** |
| Ogier Global Subscriber (Cayman) Limited<br> 89 Nexus Way<br> Camana Bay<br> Grand Cayman, KY1-9009<br> Cayman Islands | 1 Class A Ordinary | <br> per:_________________________<br> Name:<br> Authorised Signatory |
| **Witness to above signature** |  |  |
|  | ___________________________________ | ___________________________________ |
|  | Name: | Name: |
|  | Ogier Global (Cayman) Limited<br> 89 Nexus Way<br> Camana Bay<br> Grand Cayman, KY1-9009<br> Cayman Islands<br>Occupation: Administrator | Ogier Global (Cayman) Limited<br> 89 Nexus Way<br> Camana Bay<br> Grand Cayman, KY1-9009<br> Cayman Islands<br>Occupation: Administrator |

---

## Exhibit 10.4

\

**Exhibit 10.4**

---

| | | |
|:---|:---|:---|
| DATED THIS | DAY OF | **22 APR 2026** |

---

BETWEEN

**HELLO PROPERTY (M) SDN BHD**

**(Registration No. 199601023472 (395824-U))**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as Landlord

AND

**3KNIGHTS DYNAMICS SDN BHD**

**(Registration No. 202101028283 (1428583-T))**

, as Tenant

**TENANCY AGREEMENT**

MESSRS. SOON GAN DION & PARTNERS

ADVOCATES & SOLICITORS

1<sup>st</sup> FLOOR, NO. 73, JALAN SS21/1A

DAMANSARA UTAMA

47400 PETALING JAVA

[TEL: 03-7726 3168 FAX : 03-7726 3445]

File Ref.: 103-260085DK

---

| | |
|:---|:---|
| ![](ex10-4_003.jpg) | **e-Duti Setem LHDNM** |

---

**PENGESAHAN PENERIMAAN BORANG NYATA DUTI SETEM**

**SEWA / PAJAKAN**

---

| | | |
|:---|:---|:---|
| Nombor Adjudikasi | : | L01J1EADF4XB016 |
| Pejabat Setem Negeri | : | Selangor |
| Tarikh Surat Cara Ditandatangani | : | 22-04-2026 |
| Tarikh Surat Cara Diterima Di Malaysia | : |  |
| Nama Surat Cara | : | Perjanjian Sewa |
| Nama Pihak Pertama | : | HELLO PROPERTY (M) SDN BHD |
| Nama Pihak Kedua | : | 3KNIGHTS DYNAMICS SDN BHD |
| Duti Yang Sepatutnya Dikenakan | : | RM 1,284.00 |
| Peremitan / Pengecualian | : | RM 0.00 |
| Duti Yang Dikenakan | : | RM 1,284.00 |
| Penalti Yang Dikenakan | : | RM 0.00 |
| Salinan (2) | : | RM 20.00 |
| Fi Pemprosesan | : | RM 0.00 |
| **Jumlah Besar Duti Yang Kena Dibayar** | : | **RM 1,304.00** |
| Dibayar sebelum atau pada 24/05/2026 | : | RM 1,304.00 |
| **Taksiran ini disifatkan telah dibangkitkan oleh Pemungut pada tarikh borang nyata dikemukakan** | **Taksiran ini disifatkan telah dibangkitkan oleh Pemungut pada tarikh borang nyata dikemukakan** | **Taksiran ini disifatkan telah dibangkitkan oleh Pemungut pada tarikh borang nyata dikemukakan** |

---

---

| | | |
|:---|:---|:---|
| Perakuan Pemohon Dan Ditandatangani Oleh |  |  |
| Nama Penuh | : | Soon Gan Dion |
| Nama Syarikat/Firma/Agensi | : | SOON GAN DION & PARTNERS |
| Tarikh Dan Masa | : | 22/04/2026 12:58:01 pm |

---

Terima kasih kerana menggunakan e-Duti Setem LHDNM

![A black and white circular logo AI-generated content may be incorrect.](ex10-4_001.jpg)

---

| | |
|:---|:---|
| ![](ex10-4_002.jpg) | **IBU PEJABAT** |
| ![](ex10-4_002.jpg) | **LEMBAGA HASIL DALAM NEGERI MALAYSIA** |
| ![](ex10-4_002.jpg) | MENARA HASIL |
| ![](ex10-4_002.jpg) | PERSIARAN RIMBA PERMAI |
| ![](ex10-4_002.jpg) | CYBER 8, 63000 CYBERJAYA |
| ![](ex10-4_002.jpg) | SELANGOR DARUL EHSAN |

---

**SIJIL SETEM**

*STAMP CERTIFICATE*

(Sila lekatkan sijil setem ini ke atas surat cara sebagai bukti penyeteman)

*Please attaCh this stamp certificate to the instrument as evidence of stamping*

---

| | |
|:---|:---|
| **Cara Bayaran** *Payment Method* | FPX TRANSACTIONS |
| **No. Adjudikasi** *Adjudication No.* | L01J1EADF4XB016 |
| **Jenis Surat Cara** | PERJANJ I AN SEWA |
| *Type Of lnstmment* | SURAT CARA UTAMA |
| **Tarikh Surat Cara** | 22/04/2026 |
| *Date Of Instrument* |  |
| **Balasan** *Consideration* | RM 0.00 |

---

**Maklumat Pihak Pertama / Penjual / Pemberi** *First Party / yendor / Transferor I Assignor*

HELLO PROPERTY (M) SDN BHD, (395824-U, 199601023472)

**Maklumat Pihak Kedua / Pembeli / Penerima** *Second Pa,jy /Purchaser / Transferee I Assignee*

3KNIGHTS DYNAMICS SDN BHD, (1428583-T, 202J01028283)

**Butiran Harta / Suratcara** *Property / Instrument Description*

UNIT 19-2, THE BOULEVARD MID VALLEY CITY LINGKARAN SYED PUTRA UTARA, KUALA LUMPUR 59200, WILAYAH PERSEKUTUAN KUALA LUMPUR

Dengan ini disahkan surat cara ini disetem dan diindors seperti maklumat di bawah:

This is to certify this instrument is stamped and indorsed as below:

![](ex10-4_004.jpg)

---

| | |
|:---|:---|
| **No. Kelulusan Perbendaharaan** *Treasury Approval No. :* KK/BSKKl10/600-2/1/2(60) | **Tarikh Cetak** *Printed Date : 23/0412CJ26* IU:22:52 |

---

Pengesahan ketulenan Sijil Setem ini boleh dipastikan di stamps.hasil.gov.my atau melalui aplikasi telefon pintar

*The authenticity of this Stamp Certificate can be verified* at *stamps.hasil.gov.my or by mobile app*

 

lnl adalah cetakan komputer dan tidak perlu ditandatangani

*This is* a *computer* generated *printout* and no *signature is required*

- *tamaVend* -

**<u>TENANCY AGREEMENT</u>**

THIS AGREEMENT is made the day and the year stated in Section 1 of the First Schedule hereto Between:-

(1) The
 party whose name and description are stated in Section 2 of the First Schedule hereto ("the
 Landlord") of the one part; And

(2) The
 party whose name and description are stated in Section 3 of the First Schedule hereto ("the
 Tenant") of the other part.

WHEREAS

(A) The
 Landlord is the legal and beneficial owner of the land and building ("Building")
 comprising the premises more particularly described in Section 4 of the First Schedule hereto
 (hereinafter called "the Demised Premises").

(B) The
 Landlord is desirous of granting and the Tenant is desirous of taking the tenancy of the
 Demised Premises, with vacant possession, for a term as stated in Section 5(b) of the First
 Schedule hereto commencing from and expiring on the respective dates as stated in Section
 5(a) and (c) of the First Schedule hereto and subject to the terms and conditions hereinafter
 contained.

NOW IT IS HEREBY AGREED as follows:-

1. In
 consideration of the deposit sums as stated in Sections 6 and 7 of the First Schedule hereto
 paid by the Tenant to the Landlord, and in consideration of the mutual covenants herein contained,
 the Landlord hereby grants and the Tenant hereby accepts a tenancy of the Demised Premises
 for the term as stated in Section 5(b) of the First Schedule hereto commencing from and expiring
 on the respective dates as stated in Section 5(a) and (c) of the First Schedule hereto at
 the monthly rental as stated in Section 8 of the First Schedule hereto, the first rental
 payment shall be paid on the execution of this Agreement. The Tenant hereby confirms, declares
 and agrees that it shall not have the right to terminate this tenancy prior to the expiry
 of the said term and the said expiry date, however, in the event the Tenant terminates the
 Tenancy prior to the said term and the said expiry date of the Tenancy, whether by breach
 or otherwise, the Tenant shall be liable to pay to the Landlord a sum equivalent to the rent
 for the whole of the unexpired period of the term or such other compensation(s) as may be
 agreed upon by the Landlord.

2. Upon
 the execution of this Agreement, the Tenant shall pay to the Landlord the deposit sum as
 stated in Section 6 of First Schedule hereto (hereinafter called "the Rental Deposit"),
 the receipt of which the Landlord hereby acknowledges, by way of deposit for the due performance
 and observance of the terms, stipulations and covenant on the Tenant's part herein
 contained which Rental Deposit shall be maintained at the aforesaid sum during the term of
 this Tenancy and shall not be treated or deemed to be payments in advance or otherwise of
 the rental herein but shall be refunded to the Tenant free from interest within fourteen
 (14) days from the expiry or earlier determination of this tenancy less such sum or sums
 as may then be found to be due to the Landlord from the Tenant for arrears in rental or for
 any repair to damage done and/or occasioned to the Demised Premises by Tenant and/or its
 servant and/or agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The
 Tenant hereby further agrees to pay to the Landlord upon the execution of this Agreement
 a further deposit sum as stated in Section 7 of First Schedule hereto (hereinafter called
 "the Utilities Deposit"), the receipt of which the Landlord hereby acknowledges,
 as security for any unpaid utilities charges which sums shall be refunded to the Tenant free
 from interest within fourteen (14) days from the expiry or earlier determination of this
 tenancy but after the Landlord is furnished with evidence that all electricity water sewerage
 and refuse collection charges (if any) for the Demised Premises during the term of this tenancy
 have been fully settled by the Tenant. In the event the Tenant has not settled any utilities
 charges at the end of the Tenancy the Landlord shall have the right to set-off from the Utilities
 Deposit all such costs and expenses incurred by the Landlord in settling the Tenant's
 unpaid utilities charges.

4. The Tenant hereby covenants with the Landlord as follows: -

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To
 use the Demised Premises only for the purposes as mentioned in Section 9 of the First Schedule
 hereto and all other legal business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to the payment of the first rental as mentioned in Clause 1 above, to pay with or without
 the Landlord's demand the rent herein reserved in advance on or before the 7<sup>th</sup>
 day of each month free from all deductions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To
 immediately upon receipt thereof deliver to the Landlord all notices received by it from
 the rating authority, the valuation officer or from any other person whatsoever which affect
 or likely to affect the rates payable in respect of the Demised Premises or the assessment
 of the rateable value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In
 the event of the quit rent, municipal rates, assessments or other impositions of a like nature
 presently payable by the Landlord in respect of the Demised Premises or any part thereof
 being increased or if any new rates or impositions shall be levied or imposed upon or in
 respect of the Demised Premises or any part thereof during the term hereby created or any
 extension thereof, the Tenant shall pay and reimburse the Landlord all such increases and
 new impositions as from the date of such increases or new impositions are levied by the proper
 authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To
 comply at all times during the continuance of the tenancy with all statutory and other requirements
 for ensuring the health safety and welfare of the persons using or employed in or about the
 Demised Premises of any part thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) To
 apply in the Tenant's name for telephone and pay the deposits and all charges in respect
 of the service and maintenance charges, conservancy, sewerage, refuse collection charges,
 electricity, telephone services (if any) for the Demised Premises during the term of this
 tenancy and to produce on demand such bills as well as the receipts for payment thereof for
 the Landlord's inspection and to pay a fair proportion of any increase in deposits
 for the supply of water and/or electricity to the Demised Premises, the conservancy sewerage
 and refuse collection charges;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) At
 all times during the continuance of the tenancy shall in respect of the Demised Premises
 and the common property, observe and fulfil all conditions and stipulations as mentioned
 in the rules and regulations as may be imposed by the Landlord, developer and/or management
 corporation and to perform and comply with all such rules and regulations for the efficient
 running of the said building and all rules, directives or regulations as may be imposed amended
 or altered by developer or the management Corporation from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To
 use the Demised Premises for the carrying out of a legal and proper activity, business or
 trade and the Tenant shall be responsible for obtaining the proper consent registration or
 licences for carrying on any activities trade or business in the Demised Premises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not
 to permit or suffer to be done on the Demised Premises anything which will or may infringe
 or contravene any law by-law or regulation affecting the Demised Premises or any activity
 carried out thereon, or anything hazardous immoral or which constitutes a nuisance to the
 neighbours and the Tenant shall indemnify and keep indemnified the Landlord against summonses
 action proceedings claims and demands costs damages and expenses which may be levied or brought
 or made against the Landlord or which the Landlord may be required to pay sustain or incur
 by reason of any breach by the Tenant of the covenant contained in this sub-clause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) To
 keep the interior of the Demised Premises, the flooring and interior piaster or other surface
 material on walls and ceilings, and the Landlord's fixtures thereon including doors,
 plumbing, piping, water closets, cisterns, taps windows, glass, shutters, locks, fastenings,
 air-condition systems, all mechanical and electrical systems, fire protection system, elevators,
 lifts and equipment, electric wire installations and fittings for light and power and other
 fixtures and additions thereto in good and tenantable repairs and clean condition and to
 replace or repair any to of the aforesaid items and any part of the Demised Premises and
 the Landlord's fixtures and fittings therein which shall be broken or damaged due to
 negligence or careless acts or omissions of the Tenant or the servants agents licensees or
 invitees of the Tenant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) To
 permit the Landlord and its agents with or without workmen and others and with or without
 appliances at all reasonable times subject to at least twenty-four (24) hours' prior
 notice being given to the Tenant, to enter upon and examine the condition of the Demised
 Premises and to give the Tenant written notice to effect any reasonable repairs thereto in
 a proper and workmanlike; Provided That if the Tenant shall fail to comply with such notice
 within a reasonable time, then the Landlord may effect any such repairs in a proper and workmanlike
 manner, and the costs thereof shall become a debt due from the Tenant to the Landlord recoverable
 forthwith (fair wear and tear excepted);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) At
 all times during the continuance of the tenancy to observe and comply with all such directions,
 requirements and notices of the Landlord;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Not
 to assign, underlet or part with the actual or legal possession or the use of the Demised
 Premises or any part thereof for any term whatsoever without the previous consent in writing
 of the Landlord first being had and obtained such consent not to be unreasonably withheld
 PROVIDED ALWAYS that in the event of the Tenant assigning under-letting or parting with the
 actual or legal possession or use of the Demised Premises or any part thereof in contravention
 of the provisions of this sub-clause then the Landlord may without prejudice to its rights
 under the tenancy collect from any assignee underlessee or other person in possession of
 the Demised Premises or any part thereof all rent and other monies payable in respect of
 the Demised Premises or any part thereof by such person or persons to the Tenant AND PROVIDED
 FURTHER that such collection of rent and other monies as aforesaid shall not be deemed as
 part or full payment towards the rental as stated in Section 8 of the First Schedule hereto
 and/or to be an acceptance by the Landlord of any such person or persons as assignees under-lessees
 tenants or occupiers or the Demised Premises or any part thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Not
 to make any addition or alteration or execute any improvement or carry out any renovation
 works structural changes and/or construction works pertaining to or to the electrical wiring
 installation of the Demised Premises without the consent of the Landlord in writing first
 being had and obtained, and without the approval (where necessary) from the proper authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) To
 be responsible for and to indemnify the Landlord against all actions, proceedings, claims
 damage occasioned to the Demised Premises or any part thereof or to any person caused by
 any act default or negligence of the Tenant or the servants agents licensees or invitees
 of the Tenant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Except
 with the Landlord's written consent approval, not to paint affix or exhibit any name
 advertisement or writing or any other things upon or outside the private entrance doorway
 windows or external walls of the Demised Premises except the Tenant's name plate/sign
 of a form and character to be approved by the Landlord and the relevant municipal council;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Not
 to bring store or permit or suffer to be brought on or upon the Demised Premises or any part
 thereof any goods articles or things of an objectionable noxious combustible inflammable
 explosive or of dangerous nature and not to do or permit or suffer to be done anything whereby
 the policy or policies of insurance on the Demised Premises against loss or damage by fire
 may become void or voidable or whereby the premium thereon may be increased and to make good
 all damages suffered by the Landlord and to repay to the Landlord on demand all sums paid
 by him by way of increased premium and al! costs and expenses incurred by the Landlord in
 or about any renewal of such policy or policies rendered necessary by a breach or non-observance
 of this covenant without prejudice to the other rights of the Landlord;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) To
 give the Landlord and/or his agents notification of any outbreak of fire on the Demised Premises
 and/or any damage or destruction caused by explosion storm or tempest as soon as practicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Not
 to install any air-conditioning units or telephone or television and or radio antennae in
 or about the Demised Premises without the prior approval of the Landlord in writing first
 being had and received. The costs and expenses of any such installations including all wiring
 and all other expenses incidental thereto shall be borne by the Tenant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) To
 permit the Landlord or persons with authority from the Landlord to affix and retain without
 interference upon any part of the Demised Premises a notice for the re-letting of the Demised
 Premises and to permit all persons duly authorised by the Landlord at reasonable times of
 the day to enter and view the Demised Premises for the purposes of taking a tenancy thereof
 during the three (3) months immediately preceding the expiration of this Tenancy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) To
 keep the Landlord indemnified against all fines, extra charges which may be imposed by the
 relevant or competent authority on the Landlord as a result of any breach whatsoever of any
 of the abovesaid Tenant's covenants; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) At
 the expiration or sooner determination of this tenancy to yield up the Demised Premises with
 the fixtures thereto (other than such Tenant's fixtures as shall belong to the Tenant)
 in good and tenantable repair and condition, fair wear and tear excepted and to remove the
 Tenant's fixtures without damage to any part of the Demised Premises, such removal
 and rectification to damaged areas to be entirely at the Tenant's cost and expense.

5. The Landlord hereby covenants with the Tenant as follows:-

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To
 permit the Tenant, if it punctually pays the rent hereby reserved and observe the stipulations
 on its part herein contained, peacefully to enjoy the Demised Premises without any interruptions
 or disturbance by the Landlord or those lawfully claiming under or in trust for him.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If
 the Tenant shall be desirous of extending this tenancy hereby created for the for a further
 term as stated in Section 10 of the First Schedule hereto (hereinafter called "the
 said further term") at the expiration of the term hereby granted it shall not less
 than three (3) months before the date of such expiration give to the Landlord a notice in
 writing of such desire and provided it has paid the rent hereby reserved and performed all
 the stipulations and covenants to be observed upto the expiration of the term of this tenancy
 then the Landlord shall let the Demised Premises to the Tenant for the said further term
 at a rental at the prevailing market rate subject always to any increase or decrease in rental
 amount not exceeding ten per centum (10%) of the current rental amount and subject to the
 same stipulations as are herein contained save and except this clause for renewal,

6. PROVIDED
 ALWAYS AND IT IS HEREBY EXPRESSLY AGREED BETWEEN THE PARTIES HERETO that if at any time during
 the Tenancy the Demised Premises or any part thereof shall be destroyed or damaged by fire
 storm tempest lighting riot civil commotion Acts of God so as to become unfit for occupation
 and use then the rent hereby covenanted to be paid or a fair proportion thereof according
 to the nature and extent of damage sustained shall forthwith be suspended until the Demised
 Premises shall again be rendered fit for occupation and use. In the event the Demised Premises
 cannot be rebuilt or reinstated within three (3) months from the date of destruction or damage
 then the Tenant shall be at liberty to forthwith terminate this tenancy by giving fourteen
 (14) days' notice in writing to the Landlord whereupon the tenancy shall then absolutely
 determined and the Landlord shall refund to the Tenant any rental paid in advance or such
 fair proportion thereof as the case may be (calculated from the date of destruction or damage)
 for any unexpired period of tenancy and the Rental Deposit and Utilities Deposit less any
 monies which may be lawfully due to the Landlord. Thereafter the tenancy shall be null and
 void and of no further effect and neither party shall have any claims against the other save
 and except in respect of any antecedent breach.

7. The
 Landlord hereby reserves the right to determine this tenancy before its expiry in any of
 the following circumstances (but without prejudice to any right of action by the Landlord
 that may have accrued prior to such determination):-

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the rent hereby reserved or any part thereof shall remain in arrears after becoming due and
 payable and after the Landlord has given notice to the Tenant to pay the same within seven
 (7) days from the date of receipt of the notice (and for this purpose the parties hereto
 expressly agree that the said period of seven (7) days from the date of receipt of the notice
 shall be or is deemed to be a reasonable time as required by Section 235 of the National
 Land Code 1965); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Tenant shall make default or fails in the observance or performance of any of the conditions
 or covenants on its part herein contained and fail to remedy such breach within fourteen
 (14) days from the date of receipt of the notice from the Landlord requiring him to remedy
 the same; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 the Tenant shall be adjudged a bankrupt or have a receiving order made against it or shall
 make any assignment for the benefit of its creditors or either enter into agreement or make
 any arrangement with its creditors by composition or otherwise or suffer any distress or
 attachment or execution to be levied against its goods or being a company enter into liquidation
 whether compulsory or voluntary (except for the purpose of reconstruction or amalgamation).

8. Notwithstanding
 Clause 7 above, the Landlord shall have the sole and absolute right to terminate this Agreement
 and/or the Tenancy at any time prior to its expiry for any reason(s) whatsoever by giving
 to the Tenant three (3) months' notice or three (3) months' rental in lieu of
 such notice without any compensation to the Tenant.

9. Any
 notice to be given hereunder shall be in writing and may be given by sending the same by
 prepaid registered post addressed to the party concerned at its address as is given in this
 Agreement or such other address as such party may have notified in writing to the other party
 or facsimile transmission or telex followed by confirmation by prepaid registered post, addressed
 to the party concerned at its address as is given in this Agreement or at such other address
 as such party may have notified in writing to the other party. Any notice so given shall
 be deemed to have been served in the case of a notice sent by registered post, seven (7)
 days after the notice has been posted and in the case of a notice sent by facsimile transmission,
 on the day the transmission report shows that the notice has been sent provided that the
 said notice is also sent by prepaid registered post.

10. The
 Landlord shall have the right and is hereby authorised to set-off and appropriate and apply
 any monies due to the Tenant under this Agreement (including but not limited to the Rental
 Deposit and/or the Utilities Deposit), any other indebtedness at any time owing by the Landlord
 to the Tenant, against or on account of the obligations and liabilities of the Tenant hereunder.

11. The
 Tenant hereby agrees to pay interest on the outstanding monthly rental at the rate of ten
 per centum (10%) per annum calculated on a daily basis commencing on the day immediately
 following the due date up to the date of actual payment if the Tenant fails to pay the monthly
 rental or any part thereof on or before the due date.

12. The
 Tenant shall pay for the Landlord's solicitors' costs in respect of this Agreement.
 The stamp duty payable on this Agreement shall be borne and paid by the Tenant.

13. Any
 indulgence granted by the Landlord to the Tenant shall not be regarded as a waiver of his
 rights hereunder and he may at any time insist upon the strict adherence to the provisions
 of this Agreement.

14. Time wherever mentioned in this Agreement shall be of the essence.

15. If
 any of the provisions of this Agreement or part thereof becomes invalid, illegal or unenforceable
 in any respect under any law, the validity, legality and enforceability of the remaining
 provisions shall not in any way be affected or impaired.

16. This
 Agreement shall be governed by and be construed in accordance with the laws for the time
 being in force in Malaysia.

17. In this Agreement where the context so admits:-

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 expression "Landlord" shall include the successors and assigns of the Landlord
 and the expression "Tenant" shall include the successors and permitted assigns
 of the Tenants and where the context so permits, the servants agents invitees or licensees
 of the Tenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Words
 applicable to natural persons include any body of persons company corporation firm or partnership
 corporation or incorporate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Words
 importing the masculine gender only shall include the feminine and neuter genders and vice
 versa and words importing the singular number only shall include the plural and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The
 schedule and annexure referred to in this Agreement shall be construed as in integral part
 of this Agreement to the same extent as if the same have been set forth verbatim herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) An
 obligation to pay money by the Tenant under this Agreement includes an obligation by the
 Tenant to pay any goods and services tax chargeable in respect of that payment All sums made
 payable under this Agreementby the Tenant are exclusive of any goods and services tax. The
 Tenant shall pay to the Landlord an additional amount equal to the goods and services tax
 on any moneys payable to the Landlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. This
 Agreement is subject to the special terms and conditions specified in the Second Schedule
 hereto (if any) and in the event of there being any inconsistency between any such special
 terms and conditions and any of the provisions of this Agreement then such special terms
 and conditions shall prevail.

  <br> [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

**THE FIRST SCHEDULE HEREINBEFORE REFERRED TO**

(which is to be taken, read and construed as an essential part of this Agreement)

---

| | | |
|:---|:---|:---|
| Section 1 | Date of this Agreement | **22 APR 2026** |
| Section 2 | Name and description of the Landlord | **HELLO PROPERTY (M) SDN BHD (Registation No. 199601023472 (395824-U)),** a company incorporate in Malaysia under Companies Act 2016 having its business address at 12th Floor, Menara Cosway, Plaza Berjaya, No.12 Jalan Imbi, 55100 Kuala Lumpur. |
| Section 3 | Name and description of the Tenant | **3KNIGHTS DYNAMICS SDN BHD (Registration No. 202101028283 (1428583-T)),** a company incorporated in Malaysia under Companies Act 2016 and having its business address at Unit 19-2, The Boulevard, Mid Valley City, Lingkaran Syed Putra Utara, 59200 Kuala Lumpur |
| Section 4 | Particulars of the Demised Premises | **Unit No. 19-2** The Boulevard, Mid Valley City, Lingkaran Syed Putra Utara, 59200 Kuala Lumpur measuring approximately 2,024 sq feet |
| Section 5 | Particulars of the Tenancy |  |
| (a) | Commencement Date | 1<sup>st</sup> April 2026 |
| (b) | Duration | Twenty Four (24) months from the Commencement Date |
| (c) | Expiry Date | 31<sup>st</sup> March 2028 |
| Section 6 | Rental Deposit | Ringgit Malaysia Twenty Six Thousand Seven Hundred Sixteen and Cents Eighty (RM26,716.80) only equivalent to three (3) months rental. |

---

---

| | | |
|:---|:---|:---|
| Section 7 | Utilities Deposit | Ringgit Malaysia Eight Thousand Nine Hundred Five and Cents Sixty only (RM8,905.60) equivalent to (1) month rental. |
| Section 8 | Reserved Rent | Ringgit Malaysia Eight Thousand Nine Hundred Five and Cents Sixty (RM8,905.60) only per month. |
| Section 9 | Purpose of Use of the Demised Premises | Office |
| Section 10 | Further Term upon Renewal | Twenty Four (24) months |

---

**THE SECOND SCHEDULE HEREINBEFORE REFERRED TO**

(which is to be taken, read and construed as an essential part of this Agreement}

<u>SPECIAL TERMS AND CONDITIONS</u>

**NOT APPLICABLE**

IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first above written.

<u>The Landlord</u>

---

| | |
|:---|:---|
| SIGNED by |  |
|  | ![](ex10-4_005.jpg) |
| for and on behalf of) | ![](ex10-4_005.jpg) |
| **HELLO PROPERTY (M) SDN BHD** | ![](ex10-4_005.jpg) |
| **(Registation No. 199601023472 (395824-U))** | ![](ex10-4_005.jpg) |
| In the presence of: -) | ![](ex10-4_005.jpg) |

---

HELLO PROPERTY (M) SDN BHD

---

| |
|:---|
| Reg. No.199601023472 (395824-U) |
| 12th Floor, Menara Cosway |
| Plaza Berjaya, 12 Jalan Imbi |
| 55100 Kuala Lumpur, Malaysia |
| Tel: 03-2145 9086 |
| Fax: 03-2145 2278 |

---

---

| | |
|:---|:---|
| ![](ex10-4_006.jpg) |  |
| Witness's Name: | **AW PEI YING** |
| NRIC No.: | Advocate & Solicitor |
|  | Petaling Jaya |
|  | BC/A/3299 |

---

<u>The Tenant</u>

---

| |
|:---|
| ![](ex10-4_007.jpg) |
| ![](ex10-4_007.jpg) |
| ![](ex10-4_007.jpg) |
| ![](ex10-4_007.jpg) |
| ![](ex10-4_007.jpg) |
| ![](ex10-4_007.jpg) |

---

---

| | |
|:---|:---|
| ![](ex10-4_008.jpg) |  |
| Witness's Name:<br> NRIC No. :  | ![](ex10-4_009.jpg) |

---

## Exhibit 10.5

**Exhibit 10.5**

**Funding Conditions**

Fundaztic.com (the "Platform") offers both Conventional and Syariah Compliant products. The FUNDING CONDITIONS as contained herein have distinctive parts covering the Conventional products and for the Syariah Compliant products intended for clear segregation of the funding conditions involved. Please read carefully to understand and be aware of the underlying rules, processes, procedures, terms and conditions of the two separate product offerings before you proceed.

**CONVENTIONAL PRODUCTS FUNDING CONDITIONS**

**1.** **Introduction** 

1.1 These Funding Conditions will apply to each Funding Contract entered into through the Fundaztic online funding platform (the "**Platform**"). Capitalised terms not otherwise defined have the meanings given in clause 15.

1.2 Each time a Funding Request is fulfilled by way of attainment of Funding Offers amounting to the Minimum Funding Goal, the Issuer is immediately deemed to have irrevocably accepted each and every Funding Offer made in respect thereof, and a Funding Contract is (or a number of Funding Contracts are) deemed automatically entered into between the Issuer and the Investor(s) in respect of the resulting Funding. Each Funding Contract is made up of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) these
 Funding Conditions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Key Contract Terms applicable to that Funding.

1.3 Where a Funding is made up of various Funding Parts, a separate Funding Contract is formed between the Issuer of that Funding and each Investor which has provided a Funding Part.

1.4 If you are entering into a Funding Contract as an appointed representative of a partnership, company or other business entity, you are deemed to warrant that you are duly authorised to act on its/their behalf. Breach of this requirement may result in legal action being taken against you personally.

1.5 The relationship between the Issuer and Investor shall be governed exclusively by the relevant Funding Contract. In this regard, the parties agree that in entering into the Funding Contract, they are deemed to have read, understood and agreed to and accepted each and every term and condition in the Funding Contract.

**2.** **Repayment** 

2.1 The Issuer and the Investor agree and acknowledge that the repayment of the total funded amount and interest thereon will depend on the terms of repayment under the Funding Contract for the funding, as set out in the Key Contract Terms or Varied Key Contract Terms (as the case may be), and accordingly :- (a) if the Funding Contract in respect of the funding is a Bullet Repayment Funding Contract, issuer will be required to remit, in full, the total funded amount and the interest thereon in a single bullet repayment at the expiry of the funding tenure of such Bullet Repayment Funding Contract, and (b) if the Funding Contract in respect of the funding is not a Bullet Repayment Funding Contract i.e. if the total funded amount under the Funding Contract is repayable in equal monthly or other scheduled instalments over the tenure thereof, issuer will be required to remit, in full, the total funded amount and the interest thereon.

2.2 The Issuer agrees to repay to the Investor the total Funding Amount at the time(s) and where applicable, by the instalments or bullet repayment as shown in the Key Contract Terms. It is essential that the Issuer makes these payment(s) on time. If the Issuer is late in paying an instalment or the bullet repayment funding contract, as the case may be, the Investor and Peoplender will have the rights detailed in clause 2.6 and clauses 6 and 8 below.

2.3 The Issuer's obligation to make repayment(s) to the Investor will be satisfied by making payment(s) into the Fundaztic Trust Account from the Issuer's specified bank account by remitting the scheduled or bullet repayment set out in the Key Contract Terms by such date as set out in the "My Fundings" section of the Platform by logging onto the Platform using its verified credentials and making payments using either IBG or FPX or other payment methods made available by the Platform. The Origination Fee will be debited upfront from: (a) the Funding before it is transferred to the Issuer, or (b) the Fundaztic Trust Account before disbursement of the Funding to such third party as authorised by the Issuer, as the case may be. In respect of a Funding Contract other than a Bullet Repayment Funding Contract, in addition to the Origination Fee, the first scheduled repayment thereunder may also be deducted upfront from the Funding before it is transferred to the Issuer. The Key Contract Terms in respect of the Funding will expressly set out if the first scheduled repayment due to the Investor(s) thereunder will be deducted upfront from the Funding before it is transferred to the Issuer. For the avoidance of doubt, the Issuer shall continue to assume all of the obligations and liabilities under the Funding Contract in respect of the Funding notwithstanding that the Issuer has authorised us, in writing, to transfer the total Funding to such third party bank account.

2.4 All repayments will be made to Investors without deduction of income tax, withholding taxes or any applicable goods and services tax unless otherwise required by law.

2.5 Where a Funding is made up of various Funding Parts, each repayment made by the Issuer will be pro-rated between the various Funding Contracts, with reference to each Funding Part value and the interest rate associated with that Funding Part, that govern the various Funding Parts, and used:

(a) first towards repaying any arrears of principal and interest rate under the Funding Contract;

(b) second towards paying the current interest rate and principal due in respect of the Funding Amount; and

(c) third towards paying any administration charges, costs, expenses or other fees due to Peoplender or any third party under the Funding Contract or other agreements entered into by the Issuer and/or the Investor, as applicable.

However, once there has been a default under the Funding, Peoplender may, in its sole discretion, reverse the order of the payment and apply any monies received first in paying any administration charges, costs, expenses or other fees incurred in respect of the relevant Funding, second to the outstanding principal of the Funding and third to the outstanding accrued interest rate.

2.6 The Issuer and the Investor agree and acknowledge that Peoplender may, at any time (including before an Event of Default has occurred), reschedule or restructure the repayments under a Funding Contract in respect of which Peoplender (in its sole and absolute discretion) deems is or would be appropriate or necessary to effectively recover the Funding Amount or any part(s) thereof from the Issuer. Where Peoplender has exercised its right to reschedule or restructure the repayments under a Funding Contract, the varied Key Contract Terms thereof will be notified to the respective Issuer and Investor of the Funding Contract on the Platform, and the relevant Issuer and Investor will be deemed to have accepted the varied repayment terms under the varied Key Contract Terms.

**3.** **Interest rate** 

The Issuer agrees to pay each Investor interest on the Funding at the interest rate set out in the Key Contract Terms. Interest on the Funding shall be calculated at the outset of the Funding for the whole period of the Funding and this shall be stated in the Key Contract Terms. Save and except in respect of a Bullet Repayment Funding Contract where the interest therefor (as specified in the Key Contract Terms) shall be paid in full in a single bullet repayment at the expiry of the tenure thereof, interest for all other Funding Contracts (i.e. Funding Contracts other than Bullet Repayment Funding Contracts) shall be paid in regular instalments as specified in the Key Contract Terms.

**4.** **Early Repayment** 

4.1 Should the Issuer wish to repay a Funding early and end the Funding Contract, the Issuer may do so provided that: - (a) it has to repay the entire Funding Amount that it owes to the

Investors under the Funding Contracts in respect of the Funding; (b) it has given Peoplender fifteen (15) Business Days prior written notice in respect thereof; and (c) in respect of a Funding Contract that is not a Bullet Repayment Funding Contract, it has paid, in full, at least six (6) monthly instalments thereunder, including any and all outstanding and overdue instalments as at the time of the written notice.

Peoplender shall grant the Issuer in respect of a Funding Contract other than a Bullet Repayment Funding Contract, a rebate on interest upon such early repayment based on the formula below for Conventional funding:-

---

| | | |
|:---|:---|:---|
| <u>X(X+1)</u><br> Y(Y+1) | x | Total Interest |

---

where:-

X = remaining funding tenure (months)

Y = funding tenure (months)

---

| | | |
|:---|:---|:---|
| Total Interest | = | Funding Amount x interest rate x tenure(months)/12 |

---

There will be no rebate on interest upon early repayment under a Bullet Repayment Funding Contract.

**5.** **Covenants of the Issuer** 

The Issuer covenants with the Investor that, as from the date of the Funding Contract, until all its liabilities under the Funding Contract have been fully discharged:

5.1 the Issuer has the legal capacity to enter into the Funding Contract. If the Issuer is a limited liability partnership, partnership or company, it warrants that its appointed representative(s) has the authority to enter into the Funding Contract on its behalf;

5.2 the Issuer will deliver to Peoplender:

(a) promptly, all notices or other documents dispatched by the Issuer to its shareholders or to its creditors generally;

(b) promptly, all updated notices or other documents, should there be any changes from the notices and/or documents provided earlier to Peoplender during the Funding Application stage;

(c) within fifteen (15) days post issue, any updates to the Issuer's trade/business licence (if any); and

(d) promptly, such financial or other information as Peoplender may, from time to time, reasonably request.

5.3 the Issuer will:

(a) promptly, after becoming aware of them, notify Peoplender of any circumstances (including without limitation, any claims and/or undisclosed liabilities, litigation, arbitration, court or administrative proceedings or investigations involving the Issuer which are current, threatened, pending or otherwise reasonably likely to occur) which could or might result in a material adverse charge in the Issuer's financial condition, business or assets or affect its ability to perform its obligations under a Funding Contract;

(b) comply with all applicable laws and regulations and promptly obtain all consents or authorisations necessary (and do all that is needed to maintain them in full force and effect) under any law or regulation to enable it to perform its obligations under the Funding Contract and to ensure the legality, validity, enforceability and admissibility in evidence of the Funding Contract in any relevant jurisdiction, including Malaysia;

(c) notify Peoplender of any Event of Default promptly on becoming aware of its occurrence;

(d) not sell or dispose off the whole or substantial part of its undertaking, property or assets or ceases to carry on its business or a substantial part of its business as conducted by it when it entered into the Funding Contract; and

(e) carry on and conduct its business in a proper and efficient manner and will not make any substantial change to the general nature or scope of its business as carried on at the date of the Funding Contract.

5.4 the Issuer will, promptly on Peoplender's request, supply (or procure the supply of) such documentation and other evidence as is reasonably requested by Peoplender, including but not limited to documentation/evidence required in order for Peoplender to be able to carry out, and be satisfied that it has complied with, all necessary "know your customer" or other similar checks under all applicable laws and regulations.

5.5 the Issuer agrees that it will not:

(a) borrow any monies or request for financing from its directors, officers, members, partners, shareholders or any other third party that ranks in priority of recovery to the Funding. In the event that the Issuer does make such borrowing or financing (without prejudice to Clause 6) the rights to payment of that loan or financing will be subordinated behind the Funding, except to the extent otherwise required by the applicable insolvency law and any other applicable laws;

(b) enter into any amalgamation, demerger, merger or corporate reconstruction.

**6.** **Events of Default** 

6.1 The Issuer agrees that should any of the events or circumstances set out in clause 6.2 occurs, each shall be deemed to be an Event of Default, and Peoplender may, upon becoming aware of the occurrence of an Event of Default, on the Investors' behalf, terminate all the Funding Contracts relating to a Funding and demand immediate repayment of the Funding whereupon Peoplender shall be entitled forthwith to take such action as may be appropriate against the Issuer, including action to sue and institute by way of civil suit for the recovery of the Funding Amount or any part or parts thereof.

6.2 Each of the following events or circumstances shall be deemed an Event of Default, i.e. if:

(a) in respect of a Funding Contract other than a Bullet Repayment Funding Contract, the Issuer misses, fails to pay or only partially pays any of the monthly instalments or other payment that is due, or in respect of a Bullet Repayment Funding Contract, the Issuer misses or fails to pay, in full, the single bullet repayment on or by the date on which such amount is due;

(b) the Issuer has provided false information(including without limitation the purpose for which the Funding has been requested) or has failed to provide any material information of which it is aware in a way which could have affected the decision to allow the Issuer to register on the Platform, the decision to list Funding Requests on the Platform, the risk scoring grade that Peoplender has given to the Funding, or the information that is provided to Investors in contemplation of their providing funding to the Issuer;

(c) the Issuer has breached the terms of a Funding Contract (including the terms of these Funding Conditions and the Key Contract Terms) and/or any other funding contract that it is a party to(including those relating to a different funding on the Platform) and, in respect of other funding contracts only, either notice has been given to the Issuer ending that funding contract or Peoplender has reasonable grounds to believe that as a result of such breach:

(i) the
 Issuer will also breach the terms of the Funding Contracts (or any of them); or

(ii) any
 of the other events of default stated in this clause will occur;

(d) any legal proceedings, suit or action of any kind whatsoever (whether criminal or civil) is instituted against the Issuer which could or might result in a material adverse charge in the Issuer's financial condition, business or assets or affect its ability to perform its obligations under a Funding Contract;

(e) the Funding is not used for the purposes stated or is used for illegal purposes;

(f) an event or a series of events (whether within or outside Malaysia and whether of a national or an international nature) including any act of violence, terrorism, hostility or war or other calamity has occurred which in Peoplender's opinion:-

(i) could or might affect the Issuer's ability or willingness to fully comply with all or any of its obligations under any Funding Contract or make it improbable that the Issuer would be able to do so; or

(ii) could or might jeopardize the Funding;

(g) a notice or proposal for compulsory acquisition of all or any of the assets of the Issuer is issued or made under or by virtue of an Act of Parliament or other statutory provision;

(h) in Peoplender's opinion, the Issuer has not carried on/ is not carrying on its business affairs in accordance with sound financial and industrial standards and practices;

(i) the Issuer's membership of the Platform is terminated / terminable for any reason under Fundaztic Terms and Conditions;

(j) the Issuer becomes insolvent, or any step is taken which could result in it becoming insolvent, or a petition is presented, or an order made or an effective resolution passed for the winding up or dissolution or for the appointment of a liquidator of the Issuer;

(k) the Issuer ceases to pay its debts or is unable to pay its debts as they fall due or is deemed unable or admits its inability to do so or makes a general assignment for the benefit of or a composition with its creditors or allowed a judgement against it to remain unsatisfied for a period of fourteen (14) days or not discharged or stayed within twenty-one (21) days from the date of the taking of the step or petition;

(l) the Issuer sells or disposes of the whole or substantial part of its undertaking, property or assets or ceases to carry on its business or a substantial part of its business as conducted by it when it entered into the Funding Contract;

(m) notice is given of an intention to appoint an administrator, a petition is filed or a competent court makes an order for the appointment of an administrator in relation to the Issuer;

(n) an encumbrancer takes possession or steps are taken for the appointment of an administrator or receiver or administrative receiver or manager or supervisor or sequestrator over the whole or any substantial part of the undertaking or assets of the Issuer;

(o) any person who has provided a guarantee and indemnity for the Funding or any Funding Part breaches the terms of any guarantee and indemnity or other Fundaztic document that it is a party to, or disputes or threatens to dispute the enforceability of that guarantee and indemnity or other document, or suffers or is likely to suffer a material adverse change to their financial position, or Peoplender has any reason to believe that a guarantee and indemnity or security document has become unenforceable, and in any case, a replacement guarantee and indemnity or security document has not been provided to Peoplender's reasonable satisfaction within fourteen (14) days of a request from Peoplender;

(p) the Issuer (or if any person who has provided a guarantee and indemnity for the Funding or any Funding Part) dies, becomes of unsound mind, becomes bankrupt or makes a voluntary arrangement with anyone that they owe money to;

(q) a claim by taxation authorities of Malaysia (or any other governmental department of agency or other public body) is, or is reasonably likely to be adversely decided against the Issuer and the Issuer does not meet any payment obligation relating to that claim within the required period;

(r) there is a change in applicable law or regulations or in the financial, economic or political conditions in Malaysia which in Peoplender's opinion (which opinion shall be final and binding) would render it inadvisable or impractical or impossible or illegal or unlawful for the Funding to be/ continue to be made available or for the Issuer to perform or comply with any one or more of its obligations under the Funding Contract;

(s) a material adverse change occurs in the financial condition of Issuer, or Peoplender believes that the prospect of payment or performance of the Issuer's liabilities to the Investors is impaired; or

(t) any event or a series of events whether related or not has or have occurred which in Peoplender's opinion (which opinion shall be final and binding upon the Issuer) could or might affect or prejudice the ability or willingness of the Issuer to comply with all or any of its respective obligations hereunder.

**7.** **Fees & Charges** 

7.1 Where a Funding has been granted to the Issuer, the Issuer shall be required to pay fees to Peoplender to compensate it for its role in administering and facilitating the services provided to the Issuer on the Platform. This shall include the Origination Fees as per the prevailing fee tariff published on the Platform. The Origination Fees will be: (a) included in the total charge for credit in the Key Contract Terms and deducted from the amount borrowed or financed before being transferred to the Issuer so the Issuer will receive the amount borrowed or financed less the Origination Fees (and, where applicable, the amount of the first scheduled repayment may also be debited upfront pursuant to clause 2.3 above), or (b) will be notified to you on the Platform and debited from the Fundaztic Trust Account before the total Funding is transferred to such third party as authorised in writing by the Issuer so such third party will receive the total Funding without any deductions thereto. The Issuer may also be liable to pay such other fees as may be determined by Peoplender and informed to the Issuer from time to time.

7.2 The Investor shall be obliged to pay to Peoplender a Platform Management Fee which will be deducted from:- (a) in respect of a Funding Contract other than a Bullet Repayment Funding Contract, each repayment to the Investor, and (b) in respect of a Bullet Repayment Funding Contract, the single bullet repayment to the Investor. The Platform Management Fee is imposed to cover the costs of running the Platform and administering the Funding.

7.3 Other fees or charges that may be charged by Peoplender (or by any collection agency Peoplender may appoint in relation to the Issuer's Funding Contracts) and which will be added to the Funding or outstanding arrears are:

(a) once a Funding repayment has been outstanding for seven (7) days or more, for conventional funding, Peoplender (or any collection agency appointed by it to attempt to collect overdue money from an Issuer) will charge an administration fee of (i) RM100.00; or (ii) two percent (2%) of the missed payment, whichever is the higher, subject to a maximum of RM250.00 for each Funding Contract which shall be payable immediately;

(b) In respect of a Bullet Repayment Funding Contract which has been deemed to have triggered an event of default, interest (**"Additional Interest"**) from the relevant due date until full repayment is made (pro-rated on a daily basis) at the prescribed interest rate on the total funded amount as set out in the Key Contract Terms or Varied Key Contract Terms (as the case may be), and retain such Additional Interest.

(c) where a field agent has been employed as part of the collections process, Peoplender or its collection agency may charge a fee; and

(d) all litigation, enforcement and recovery costs and expenses, including (but not limited to) legal fees and expenses, to cover litigation or enforcement of any judgement in each case to recover any Funding or outstanding arrears.

The Issuer agrees that Peoplender reserves the right to waive, reduce the aforesaid fees from time to time. Any such changes will be notified to the Issuer and Investors on the Platform.

7A. Transfer by Investors

7A.1 Each Investor may, subject to the requirements under the applicable laws and conditions determined by Peoplender from time to time, transfer by assignment his / her / its right, title and interest in any Funding Contract and all associated Funding Parts and all associated rights under the Fundaztic Terms and Conditions to any other registered Investor on the Platform.

7A.2 The Issuer's rights and obligations under a Funding Contract that has been transferred shall not be adversely affected in any way whatsoever.

7A.3 An Issuer shall not be entitled to assign or transfer its rights or obligations under any Funding Contract.

7A.4 A transfer by assignment pursuant to clause 7A.1 of these Funding Conditions shall be effected by the transferring Investor and the new Investor entering into a Transfer Certificate. A Transfer Certificate will be entered into by electronic means in accordance with the Fundaztic Terms and Conditions upon the acceptance by the new Investor of an offer by the transferring Investor to sell a Funding Part (including using any automatic bid facility) and this will have the same effect as if the Transfer Certificate was signed in a hard single copy.

7A.5 At the time of entry into of a Transfer Certificate and notification to the Issuer (**"Transfer Time"**): (a) the transferring Investor assigns absolutely to the new Investor the rights, title and interest in the relevant Funding Contract and all associated rights; (b) the Issuer and the transferring Investor shall be released from further obligations towards one another under the relevant Funding Contract (**"Discharged Obligations"**); and (c) the Issuer and the new Investor shall assume those Discharged Obligations towards one another. The new Investor will, with effect from the Transfer Time, become a party to the relevant Funding Contract as an "Investor".

7A.6 The Issuer confirms its agreement to these arrangements and waives any requirement for it to be a party to, or to receive a copy of the Transfer Certificate. Without prejudice to the aforesaid, Peoplender retains the right to deliver a copy of the Transfer Certificate electronically to the Issuer or give electronic notice to the Issuer of such assignment of the Funding Contract(s) and the Issuer accepts such notice as having been duly delivered.

7A.7 There shall otherwise be no effect on the Key Contract Terms applicable to that Funding Contract.

7A.8 Any fees charged by Peoplender for administering a transfer by assignment shall be paid by

the relevant Investors in accordance with the Fundaztic Terms and Conditions, and the Issuer shall not be liable for any fees in connection with the transfer.

**8.** **Appointment of Collection Agent** 

8.1 Each Investor has agreed and irrevocably and unconditionally authorised Peoplender to pursue the Issuer and/or any guarantor(s) in respect of the Funding (directly or indirectly) in Peoplender's own name as agent for and on behalf of such Investor for collection of monies due and owing in the event of a default in payment of any Funding Parts or for any other Event of Default here under or under any such guarantee and indemnity provided to the Investor. The Issuer hereby confirms its agreement to these arrangements.

8.2 The Issuer and Investors have agreed that Peoplender may, in turn appoint solicitors and/or recovery or debt collection agent(s). The Investors have also authorised Peoplender to take all and any reasonable actions to protect Peoplender's, or the Investors', rights as available in any relevant jurisdiction which may include:

● registration
 of liens, charges and rights as available; and

● any
 other action as available from time to time in accordance with the applicable laws.

8.3 The Issuer and Investors have acknowledged and agreed that if Peoplender (or the collection agent appointed by it) is unable to collect any debt or part thereof under the Funding Contract(s) and/or any guarantee and indemnity, the Investors will retain the right to enforce their rights under the relevant Funding Contract and/or any such guarantee and indemnity directly against the Issuer and/or the guarantor(s). In such a situation, it is expressly agreed by the Issuer and the Investors that upon the request of an Investor, Peoplender shall provide such Investor with the relevant contact details of the Issuer and/or the guarantor(s) to enable the Investor to pursue its claim directly. The Issuer and the Investors hereby expressly agree that a written certification or certifications by Peoplender identifying the Issuer or Investors or guarantor(s) in respect of a Funding Contract will be final and conclusive evidence of the identity of such Issuer or Investors.

**9.** **Information Undertakings** 

9.1 If the Issuer is, or at any time becomes, aware of any of the following circumstances, claims or potential claims then the Issuer agrees with the Investor that it will promptly provide to Peoplender full written details of such circumstances, claims or potential claims:

(a) circumstances (including without limitation any claims, undisclosed liabilities, litigation, arbitration, court proceedings or investigations which are current, threatened, pending or otherwise reasonably likely to occur against the Issuer by any third party) which could or might result in a material adverse change in the Issuer's financial condition, business or assets;

(b) any current or future claim (or potential claim) by the taxation authorities of Malaysia (or any other governmental department or agency or other public body) against the Issuer; and/or

(c) the occurrence of any event constituting an Event of Default or a potential Event of Default.

9.2 The Issuer shall, from time to time, on request from Peoplender, provide Peoplender with such information (including documents) as it may require about the Issuer's financial condition, business and affairs, and compliance with the terms of the Funding Contract.

9.3 The Issuer shall permit Peoplender's employees or agents on reasonable notice and during business hours to attend and inspect its premises and any of the Issuer's books, accounts and records and to make copies of any such information. The Issuer agrees to meet with any such employee or agent within five (5) Business Days of request by Peoplender and answer all reasonable queries of such employee or agent.

**10.** **No Reliance** 

10.1 The Issuer confirms that, in entering into each Funding Contract, it has not relied on any representation made by or on behalf of Peoplender or the Platform or any of the Investors or on any written statement, advice, opinion or information given to the Issuer in good faith by or on behalf of Peoplender, the Platform or any of the Investors; and has been and will continue to be solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with each Funding Contract.

10.2 The Investors confirm that, in entering each Funding Contract and/or Transfer Certificate, it/ he/ she has not relied on any representation made by or on behalf of Peoplender, the Platform or the Issuer (except the representations made by the Issuer in these Funding Conditions), or on any written statement, advice, opinion or information given to the Investors in good faith by or on behalf of Peoplender or the Platform; and has been and will continue to be solely responsible for making its/ his/ her own independent appraisal and investigation of all risks arising under or in connection with each Funding Contract and/or Transfer Certificate.

**11.** **General** 

11.1 The Funding Conditions and each Funding Contract are governed by and construed in accordance with the laws of Malaysia, and each Investor and Issuer submits to the non-exclusive jurisdiction of the courts in Malaysia.

The Investor and Issuer hereby expressly agree(s) that Peoplender reserves the right to institute legal proceeding in the courts of any State in Malaysia and the Investor and Issuer hereby expressly agree(s) to waive any and all objection on the ground of forum non conveniens or any other jurisdictional objection.

11.2 If any part of the Funding Conditions is at any time held by a court of competent jurisdiction or found to be void,invalid, illegal or unenforceable, then it shall be treated as changed or reduced, only to the extent minimally necessary to bring it within the laws of that jurisdiction and to prevent it from being void and it shall be binding in that changed or reduced form. Subject to that, each provision shall be interpreted as severable and shall not in any way affect the validity or enforceability of the remainder of the Funding Conditions or the Funding Contract.

11.3 Any failure on the part of either party to exercise or enforce any right conferred upon it by a Funding Contract shall not be deemed to be a waiver of any such right or operate so as to prevent the exercise or enforcement of any right conferred upon the parties by the Funding Contract, and neither shall any waiver by either party of a breach of any provision of these Funding Conditions and/or the Funding Contract be considered to be a waiver of any other or later breach of the same, or any other, provision.

11.4 The records kept by Peoplender shall be conclusive of the facts and matters they purport to record.

11.5 The Issuer being a company (private limited or unlisted public) or partnership or limited liability partnership, by entering into the Funding Contract, the representative of the Issuer shall be required to make the following confirmation on the Platform: "*I confirm that I am authorised by the business I represent to enter into this agreement for and on behalf of the business I represent and that I am authorised to bind the business I represent to the terms of this agreement.*"

11.6 The parties shall do and cause to be done all such acts, matters and things and shall execute and deliver all such documents and instruments as shall be required to enable the parties to perform their respective obligations under, and to give effect to the transactions contemplated by, these Funding Conditions and/ or the Funding Contract.

11.7 These Funding Conditions, the Funding Contract and the documents referred to in it constitute the entire understanding and agreement of the parties relating to the subject matter of these Funding Conditions and the Funding Contract and supersedes, cancels and replaces all prior agreements between the parties which relate to the same subject matter whether written, oral, implied or as may be inferred from the correspondence, oral statements or conduct of the parties.

11.8 Save as it otherwise expressly stated herein, no amendments or variations to the Funding Contract (including these Funding Conditions) shall be effective unless agreed in writing by Peoplender and the duly authorised representatives of the parties.

11.9 Any notices to be given to the Issuer/Investor/Peoplender in relation to any Funding Contract shall be sent by email to the said party care of Fundaztic at *support@fundaztic.com* or *creditadmin@fundaztic.com* quoting the sender's and recipient's unique reference number allocated by Peoplender or verified e-mail address (as applicable).

Where Investors pursue their claims against the Issuer directly in the situation described in clause 8.3 above (at which time the identities and contact details of the Investors and the Issuer shall be made known to each other) all notices or demands to be given by either party in relation to the Funding Contract shall be made in writing and sent by e-mail, personally, by courier, by registered mail, or by facsimile to the last known correspondence, fax or e-mail address provided by such party. The unique reference numbers of the parties as allocated by Peoplender should be quoted in the said notices or demands. Notice by e-mail shall be deemed to be served upon and received upon being sent. Any notice sent by registered post shall be deemed to have been served on the fifth (5th) day after the date on which it is posted. Any notice sent by facsimile shall be deemed to have been served on the date on which such facsimile is transmitted. In each case, if the date of delivery is not a Business day, the date of service shall be next succeeding Business day.

Any legal notice, demand, writ or legal process issued by Peoplender against the Issuer/Investor shall be served by e-mail or by facsimile or by registered post to the e-mail address or facsimile number or the last known correspondence address provided by the Issuer/Investor to Peoplender. Any legal notice, demand, writ or legal process sent by e-mail shall be deemed to be served upon and received by the Investor/Issuer upon being sent by Peoplender. Any legal notice, demand, writ or legal process sent by registered post shall be deemed to have been served on the fifth (5th) day after the date on which it is posted (including the date of posting). Any legal notice, demand, writ or legal process sent by facsimile shall be deemed to have been served on the date on which such facsimile is transmitted. In each case, if the date of delivery is not a business day, the date of service shall be the next succeeding business day.

11.10 The Issuer and the Investors undertake that it/ he/ she shall not at any time after the date of the Funding Contract use, divulge or communicate to any person (except to professional representatives or advisers or as may be required by law or any legal or regulatory authority) any Confidential Information, and will use best endeavours to prevent the unauthorised publication or disclosure of any Confidential Information, and will only use such Confidential Information for the purposes of proposing, considering or making transactions through the Platform.

11.11 If any goods and services tax or any other similar tax is chargeable on any sum payable by the Issuer to the Investors, or by the Issuer to Peoplender, or by the Investors to Peoplender, the Issuer or the Investors, as the case may be, shall pay to the relevant party (in addition to and simultaneously with the payment of such sum) an amount equal to the amount of the goods and services tax or any such other tax payable.

11.12 The Issuer and Investor hereby expressly agree that a written confirmation signed by a duly authorised representative of Peoplender and issued by Peoplender shall be final and conclusive proof of the Issuer's indebtedness under the Funding Contract. Where the Issuer has incurred outstanding debts from more than one Funding Contract, the Issuer and Investor hereby expressly agree that a written confirmation signed by a duly authorised representative of Peoplender and issued by Peoplender shall be final and conclusive proof of the Issuer's total indebtedness under all the Funding Contracts.

**12.** **Service and Complaints** 

12.1 The Issuer should contact Peoplender if there are any terms of a Funding Contract it wishes to discuss. Alternatively the Issuer may wish to seek independent advice to help it fully understand the Funding Contract and the implications of its terms.

12.2 If the Issuer or Investor wishes to make a complaint about the Funding Contract or the Platform, they may do so in person, in writing or by post or email or by telephone. Please see Fundaztic's Complaints Procedure (accessible on the Platform at "Complaints Procedure").

**13.** **Interpretation** 

13.1 Unless the context otherwise requires,reference in these Funding Conditions to:

(a) persons include individuals, corporations, and unincorporated bodies or associations that are recognised at law (whether or not having a separate legal personality and irrespective of their jurisdiction or origin, incorporation or residence);

(b) a party means a party to these Funding Conditions (namely, the Issuer and the Investor) and includes their respective successors and permitted assigns;

(c) Clauses and Schedules shall be references to the relevant clause or schedule of these Funding Conditions; and a reference to a paragraph is to the relevant paragraph in the Schedule in which it appears;

(d) the terms "including", "include", "in particular" or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms; and

(e) the singular includes the plural (and vice versa) and use of any gender includes the other genders.

13.2 The headings in these Funding Conditions are for convenience only and shall not affect the construction or interpretation of these Funding Conditions.

13.3 Any reference to these Funding Conditions, Fundaztic Terms and Conditions, contract or document includes any amendments or variations thereto made from time to time and any other instrument entered into supplemental thereto or in substitution thereof.

13.4 Save as it otherwise expressly stated herein,any liberty or power or discretion which may be exercised or any determination which may be made hereunder by Peoplender may be exercised or made in Peoplender's absolute and unfettered discretion and Peoplender shall not be under any obligation to give any reason therefor. For the avoidance of doubt, the Issuer and the Investors acknowledge and agree that they will not challenge Peoplender's authority granted and/or Peoplender's discretion exercised here under or under the Fundaztic's Terms and Conditions.

13.5 The term "Issuer" in these Funding Conditions shall, in reference to an entity established as a partnership or sole proprietorship, include, where the context requires, any partner or sole proprietor of such Issuer.

**14.** **Defined terms** 

14.1 In these Funding Conditions and each Funding Contract the following words have the meanings set out next to them in the table below:

---

| | |
|:---|:---|
| **"Issuer"** | an entity registered on the Platform for the purpose of raising funds via the Platform. |
| **"Bullet Repayment Funding Contract"** | The Funding Contract(s) in respect of a Funding under which repayment of the Funding Amount thereunder will be required to be made by the Issuer in a single bullet repayment at the expiry of the tenure thereof. |
| **"Business Day"** | any day except a Saturday, Sunday or public holiday and on which banks in Kuala Lumpur are open for business. |
| **"Confidential Information"** | all information in whatever form (including in visual, oral or electronic form) relating to Peoplender or any Investor (including all Investor profiles) or a company that was previously an Investor which is provided or disclosed through the Platform (or to any employees or agents) in connection with the use of the Platform. |
| **"Event of Default"** | any of the events as described in clause 6 of these Funding Conditions. |
| **"Key Contract Terms"** | the summary of the key commercial terms applicable to a particular Funding and Funding Contract made on a single occasion between an Issuer and each relevant Investor and shall include where applicable, any varied Key Contract Terms. |

---

---

| | |
|:---|:---|
| **"Investor"** or **"Investors"** | the individuals or entities registered on the Platform for the purposes of investing funds via the Platform. |
| **"Funding"** | the aggregate amount(s) of funds raised by an Issuer pursuant to a Funding Contract or multiple Funding Contracts entered into between an Issuer and an Investor (or multiple Investors). |
| **"Funding Amount "** | in respect of a Funding, the total amount of principal and interest and any applicable fees outstanding under the Funding Contract or multiple Funding Contracts relating to that Funding at the time of calculation. |
| **"Funding Conditions"** | these Funding Conditions. |
| **"Funding Contract"** | the agreement governing the terms on which an Investor has provided a Funding Part to an Issuer, in each case made up of the Funding Conditions and Key Contract Terms applicable to the relevant Funding. A Funding Contract constitutes an "investment note" within the meaning of Chapter 13 of the Guidelines on Recognized Markets issued by the Securities Commission Malaysia. |
| **"Funding Offer"** | an offer by an Investor to provide funding to an Issuer the whole or part of the Funding Amount requested pursuant to a Funding Request. |
| **"Funding Part"** | in respect of a Funding which has been provided by multiple Investors, the part of a Funding which has been provided by a particular Investor. |
| **"Funding Request"** | a request for funding by an Issuer which is listed on the Platform. |
| **"Platform Management Fee"** | the fee charged by Peoplender to Investors to cover the cost of administering Funding Contracts, as specified in clause 7.2. |
| **"Minimum Funding Goal"** | in relation to a Funding Request, an amount equivalent to at least eighty per cent (80%) of the total amount to be raised pursuant to a Funding Request within the relevant funding period. |
| **"Peoplender"** | Peoplender Sdn Bhd (Company No. 1169655-M), the operator of the Platform. |
| **"Fundaztic Trust Account"** | a segregated trust account established and maintained by a licensed third party administrator in a bank licensed under the Financial Services Act 2013 or Islamic Financial Services Act 2013 for the sole purpose of holding funds to which the Issuer and or the Investor is beneficially entitled to. |
| **"Fundaztic Terms and Conditions"** | the Issuer Terms and/or the Investor Terms, and/or a Funding Contract and/or any other terms and conditions in relation to the Platform which are applicable to the Issuer or the Investors, as the case may be. |
| **"Platform"** | the internet marketplace which Peoplender operates at <u>www.Fundaztic.com</u> for the purpose of matching Funding Request and Funding Offers. |
| **"Origination Fees"** | the fees charged by Peoplender to the Issuer for enabling the Issuer to borrow on the Platform, as specified in clause 7.1. |
| **"Transfer Certificate"** | the pre-determined form to be entered into between two Investors who have agreed on the Platform to buy and sell Funding Part(s) and assign their rights under the relevant Funding Contract(s). |

---

---

| | |
|:---|:---|
| */s/ Lim Seow Leong* | */s/ Chu Hoon Weng* |
| **Lim Seow Leong** | **Chu Hoon Weng** |
| **860827435273** | **860130296269**<br>|
| **Personal Banking Details :-** | **Personal Banking Details :-**<br>|
| **Bank Name :** MAYBANK | **Bank Name :** OCBC |
| **Bank Account No. :** 108057098570 | **Bank Account No. :** 7012518252 |

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______This is the end of the Funding Conditions for Conventional Products. The following Funding Conditions are for Syariah Compliant Products______

**SYARIAH COMPLIANT PRODUCTS FUNDING CONDITION**

**1.** **Introduction** 

1.1 These Funding Conditions will apply to each Funding Contract entered into through the Fundaztic online funding platform (the "**Platform**"). Capitalised terms not otherwise defined have the meanings given in clause 15.

1.2 Each time a Funding Request is fulfilled by way of attainment of Funding Offers amounting to the Minimum Funding Goal, the Issuer is immediately deemed to have irrevocably accepted each and every Funding Offer made in respect thereof, and a Funding Contract is (or a number of Funding Contracts are) deemed automatically entered into between the Issuer and the Investor(s) in respect of the resulting Funding. Each Funding Contract is made up of:

(a) these
 Funding Conditions; and

(b) the
 Key Contract Terms applicable to that Funding.

1.3 Where a Funding is made up of various Funding Parts, a separate Funding Contract is formed between the Issuer of that Funding and each Investor which has provided a Funding Part.

1.4 If you are entering into a Funding Contract as an appointed representative of a partnership, company or other business entity, you are deemed to warrant that you are duly authorised to act on its/their behalf. Breach of this requirement may result in legal action being taken against you personally.

1.5 The relationship between the Issuer and Investor shall be governed exclusively by the relevant Funding Contract. In this regard, the parties agree that in entering into the Funding Contract, they are deemed to have read, understood and agreed to and accepted each and every term and condition in the Funding Contract.

1.6 The Islamic funding is based on the Shariah principle of Murabahah (via Tawarruq) arrangement for the underlying contract. The Investor(s) and the Issuer(s) hereby appoint Peoplender as the agent or wakil to perform all necessary requirements for the execution of the said arrangement.

1.7 The principle of Murabahah (via Tawarruq) arrangement shall be applied with the following manner:

(i) Pursuant to this Funding Condition, upon successful funding of the Islamic funding note, Peoplender on behalf of the Issuer shall execute the Purchase Request (refer Appendix A);

(ii) Pursuant to the above, Peoplender (acting on behalf of Investor) shall purchase the

commodities from the commodity supplier at the purchase price which is equivalent to the funding amount raised (**"Purchase Price"**) on a spot payment basis.

(iii) Upon acquiring the commodities, Peoplender (acting on behalf of the Investor) sells the commodities to the Issuer pursuant to the Offer for Sale (refer Appendix B) at the price which is equivalent to the Purchase Price plus profit (**"Sale Price"**) on a deferred payment basis.

(iv) Pursuant to the Acceptance to the Offer for Sale (refer Appendix C), Peoplender (acting on behalf of Issuer) accepts the sale and subsequently sells the commodities to commodity buyer at price equivalent to the Purchase Price on a spot payment basis. The proceed of the sale shall be disbursed to the Issuer.

**2.** **Payment** 

2.1 The Issuer and the Investor agree and acknowledge that the payment of the total funded amount and profit thereon will depend on the terms of payment under the Funding Contract for the funding, as set out in the Key Contract Terms or Varied Key Contract Terms (as the case may be), and accordingly :- (a) if the Funding Contract in respect of the funding is a Bullet Payment Funding Contract, issuer will be required to remit, in full, the total funded amount and the profit thereon in a single bullet payment at the expiry of the funding tenure of such Bullet Payment Funding Contract, and (b) if the Funding Contract in respect of the funding is not a Bullet Payment Funding Contract i.e. if the total funded amount under the Funding Contract is payable in equal monthly or other scheduled instalments over the tenure thereof, issuer will be required to remit, in full, the total funded amount and the profit thereon.

2.2 The Issuer agrees to pay to the Investor the total Funding Amount at the time(s) and where applicable, by the instalments or bullet payment as shown in the Key Contract Terms. It is essential that the Issuer makes these payment(s) on time. If the Issuer is late in paying an instalment or the bullet payment funding contract, as the case may be, the Investor and Peoplender will have the rights detailed in clause 2.6 and clauses 6 and 8 below.

2.3 The Issuer's obligation to make payment(s) to the Investor will be satisfied by making payment(s) into the Fundaztic Trust Account from the Issuer's specified bank account by remitting the scheduled or bullet payment amount(s) set out in the Key Contract Terms by such date as set out in the"My Fundings" section of the Platform by logging onto the Platform using its verified credentials and making payments using either IBG or FPX or other payment methods made available by the Platform. The Origination Fee will be debited upfront from: (a) the Funding before it is transferred to the Issuer, or (b) the Fundaztic Trust Account before disbursement of the Funding to such third party as authorised by the Issuer, as the case may be. In respect of a Funding Contract other than a Bullet Payment Funding Contract, in addition to the Origination Fee, the first scheduled payment thereunder may also be deducted upfront from the Funding before it is transferred to the Issuer. The Key Contract Terms in respect of the Funding will expressly set out if the first scheduled payment due to the Investor(s) thereunder will be deducted upfront from the Funding before it is transferred to the Issuer. For the avoidance of doubt, the Issuer shall continue to assume all of the obligations and liabilities under the Funding Contract in respect of the Funding notwithstanding that the Issuer has authorised us, in writing, to transfer the total Funding to such third party bank account.

2.4 All payments will be made to Investors without deduction of income tax, withholding taxes or any applicable goods and services tax unless otherwise required by law.

2.5 Where a Funding is made up of various Funding Parts, each payment made by the Issuer will be pro-rated between the various Funding Contracts, with reference to each Funding Part value and the profit rate associated with that Funding Part, that govern the various Funding Parts, and used:

(a) first towards paying any arrears of Purchase Price or profit rate under the Funding Contract;

(b) second towards paying the current profit rate or Purchase Price due in respect of the Funding Amount; and

(c) third towards paying any administration charges, costs, expenses or other fees due to Peoplender or any third party under the Funding Contract or other agreements entered into by the Issuer and/or the Investor, as applicable.

However, once there has been a default under the Funding, Peoplender may, in its sole discretion, reverse the order of the payment and apply any monies received first in paying any administration charges, costs, expenses or other fees incurred in respect of the relevant Funding, second to the outstanding Purchase Price of the Funding and third to the outstanding accrued profit rate.

2.6 The Issuer and the Investor agree and acknowledge that Peoplender may, at any time (including before an Event of Default has occurred), reschedule or restructure the payments under a Funding Contract in respect of which Peoplender (in its sole and absolute discretion) deems is or would be appropriate or necessary to effectively recover the Funding Amount or any part(s) thereof from the Issuer. Where Peoplender has exercised its right to reschedule or restructure the payments under a Funding Contract, the varied Key Contract Terms thereof will be notified to the respective Issuer and Investor of the Funding Contract on the Platform, and the relevant Issuer and Investor will be deemed to have accepted the varied payment terms under the varied Key Contract Terms.

**3.** **Profit rate** 

The Issuer agrees to pay each Investor profit on the Funding at the profit rate set out in the Key Contract Terms. Profit on the Funding shall be calculated at the outset of the Funding for the whole period of the Funding and this shall be stated in the Key Contract Terms. Save and except in respect of a Bullet Payment Funding Contract where the profit therefor (as specified in the Key Contract Terms) shall be paid in full in a single bullet payment at the expiry of the tenure thereof, profit for all other Funding Contracts (i.e. Funding Contracts other than Bullet Payment Funding Contracts) shall be paid in regular instalments as specified in the Key Contract Terms.

For Islamic financing products, the profit rate adopted shall be fixed in determining the Sale Price. Peoplender may adopt Contracted and Prevailing Profit Rate mechanism in determining the applicable profit rate. In the event the mechanism is applied, Murabahah will be executed using Contracted Profit Rate as per the Key Contract Terms/Varied Key Contract Terms. Under this mechanism, the Murabahah will be contracted at a higher profit rate i.e., Contracted Profit Rate. Payment by the Issuer will however be calculated on the Prevailing Profit Rate which would be lower than or at par with the Contracted Profit Rate equivalent to the instalment payment which will be displayed in the Key Contract Terms/Varied Key Contract Term. In the event that payment is received on a timely basis for full settlement, the amount difference between Contracted Profit Rate and Prevailing Profit Rate shall be given as Ibra'.

**4.** **Early Payment** 

4.1 Should the Issuer wish to pay a Funding early and end the Funding Contract, the Issuer may do so provided that: - (a) it has to pay the entire Funding Amount payable to the Investors under the Funding Contracts in respect of the Funding; (b) it has given Peoplender fifteen (15) Business Days prior written notice in respect thereof; and (c) in respect of a Funding Contract that is not a Bullet Payment Funding Contract, it has paid, in full, at least six (6) monthly instalments thereunder, including any and all outstanding and overdue instalments as at the time of the written notice.

For Islamic funding, the Ibra' shall be granted by the Investor pursuant to clause 13.

**5.** **Covenants of the Issuer** 

The Issuer covenants with the Investor that, as from the date of the Funding Contract, until all its liabilities under the Funding Contract have been fully discharged:

5.1 the Issuer has the legal capacity to enter into the Funding Contract. If the Issuer is a limited liability partnership, partnership or company, it warrants that its appointed representative(s) has the authority to enter into the Funding Contract on its behalf;

5.2 the Issuer will deliver to Peoplender:

(a) promptly, all notices or other documents dispatched by the Issuer to its shareholders or to its creditors generally;

(b) promptly, all updated notices or other documents, should there be any changes from the notices and/or documents provided earlier to Peoplender during the Funding Application stage;

(c) within fifteen (15) days post issue, any updates to the Issuer's trade/business licence (if any); and

(d) promptly, such financial or other information as Peoplender may, from time to time, reasonably request.

5.3 the Issuer will:

(a) promptly, after becoming aware of them, notify Peoplender of any circumstances (including without limitation, any claims and/or undisclosed liabilities, litigation, arbitration, court or administrative proceedings or investigations involving the Issuer which are current, threatened, pending or otherwise reasonably likely to occur) which could or might result in a material adverse charge in the Issuer's financial condition, business or assets or affect its ability to perform its obligations under a Funding Contract;

(b) comply with all applicable laws and regulations and promptly obtain all consents or authorisations necessary (and do all that is needed to maintain them in full force and effect) under any law or regulation to enable it to perform its obligations under the Funding Contract and to ensure the legality, validity, enforceability and admissibility in evidence of the Funding Contract in any relevant jurisdiction, including Malaysia;

(c) notify Peoplender of any Event of Default promptly on becoming aware of its occurrence;

(d) not sell or dispose off the whole or substantial part of its undertaking, property or assets or ceases to carry on its business or a substantial part of its business as conducted by it when it entered into the Funding Contract; and

(e) carry on and conduct its business in a proper and efficient manner and will not make any substantial change to the general nature or scope of its business as carried on at the date of the Funding Contract.

5.4 the Issuer will, promptly on Peoplender's request, supply (or procure the supply of) such documentation and other evidence as is reasonably requested by Peoplender, including but not limited to documentation/evidence required in order for Peoplender to be able to carry out, and be satisfied that it has complied with, all necessary "know your customer" or other similar checks under all applicable laws and regulations.

5.5 the Issuer agrees that it will not:

(a) borrow any monies or request for financing from its directors, officers, members, partners, shareholders or any other third party that ranks in priority of recovery to the Funding. In the event that the Issuer does make such borrowing or financing (without prejudice to Clause 6) the rights to payment of that loan or financing will be subordinated behind the Funding, except to the extent otherwise required by the applicable insolvency law and any other applicable laws;

(b) enter into any amalgamation, demerger, merger or corporate reconstruction.

**6.** **Events of Default** 

6.1 The Issuer agrees that should any of the events or circumstances set out in clause 6.2 occurs, each shall be deemed to be an Event of Default, and Peoplender may, upon becoming aware of the occurrence of an Event of Default, on the Investors' behalf, terminate all the Funding Contracts relating to a Funding and demand immediate payment of the Funding whereupon Peoplender shall be entitled forthwith to take such action as may be appropriate against the Issuer, including action to sue and institute by way of civil suit for the recovery of the Funding Amount or any part or parts thereof.

6.2 Each of the following events or circumstances shall be deemed an Event of Default, i.e. if:

(a) in respect of a Funding Contract other than a Bullet Payment Funding Contract, the Issuer misses, fails to pay or only partially pays any of the monthly instalments or other payment that is due, or in respect of a Bullet Payment Funding Contract, the Issuer misses or fails to pay, in full, the single bullet payment on or by the date on which such amount is due;

(b) the Issuer has provided false information (including without limitation the purpose for which the Funding has been requested) or has failed to provide any material information of which it is aware in a way which could have affected the decision to allow the Issuer to register on the Platform, the decision to list Funding Requests on the Platform, the risk scoring grade that Peoplender has given to the Funding, or the information that is provided to Investors in contemplation of their providing funding to the Issuer;

(c) the Issuer has breached the terms of a Funding Contract (including the terms of these Funding Conditions and the Key Contract Terms) and/or any other funding contract that it is a party to (including those relating to a different funding on the Platform) and, in respect of other funding contracts only, either notice has been given to the Issuer ending that funding contract or Peoplender has reasonable grounds to believe that as a result of such breach:

(i) the Issuer will also breach the terms of the Funding Contracts (or any of them); or

(ii) any of the other events of default stated in this clause will occur;

(d) any legal proceedings, suit or action of any kind whatsoever (whether criminal or civil) is instituted against the Issuer which could or might result in a material adverse charge in the Issuer's financial condition, business or assets or affect its ability to perform its obligations under a Funding Contract;

(e) the Funding is not used for the purposes stated or is used for illegal purposes;

(f) an event or a series of events (whether within or outside Malaysia and whether of a national or an international nature) including any act of violence, terrorism, hostility or war or other calamity has occurred which in Peoplender's opinion:-

(i) could or might affect the Issuer's ability or willingness to fully comply with all or any of its obligations under any Funding Contract or make it improbable that the Issuer would be able to do so; or

(ii) could or might jeopardize the Funding;

(g) a notice or proposal for compulsory acquisition of all or any of the assets of the Issuer is issued or made under or by virtue of an Act of Parliament or other statutory provision;

(h) in Peoplender's opinion, the Issuer has not carried on/ is not carrying on its business affairs in accordance with sound financial and industrial standards and practices;

(i) the Issuer's membership of the Platform is terminated / terminable for any reason under Fundaztic Terms and Conditions;

(j) the Issuer becomes insolvent, or any step is taken which could result in it becoming insolvent, or a petition is presented, or an order made or an effective resolution passed for the winding up or dissolution or for the appointment of a liquidator of the Issuer;

(k) the Issuer ceases to pay its debts or is unable to pay its debts as they fall due or is deemed unable or admits its inability to do so or makes a general assignment for the benefit of or a composition with its creditors or allowed a judgement against it to remain unsatisfied for a period of fourteen (14) days or not discharged or stayed within twenty-one (21) days from the date of the taking of the step or petition;

(l) the Issuer sells or disposes of the whole or substantial part of its undertaking, property or assets or ceases to carry on its business or a substantial part of its business as conducted by it when it entered into the Funding Contract;

(m) notice is given of an intention to appoint an administrator, a petition is filed or a competent court makes an order for the appointment of an administrator in relation to the Issuer;

(n) an encumbrancer takes possession or steps are taken for the appointment of an administrator or receiver or administrative receiver or manager or supervisor or sequestrator over the whole or any substantial part of the undertaking or assets of the Issuer;

(o) any person who has provided a guarantee and indemnity for the Funding or any Funding Part breaches the terms of any guarantee and indemnity or other Fundaztic document that it is a party to, or disputes or threatens to dispute the enforceability of that guarantee and indemnity or other document, or suffers or is likely to suffer a material adverse change to their financial position, or Peoplender has any reason to believe that a guarantee and indemnity or security document has become unenforceable, and in any case, a replacement guarantee and indemnity or security document has not been provided to Peoplender's reasonable satisfaction within fourteen (14) days of a request from Peoplender;

(p) the Issuer (or if any person who has provided a guarantee and indemnity for the Funding or any Funding Part) dies, becomes of unsound mind, becomes bankrupt or makes a voluntary arrangement with anyone that they owe money to;

(q) a claim by taxation authorities of Malaysia (or any other governmental department of agency or other public body) is, or is reasonably likely to be adversely decided against the Issuer and the Issuer does not meet any payment obligation relating to that claim within the required period;

(r) there is a change in applicable law or regulations or in the financial, economic or political conditions in Malaysia which in Peoplender's opinion (which opinion shall be final and binding) would render it inadvisable or impractical or impossible or illegal or unlawful for the Funding to be/ continue to be made available or for the Issuer to perform or comply with any one or more of its obligations under the Funding Contract;

(s) a material adverse change occurs in the financial condition of Issuer, or Peoplender believes that the prospect of payment or performance of the Issuer's liabilities to the Investors is impaired; or

(t) any event or a series of events whether related or not has or have occurred which in Peoplender's opinion (which opinion shall be final and binding upon the Issuer) could or might affect or prejudice the ability or willingness of the Issuer to comply with all or any of its respective obligations hereunder.

**7.** **Fees & Charges** 

7.1 Where a Funding has been granted to the Issuer, the Issuer shall be required to pay fees to Peoplender to compensate it for its role in administering and facilitating the services provided to the Issuer on the Platform. This shall include the Origination Fees as per the prevailing fee tariff published on the Platform. The Origination Fees will be: (a) included in the total charge for financing in the Key Contract Terms and deducted from the amount financed before being transferred to the Issuer so the Issuer will receive the amount financed less the Origination Fees (and, where applicable, the amount of the first scheduled payment may also be debited upfront pursuant to clause 2.3 above), or (b) will be notified to you on the Platform and debited from the Fundaztic Trust Account before the total Funding is transferred to such third party as authorised in writing by the Issuer so such third party will receive the total Funding without any deductions thereto. The Issuer may also be liable to pay such other fees as may be determined by Peoplender and informed to the Issuer from time to time.

7.2 The Investor shall be obliged to pay to Peoplender a Platform Management Fee which will be deducted from:- (a) in respect of a Funding Contract other than a Bullet Payment Funding Contract, each payment to the Investor, and (b) in respect of a Bullet Payment Funding Contract, the single bullet payment to the Investor. The Platform Management Fee is imposed to cover the costs of running the Platform and administering the Funding.

7.3 Other fees or charges that may be charged by Peoplender (or by any collection agency Peoplender may appoint in relation to the Issuer's Funding Contracts) and which will be added to the Funding or outstanding arrears are:

(a) For the Islamic funding, the issuer shall be subject to a late payment charge ("Late Payment Charge") amounting up to ten per centum (10.0%) on the overdue or past due amount. For the avoidance of doubt, the Late Payment Charge consists of Ta`widh (compensation charge) of up to one per centum (1.0%) per annum on the overdue amount and Gharamah (penalty charge) for the remaining per centum (%) of the Late Payment Charge on the overdue amount. Ta`widh amount is allowed to be collected and earned by the Investor while Gharamah charge shall not be recognised as income and should be channelled to charity. However, as the Ta`widh amount forms part of administrative charges of the platform, the investors allow the platform to retain the corresponding amount on the basis of Ibra', whereby the Investors waive their right to receive the Ta`widh amount to be given to the Platform. The combined rate of both Ta`widh and Gharamah imposed on overdue amount shall not be compounded on the total payment due and overdue and shall not exceed one hundred per centum (100%) of the overdue or past due Purchase Price amount.

(b) In respect of a Bullet Payment Funding Contract which has been deemed to have triggered an event of default, profit (**"Additional Profit"**) from the relevant due date until full payment is made (pro-rated on a daily basis) at the prescribed profit rate on the total funded amount as set out in the Key Contract Terms or Varied Key Contract Terms (as the case may be), and retain such Additional Profit.

(c) where a field agent has been employed as part of the collections process, Peoplender or its collection agency may charge a fee; and

(d) all litigation, enforcement and recovery costs and expenses, including (but not limited to) legal fees and expenses, to cover litigation or enforcement of any judgement in each case to recover any Funding or outstanding arrears.

The Issuer agrees that Peoplender reserves the right to waive, reduce the aforesaid fees from time to time. Any such changes will be notified to the Issuer and Investors on the Platform.

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| | |
|:---|:---|
| **7A.** | **Transfer by Investors** |

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7A.1 Each Investor may, subject to the requirements under the applicable laws and conditions determined by Peoplender from time to time, transfer by assignment his / her / its right, title and interest in any Funding Contract and all associated Funding Parts and all associated rights under the Fundaztic Terms and Conditions to any other registered Investor on the Platform.

7A.2 The Issuer's rights and obligations under a Funding Contract that has been transferred shall not be adversely affected in any way whatsoever.

7A.3 An Issuer shall not be entitled to assign or transfer its rights or obligations under any Funding Contract.

7A.4 A transfer by assignment pursuant to clause 7A.1 of these Funding Conditions shall be effected by the transferring Investor and the new Investor entering into a Transfer Certificate. A Transfer Certificate will be entered into by electronic means in accordance with the Fundaztic Terms and Conditions upon the acceptance by the new Investor of an offer by the transferring Investor to sell a Funding Part (including using any automatic bid facility) and this will have the same effect as if the Transfer Certificate was signed in a hard single copy.

7A.5 At the time of entry into of a Transfer Certificate and notification to the Issuer (**"Transfer Time"**): (a) the transferring Investor assigns absolutely to the new Investor the rights, title and interest in the relevant Funding Contract and all associated rights; (b) the Issuer and the transferring Investor shall be released from further obligations towards one another under the relevant Funding Contract (**"Discharged Obligations"**); and (c) the Issuer and the new Investor shall assume those Discharged Obligations towards one another. The new Investor will, with effect from the Transfer Time, become a party to the relevant Funding Contract as an "Investor".

7A.6 The Issuer confirms its agreement to these arrangements and waives any requirement for it to be a party to, or to receive a copy of the Transfer Certificate. Without prejudice to the aforesaid, Peoplender retains the right to deliver a copy of the Transfer Certificate electronically to the Issuer or give electronic notice to the Issuer of such assignment of the Funding Contract(s) and the Issuer accepts such notice as having been duly delivered.

7A.7 There shall otherwise be no effect on the Key Contract Terms applicable to that Funding Contract.

7A.8 Any fees charged by Peoplender for administering a transfer by assignment shall be paid by the relevant Investors in accordance with the Fundaztic Terms and Conditions, and the Issuer shall not be liable for any fees in connection with the transfer.

7A.9 This clause shall not be applicable to Islamic notes until such feature is made available

**8.** **Appointment of Collection Agent** 

8.1 Each Investor has agreed and irrevocably and unconditionally authorised Peoplender to pursue the Issuer and/or any guarantor(s) in respect of the Funding (directly or indirectly) in Peoplender's own name as agent for and on behalf of such Investor for collection of monies due and payable in the event of a default in payment of any Funding Parts or for any other Event of Default hereunder or under any such guarantee and indemnity provided to the Investor. The Issuer hereby confirms its agreement to these arrangements.

8.2 The Issuer and Investors have agreed that Peoplender may, in turn appoint solicitors and/or recovery or debt collection agent(s). The Investors have also authorised Peoplender to take all and any reasonable actions to protect Peoplender's, or the Investors', rights as available in any relevant jurisdiction which may include:

● registration
 of liens, charges and rights as available; and

● any
 other action as available from time to time in accordance with the applicable laws.

8.3 The Issuer and Investors have acknowledged and agreed that if Peoplender (or the collection agent appointed by it) is unable to collect any financing and payables or part thereof under the Funding Contract(s) and/or any guarantee and indemnity, the Investors will retain the right to enforce their rights under the relevant Funding Contract and/or any such guarantee and indemnity directly against the Issuer and/or the guarantor(s). In such a situation, it is expressly agreed by the Issuer and the Investors that upon the request of an Investor, Peoplender shall provide such Investor with the relevant contact details of the Issuer and/or the guarantor(s) to enable the Investor to pursue its claim directly. The Issuer and the Investors hereby expressly agree that a written certification or certifications by Peoplender identifying the Issuer or Investors or guarantor(s) in respect of a Funding Contract will be final and conclusive evidence of the identity of such Issuer or Investors.

**9.** **Information Undertakings** 

9.1 If the Issuer is, or at any time becomes, aware of any of the following circumstances, claims or potential claims then the Issuer agrees with the Investor that it will promptly provide to Peoplender full written details of such circumstances, claims or potential claims:

(a) circumstances (including without limitation any claims, undisclosed liabilities, litigation, arbitration, court proceedings or investigations which are current, threatened, pending or otherwise reasonably likely to occur against the Issuer by any third party) which could or might result in a material adverse change in the Issuer's financial condition, business or assets;

(b) any current or future claim (or potential claim) by the taxation authorities of Malaysia (or any other governmental department or agency or other public body) against the Issuer; and/or

(c) the occurrence of any event constituting an Event of Default or a potential Event of Default.

9.2 The Issuer shall, from time to time, on request from Peoplender, provide Peoplender with such information (including documents) as it may require about the Issuer's financial condition, business and affairs, and compliance with the terms of the Funding Contract.

9.3 The Issuer shall permit Peoplender's employees or agents on reasonable notice and during business hours to attend and inspect its premises and any of the Issuer's books, accounts and records and to make copies of any such information. The Issuer agrees to meet with any such employee or agent within five (5) Business Days of request by Peoplender and answer all reasonable queries of such employee or agent.

**10.** **No Reliance** 

10.1 The Issuer confirms that, in entering into each Funding Contract, it has not relied on any representation made by or on behalf of Peoplender or the Platform or any of the Investors or on any written statement, advice, opinion or information given to the Issuer in good faith by or on behalf of Peoplender, the Platform or any of the Investors; and has been and will continue to be solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with each Funding Contract.

10.2 The Investors confirm that, in entering each Funding Contract and/or Transfer Certificate, it/ he/ she has not relied on any representation made by or on behalf of Peoplender, the Platform or the Issuer (except the representations made by the Issuer in these Funding Conditions), or on any written statement, advice, opinion or information given to the Investors in good faith by or on behalf of Peoplender or the Platform; and has been and will continue to be solely responsible for making its/ his/ her own independent appraisal and investigation of all risks arising under or in connection with each Funding Contract and/or Transfer Certificate.

**11.** **General** 

11.1 The Funding Conditions and each Funding Contract are governed by and construed in accordance with the laws of Malaysia, and each Investor and Issuer submits to the non-exclusive jurisdiction of the courts in Malaysia.

The Investor and Issuer hereby expressly agree(s) that Peoplender reserves the right to institute legal proceeding in the courts of any State in Malaysia and the Investor and Issuer hereby expressly agree(s) to waive any and all objection on the ground of forum non conveniens or any other jurisdictional objection.

11.2 If any part of the Funding Conditions is at any time held by a court of competent jurisdiction or found to be void, invalid, illegal or unenforceable, then it shall be treated as changed or reduced, only to the extent minimally necessary to bring it within the laws of that jurisdiction and to prevent it from being void and it shall be binding in that changed or reduced form. Subject to that, each provision shall be interpreted as severable and shall not in any way affect the validity or enforceability of the remainder of the Funding Conditions or the Funding Contract.

11.3 Any failure on the part of either party to exercise or enforce any right conferred upon it by a Funding Contract shall not be deemed to be a waiver of any such right or operate so as to prevent the exercise or enforcement of any right conferred upon the parties by the Funding Contract, and neither shall any waiver by either party of a breach of any provision of these Funding Conditions and/or the Funding Contract be considered to be a waiver of any other or later breach of the same, or any other, provision.

11.4 The records kept by Peoplender shall be conclusive of the facts and matters they purport to record.

11.5 The Issuer being a company (private limited or unlisted public) or partnership or limited liability partnership, by entering into the Funding Contract, the representative of the Issuer shall be required to make the following confirmation on the Platform: "*I confirm that I am authorised by the business I represent to enter into this agreement for and on behalf of the business I represent and that I am authorised to bind the business I represent to the terms of this agreement.*"

11.6 The parties shall do and cause to be done all such acts, matters and things and shall execute and deliver all such documents and instruments as shall be required to enable the parties to perform their respective obligations under, and to give effect to the transactions contemplated by, these Funding Conditions and/ or the Funding Contract.

11.7 These Funding Conditions, the Funding Contract and the documents referred to in it constitute the entire understanding and agreement of the parties relating to the subject matter of these Funding Conditions and the Funding Contract and supersedes, cancels and replaces all prior agreements between the parties which relate to the same subject matter whether written, oral, implied or as may be inferred from the correspondence, oral statements or conduct of the parties.

11.8 Save as it otherwise expressly stated herein, no amendments or variations to the Funding Contract (including these Funding Conditions) shall be effective unless agreed in writing by Peoplender and the duly authorised representatives of the parties.

11.9 Any notices to be given to the Issuer/Investor/Peoplender in relation to any Funding Contract shall be sent by email to the said party care of Fundaztic at *support@fundaztic.com* or *creditadmin@fundaztic.com* quoting the sender's and recipient's unique reference number allocated by Peoplender or verified e-mail address (as applicable).

Where Investors pursue their claims against the Issuer directly in the situation described in clause 8.3 above (at which time the identities and contact details of the Investors and the Issuer shall be made known to each other) all notices or demands to be given by either party in relation to the Funding Contract shall be made in writing and sent by e-mail, personally, by courier, by registered mail, or by facsimile to the last known correspondence, fax or e-mail address provided by such party. The unique reference numbers of the parties as allocated by Peoplender should be quoted in the said notices or demands. Notice by e-mail shall be deemed to be served upon and received upon being sent. Any notice sent by registered post shall be deemed to have been served on the fifth (5th) day after the date on which it is posted. Any notice sent by facsimile shall be deemed to have been served on the date on which such facsimile is transmitted. In each case, if the date of delivery is not a Business day, the date of service shall be next succeeding Business day.

Any legal notice, demand, writ or legal process issued by Peoplender against the Issuer/Investor shall be served by e-mail or by facsimile or by registered post to the e-mail address or facsimile number or the last known correspondence address provided by the Issuer/Investor to Peoplender. Any legal notice, demand, writ or legal process sent by e-mail shall be deemed to be served upon and received by the Investor/Issuer upon being sent by Peoplender. Any legal notice, demand, writ or legal process sent by registered post shall be deemed to have been served on the fifth (5th) day after the date on which it is posted (including the date of posting). Any legal notice, demand, writ or legal process sent by facsimile shall be deemed to have been served on the date on which such facsimile is transmitted. In each case, if the date of delivery is not a business day, the date of service shall be the next succeeding business day.

11.10 The Issuer and the Investors undertake that it/ he/ she shall not at any time after the date of the Funding Contract use, divulge or communicate to any person (except to professional representatives or advisers or as may be required by law or any legal or regulatory authority) any Confidential Information, and will use best endeavours to prevent the unauthorised publication or disclosure of any Confidential Information, and will only use such Confidential Information for the purposes of proposing, considering or making transactions through the Platform.

11.11 If any goods and services tax or any other similar tax is chargeable on any sum payable by the Issuer to the Investors, or by the Issuer to Peoplender, or by the Investors to Peoplender, the Issuer or the Investors, as the case may be, shall pay to the relevant party (in addition to and simultaneously with the payment of such sum) an amount equal to the amount of the goods and services tax or any such other tax payable.

11.12 The Issuer and Investor hereby expressly agree that a written confirmation signed by a duly authorised representative of Peoplender and issued by Peoplender shall be final and conclusive proof of the Issuer's indebtedness under the Funding Contract. Where the Issuer has incurred outstanding financing from more than one Funding Contract, the Issuer and Investor hereby expressly agree that a written confirmation signed by a duly authorised representative of Peoplender and issued by Peoplender shall be final and conclusive proof of the Issuer's total indebtedness under all the Funding Contracts.

**12.** **Service and Complaints** 

12.1 The Issuer should contact Peoplender if there are any terms of a Funding Contract it wishes to discuss. Alternatively the Issuer may wish to seek independent advice to help it fully understand the Funding Contract and the implications of its terms.

12.2 If the Issuer or Investor wishes to make a complaint about the Funding Contract or the Platform, they may do so in person, in writing or by post or email or by telephone. Please see Fundaztic's Complaints Procedure (accessible on the Platform at "Complaints Procedure").

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| | |
|:---|:---|
| **13** | **Ibra'** |

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For Islamic funding or financing, in the event of early settlement payment by the Issuer, the Investor may grant the Issuer ibra' on the profit amount based on the formula below; Ibra' = Deferred Profit - Early Settlement Charge (if any) - fees & charges (if any);

Where (i) Deferred Profit is Total Profit – Accrued Profit, and (ii) Total Profit = Sale Price – Purchase Price

In the event that payment is received on a timely basis for full settlement, the amount difference between Contracted Profit Rate and Prevailing Profit Rate shall be given as Ibra'.

**14.** **Interpretation** 

14.1 Unless the context otherwise requires, reference in these Funding Conditions to:

(a) persons include individuals, corporations, and unincorporated bodies or associations that are recognised at law (whether or not having a separate legal personality and irrespective of their jurisdiction or origin, incorporation or residence);

(b) a party means a party to these Funding Conditions (namely, the Issuer and the Investor) and includes their respective successors and permitted assigns;

(c) Clauses and Schedules shall be references to the relevant clause or schedule of these Funding Conditions; and a reference to a paragraph is to the relevant paragraph in the Schedule in which it appears;

(d) the terms "including", "include", "in particular" or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms; and

(e) the singular includes the plural (and vice versa) and use of any gender includes the other genders.

14.2 The headings in these Funding Conditions are for convenience only and shall not affect the construction or interpretation of these Funding Conditions.

14.3 Any reference to these Funding Conditions, Fundaztic Terms and Conditions, contract or document includes any amendments or variations thereto made from time to time and any other instrument entered into supplemental thereto or in substitution thereof.

14.4 Save as it otherwise expressly stated herein, any liberty or power or discretion which may be exercised or any determination which may be made hereunder by Peoplender may be exercised or made in Peoplender's absolute and unfettered discretion and Peoplender shall not be under any obligation to give any reason therefor. For the avoidance of doubt, the Issuer and the Investors acknowledge and agree that they will not challenge Peoplender's authority granted and/or Peoplender's discretion exercised here under or under the Fundaztic's Terms and Conditions.

14.5 The term "Issuer" in these Funding Conditions shall, in reference to an entity established as a partnership or sole proprietorship, include, where the context requires, any partner or sole proprietor of such Issuer.

**15.** **Defined terms** 

15.1 In these Funding Conditions and each Funding Contract the following words have the meanings set out next to them in the table below:

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| | |
|:---|:---|
| **"Issuer"** | an entity registered on the Platform for the purpose of raising funds via the Platform. |
| **"Bullet Payment Funding Contract"** | The Funding Contract(s) in respect of a Funding under which payment of the Funding Amount thereunder will be required to be made by the Issuer in a single bullet payment at the expiry of the tenure thereof. |
| **"Business Day"** | any day except a Saturday, Sunday or public holiday and on which banks in Kuala Lumpur are open for business. |
| **"Confidential Information"** | all information in whatever form (including in visual, oral or electronic form) relating to Peoplender or any Investor (including all Investor profiles) or a company that was previously an Investor which is provided or disclosed through the Platform (or to any employees or agents) in connection with the use of the Platform. |
| **"Event of Default"** | any of the events as described in clause 6 of these Funding Conditions. |
| **"Key Contract Terms"** | the summary of the key commercial terms applicable to a particular Funding and Funding Contract made on a single occasion between an Issuer and each relevant Investor and shall include where applicable, any varied Key Contract Terms. |
| **"Investor" or "Investors"** | the individuals or entities registered on the Platform for the purposes of investing funds via the Platform. |

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| | |
|:---|:---|
| <br> **"Funding"** | the aggregate amount(s) of funds raised by an Issuer pursuant to a Funding Contract or multiple Funding Contracts entered into between an Issuer and an Investor (or multiple Investors). |
| <br> **"Funding Amount "** | in respect of a Funding, the total amount of Purchase Price or profit and any applicable fees outstanding under the Funding Contract or multiple Funding Contracts relating to that Funding at the time of calculation. |
| **"Funding Conditions"** | these Funding Conditions. |
| <br> **"Funding Contract"** | the agreement governing the terms on which an Investor has provided a Funding Part to an Issuer, in each case made up of the Funding Conditions and Key Contract Terms applicable to the relevant Funding. A Funding Contract constitutes an "investment note" within the meaning of Chapter 13 of theby an Investor to provide funding to an Issuer the whole or part of the Funding Amount requested pursuant to a Funding Request. |
| <br> **"Funding Part"** | in respect of a Funding which has been provided by multiple Investors, the part of a Funding which has been provided by a particular Investor. |
| **"Funding Request"** | a request for funding by an Issuer which is listed on the Platform. |
| <br> **"Platform Management Fee"** | the fee charged by Peoplender to Investors to cover the cost of administering Funding Contracts, as specified in clause 7.2. |
| <br> **"Minimum Funding Goal"** | in relation to a Funding Request, an amount equivalent to at least eighty per cent (80%) of the total amount to be raised pursuant to a Funding Request within the relevant funding period. |
| **"Peoplender"** | Peoplender Sdn Bhd (Company No. 1169655-M), the operator of the Platform. |
| <br> **"Fundaztic Trust Account"** | a segregated trust account established and maintained by a licensed third party administrator in a bank licensed under the Financial Services Act 2013 or Islamic Financial Services Act 2013 for the sole purpose of holding funds to which the Issuer and or the Investor is beneficially entitled to. |
| <br> **"Fundaztic Terms and Conditions"** | the Issuer Terms and/or the Investor Terms, and/or a Funding Contract and/or any other terms and conditions in relation to the Platform which are applicable to the Issuer or the Investors, as the case may be. |
| <br> **"Platform"** | the internet marketplace which Peoplender operates at <u>www.Fundaztic.com</u> for the purpose of matching Funding Request and Funding Offers. |
| **"Origination Fees"** | the fees charged by Peoplender to the Issuer for enabling the Issuer to borrow on the Platform, as specified in clause 7.1. |
| <br> **"Transfer Certificate"** | the pre-determined form to be entered into between two Investors who have agreed on the Platform to buy and sell Funding Part(s) and assign their rights under the relevant Funding Contract(s). |

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**<u>Key Contract Terms</u>**

**These are the Key Contract Terms referred to in Clause 6.9 of the Issuer Terms and Clause 6.13 of the Investor Terms in respect of the Financing with reference number: AN20250605052811795310 listed on the Platform pursuant to the Issuer's Financing Application.**

Unless otherwise expressly stated, all terms used in these Key Contract Terms shall have the same meanings as those defined in the Issuer Terms (accessible at **AN20250605052811795310**).

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| | | |
|:---|:---|:---|
| **No.** | **Matter** | **Particulars** |
| **(A) Issuer's** **Details** | | |
| **1.** | Unique Reference Number | AN20250605052811795310 |
| **2.** | Business | Information and<br> Communication |
| **3.** | Purpose of Funding | Working Capital |
| **(B) Funding** **Particulars** |  |  |
| **1.** | Principal Amount | RM100,000.00 only |
| **2.** | Tenure | 24 months |
| **3.** | Prescribed Interest Rate (%) | 12.30% per annum (flat rate) |
| <br> **4.** | <br> Repayment Tenure | 24 consecutive monthly installments of RM5,191.67 each as set out on your personal page under the "My Fundings" section of the "Platform". The first scheduled repayment will be deducted upfront from the disbursed amount. |

---

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| | | |
|:---|:---|:---|
| */s/ Lim Seow Leong* | | */s/ Chu Hoon Weng* |
| **Lim Seow Leong** |  | **Chu Hoon Weng** |
| **860827435273** |  | **860130296269** |
| **Personal Banking Details :-** |  | **Personal Banking Details :-** |
| **Bank Name :** MAYBANK |  | **Bank Name :** OCBC |
| **Bank Account No. :** 108057098570 |  | **Bank Account No. :** 7012518252 |

---

## Exhibit 10.6

**Exhibit 10.6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

**PRIVATE & CONFIDENTIAL**

Our Ref. : MBIBMY-2506000077 <br> Date : 17 June 2025

**3KNIGHTS DYNAMICS SDN. BHD. (202101028283)** 

NO. 19-2 THE BOULEVARD MID VALLEY CITY

LINGKARAN SYED PUTRA

59200 KUALA LUMPUR

WILAYAH PERSEKUTUAN KUALA LUMPUR

To whom it may concern,

**<u>RE : Note Issuance Islamic (MF-i) Facility Offer</u>**

We refer to your application for the above facility. We are pleased to inform you that Modalku Ventures Sdn Bhd ("**Funding Societies**") is prepared to provide you with the following facility under the principles of Commodity Murabahah (via *Tawarruq*) ("**Facility**") subject to our terms & conditions (available on <u>www.fundingsocieties.com.my)</u> and the terms set forth herein ("**Letter of Offer**").

**COMMERCIAL TERMS OF THE FACILITY**

---

| | | | |
|:---|:---|:---|:---|
| Facility Amount | &nbsp;&nbsp;(a) Facility | : | &nbsp;&nbsp;RM 200,000.00 |
|  | &nbsp;&nbsp;(b) Drawdown Fee (financed) | : | &nbsp;&nbsp;RM 10,000.00 |
|  | &nbsp;&nbsp;(c) Guarantee Fee<sup>1</sup> (financed) | : | &nbsp;&nbsp;RM 10,000.00 |
|  | &nbsp;&nbsp;**Total Facility Amount (a + b + c)** | : | &nbsp;&nbsp;**RM 220,000.00** |

---

---

| | | |
|:---|:---|:---|
| Purpose | 1. | In respect of the Facility portion stated in column (a) above, the purpose is to finance the working capital of the Issuer. |
|  | 2. | In respect of the Drawdown Fee and the Guarantee Fee portion stated in column (b) and column (c) above, the purpose is to finance the Drawdown Fee and the Guarantee Fee owed by the Issuer to Funding Societies. |
| Credit Period |  | 18 month(s) from the Disbursement Date. |
| Ceiling Profit Rate |  | 1.50% per month<sup>2</sup> calculated on flat rate basis on the Utilised Amount<sup>3</sup>. |

---

<sup>1</sup> Guarantee Fee is a fee payable to FS Capital Sdn Bhd (Company No. 201631787R) or jointly with Credit Guarantee Corporation Malaysia Berhad which is chargeable to the Issuer for the Guaranteed Investment Note product. The Guarantee may be provided by FS Capital Sdn Bhd, or jointly with Credit Guarantee Corporation Malaysia Berhad (subject to approval by Credit Guarantee Corporation Malaysia Berhad upon meeting their eligibility criteria and credit assessment). The Guarantee Fee shall be collected by Modalku Ventures Sdn Bhd for and on behalf of FS Capital Sdn Bhd or jointly with Credit Guarantee Corporation Malaysia Berhad upon disbursement.

<sup>2</sup> Per month is calculated on the basis of a 30-day month.

<sup>3</sup> Utilised Amount means the funds raised in successful Funding Exercise which shall be equally referred to as Utilisation Purchase Price which will be disbursed to the Issuer under the Facility, which shall be up to the Facility Amount.

**Page** **1 of 6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

---

| | |
|:---|:---|
| Effective Profit<br> Rate | 1% per month calculated on flat rate basis on the Utilised Amount in the event the Payment Amount is paid within 30 days after the expiry of the Due Date<sup>4</sup>.<br>1.50% per month calculated on flat rate basis on the Utilised Amount in the event the Payment Amount is paid 30 days after the expiry of Due Date. |
| Late Payment<br> Charges | For any default in payments on the Due Date of instalments or scheduled payments from the disbursement of the Facility until the Maturity Date<sup>5</sup>, 10.00% per annum charged on the overdue instalments/payments.<br>For any default in payments that are overdue beyond the Maturity Date or upon judgement, whichever is earlier, 10.00% per annum charged on the outstanding instalments/payments. |
| Drawdown Fee | 5.00% of Facility portion stated in column (a) above, which is financed under the Facility Amount in column (b) above or otherwise will be set-off against the Utilised Amount to be disbursed. |
| Guarantee Fee | 5.00% of Facility portion stated in column (a) above, which is financed under the Facility Amount in column (c) above or otherwise will be set-off against the Utilised Amount to be disbursed. |
| Retention Fee | 0.00% of Facility portion stated in column (a) above (deducted upon disbursement). Amount to be refunded upon successful payment of financing obligations. |
| Brokerage Fee | Not applicable. |
| Stamping Fee | To be borne by 3KNIGHTS DYNAMICS SDN. BHD..<br>The stamp duty may be exempted for Issuer classified as Micro Enterprise or Small & Medium Enterprises under section 2A of the Small and Medium Industries Development Corporation Act 1995 [Act 539], subject to the endorsement by the Inland Revenue Board of Malaysia (IRB). If the endorsement is rejected by IRB, the applicable stamp duty shall be borne by the Issuer. A processing fee of RM 10.00 imposed by IRB shall be borne by Issuer. |
| Records Request / Confirmation Fee | RM 100.00 per copy<sup>6</sup>. |
| Variation Fee | At least RM 300.00 per variation<sup>7</sup>, waived at the discretion of Funding Societies. |

---

<sup>4</sup> Due Date means the respective due date for the Issuer to make or cause to make payments towards the Facility.

<sup>5</sup> Maturity Date means expiry of the Credit Period, also referred to as expiry of the Murabahah Period.

<sup>6</sup> Chargeable upon any request made including but not limited to audit confirmation, finance/security documents, settlement letter, reference letter and/or confirmation letter.

<sup>7</sup> Chargeable upon any amendment or variation to the letter of offer or agreements.

**Page** **2 of 6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

---

| | | |
|:---|:---|:---|
| Payment Structure | : | Kindly Refer to **Appendix A.** |
| Security/Guarantee | : | A Guarantee and Indemnity of the punctual and complete performance of this Facility by: - |

---

---

| | |
|:---|:---|
| **Name** | **NRIC / Passport No. / Registration No.** |
| CHU HOON WENG | 860130296269 |
| LIM SEOW LEONG | 860827435273 |

---

---

| | | | |
|:---|:---|:---|:---|
| Pre-Disbursement : 1. Condition | : | 1. | Successful activation of Direct Debit mandate for deduction of monthly payment to Funding Societies' payment account as stated below. In the event the direct debit mandate cannot be activated due to no fault of yours and due to reasons deemed acceptable by Funding Societies, you are to submit post-dated cheque(s) for the monthly payment in accordance with Appendix A. |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Account Name | **:** | &nbsp;&nbsp;MALAYSIAN TRUSTEES BHD- MODALKU VENTURES SDN BHD |
| &nbsp;&nbsp;Bank Name | **:** | &nbsp;&nbsp;RHB ISLAMIC BANK BERHAD |
| &nbsp;&nbsp;Account No. | **:** | &nbsp;&nbsp;26431700059780 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | 2. | Nil |
| Post-Disbursement Condition | : | 1. | Nil |
| Special Condition | : | 1. | In respect of the Facility portion stated in column (a), the Facility (less any Fees & Charges due and payable to Funding Societies) shall be disbursed to the Issuer's account as stated below: |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Facility | **:** | &nbsp;&nbsp;RM 200,000.00 |
| &nbsp;&nbsp;Account Name | **:** | &nbsp;&nbsp;3KNIGHTS DYNAMICS SDN. BHD. |
| &nbsp;&nbsp;Bank Name | **:** | &nbsp;&nbsp;UNITED OVERSEAS BANK (MALAYSIA) BHD. |
| &nbsp;&nbsp;Account No. | **:** | &nbsp;&nbsp;2233062199 |

---

2. In respect of the portion to
 finance the Drawdown Fee and Guarantee Fee portion owed by the Issuer to Funding Societies stated in column (b) and column (c) or
 otherwise being set-off against the Utilised Amount to be disbursed, the Drawdown Fee and Guarantee Fee shall be disbursed to Funding
 Societies' account as stated below:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Drawdown Fee | **:** | &nbsp;&nbsp;RM 10,000.00 |
| &nbsp;&nbsp;Guarantee Fee | **:** | &nbsp;&nbsp;RM 10,000.00 |
| &nbsp;&nbsp;Account Name | **:** | &nbsp;&nbsp;MODALKU VENTURES SDN BHD |
| &nbsp;&nbsp;Bank Name | **:** | &nbsp;&nbsp;RHB BANK BERHAD |
| &nbsp;&nbsp;Account No. | **:** | &nbsp;&nbsp;21412900281661 |

---

3. Nil

**Page** **3 of 6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

Please note that the terms and conditions in this Letter of Offer are in addition to those stipulated in the Note Issuance Islamic (MF-i) Facility Agreement cum Guarantee.

1. Any
 financial obligations which remain outstanding after the Due Date must be paid by your company
 / business / partnership absolutely.

2. You
 hereby undertake and agree not to perform change in control, ownership, shareholders, directors
 or corporate structure and/or undertake a scheme of reconstruction or merger, which would
 affect your business, assets and/or condition throughout the period of the Facility without
 prior written consent of Funding Societies.

3. Funding
 Societies reserves the right to conduct an audit on your financial records, if necessary.

4. Funding
 Societies may at any time, subject to the provision of Shariah, upon giving notice to you,
 vary or amend any terms or conditions in Letter of Offer or Note Issuance Islamic (MF-i)
 Facility Agreement cum Guarantee with effect from the date specified in the said notice or
 supplemental Letter of Offer or supplemental Note Issuance Islamic (MF-i) Facility Agreement
 cum Guarantee.

5. That
 the Terms and Conditions of this Letter of Offer and the specific references and terms must
 be read together with all the provisions of the Note Issuance Islamic (MF-i) Facility Agreement
 cum Guarantee which will be executed as a result of the acceptance of this Letter of Offer.

Please note that your acceptance of this Letter of Offer does not guarantee the availability of this Facility or the disbursement of financing to you. The availability and disbursement of this Facility is subject to the completion and fulfilment of any legal documentation, obligations, note issuance agreement, compliance of our standard Terms and Conditions and the successful completion of the Funding Exercise<sup>8</sup>.

This offer will lapse after 3 business days from the date of this Letter of Offer<sup>9</sup>. Please indicate your acceptance to this Letter of Offer and the Terms and Conditions set out on Funding Societies' website by executing this Letter of Offer in the specified signing page. By executing this Letter of Offer, you agree that you are signing as an authorised signatory for and on behalf of Issuer.

Again, we are pleased that you have chosen to apply to us and we look forward to hearing from you. Please feel free to contact us at **ops-my@fundingsocieties.com** for any questions.

*[This is an auto-generated Letter of Offer. No signature is required on the part of Funding Societies]*

 

 

<sup>8</sup> Funding Exercise means the act of funding for the Facility on Funding Societies Platform.<br> <sup>9</sup> The offer period may be extended up to 30 calendar days from the date of this Letter of Offer subject to Funding Societies' approval, at its sole discretion.

 

**Page** **4 of 6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

**<u>ISSUER</u>**

Signed by the authorised signatory(ies) named below for and on behalf of **3KNIGHTS DYNAMICS SDN. BHD.** on the signing page:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**NRIC/Passport No.** | &nbsp;&nbsp;**Designation\*** |
| &nbsp;&nbsp;CHU HOON WENG | &nbsp;&nbsp;860130296269 | &nbsp;&nbsp;DIRECTOR / PARTNER / SOLE PROPRIETOR |
| &nbsp;&nbsp;LIM SEOW LEONG | &nbsp;&nbsp;860827435273 | &nbsp;&nbsp;DIRECTOR / PARTNER / SOLE PROPRIETOR |

---

\* wherever applicable

*This signing block lists and identifies all directors/partners of the Issuer. Failure to fill or empty signature slot shall constitute a waiver of signature on this specific document. The Issuer hereby acknowledge and agrees to indemnify Funding Societies against any claims and liabilities arising from unauthorised signatures.*

 

**Page** **5 of 6**

---

| | |
|:---|:---|
| ![](ex10-6_001.jpg) | Unit 15.01 & Unit 15.02, Level 15, Mercu 3KL Eco City, Jalan Bangsar, 59200 Kuala Lumpur<br> <u>www.fundingsocieties.com.my</u> \| Website<br> <u>info@fundingsocieties.com.my</u> \| Email<br>|

---

**APPENDIX A**

For your reference, below is the projected payment schedule for the Facility Offer.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Funding Societies**<br>| **Funding Summary** | **Funding Summary** |
| &nbsp;&nbsp;**FS BOLT – MF-i for**<br> **3KNIGHTS DYNAMICS SDN. BHD.** | &nbsp;&nbsp;Facility Amount<br> (Facility + Drawdown Fee and Guarantee Fee (financed)) | RM 220,000.00 |
|  | &nbsp;&nbsp;Disbursement Amount to Issuer | RM 200,000.00 |
|  | &nbsp;&nbsp;Ceiling Profit Rate per month | 1.50% |
|  | &nbsp;&nbsp;Effective Profit Rate per month | 1% |
|  | &nbsp;&nbsp;Credit Period (months) | 18 |
|  | &nbsp;&nbsp;Total Payment | RM 259,600.00 |

---

**Payment Schedule**

\* For Illustration Purpose Only The document is for illustrative purposes only, the overall effective profit may differ from this statement due to changes in actual payment

---

| | | | | |
|:---|:---|:---|:---|:---|
| **No.** | **Payment** | **Principal** | **Profit** | **Balance** |
| 0 |  |  |  | RM 259,600.00 |
| 1 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 245,177.78 |
| 2 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 230,755.56 |
| 3 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 216,333.34 |
| 4 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 201,911.12 |
| 5 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 187,488.90 |
| 6 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 173,066.68 |
| 7 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 158,644.46 |
| 8 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 144,222.24 |
| 9 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 129,800.02 |
| 10 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 115,377.80 |
| 11 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 100,955.58 |
| 12 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 86,533.36 |
| 13 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 72,111.14 |
| 14 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 57,688.92 |
| 15 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 43,266.70 |
| 16 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 28,844.48 |
| 17 | RM 14,422.22 | RM 12,222.22 | RM 2,200.00 | RM 14,422.26 |
| 18 | RM 14,422.26 | RM 12,222.26 | RM 2,200.00 | RM 0.00 |
| **Total** | **RM 259,600.00** | **RM 220,000.00** | **RM 39,600.00** | **RM 0.00** |

---

**\*** Please note that the Payment Structure of the Facility is subjected to changes depending on the disbursed Utilised Amount, Disbursement Date and/or any other relevant factors and in any event, the final Payment Structure will be reflected in the Investment Note Certificate as provided in the Note Issuance Islamic (MF-i) Facility Agreement cum Guarantee.

**Page** **6 of 6**

## Exhibit 23.3

**Exhibit 23.3**

![](ex23-3_001.jpg)

<u>Consent of Independent Registered Public Accounting Firm</u>

We hereby consent to the inclusion in this Amendment No.1 to the Registration Statement on Form F-1 under the Securities Act of 1933, of our report dated March 6, 2026, with respect to the consolidated financial statements of 3Knights Dynamics Group Limited for the financial years then ended August 31, 2025 and August 31, 2024 and our report dated May 18, 2026 on review of interim financial information for the financial period ended February 28, 2026. We also consent to the reference to our firm under the heading "Experts" in such Registration Statements.

![](vi_001.jpg)

WS & CO PLT

202206000035 (LLP0033211-LCA) & AF002338

Chartered Accountants

Johor Bahru, Malaysia

June 22, 2026