{"url_path":"/sec/yoov/10-k/2026/item-4","section_key":"item-4","section_title":"Item 4 INFORMATION OF THE COMPANY**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/2001794/0001213900-26-054960-index.html","accession_number":"0001213900-26-054960","cik":"0002001794","ticker":"YOOV","issuer_name":"Concorde International Group Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2001794/0001213900-26-054960-index.html","primary_entity_key":"0002001794","primary_entity_name":"Concorde International Group Ltd."},"word_count":7184,"has_tables":true,"body_markdown":"**ITEM 4. INFORMATION OF THE COMPANY**\n\n \n\n**A. History and Development of the Company**\n\n** **\n\n**General Information**\n\n \n\nOur corporate address is\n3 Ang Mo Kio Street 62, #01-49 LINK@AMK, Singapore 569139. Our company email address is info@concordesecurity.com.\n\n \n\n21\n\n \n\nOur website can be found\nat www.concordesecurity.com. The information contained on our website is not a part of this annual report, nor is such content incorporated\nby reference herein, and should not be relied upon in determining whether to make an investment in our Class A Ordinary Shares.\n\n \n\n**Corporate Structure**\n\n \n\nThe chart below presents\nour current corporate structure, as of the date of this annual report:\n\n \n\n** **\n\n*\nOn January 23, 2026, the Group transferred the legal title of a 51% equity interest in Concorde Security Sdn Bhd, a wholly-owned subsidiary of the Group, to a third-party investor. Pursuant to a Deed of Trust entered into between the parties, the Group remains the 100% beneficial owner of Concorde Security Sdn Bhd Ltd, with the third-party holding the transferred equity interest solely in a nominee capacity for the benefit of the Group. As the Group retains full beneficial ownership and control over the subsidiary’s business and operations, Concorde Security Sdn Bhd continues to be 100% consolidated in the Group’s financial statements.\n\n \n\n**Dual Class Structure**\n\n** **\n\nUnder our current\nmemorandum and articles of association, we are authorized to issue up to a maximum of 350,000,000 ordinary shares with a par value\nof US$0.00001 each comprising (i) 250,000,000 Class A Ordinary Shares with a par value of US$0.00001 each; and (ii) 100,000,000\nClass B Ordinary Shares with a par value of US$0.00001 each. Class B Ordinary Shares are entitled to one hundred votes per share on\nproposals requiring or requesting shareholder approval, unless prohibited by law. Class A Ordinary Shares are entitled to one vote\non any such matter. Other than as to voting and conversion rights, Class B Ordinary Shares and Class A Ordinary Shares have the same\nrights and rank pari passu with one another, including the rights to dividends and other capital distributions. Each Class B Ordinary\nShare is convertible into one Class A Ordinary Share at any time by the holder thereof. Class A Ordinary Shares are not convertible\ninto Class B Ordinary Shares under any circumstances.\n\n \n\n22\n\n \n\nAs of the date of this annual\nreport, our Co-Chief Executive Officer and Chairman of the Board, Mr. Swee Kheng Chua retains controlling voting power in the Company\nbased on having approximately 89.4% of all voting rights. This concentrated control may limit or preclude the ability of others to influence\ncorporate matters including significant business decisions for the foreseeable future.\n\n** **\n\n**Our Corporate History **\n\n \n\nConcorde International was\nincorporated in the British Virgin Islands on May 2, 2023. Our registered office in the British Virgin Islands is at Conyers Trust Company\n(BVI) Limited of Commerce House, Wickhams Cay 1, PO Box 3140, Road Town, Tortola, British Virgin Islands VG1110. Our principal executive\noffice is at 3 Ang Mo Kio Street 62, #01-49 LINK@AMK, Singapore 569139. Our telephone number at this location is +65 62960802. Our principal\nwebsite address is https://concordesecurity.com. The information contained on our website does not form part of this annual report.\n\n \n\nConcorde International was\nincorporated to acquire and hold, indirectly, Concorde Security Pte Ltd (Singapore), Concorde Security Sdn Bhd (Malaysia), Concorde Security\nLimited (UK), Concorde Asia Pte Ltd (Singapore) and Berjaya Academy Pte Ltd (Singapore).\n\n \n\nConcorde International Group\nPte Ltd (Singapore) was incorporated on June 12, 2023. It is a holding company and a 100% owned subsidiary of Concorde International.\nIts registered office is at 3 Ang Mo Kio Street 62, #01-49 LINK@AMK, Singapore 569139.\n\n \n\nConcorde Security Pte Ltd\n(Singapore) was incorporated on June 16, 2005. Concorde Security Pte Ltd’s main business is in the provision of man-guarding and\ni-Guarding services in Singapore. It has received numerous awards and recognition. Notably, it has received various grants from the IMDA.\n\n \n\nSecurity Industry Transformation\nMap (ITM) Pilot Program 2018/2019 — SG$1.8 million, refers to the total value of the IFS solution, of which approximately 60% (SG$1.08\nmillion) was provided as grant funding to building owners and security agencies.\n\n \n\nProductivity Solutions Grant\n(PSG) 2021/2022 — IFS solutions is the only pre-approved IT solutions under PSG in the Go Business Singapore portal under the category\nof security surveillance.\n\n \n\nAdvanced Digital Solutions\n(ADS) 2022/2023 — An initiative under the SMEs Go Digital programme for building owners/facilities managing agencies to adopt IFS\nsolutions enhanced further as a complete Smart Security Solutions.\n\n \n\nOn January 1, 2019, Lek Seck\nTin invested US$1,000,000 in exchange for an equity stake of 1.48% of Concorde Security Pte Ltd (Singapore).\n\n \n\nOn November 27, 2018, Wolfgang\nSteuerle and Yogeshwari A/P Subramaniam invested US$500,000 in exchange for an equity stake of 0.74% of Concorde Security Pte Ltd (Singapore).\n\n \n\nOn July 29, 2005, Sharifah\nNoriati Binte Said Omar was allocated 0.98% of Concorde Security Pte Ltd (Singapore) in lieu of services provided.\n\n \n\nConcorde Security Sdn Bhd\n(Malaysia), Concorde Singapore’s 100% owned subsidiary, was incorporated in Malaysia on January 13, 2015. On January 23, 2026, we\ndisposed of a 51% equity interest in Concorde Security Sdn Bhd to a third-party investor.\n\n \n\nConcorde Security Limited\n(UK), Concorde Singapore’s 100% owned subsidiary, was incorporated in the United Kingdom on December 23, 2016. It is currently in\na development stage.\n\n \n\nConcorde Asia Pte Ltd, Concorde\nSingapore’s 70% indirectly owned subsidiary, was incorporated in Singapore on October 8, 2013.\n\n \n\nBerjaya Academy Pte Ltd,\nConcorde Singapore’s 70% indirectly owned subsidiary, was formed in Singapore on March 6, 2020.\n\n \n\nConcorde i-FAST USA Inc.\n(Texas), Concorde Singapore’s 100% owned subsidiary, was incorporated in State of Texas on April 25, 2024.\n\n \n\nOn March 18, 2026, the Company\ncompleted the merger with YOOV Group Holding Limited (“YOOV”), pursuant to an Agreement and Plan of Merger dated February 3, 2026\n(the “Merger Agreement”) and a waiver agreement dated March 18, 2026 (the “Waiver Agreement”), by and between\nthe Company and YOOV. Upon the completion of the transaction, YOOV became a wholly owned subsidiary of the Company.\n\n \n\n23\n\n \n\n**Group Reorganization**\n\n \n\nIn connection with our initial\npublic offering, we have undertaken a reorganization of our corporate structure (the “Reorganization”) in the following steps:\n\n \n\n \n●\nOn May 2, 2023, Concorde International Group Ltd was incorporated under the laws of the British Virgin Islands;\n\n \n \n \n\n \n●\nOn June 12, 2023, we incorporated Concorde International Group Pte Ltd as a wholly owned subsidiary of Concorde International Group Ltd;\n\n \n \n \n\n \n●\nOn July 31, 2023, Concorde International Group Pte Ltd acquired 100%\nof the equity interests in Concorde Security Limited from Concorde Group Pte Ltd;\n\n \n \n \n\n \n●\nOn October 27, 2023, Concorde International Group Pte Ltd acquired 100% of the equity interests in Concorde Security Sdn Bhd from Swee Kheng Chua;\n\n \n \n \n\n \n●\nOn November 1, 2023, Concorde International Group Pte Ltd acquired 96.81% of the equity interests in Concorde Security Pte Ltd from Swee Kheng Chua. Concorde Security Pte Ltd is a 96.81% subsidiary of Concorde International Group Pte Ltd;\n\n \n \n \n\n \n●\nOn November 1, 2023, Concorde International Group Pte Ltd acquired 100% of the equity interests in Concorde Asia Pte Ltd from Swee Kheng Chua. On November 3, 2023, Weilekai Investment Pte Ltd acquired 30% of the equity interests in Concorde Asia Pte Ltd from Concorde International Group Pte Ltd. Consequently, Concorde Asia Pte Ltd is a 70% indirectly owned subsidiary of Concorde International Group Pte Ltd;\n\n \n \n \n\n \n●\nOn November 1, 2023, Concorde International Group Pte Ltd acquired 100% of the equity interests in Berjaya Academy Pte Ltd from Sharifah Noriati Binte Said Omar. On November 8, 2023, Weilekai Investment Pte Ltd acquired 30% of the equity interests in Berjaya Academy Pte Ltd from Concorde International Group Pte Ltd;\n\n \n \n \n\n \n●\nOn April 25, 2024, Concorde i-FAST USA Inc. was incorporated in the State of Texas as a wholly owned subsidiary of Concorde International Group Ltd.\n\n \n \n \n\n \n \nConsequently, Concorde International Group Ltd, through a restructuring which is accounted for as a reorganization of entities under common control, became the ultimate holding company of all the companies mentioned above.\n\n** **\n\n**Recent Developments**\n\n** **\n\nInitial Public Offering\n\n \n\nOn April 22, 2025, the Company\nwas successfully listed on the Nasdaq Capital Market under the symbol “CIGL” on April 22, 2025, and on April 23, 2025, it\nissued an aggregate of 1,250,000 Class A Ordinary Shares, for total gross proceeds of US$5,000,000, receiving net proceeds of US$4,371,614\nafter deducting underwriting discounts and commissions, the non-accountable expense allowance, and other expenses from the offering.\n\n \n\nSubsequently, on May 2, 2025,\nthe representative fully exercised the over-allotment option to purchase an additional 187,500 Class A Ordinary Shares at the public offering\nprice, resulting in gross proceeds of US$750,000. The Company received same-day wire transfers totaling US$693,750 after netting off underwriting\ndiscount in connection with the issuance of the option shares.\n\n \n\nConvertible Notes Financing\n\n \n\nOn June 10, 2024, Softbank\nRobotics Singapore Pte Ltd (“Softbank”) subscribed to a USD 1,000,000 convertible note (“Note”) with a 24-month\nmaturity period with the Company. The Note shall be convertible to the Company’s Class A Ordinary Shares at a conversion price that\nis equal to the higher of (i) the price per share paid by investors for Class A Ordinary Shares in the Company’s initial public\noffering or (ii) a 15% discount to the volume weighted average price during the sixty-day period prior to the date of notice of conversion\nis given to the Company at Softbank’s sole discretion after one year from the date of issuance.\n\n \n\n24\n\n \n\nOn September 12, 2025, Softbank\nfurnished a duly executed note conversion notice (the “Conversion Notice”) pursuant to which Softbank converted the original\nprincipal amount of US$1,000,000.00 and accrued but unpaid interest in the amount of US$36,328.69 of the Note into 259,082 Class A Ordinary\nShares (the “Conversion Shares”), par value US$0.00001 per share, of the Company. According to the Note and the Conversion\nNotice, Softbank discharged the entire loan amount and accrued unpaid interest of the Note in exchange for receiving the Conversion Shares\nat a conversion price of US$4.00 per share.\n\n \n\n2025 Equity Incentive Plans\n\n \n\nOn October 1, 2025, the compensation\ncommittee and board of directors of the Company approved the 2025 equity incentive plans. On November 10, 2025, the Company granted an\naggregate of 4,400,000 restricted Class A Ordinary Shares under its 2025 Equity Incentive Plan to an employee and certain consultants\nof the Company in consideration of services rendered to the Company.\n\n \n\nThe YOOV Merger\n\n \n\nOn March 18, 2026, the\nCompany completed the merger with YOOV Group Holding Limited (“YOOV”), pursuant to an Agreement and Plan of Merger dated\nFebruary 3, 2026 (the “Merger Agreement”) and a waiver agreement dated March 18, 2026 (the “Waiver\nAgreement”), by and between the Company and YOOV. Upon the completion of the transaction, YOOV became a wholly owned\nsubsidiary of the Company. In connection with the closing of the merger with YOOV, the Company issued 200,000,000 newly issued Class\nA Ordinary Shares to shareholders of YOOV.\n\n \n\nYOOV is a holding company\nincorporated in the British Virgin Islands with no material operations of its own. Headquartered in Hong Kong, YOOV operates its sales\nand operations offices in Australia, Hong Kong, Malaysia, and Taiwan. YOOV is a prominent provider of Artificial Intelligence-as-a-Service\n(AIaaS) solutions, specializing in intelligent business automation. AIaaS enables businesses to incorporate AI technologies and capabilities\nthrough a cloud platform without the need for significant infrastructure investment. YOOV derives the vast majority of its revenues from\noperations in Hong Kong. A significant portion of its management, employees, and business operations are based in Hong Kong.\n\n \n\nIn connection with the merger\nwith YOOV, the Company commenced trading under the new ticker symbol “YOOV” on the Nasdaq Capital Market, effective April\n13, 2026. The CUSIP number of the Company’s Class A Ordinary Shares remains unchanged.\n\n \n\n**B. Business overview**\n\n \n\n**Our Business Model**\n\n \n\nConcorde International Group\nLtd is an integrated security services provider that combines physical manpower and innovative technology to deliver effective security\nsolutions. From 2020 to 2021, in recognition of our technology and solutions, we were included in the “Pre-approved IT solutions\nvendor” under the category of security, by the IMDA. From 2022 to 2023, in recognition of our technology solution, the IMDA approved\nour solutions in the Singapore government’s ADS under the Small Medium Enterprises Go Digital Programme. In 2025, we were awarded\nBest FM Partner (Security) 2025 by Singapore International Facility Management Association. See “—Our Awards and Recognitions”\nfor more information. With these awards and recognitions, we believe we are the leading solution provider in Singapore. Through the integration\nof our patented technology solution, we help our clients reduce costs and enhance security. We have experienced significant revenue growth,\nprimarily driven by the increasing labor costs and increasing demands in security and facilities management.\n\n \n\nSince our establishment in\nSingapore in 1997, we have built a track record in the professional security community by consistently providing high-quality security\nmanpower. Recognizing manpower sustainability with our ever-advancing society, in 2014, we decided to transit into a security solution\nservices company using our innovative business model. With our technological inventive solution, we deliver a higher level of security\nperformance with headcount uplifted of higher skillset, better reward as well as much sought after work-life balances for the new era\nsecurity workforce. As a result, we have received numerous awards in Singapore, recognizing our innovative technology and our contribution\nto producing the next generation of reliable security solutions. Anchored by our patented technology applications and pioneering solutions,\nwe provide top-tier security and facilities management services to commercial, financial, industrial, and governmental customers in Singapore.\n\n \n\n25\n\n \n\nWe offer a range of services\nto enhance security and safety: (1) i-Guarding Services; (2) Man-Guarding Services; and (3) Consultancy and Training Services. Our i-Guarding\nServices leverages technology to increase efficiency, with a mobile platform and cluster® aggregation model of higher skillset workforce.\nFor the fiscal years ended December 31, 2025, 2024 and 2023, our i-Guarding Services accounted for 97.1%, 97.6% and 98.1% of our consolidated\nrevenues, respectively. Man-Guarding Services employs trained security officers to maintain safety and deter unlawful activities. For\nthe fiscal years ended December 31, 2025, 2024 and 2023, it accounted for 1.4%, 1.1% and 1.4% of our consolidated revenues, respectively.\nFor the fiscal year ended December 31, 2025, 2024 and 2023, our revenue from others accounted for 1.5%, 1.3% and 0.5% of our consolidated\nrevenue, respectively, which was mainly related to a one-off sales of security consumable and consultancy and training services that provide\nexpert guidance tailored to clients’ needs.\n\n \n\nWe have gained recognition\nfor our disruptive innovation in the integrated monitoring of properties, assets, and building service systems. This ensures round-the-clock\nsurveillance for complete security and operational efficiency. This achievement is made possible through our suite of intelligent security\nsolutions, known as “I-Guarding Services.” One of our flagship services, the groundbreaking I-Man Facility Sprinter, is a\nmobile vehicular platform that revolutionizes security and facility maintenance services. These pioneering solutions not only improve\nworkers’ compensation, skill sets, and working conditions but also redefine the overall business landscape of the industry.\n\n \n\nOur company’s second\nflagship product is the Intelligent Facility Authenticator (“IFA”). The IFA is an innovative solution that leverages advanced\nkiosk technology to enhance security and streamline visitor management. In response to the challenges of limited manpower and rising costs,\nthe IFA system automates the issuance of secure passes and access cards, eliminating the need for physical human interaction. It works\nby sending secure pass-icons to visitors, verifying their identity upon entry, and dispensing access cards with varying levels of security\nclearance. This technology not only enhances security within buildings but also offers efficient visitor management services, making it\na game-changer in industries where kiosk adoption is increasing. Ultimately, IFA represents a significant advancement in security access\ncontrol without relying on human intervention.\n\n \n\nIn August 2025, Concorde\nInternational Group Pte. Ltd. entered into a Software Purchase Agreement with Business Risk Investments Pty Ltd to acquire the proprietary\n“Software Risk” software and related assets. Software Risk is a cloud-based SaaS facilities management platform designed to\ncentralize oversight of maintenance, security, and operational workflows across single or multiple sites, providing an all-in-one system\nfor managing maintenance, physical security, visitor access, cleaning, waste disposal, environmental monitoring, incident reporting, and\ntask scheduling. With intuitive web and mobile applications, managers can automate workflows, receive real-time data, and track resources,\nenabling greater efficiency, cost savings, and higher service standards. Integrated into our patented Mobile Surveillance and Response\necosystem, we believe Software Risk will transform our service offering into a unified platform that combines facilities management with\nmobile surveillance and rapid response, and further enhance incident management, strengthens resource coordination, and delivers greater\noperational visibility across client sites.\n\n \n\nAs of the date of this annual\nreport, approximately 99% of our clients were based in Singapore, with less than 1% of the Group’s revenue derived from Australia.\nDuring the fiscal year ended December 31, 2025, the Group primarily anchored in the Singapore market, where the security services industry\ncontinues to undergo structural transformation. We continued to prioritize the renewal and acquisition of recurring contracts, which provide\nrevenue visibility and support long-term financial stability. For the fiscal year ended December 31, 2025, our top two customers, ST Engineering\nSynthesis Pte Ltd and People’s Association at One Tampines Hub accounted for approximately 9% and 6% of our total revenue, respectively.\nFor the fiscal year ended December 31, 2024, our top two customers, People’s Association at OneTampinesHub and People’s Association\nat OnePunggol accounted for 7% and 6% of our total revenue, respectively. For the fiscal year ended December 31, 2023, our top two customers,\nSingapore University of Technology and Design and People’s Association at OnePunggol accounted for approximately 8% and 7% of our\ntotal revenue, respectively.\n\n \n\n26\n\n \n\n**Our Products and Services**\n\n** **\n\n**Guarding Services**\n\n** **\n\nIn a traditional security\ndeployment, each building or location hires at least one guard per shift. Each 24-hour shift requires at least three guards stationed\nat the building or location. Traditional security deployment, based solely on manpower, faces a few key challenges: (i) unreliability\nof guards due to human nature, as guards often fall asleep while on duty, especially during the night shift; (ii) shortages in hiring\nguards; and (iii) rising labor costs. Our i-Guarding services address these issues and improve the work-life balance of the guards.\n\n \n\nAccording to the diagram,\nour i-Guarding service consists of a mobile monitoring and response vehicle (known as the IFS) that patrols a designated radius, covering\nnumerous buildings or locations within a 24-hour period. Each building or location installs electronic security systems that include access\ncontrol systems, security monitoring cameras, and sensors that can be integrated with our IFS. As a result, instead of deploying guards\nat each location, these electronic security systems can be used. These systems are connected to our IFS via existing telecommunications\ninfrastructures, including Super Wifi, 4G, or 5G networks. Should an alarm be triggered, the IFS will immediately respond via the remote\ncommand center within the vehicle and provide on- site response if the need arises. As a result, clients can reduce their reliance on\nmanpower guards.\n\n \n\n \n\nEach IFS will be manned by\n3 I-specialists. This includes a driver and two security technicians. Each IFS can monitor and manage at least 15 buildings or locations\nwithin the deployment radius. This as a result increases manpower efficiency and enhance service levels due to the reduction of human\nerrors resulting from the traditional security deployment model. Our installation and maintenance technicians, along with our customer\nservice representatives, are dedicated to delivering a high-quality customer service experience. This commitment enhances our brand, improves\ncustomer satisfaction, increases customer retention, and accelerates the adoption of additional interactive automation solutions. The\ncluster® aggregation model allows a team of 3 security officers, with one of them being technically trained, to oversee a cluster\nof premises ranging from 5, 10, to 15 premises within a 15-minute radius.\n\n \n\nFor the fiscal years ended\nDecember 31, 2025, 2024 and 2023, our i-Guarding Services accounted for approximately 97.1%, 97.6% and 98.1% of our consolidated revenues,\nrespectively. It also encompasses the design, implementation, and installation of security systems to protect physical assets and personnel\nfrom potential threats and vulnerabilities. This includes IFA, Visitor Management Systems, Keys Management Systems, security turnstile\nfacilities, Internet of Things devices, and other smart security solutions. It involves a strategic assessment of risks, the selection\nand deployment of appropriate security measures, and the establishment of protocols for ongoing maintenance and monitoring. This integrated\napproach ensures the safety and integrity of the environment or infrastructure in question, encompassing both physical security elements\nsuch as surveillance systems, access controls, and alarm systems. The ultimate goal of a security project and installation is to mitigate\nrisks and safeguard against unauthorized access, theft, and other security threats.\n\n \n\n27\n\n \n\n**Man-Guarding Services**\n\n** **\n\nOur man-guarding services\nprovides a vital layer of protection for various clients and properties. Our security officers are professionally trained and play a critical\nrole in maintaining safety while preventing unauthorized access or unlawful activities in a given area. They offer a combination of prevention,\ndeterrence, and response to maintain a safe and secure environment, making them an integral part of overall security measures. This service\ndoes not involve technology applications or solutions. Service contracts are signed on an annual basis, and revenues are collected and\nrecognized on a monthly basis.\n\n \n\nFor the fiscal year ended\nDecember 31, 2025, 2024 and 2023, our Man-Guarding Services was approximately 1.4%, 1.1% and 1.4% of our total revenues, respectively.\n\n \n\n**Consultancy and Training Service**\n\n \n\nConsultancy and training\nservices provide expert guidance and training support to clients seeking to enhance their security and safety knowledge domains. The service\nis structured specifically to meet the clients’ needs.\n\n \n\nFor the fiscal year ended\nDecember 31, 2025, 2024 and 2023, our Consultancy and Training Service was approximately 1.5%, 0.5% and 0.50% respectively, of our total\nrevenues.\n\n \n\n**Our Awards and Recognitions**\n\n** **\n\nSince our transition into\na security solution services company using our unique business model innovation with our technological inventive solution in 2014, we\nreceived a number of awards and accreditations in recognition of our performance and quality services. The following table sets forth\nthe awards and accreditations we have been granted up to December 31, 2025:\n\n \n\n**Year**\n \n**Award/Recognition**\n \n**Awarded by or Recognized by**\n \n**Recipient**\n\n2014\n \nBusiness Model Innovation Award\n \nSingapore Manufacturing Federation\n \nConcorde Security Pte Ltd\n\n2015\n \nBest Innovative Use of Infocomm Technology Award\n \nSingapore Infocomm Technology Federation (SiTF)\n \nConcorde Security Pte Ltd\n\n2016\n \nMost Innovative Use of Infocomm Technology (Private Sector — SME) Award\n \nIMDA and Singapore Infocomm Technology Federation (SiTF)\n \nConcorde Security Pte Ltd\n\n2017\n \nIP Awards\n \nWorld Intellectual Property Organization — Intellectual Property Office of Singapore (WIPO-IPOS)\n \nConcorde Security Pte Ltd & Concorde Asia Pte Ltd\n\n2017\n \nCase Study: The Transformation of Concorde Security Pte Ltd\n \nNanyang Technopreneurship Center\n \nConcorde Security Pte Ltd\n\n2017\n \nMain Case The Resilience of a Disruptive Innovator: Concorde Security\n \nSingapore Management University and Harvard Business Publishing Education\n \nConcorde Security Pte Ltd\n\n2018 – 2019\n \nIndustry Transformation Map Pilot Programme\n \nIMDA\n \nConcorde Security Pte Ltd\n\n2020 – 2021\n \nPre-approved IT solutions vendor under category of security\n \nIMDA\n \nConcorde Security Pte Ltd\n\n2022 – 2023\n \nADS under the SMEs Go Digital Programme\n \nIMDA\n \nConcorde Security Pte Ltd\n\n2025\n \nBest FM Partner (Security)\n \nSingapore International Facility Management Association\n \nConcorde Security Pte Ltd \n\n2025\n \nSME Icon Award\n \nASEAN International Fair Trade Services, Malaysia\n \nConcorde Security Pte Ltd \n\n** **\n\n28\n\n** **\n\n**Competition**\n\n** **\n\nThe security and facilities\nmanagement industry in Singapore is relatively fragmented. According to the Ministry of Home Affairs in Singapore, there are currently\nmore than 49,000 security officers and 250 security agencies operating in the country. Due to the heightened terrorism threat, increased\ndemand for security services, and a slowing pace of workforce growth, the industry is undergoing transformation to enhance productivity\nand reduce the manpower-intensive nature of the job requirements.\n\n \n\nThis industry faces high\ncompetition and pricing pressures. Its primary competitor dominating players are Certis Cisco Security, Aetos Security and SATS Security\nwhich is majorly owned by the Singapore government. Additionally, there are several other international security service providers, including\nSecuritas, Prosegur and Allied Universal G4S. However, most of these competitors continue to focus on providing labor-intensive services.\n\n \n\nConcorde stands out as the\nonly security services provider that has successfully transitioned into a mobile command center security services model based on a cluster®\nof buildings concept with dedicated on-site response.\n\n \n\n**Our Competitive Strengths**\n\n \n\nWe believe that the following\ncompetitive strengths contribute to our success and differentiate us from our competitors:\n\n** **\n\n \n●\n**Proven Solution that is protected by Patents.** Our patent-protected solution that has been proven to reduce the need for manpower while maintaining, and even increasing, the quality of service levels for security and facilities management.\n\n \n \n \n\n \n●\n**Superior-Class Customer Service.** Rather than competing purely on price, we emphasize the quality of our services, which we believe is distinguished by superior customer service.\n\n \n \n \n\n \n●\n**Deep industrial knowledge and experience.** We believe that our focus on safety and security, coupled with our sales consultants, our solid reputation for and expertise in providing reliable security and monitoring services through our patent-protected business model vide our cluster® mobile command centers, our dependable product solutions, and our highly skilled installation and service capabilities, position us well to compete with both traditional and new competitors.\n\n** **\n\n**Growth Strategy**\n\n \n\nWe believe that implementing\nthe following growth strategies will continue to position our company as the leader in the markets we serve:\n\n** **\n\n \n●\n**Continue to grow our recurring revenue business.**Monthly recurring revenue allows us to achieve a more consistent and predictable income stream. In addition, it should improve our profitability as we continue to roll out more i-Guarding services. Each building or location deployed under the I-Guarding represents incremental revenues with almost the same cost levels as one IFS can service at least 15 or more buildings or locations. Serving our recurring customers should require lower acquisition and marketing costs as compared to new customers. Hence, signing on more buildings or locations will lead to increased revenues and profitability. We see significant market opportunities for our services because customers in our target markets prefer outsourced security and facilities management services that offer real-time security monitoring for continuous protection and rapid responses to security breaches and fire alarms. We intend to continue pursuing opportunities for recurring revenue by developing new and innovative products and by continuing our aggressive sales and marketing efforts. In order to build scale, we will have to continue to spend on marketing and development. We plan to enhance our operational capacity by expanding our fleet of IFS (response vehicles). Concurrently, we will increase management hiring to implement more efficient processes and optimize routes and schedules to maximize efficiency. As a result, this may impact our overall profitability.\n\n \n\n29\n\n \n\n \n●\n\n**Maintain our commitment to best-in-class customer\nservice.**We are focused on fostering a culture dedicated to providing industry-leading customer service to our extensive customer\nbase. We operate through a fleet of 5 cluster command centers in Singapore. From these mobile locations, our teams offer monitored security,\ninteractive residential and commercial automation solutions, including installation, field service, repair, ongoing monitoring, and customer\nsupport.\n\n \n\nOur installation and service technicians, along\nwith our customer service representatives, are dedicated to delivering a high-quality customer service experience. This commitment enhances\nour brand, improves customer satisfaction, increases customer retention, and accelerates the adoption of additional interactive automation\nsolutions. As a result, it drives returns on new customer acquisition expenditures and enhances cash flow generation. We pride ourselves\non providing on-site responses within a cluster® radius of 15 minutes of security alerts for the majority of our customers.\n\n \n \n \n\n \n●\n**Maintain our high-quality customer base.** We believe customer retention is also strongly correlated with the credit quality of our customers. We plan to maintain our focus on strict underwriting standards and will establish processes to evaluate potential new customers’ creditworthiness to improve our customer selection or require upfront payments for higher-risk customers. We expect that our focus on generating high-quality customers will continue to result in a portfolio of customers with attractive credit scores, thereby improving retention, decreasing credit risk exposure, and generating a strong, long-term customer portfolio that generates robust returns on new customer acquisition expenditures and drives strong cash flow generation.\n\n \n \n \n\n \n●\n**Disciplined expansion of our patented protected solution beyond Singapore.**Building upon our achievements in the Singapore market, we continue to execute our regional expansion roadmap, pivoting from traditional security services toward a high-margin, Technology-as-a-Service model. Over the next 15 months, our strategy is underpinned by a robust sales pipeline and secured multi-year contracts from Singapore Statutory Boards. These high-value partnerships validate our IFS cluster aggregation model, which successfully transitions traditional man-guarding into an innovation-led ecosystem that enhances service delivery while effectively mitigating rising labor costs.\n\n** **\n\n**Marketing and Advertising**\n\n** **\n\nAs of the date of this annual\nreport, we serve approximately 92 customers in Singapore. Our marketing strategies target both our existing customers and potential new\nones.\n\n \n\nWe manage our existing customer\nbase to maximize customer lifetime value. This involves continuous evaluation of our product offerings, pricing, and service strategies,\nas well as cost management to provide better services and upgrade customers to technology-related solutions, ultimately achieving long\ncustomer tenure. Our ability to increase average selling prices for individual customers depends on factors such as service quality, the\nintroduction of additional features, and the competitive environment.\n\n \n\nTo support customer base\ngrowth and enhance brand awareness, we promote our seminars, events, and public speaking opportunities.\n\n** **\n\n**Seasonality**\n\n** **\n\nSeasonality does not materially\naffect our business or operating results. Due to our business diversification, we have not experienced significant seasonal fluctuations\nin market demands.\n\n \n\n30\n\n \n\n**Collaborations**\n\n \n\n**S/No**\n** **\n**Company/Organization**\n** **\n**Summary\nof Collaboration**\n\n1\n \nST Engineering Synthesis Pte Ltd\n \nProvision of technology solutions including security services for the Punggol Digital District as part of Singapore’s Smart Nation initiative, in which is a key project aimed at integrating digital technology and smart solutions to create a modern and connected urban environment.\n\n2\n \nInfocomm Media Development Authority\n \nFunding grants from the Singapore government to support technological transformation of clients in Singapore.\n\n3\n \nKyowa Security Guard & General Services Pte Ltd\n \nProvision of I Guarding Services and Solutions to reduce the reliance of security manpower and enhance of security outcome.\n\n4\n \nExploit Technologies Pte Ltd\n \nDeployment and integration of network devices with the TV white space technology in Singapore.\n\n5\n \nGuardforce AI Singapore Pte Ltd\n \nDistribution and technology integration of Guardforce AI’s robotics solutions in Singapore. Target market includes shopping centers, hotels, exhibition centers.\n\n6\n \nRyde Group Ltd.\n \nProvision of cross-sector workforce transformation in Singapore by creating up to 5,000 flexible security-related job opportunities for Ryde’s driver-partners through the integration of Concorde’s patented Cluster™ Mobile Command Center technology and specialized training.\n\n \n\n**Legal Proceedings**\n\n \n\nSee Item 8. Financial Information—A.\nConsolidated Statements and Other Financial Information—Legal Proceedings.”\n\n \n\n**Regulations**\n\n \n\nOur business operations are\nnot subject to any special legislation or regulatory controls other than those generally applicable to companies and businesses incorporated\nand/or operating in Singapore.\n\n \n\n*Police Regulatory Department (PRD)*\n\n \n\nThe PRD of Singapore regulates sectors that pose risks to a safe, secure\nand orderly society under various regimes in support of Singapore’s Police Force’s mission to prevent, deter and detect crime.\nThe PRD is responsible for policy formulation, application processing and enforcement action across its licensing regimes. The private\nsecurity industry falls under the PRD’s licensing regime which is regulated by the Private Security Industry Act 2007 and its subsidiary\nlegislation.\n\n \n\n*Personal Data Protection Act (PDPA)*\n\n* *\n\nData Protection Obligations\n\n \n\nThe PDPA establishes the\nSingapore regime for the protection of personal data, and governs the collection, use and disclosure of personal data by organizations.\nIn this regard, “personal data” as defined under the PDPA refers to data, whether true or not, about an individual who can\nbe identified from that data or other information to which the organization has or is likely to have access.\n\n \n\nAn organization is required\nto comply with, amongst other things, the following obligations prescribed by the PDPA:\n\n \n\n \n(a)\nPurpose limitation obligation — personal data must be collected, used or disclosed only for purposes that a reasonable person would consider appropriate in the circumstances, and if the individual concerned has been informed of the said purpose;\n\n \n\n \n(b)\nNotification obligation — individuals must be notified of the purposes for the collection, use or disclosure of their personal data, prior to such collection, use or disclosure;\n\n \n\n31\n\n \n\n \n(c)\nConsent obligation — the consent of individuals must be obtained for any collection, use or disclosure of their personal data, unless exceptions apply. Additionally, an organization must allow the withdrawal of consent which has been given or is deemed to have been given;\n\n \n \n \n\n \n(d)\nAccess and correction obligations — when requested by an individual and unless exceptions apply, an organization must: (i) provide that individual with access to his personal data in the possession or under the control of the organization and information about the ways in which his personal data may have been used or disclosed during the past year, and/or (ii) correct an error or omission in his personal data that is in the possession or under the control of the organization;\n\n \n \n \n\n \n(e)\nAccuracy obligation — an organization must make reasonable efforts to ensure that personal data collected by or on its behalf is accurate and complete if such data is likely to be used by the organization to make a decision affecting the individual to whom the personal data relates or if such data is likely to be disclosed to another organization;\n\n \n \n \n\n \n(f)\nProtection obligation — an organization must implement reasonable security arrangements for the protection of personal data in its possession or under its control;\n\n \n \n \n\n \n(g)\nRetention limitation obligation — an organization must not keep personal data for longer than it is necessary to fulfill; (i) the purposes for which it was collected, or (ii) a legal or business purpose;\n\n \n \n \n\n \n(h)\nTransfer limitation obligation — personal data must not be transferred out of Singapore except in accordance with the requirements prescribed under the PDPA; and\n\n \n \n \n\n \n(i)\nOpenness obligation — an organization must implement the necessary policies and procedures in order to meet the obligations under the PDPA and shall make information about its policies and procedures available on request.\n\n \n\nOrganizations have mandatory\nobligations to assess data breaches they suffer, and to notify the Singapore Personal Data Protection Commission (“PDPC”)\nand the relevant individuals where the data breach is of a certain severity.\n\n \n\nThe PDPA creates various\noffenses in connection with the improper use of personal data, certain methods of collecting personal data and certain failures to comply\nwith the requirements under the PDPA. These offenses may be applicable to organizations, their officers and/or their employees. Offenders\nare liable on conviction to fines and/or imprisonment. The PDPA empowers the PDPC with significant regulatory powers to ensure compliance\nwith the PDPA, including powers to investigate, give directions and impose a financial penalty of up to S$1 million or 10% of the annual\nturnover in Singapore of the organization. In addition, the PDPA created a right of private action, pursuant to which the Singapore courts\nmay grant damages, injunctions and relief by way of declaration, to persons who suffer loss or damages directly as a result of contraventions\nof certain requirements under the PDPA.\n\n \n\n*Infocomm Media Development Authority (IMDA)*\n\n \n\nThe IMDA is a statutory board\nunder the Singapore Ministry of Communications and Information. IMDA provides numerous programmes, policies and grants that cater to industries\nand communities. IMDA also protects consumers’ privacy through the PDPC.\n\n \n\n*Regulations on Labor*\n\n \n\nThe Employment Act 1968 of\nSingapore (the “Employment Act”) generally extends to all employees, with the exception of certain groups of employees. It\nprovides employees falling within its ambit protections such as minimum notice periods, maximum working hours, a maximum amount of deductions\nfrom wages, minimum holidays and rest days, maternity and childcare leave, paid childcare leave, sick leave, etc. The Employment Act also\napplies to employees who are foreigners so long as they fall within the definition of “employee” under the Employment Act.\nIn addition, the employment of foreign manpower in Singapore is also governed by the Employment of Foreign Manpower Act 1990 of Singapore.\n\n \n\n32\n\n \n\nAside from minimum benefits\nin respect of the aforesaid terms of employment in the Employment Act, employees in Singapore are entitled to contributions to the central\nprovident fund by the employer as prescribed under the Central Provident Fund Act 1953 of Singapore. The specific contribution rate to\nbe made by employers varies depending on whether the employee is a Singapore citizen or permanent resident and the age group and wage\nband of the employee. Generally, for employees who are Singapore citizens, 55 years old or below and that earn more S$750 a month, the\nemployer’s contribution rate is 17% of the employee’s wages.\n\n \n\n*Road Traffic Act 1961*\n\n \n\nThe Road Traffic Act 1961\nin Singapore is a comprehensive piece of legislation that outlines the legal framework for road safety and regulation in the country.\nIt covers various aspects of road traffic, including vehicle registration and licensing, traffic rules and regulations, the powers of\ntraffic police, and the penalties for offenses related to road safety. The Act plays a crucial role in maintaining order on Singapore’s\nroadways, ensuring the safety of all road users, and facilitating the efficient functioning of the transportation system.\n\n* *\n\n*Workplace Safety and Health Act 2006*\n\n \n\nThe Workplace Safety and\nHealth Act covers the safety, health and welfare of persons at work in a workplace. It requires stakeholders to take reasonably practicable\nsteps for the safety and health of workers and others affected by work.\n\n \n\nRelated legislation is the\nWork Injury Compensation Act 2019 which provides for the payment of compensation to employees for injuries suffered arising out of and\nin the course of their employment and to regulate providers of insurance for liability.\n\n \n\n**C. Organizational Structure**\n\n \n\nSee “Item 4. Information\non the Company—A. History and Development of the Company—Corporate Structure” above for details of our current organizational\nstructure.\n\n \n\n**D. Property, Plants and Equipment**\n\n** **\n\n**Intellectual Property**\n\n \n\nPatents, trademarks, copyrights,\nand other proprietary rights are important to our business, thus we continuously refine our intellectual property strategy to maintain\nand improve our competitive position. We register new intellectual property to protect our ongoing technological innovations and strengthen\nour brand, and we take appropriate action against infringements or misappropriations of our intellectual property rights by others. We\nreview third-party intellectual property rights to help avoid infringement and to identify strategic opportunities.\n\n \n\nWe own a portfolio of patents\nand patent applications that relate to a variety of monitored security and automation technologies utilized in our business. Our portfolio\nof patent applications are as follows:\n\n \n\n33\n\n \n\nPatent\n#1: A mobile control unit, a facility management system, a mobile unit control system, a facility management method and a mobile unit\ncontrol method\n\n \n\n**Country**\n \n**Patent\nNumber**\n \n**Grant\nDate**\n \n**Notes**\n\nAustralia\n \n2013403341\n \n29 November 2018\n \n—\n\nAustria\n \n—\n \n3 March 2021\n \nValidated\n\nBelgium\n \n—\n \n3 March 2021\n \nValidated\n\nCanada\n \n2927618\n \n12 November 2024\n \n—\n\nDenmark\n \n—\n \n3 March 2021\n \nValidated\n\nEurope\n \n3058557\n \n3 March 2021\n \n—\n\nFinland\n \n—\n \n3 March 2021\n \nValidated\n\nFrance\n \n—\n \n3 March 2021\n \nValidated\n\nGermany\n \n—\n \n3 March 2021\n \nValidated\n\nIndonesia\n \nIDP000068823\n \n18 May 2020\n \n—\n\nIreland\n \n—\n \n3 March 2021\n \nValidated\n\nItaly\n \n—\n \n3 March 2021\n \nValidated\n\nLuxembourg\n \n—\n \n3 March 2021\n \nValidated\n\nMalaysia\n \nMY-187148-A\n \n4 September 2021\n \n—\n\nMexico\n \n366057\n \n26 June 2019\n \n—\n\nNetherlands\n \n—\n \n3 March 2021\n \nValidated\n\nPortugal\n \n—\n \n3 March 2021\n \nValidated\n\nSaudi Arabia\n \n6402\n \n2 April 2019\n \n—\n\nSingapore\n \n11201401790Q\n \n30 March 2015\n \n—\n\nSouth Africa\n \n2016/03082\n \n29 November 2017\n \n—\n\nSpain\n \n—\n \n3 March 2021\n \nValidated\n\nSri Lanka\n \n18746\n \n16 October 2017\n \n—\n\nSweden\n \n—\n \n3 March 2021\n \nValidated\n\nSwitzerland & Liechtenstein\n \n—\n \n3 March 2021\n \nValidated\n\nTaiwan\n \n1647662\n \n11 January 2019\n \n—\n\nThailand\n \n90976\n \n16 January 2023\n \n—\n\nTurkey\n \nTR2021009092T4\n \n3 March 2021\n \nValidated\n\nUK\n \n—\n \n3 March 2021\n \nValidated\n\nUS\n \nUS 11,854,354B2\n \n26 December 2023\n \n \n\nVietnam\n \n28278\n \n7 April 2021\n \n—\n\n \n\nContinue-In-Part\nPatent Applications (pending examination)\n\n \n\n**Country**\n \n**Patent\nApplication Number**\n \n**Filing\nDate**\n \n**Notes**\n\nUS (continue-in-part)\n \n18512004\n \n16 November 2023\n \nPending Exam/Grant\n\nIndia\n \n202444088403\n \n15 November 2024\n \nPending Exam/Grant\n\nJapan\n \n2024-199666\n \n15 November 2024\n \nPending Exam/Grant\n\nNew Zealand\n \n816292\n \n15 November 2024\n \nPending Exam/Grant\n\nQatar\n \nQA/202411/00952\n \n16 November 2023\n \nPending Exam/Grant\n\nUAE\n \nP2024-03074\n \n16 November 2023\n \nPending Exam/Grant\n\nPCT\n \nPCT/SG2024/050740\n \n15 November 2024\n \nPending Exam/Grant\n\n \n\nPatent\n#2: Security control system for granting access and security control method thereof\n\n \n\n**Country**\n \n**Patent Number**\n \n**Grant Date**\n \n**Notes**\n\nAustralia\n \n2014398695\n \n3 January 2019\n \n—\n\nCambodia\n \nKH/GRRP.SG/00009\n \n5 March 2018\n \n—\n\nCanada\n \n2,953,503\n \n17 September 2019\n \n—\n\nEurope\n \n3161564\n \n31 July 2024\n \n—\n\nHong Kong\n \nHK1237435\n \n28 March 2025\n \n—\n\nIndonesia\n \nIDP000054272\n \n30 October 2018\n \n—\n\nJapan (Divisional)\n \n6816218\n \n25 December 2020\n \n—\n\nKorea\n \n19-2387126\n \n12 April 2022\n \n—\n\nMalaysia\n \nMY-177786-A\n \n23 September 2020\n \n—\n\nPhilippines\n \n1-2016 502598\n \n16 March 2022\n \n—\n\nQatar\n \nB.K.Q. 184/2021\n \n28 November 2021\n \n—\n\nSaudi Arabia\n \nSA 7729\n \n21 March 2021\n \n—\n\nSingapore\n \n11201407621R\n \n29 March 2017\n \n—\n\nSouth Africa\n \n2017/00401\n \n25 April 2018\n \n—\n\nTaiwan\n \n1653608\n \n11 March 2019\n \n—\n\nThailand\n \n100298\n \n22 April 2024\n \n—\n\nUAE\n \n4981\n \n16 December 2022\n \n \n\nUS\n \nUS 9,786,106 B2\n \n10 October 2017\n \n—\n\nVietnam\n \n31865\n \n4 April 2022\n \n—\n\n34\n\n \n\nEurope Patent Validated Countries:\n\n \n\n**Country**\n \n**Patent Number**\n \n**Grant Date**\n \n**Notes**\n\nUnitary Patent System\n\n(18 Countries)\n\n \n3161564\n \n31 July 2024\n \nValidated\n\nCzech Republic\n \n—\n \n31 July 2024\n \nValidated\n\nIreland\n \n—\n \n31 July 2024\n \nValidated\n\nMonaco\n \n—\n \n31 July 2024\n \nValidated\n\nNorway\n \n—\n \n31 July 2024\n \nValidated\n\nPoland\n \n—\n \n31 July 2024\n \nValidated\n\nSpain\n \n—\n \n31 July 2024\n \nValidated\n\nSwitzerland & Liechtenstein\n \n—\n \n31 July 2024\n \nValidated\n\nTurkey\n \n—\n \n31 July 2024\n \nValidated\n\nUK\n \n—\n \n31 July 2024\n \nValidated\n\n \n\nPatent #3: An offshore security\nmonitoring system and method\n\n \n\n**Country**\n \n**Patent Number**\n \n**Grant Date**\n \n**Notes**\n\nAustralia\n \n2014405635\n \n25 July 2019\n \n—\n\nEurope\n \n3188964\n \n4 August 2021\n \n—\n\nMalaysia\n \nMY-184329-A\n \n1 April 2021\n \n—\n\nSingapore\n \n11201701752U\n \n7 April 2020\n \n—\n\nUK\n \n3188964\n \n4 August 2021\n \nValidated\n\nUS\n \nUS 9,953,513 B2\n \n24 April 2018\n \n—\n\n \n\nPatent #4: Mobile Monitoring\nSystem, Mobile Monitoring Unit and Mobile Monitoring Method\n\n \n\n**Country**\n \n**Patent Number**\n \n**Grant Date**\n \n**Notes**\n\nAustralia\n \n2018425896\n \n2 May 2024\n \n—\n\nBangladesh\n \n1006362\n \n9 February 2022\n \n—\n\nEurope\n \n—\n \n—\n \nPending Exam/Grant\n\nHong Kong\n \n—\n \n—\n \nPending Registration of EP Grant\n\nMalaysia\n \nMY-206494-A\n \n18 December 2024\n \n—\n\nQatar\n \n—\n \n—\n \nPending Exam/Grant\n\nSingapore\n \n11202011337V\n \n17 September 2025\n \n—\n\nUAE\n \n8805\n \n17 September 2025\n \n—\n\nUS\n \nUS 11,688,270 B2\n \n27 June 2023\n \n \n\nMalaysia (Divisional)\n \n—\n \n—\n \nPending Exam/Grant\n\n \n\nWe also own a portfolio of trademarks and trademark\napplications in Singapore and globally as shown below:\n\n \n\nTrademark #1: CONCORDE\n\n \n\n**Country**\n \n**Trademark Number**\n \n**Grant Date**\n \n**Notes**\n\nSingapore\n \n40201806077W\n \n4 July 2019\n \n—\n\nInternational Registration (IR)\n \n1446192\n \n2 October 2018\n \n—\n\nIR — UK\n \n1446192\n \n15 April 2019\n\n—\n\n \n\n35\n\n \n\nTrademark #2: CLUSTER\n\n \n\n**Country**\n \n**Trademark Number**\n \n**Grant Date**\n \n**Notes**\n\nSingapore\n \n40202110784Q\n \n16 December 2021\n \n—\n\n \n\nTrademark #3: Aggregate\n\n \n\n**Country**\n \n**Trademark Number**\n \n**Grant Date**\n \n**Notes**\n\nSingapore\n \n40202503358T\n \n31 July 2025\n \n—\n\n \n\nDesign #1: Terminal with Screen\n\n \n\n**Country**\n \n**Design Number**\n \n**Grant Date**\n \n**Notes**\n\nSingapore\n \n30201703562R\n \n5 April 2017\n \n—\n\n \n\n**Facilities**\n\n \n\nWe own approximately 735\nsqm of office space in Singapore, which serves as our corporate headquarters. It is located at 3 Ang Mo Kio Street 62, #01-49 LINK@AMK,\nSingapore 569139.\n\n \n\nAdditionally, we lease approximately\n292 sqm of office space in Singapore, as follows:\n\n \n\n●Block\n808 French Road, #03-27 Kitchener Complex, Singapore 200808. Approximately 92 (Sqm), with a term from July 1, 2024 to June 30, 2027."}