| Schedule of principal subsidiaries |
The
Company’s principal subsidiaries at March 31, 2025, are set out below:
Schedule
of principal subsidiaries
| | |
| |
| |
Percentage
of
ownership held by the
Company |
| Company
Name | |
Place
of incorporation | |
Principal
activities | |
Directly | |
Indirectly |
| Seamless
Group Inc. | |
Cayman
Islands | |
Investment
holding | |
100% | |
|
| Dynamic
Investment Holdings Limited | |
Cayman
Islands | |
Investment
holding | |
| |
100% |
| Bagus
Fintech Pte. Ltd. | |
Singapore | |
Providing
business center services | |
— | |
100% |
| CURRENC
Capital Inc. | |
Cayman
Islands | |
Investment
holding | |
100% | |
— |
| CURRENC
US INC. | |
United
States | |
Investment
holding | |
100% | |
— |
| CURRENC
Power Inc. | |
Cayman
Islands | |
Investment
holding | |
100% | |
— |
| Seamless
AI Inc. | |
BVI | |
Investment
holding | |
— | |
51% |
| Seamless
Lab Limited | |
Hong
Kong | |
Development
of AI call center and system integration | |
— | |
51% |
| CURR-ARC
GP Limited | |
Hong
Kong | |
Acting
as General Partner of Limited Partnership Fung | |
— | |
100% |
| CURR-ARC
AI Fund 1 LPF | |
Hong
Kong | |
Limited
Partnership Fund | |
— | |
100% |
| Tranglo
Sdn. Bhd. | |
Malaysia | |
Provision
of international airtime reload, international money transfer services, its related implementation, technical and maintenance services | |
— | |
60% |
| PT
Tranglo Indonesia | |
Indonesia | |
Operating
money remittance business | |
— | |
60% |
| PT
Tranglo Solusindo | |
Indonesia | |
Providing
and sourcing airtime and other related services | |
— | |
60% |
| Tranglo
(MEA) Limited | |
Hong
Kong | |
Providing
and sourcing airtime and other related services | |
— | |
60% |
| Tranglo
Europe Ltd | |
United
Kingdom | |
Operating
money remittance business | |
— | |
60% |
| Tranglo
Pte. Ltd. | |
Singapore | |
Operating
money remittance business | |
— | |
60% |
| Treatsup
Sdn. Bhd. | |
Malaysia | |
Research,
development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related
to the application | |
— | |
60% |
| Dynamic
Indonesia Holdings Limited | |
Cayman
Islands | |
Investment
holding | |
— | |
100% |
CURRENC
GROUP INC. AND SUBSIDIARIES
NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
1 Organization and business (continued)
| Dynamic Indonesia Pte. Ltd. | |
Singapore | |
Retail sales via the internet and development of other software and programming activities | |
| — | | |
| 82.0 | % |
| PT Dynamic Wallet Indonesia | |
Indonesia | |
Business operations have not commenced | |
| — | | |
| 82.2 | % |
| PT Walletku Indompet Indonesia | |
Indonesia | |
(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher | |
| — | | |
| 82.2 | % |
|
The
Company’s principal subsidiaries at December 31, 2024 are set out below:
Schedule
of principal subsidiaries
| |
|
|
|
|
|
Percentage
of ownership held by the Company |
|
| Company
Name |
|
Place
of incorporation |
|
Principal
activities |
|
Directly |
|
Indirectly |
|
| Seamless
Group Inc. |
|
Cayman
Islands |
|
Investment
holding |
|
100% |
|
|
|
| Dynamic
Investment Holdings Limited |
|
Cayman
Islands |
|
Investment
holding |
|
|
|
100% |
|
| Bagus
Fintech Pte. Ltd. |
|
Singapore |
|
Providing
business center services |
|
- |
|
100% |
|
| Dynamic
(Asia) Holdings Limited |
|
Cayman
Islands |
|
Investment
holding |
|
- |
|
100% |
|
| Seamless
AI Inc. |
|
BVI |
|
Investment
holding |
|
- |
|
51% |
|
| Seamless
Lab Limited |
|
Hong
Kong |
|
Development
of AI call center and system integration |
|
- |
|
51% |
|
| Tranglo
Sdn. Bhd. |
|
Malaysia |
|
Provision
of international airtime reload, international money transfer services, its related implementation, technical and maintenance services |
|
- |
|
60% |
|
| PT
Tranglo Indonesia |
|
Indonesia |
|
Operating
money remittance business |
|
- |
|
60% |
|
| PT
Tranglo Solusindo |
|
Indonesia |
|
Providing
and sourcing airtime and other related services |
|
- |
|
60% |
|
| Tranglo
(MEA) Limited |
|
Hong
Kong |
|
Providing
and sourcing airtime and other related services |
|
- |
|
60% |
|
| Tranglo
Europe Ltd |
|
United
Kingdom |
|
Operating
money remittance business |
|
- |
|
60% |
|
| Tranglo
Pte. Ltd. |
|
Singapore |
|
Operating
money remittance business |
|
- |
|
60% |
|
| Treatsup
Sdn. Bhd. |
|
Malaysia |
|
Research,
development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related
to the application |
|
- |
|
60% |
|
| Dynamic
Indonesia Holdings Limited |
|
Cayman
Islands |
|
Investment
holding |
|
- |
|
100% |
|
| Dynamic
Indonesia Pte. Ltd. |
|
Singapore |
|
Retail
sales via the internet and development of other software and programming activities |
|
- |
|
82.0% |
|
| PT
Dynamic Wallet Indonesia |
|
Indonesia |
|
Business
operations have not commenced |
|
- |
|
82.2% |
|
| PT
Walletku Indompet Indonesia |
|
Indonesia |
|
(i)
Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms
for commercial purposes, and (iii) software publisher |
|
- |
|
82.2% |
|
|
|
| Schedule of principal subsidiaries |
|
|
The
Company’s principal subsidiaries at December 31, 2023 are set out below:
Schedule
of principal subsidiaries
| | |
| |
| |
Percentage of ownership held by the Company | |
| Company Name | |
Place of incorporation | |
Principal activities | |
Directly | | |
Indirectly | |
| Dynamic Investment Holdings Limited | |
Cayman Islands | |
Investment holding | |
| 100 | % | |
| - | |
| Dynamic (Asia) Group Inc. | |
British Virgin Islands | |
Investment holding | |
| - | | |
| 100 | % |
| TNG (Asia) Limited | |
Hong Kong | |
Provision of mobile electronic wallet | |
| 100 | % | |
| - | |
| Tranglo Sdn. Bhd. | |
Malaysia | |
Provision of international airtime reload, international money transfer services, its related implementation, technical and maintenance services | |
| - | | |
| 60 | % |
| 未來網絡科技投資股份有限公司 | |
Taiwan | |
Investment holding | |
| - | | |
| 100 | % |
| GEA Holdings Limited | |
Cayman Islands | |
Investment holding | |
| - | | |
| 100 | % |
| GEA Limited | |
Hong Kong | |
Operating a global fund transfer platform for financial institutions, e-wallet operators and other participants | |
| - | | |
| 100 | % |
| GEA Pte Ltd. | |
Singapore | |
Transaction and payment processing services | |
| - | | |
| 100 | % |
| Bagus Fintech Pte. Ltd. | |
Singapore | |
Providing business center services | |
| - | | |
| 100 | % |
| Dynamic (Asia) Holdings Limited | |
Cayman Islands | |
Investment holding | |
| - | | |
| 100 | % |
| Dynamic FinTech Group (HK) Limited | |
Hong Kong | |
Provision of corporate governance consultancy, management and advisory services | |
| - | | |
| 100 | % |
| Tranglo Holdings Limited | |
Cayman Islands | |
Investment holding | |
| - | | |
| 100 | % |
| The WSF Group Holdings Limited | |
British Virgin Islands | |
Investment holding | |
| - | | |
| 100 | % |
| The Wall Street Factory Limited | |
Hong Kong | |
Providing business center services | |
| - | | |
| 100 | % |
| Bagus Financial Services Limited | |
Hong Kong | |
Provision of IR services and PR function events | |
| - | | |
| 100 | % |
SEAMLESS
GROUP INC. AND SUBSIDIARIES
NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS
| 1 |
Organization
and business (Continued) |
| | |
| |
| |
Percentage of ownership held by the Company | |
| Company Name | |
Place of incorporation | |
Principal activities | |
Directly | | |
Indirectly | |
| PT Tranglo Indonesia | |
Indonesia | |
Operating money remittance business | |
| - | | |
| 60 | % |
| PT Tranglo Solusindo | |
Indonesia | |
Providing and sourcing airtime and other related services | |
| - | | |
| 60 | % |
| Tranglo (MEA) Limited | |
Hong Kong | |
Providing and sourcing airtime and other related services | |
| - | | |
| 60 | % |
| Tranglo Europe Ltd | |
United Kingdom | |
Operating money remittance business | |
| - | | |
| 60 | % |
| Tranglo Pte. Ltd. | |
Singapore | |
Operating money remittance business | |
| - | | |
| 60 | % |
| Tik FX Malaysia Sdn. Bhd. | |
Malaysia | |
Dormant | |
| - | | |
| 60 | % |
| Treatsup Sdn. Bhd. | |
Malaysia | |
Research, development and commercialisation of Treatsup application and provision of implementation, technical services and maintenance related to the application | |
| - | | |
| 60 | % |
| Dynamic Indonesia Holdings Limited | |
Cayman Islands | |
Investment holding | |
| - | | |
| 59.2 | % |
| Dynamic Indonesia Pte. Ltd. | |
Singapore | |
Retail sales via the internet and development of other software and programming activities | |
| - | | |
| 49.8 | % |
| PT Dynamic Wallet Indonesia | |
Indonesia | |
Business operations have not commenced | |
| - | | |
| 49.9 | % |
| PT Walletku Indompet Indonesia | |
Indonesia | |
(i) Retail commerce through media, for textile commodities, clothing, footwear and personal needs, (ii) web portal and/or digital platforms for commercial purposes, and (iii) software publisher | |
| - | | |
| 49.9 | % |
|