UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
(Amendment No. 1)
(Mark One)
OR
For
the fiscal year ended
OR
For the transition period from _______ to _______
OR
Date of event requiring this shell company report
Commission
File Number:
(Exact name of Registrant as specified in its charter)
Not Applicable
(Translation of Registrant’s name into English)
Jurisdiction of incorporation or organization
(Address of principal executive office)
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered, pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Securities registered or to be registered pursuant to Section 12(g) of the Act: None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None
Indicate the number of outstanding shares of each of the issuer’s classes of capital stock or common stock as of the close of business covered by the annual report: Class A Ordinary Shares, and Class B Ordinary Shares, as of December 31, 2025.
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐
If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ | |
| 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 13(a) of the Exchange Act.
† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.
Indicate
by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.
If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
Other ☐
If “Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐
If
this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes ☐ No
(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐
EXPLANATORY NOTE
Except as described above, this Amendment No. 1 does not amend, update or otherwise modify any other information contained in the Original Filing. This Amendment No. 1 does not reflect events that may have occurred after the filing date of the Original Filing.
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6.A. Directors and Senior Management (Amended and Restated)
The following table provides information regarding our executive officers and directors as of the date hereof:
| Directors and Executive Officers | Age | Position/Title | ||
| Lim Heng Hai(1)(2)(3) | 47 | Chairman of the Board, Chief Executive Officer | ||
| Ng Ling Soon | 52 | Director, Chief Information Officer | ||
| Ling Wee Seng(1)(2) | 64 | Independent Director | ||
| Masayuki Tagai(1) | 64 | Independent Director | ||
| Jim Northey(2)(3) | 66 | Independent Director | ||
| In Weiyee(3) | 60 | Independent Director | ||
| Sibil Thomas | 47 | Financial Controller cum Chief Accounting Officer |
| (1) Member of the Audit Committee | |
| (2) Member of the Compensation Committee | |
| (3) Member of the Nomination Committee |
Item 6.C. Board Practices (Amended and Restated)
Our board of directors is responsible for overseeing our business and affairs. Our directors are elected to serve until the expiration of their respective terms or until their successors are duly elected and qualified.
We have established an audit committee, a compensation committee and a nominations committee under our board of directors. Each committee operates pursuant to a written charter adopted by our board of directors.
Audit Committee
Our audit committee consists of Mr. Masayuki Tagai, Mr. Ling Wee Seng and Mr. Lim Heng Hai, and is chaired by Mr. Masayuki Tagai.
Mr. Masayuki Tagai and Mr. Ling Wee Seng satisfy the independence requirements of the NYSE American Company Guide and Rule 10A-3 under the Exchange Act. Our board of directors has determined that Mr. Masayuki Tagai qualifies as an “audit committee financial expert” as defined under Item 16A of Form 20-F.
The audit committee assists the board of directors in overseeing our accounting and financial reporting processes and the audits of our financial statements. Its responsibilities include, among other things:
| ● | appointing, compensating and overseeing the work of our independent registered public accounting firm; | |
| ● | reviewing and discussing with management and the independent registered public accounting firm our annual audited financial statements; | |
| ● | reviewing the adequacy and effectiveness of our internal control over financial reporting; | |
| ● | reviewing and approving related party transactions; and | |
| ● | monitoring compliance with applicable laws and regulations. |
Compensation Committee
Our compensation committee consists of Mr. Ling Wee Seng, Mr. Jim Northey and Mr. Lim Heng Hai, and is chaired by Mr. Ling Wee Seng.
Mr. Ling Wee Seng and Mr. Jim Northey satisfy the independence requirements of the NYSE American Company Guide.
The compensation committee assists the board of directors in reviewing and approving the compensation structure for our directors and executive officers. Its responsibilities include, among other things:
| ● | reviewing and approving corporate goals and objectives relevant to the compensation of our executive officers; | |
| ● | evaluating the performance of our executive officers in light of those goals and objectives; | |
| ● | determining and approving the compensation of our executive officers; | |
| ● | reviewing and recommending to the board of directors the compensation of our directors; and | |
| ● | administering our share incentive plans and other equity-based compensation arrangements. |
Nominations Committee
Our nominations committee consists of Mr. Jim Northey, Mr. In Weiyee and Mr. Lim Heng Hai, and is chaired by Mr. Jim Northey.
Mr. Jim Northey and Mr. In Weiyee satisfy the independence requirements of the NYSE American Company Guide.
The nominations committee assists the board of directors in identifying individuals qualified to become members of the board and recommending nominees for election or re-election. Its responsibilities include, among other things:
| ● | identifying and recommending qualified candidates to serve as directors; | |
| ● | evaluating the performance of the board of directors and its committees; | |
| ● | developing and recommending corporate governance guidelines; and | |
| ● | overseeing the evaluation of the board of directors and management. |
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Duties of Directors
Under Cayman Islands law, our directors owe fiduciary duties to our company, including a duty of loyalty, a duty to act honestly, and a duty to act in what they consider in good faith to be in our best interests. Our directors must also exercise their powers only for a proper purpose. Our directors also owe to our 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 of his knowledge and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in the Cayman Islands. In fulfilling their duty of care to us, our directors must ensure compliance with our memorandum and articles of association, as amended and restated from time to time. Our company has the right to seek damages if a duty owed by our directors is breached. In limited exceptional circumstances, a shareholder may have the right to seek damages in our name if a duty owed by our directors is breached.
The functions and powers of our board of directors include, among others:
| ● | convening shareholders’ annual general meetings and reporting its work to shareholders at such meetings; | |
| ● | declaring dividends and distributions; | |
| ● | appointing officers and determining the term of office of officers; | |
| ● | exercising the borrowing powers of our company and mortgaging the property of our company; and | |
| ● | approving the transfer of shares of our company, including the registering of such shares in our share register. |
Terms of Directors and Executive Officers
Each of our directors holds office until the expiration of his or her term, as may be provided in a written agreement with our Company, or until his or her resignation or until his or her office is otherwise vacated in accordance with our articles of association. All of our executive officers are appointed by and serve at the discretion of our board of directors. Our directors may be appointed or removed from office by an ordinary resolution of shareholders. A director will be removed from office automatically if, among other things, the director (i) resigns; (ii) dies; (iii) is declared to be of unsound mind and the board of directors resolves that his office be vacated; (iv) becomes bankrupt or has a receiving order made against him or suspends payment or compounds with his creditors generally; (v) is prohibited from being or ceases to be a director by operation of law; (vi) without special leave, is absent from meetings for three consecutive meetings, and the board of directors resolves that his office is vacated; (vii) has been required by the Designated Stock Exchange (as defined in the amended and restated memorandum and articles of association); or (viii) is removed from office by the requisite majority of the directors or otherwise pursuant to our amended and restated memorandum and articles of association then in effect. The remuneration of our directors may be determined by the board of directors or by ordinary resolution. There is no mandatory retirement age for directors.
Board Diversity
| Board Diversity Matrix (As of the date of this annual report) | ||
| Country of Principal Executive Office | Singapore | |
| Foreign Private Issuer | Yes | |
| Disclosure Prohibited Under Home Country Law | No | |
| Total Number of Directors | 6 | |
| Female | Male | Non-Binary | Did Not Disclose Gender | |||||||||||||
| Part I: Gender Identity | ||||||||||||||||
| Directors | 0 | 6 | 0 | 0 | ||||||||||||
| Part II: Demographic Background | ||||||||||||||||
| Underrepresented Individual in Home Country Jurisdiction | 0 | |||||||||||||||
| LGBTQ+ | 0 | |||||||||||||||
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ITEM 19. EXHIBITS
EXHIBIT INDEX
EXHIBIT NUMBER |
DESCRIPTION | |
| 12.1* | Certification of our Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
| 12.2* | Certification of our Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
| * | Filed herewith |
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SIGNATURES
The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.
| TechCreate Group Ltd. | ||
| By: | /s/ Lim Heng Hai | |
| Name: | Lim Heng Hai | |
| Title: | Chairman and Chief Executive Officer | |
Date: May 5, 2026
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