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Item 1. Business

2023-12-26 compared with 2021-08-27 · 341 added, 336 removed, 88 unchanged (88% of the section changed)

Ventures Corp., a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on April 2, 2018.

Ventures Corp., the US Company, operates through its wholly owned subsidiary, SEATech Ventures (HK) Limited, a Hong Kong Company.

Primary business activities are and are intended to be continued to be fulfilled primarily by SEATech Ventures (HK) Limited.

Ventures Corp.

is a company engaged in providing business mentoring, nurturing and incubation services relating to client businesses

and corporate development advisory services to entrepreneurs in the broader technology industry, but with a specific focus on

the information and communication technology industry.

The Company focuses on providing services in Asia, and has intentions to

build a community through which clients can benefit and grow their respective companies.

We share the same business plan with

that of our subsidiaries.

May 2, 2018, the Company acquired 100% interest in SEATech Ventures Corp., a private limited liability company incorporated in Labuan,

December 21, 2018, SEATech Ventures Corp., the Malaysia Company acquired 100% interest in SEATech Ventures (HK) Limited, a private limited

company incorporated in Hong Kong.

October 04, 2021, SEATech Ventures (HK) Limited subscribed 60% of the equity interests in SEATech Bigorange CVC Sdn.

Bhd., a private

limited company incorporated in Malaysia.

The Malaysia Company changed its company name to SEATech CVC Sdn.

on February 22, 2022.

On February 25, 2022, SEATech Ventures (HK) Limited further acquired 40% of the equity interests in SEATech CVC Sdn.

Bhd., which in turn

owns 100% of the equity interests in the Malaysia company.

January 03, 2022, SEATech Ventures (HK) Limited acquired 1 share, representing 100% equity interest of SEATech Ventures Sdn.

Malaysia company, from the Chief Executive Officer, President, Secretary, Treasurer, Director, Mr.

Chin Chee Seong, with consideration

Company, through its subsidiaries, mainly provides incubation and corporate development services to the clients.

Details of the

Company’s subsidiaries:

Place and date

of incorporation

Particulars of issued capital

Principal activities

Proportional of ownership interest and voting power held

Details of the Company’s

subsidiaries:

incorporation

of issued capital

of ownership interest and voting power held

SEATech Ventures Corp.

Labuan / March 12, 2018

100 share of ordinary share of US$1 each

100 ordinary shares of US$1

Investment holding

SEATech Ventures (HK) Limited

January 30, 2018

1 ordinary share

Business mentoring, nurturing and incubation, and corporate development advisory services

Ventures Corp.

is a company providing business mentoring services, nurturing and incubation services relating to client businesses

and corporate development advisory services to entrepreneurs in the broader technology industry, but with a specific focus on

the information and communication technology industry.

Hong Kong / January 30, 2018

1 ordinary share of HK$1

Business mentoring, nurturing and incubation,

and corporate development advisory services

SEATech CVC Sdn.

SEATech Bigorange

Malaysia / October 04, 2021

20,000 ordinary shares of MYR1 each

Dormant company

SEATech Ventures Sdn.

Malaysia / May 27, 2021

1 ordinary share of MYR1 each

Provision of corporate advisory services

Group principal activity is to provide business mentoring services, nurturing and incubation services relating to client businesses and

corporate development advisory services to entrepreneurs in the broader technology industry, but with a specific focus on the information

and communication technology industry.

We will primarily focus our efforts on nurturing ICT entrepreneurs in Asia.

Our advisory services will center on our “ICT Start-Up Mentorship Program”, which is designed to assist tech-based

entrepreneurs in solving ICT industry pain points caused by technical insufficiencies, inappropriate financial modelling and weak

strategic positioning within a competitive environment.

The program aims to improve the technical exposure of our clients and

to improve their sustainability in the ICT industry community through a combination of mentorship programs.

Currently, our clients

are mainly Malaysia based ICT companies, with others based in Indonesia and Thailand.

Our advisory services

mainly will center on our “ICT Start-Up Mentorship Program”, which is designed to assist tech-based entrepreneurs in solving

ICT industry pain points caused by technical insufficiencies, inappropriate financial modelling and weak strategic positioning within

a competitive environment.

The program aims to improve the technical exposure of our clients and to improve their sustainability in the

ICT industry community through a combination of mentorship programs.

Currently, our clients are mainly Malaysia based ICT companies with

future prospects in other ASIAN countries.

as part of our expansion plan, on September 20, 2022 Greenpro Capital Corp.

GRNQ) appointed SEATech Ventures (HK) Limited as

a listing sponsor to engage potential token issuers to list on Green-X, the World’s first Shariah-Compliant ESG (environment, social

and governance) Digital Asset Exchange (“DAX”) in Labuan, Malaysia.

According to global consulting firm BCG, the asset tokenization

market will grow 50 times from US$310 billion in this year, to US$16.1 trillion by 2030, driven by demand from a wide range of investors

for greater access to private markets (Source:

World Economic Forum – Global Agenda Council, BCG Analysis).

As a DAX listing

sponsor, SEATech Ventures (HK) Limited focus on digital/physical asset-backed companies in the STO (security token offering) listing

Industry in Asia

has become a hotbed for adoption of some new technologies in recent years, especially in the field of Internet of things (IoT)

and robotics.

has become a hotbed for adoption of some new technologies in recent years, especially in the field of Internet of things (IoT) and robotics.

This is partly driven by manufacturing firms, most notably in China, which are rapidly deploying these solutions.

It also reflects commitments from Asian governments and business leaders to leverage new technologies as a solution to the region’s

economic and demographic challenges, such as robotics as a response to curb labor shortages in Japan.

Smart city investments in

the region are also eye-catching, with the high penetration rate of mobile devices allowing some countries to ‘leapfrog’

legacy technologies.

The challenge will be to increase broader adoption of software solutions which have the potential to deliver

a more transformative economic impact 1 .

by the rapid growth of IoT in recent years, coupled with the investments in the manufacturing and transportation industries, new

technologies are already approaching $1 trillion in annual revenue.

Over the next few years, other new categories such as robots/drones

and AR/VR headsets in addition to related software and services will see similar growth.

This increasing proportion of spending

targeted at new categories will drive the overall industry to a new growth surge over the next decade as businesses move beyond

prototyping into broader deployments of technologies such as augmented reality viewers and AI-enabled robots.

It also reflects commitments

from Asian governments and business leaders to leverage new technologies as a solution to the region’s economic and demographic

challenges, such as robotics as a response to curb labor shortages in Japan.

Smart city investments in the region are also eye-catching,

with the high penetration rate of mobile devices allowing some countries to ‘leapfrog’ legacy technologies.

The challenge

will be to increase broader adoption of software solutions which have the potential to deliver a more transformative economic impact 1 .

by the rapid growth of IoT in recent years, coupled with the investments in the manufacturing and transportation industries, new technologies

are already approaching $1 trillion in annual revenue.

Over the next few years, other new categories such as robots/drones and AR/VR

headsets in addition to related software and services will see similar growth.

This increasing proportion of spending targeted at new

categories will drive the overall industry to a new growth surge over the next decade as businesses move beyond prototyping into broader

deployments of technologies such as augmented reality viewers and AI-enabled robots.

Corporate USA:

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Kong’s role as a leading business center in the Asia region can be evidenced by its advanced telecommunications infrastructure.

According to Global Information Technology Report 2016 by the World Economic Forum, Hong Kong is in the third rank in Asia (12th

in the world) in the Networked Readiness Index, indicating Hong Kong’s advanced position in telecommunications infrastructure,

regulatory environment, and business readiness of using information technology.

2 The ICT sector of Hong Kong is among

the most advanced in the world.

According to the annual global ICT Development Index published by ITU in November 2017, Hong Kong

ranked second in Asia after Korea, and sixth in the world.

industry of information and communications in Hong Kong had generated HK$84.1 billion (US$10.7 billion) of value added during

2016, contributing to 3.5% of GDP.

In term of industry data, Hong Kong had household broadband penetration rate at 92.6% (as at

February 2018).

4 The Hong Kong Internet connection speeds are among the highest in the world, according to the Office

of the Communication Authority.

In Hong Kong, IT products and services suppliers were the largest category of IT users, accounting

for 34.2% of total IT employment, followed by the wholesale, retail, import/export, restaurants and hotels sector (28.8%), the

financing, insurance, real estate and business services sector (17.9%), and the community, social and personal services sector

According to Global Information Technology Report 2016 by the World Economic Forum, Hong Kong is in the third rank in Asia (12th in the

world) in the Networked Readiness Index, indicating Hong Kong’s advanced position in telecommunications infrastructure, regulatory

environment, and business readiness of using information technology.

2 The ICT sector of Hong Kong is among the most advanced

in the world.

According to the annual global ICT Development Index published by ITU in November 2017, Hong Kong ranked second in Asia

after Korea, and sixth in the world.

industry of information and communications in Hong Kong had generated HK$84.1 billion (US$10.7 billion) of value added during 2016, contributing

to 3.5% of GDP.

In term of industry data, Hong Kong had household broadband penetration rate at 92.6% (as at February 2018).

Hong Kong Internet connection speeds are among the highest in the world, according to the Office of the Communication Authority.

Kong, IT products and services suppliers were the largest category of IT users, accounting for 34.2% of total IT employment, followed

by the wholesale, retail, import/export, restaurants and hotels sector (28.8%), the financing, insurance, real estate and business services

sector (17.9%), and the community, social and personal services sector (11.4%).

Kong’s ICT spending is on track to grow 3.8% in 2018 to HK$144.42 billion, according to the latest projections from Gartner.

Total spending on technology and products in the market is projected to turnaround following a 9.2% decline in spending in 2017,

and grow a further 1.9% in 2019 to reach HK$147.19 billion.

Communications services will remain the largest category overall,

but total spending in this category is projected to decline slightly from 2017 to HK$49 billion.

Spending on devices by contrast

will increase significantly to HK$47.9 billion, taking it closer to becoming the top spending category in the Hong Kong market.

Spending on software will also increase by 9.2% to HK$13.15 billion, and the IT services segment will grow 3.5% to HK$28.4 billion.

Data center systems spending will by contrast stay mostly flat at HK$5.89 billion.

Kong government has put in place initiatives to foster the ICT industry development, which included funding support, provision

of infrastructure, international cooperation and manpower development.

One of the example will be The Smart City Blueprint, which

unveiled in December 2017, maps out development plans for the next five years to enhance Hong Kong sustainability by making use

of innovation and technology.

The Hong Kong government’s Innovation and Technology Fund (ITF) has provided an alternative

source of funding for the IT industry.

As of end-March 2018, the ITF had approved 7,359 funding applications on projects with

a total of HK$ 14 billion.

Last but not least, Hong Kong has a large pool of skilled ICT professionals, providing services to

clients spanning a wide range of businesses.

According to the 2016 Manpower Survey Report conducted by the VTC, 87,794 persons

were employed in principal jobs of the IT sector.

spending on technology and products in the market is projected to turnaround following a 9.2% decline in spending in 2017, and grow a

further 1.9% in 2019 to reach HK$147.19 billion.

Communications services will remain the largest category overall, but total spending

in this category is projected to decline slightly from 2017 to HK$49 billion.

Spending on devices by contrast will increase significantly

to HK$47.9 billion, taking it closer to becoming the top spending category in the Hong Kong market.

Spending on software will also increase

by 9.2% to HK$13.15 billion, and the IT services segment will grow 3.5% to HK$28.4 billion.

Data center systems spending will by contrast

stay mostly flat at HK$5.89 billion.

Kong government has put in place initiatives to foster the ICT industry development, which included funding support, provision of infrastructure,

international cooperation and manpower development.

One of the examples will be The Smart City Blueprint, which unveiled in December 2017,

maps out development plans for the next five years to enhance Hong Kong sustainability by making use of innovation and technology.

Hong Kong government’s Innovation and Technology Fund (ITF) has provided an alternative source of funding for the IT industry.

As of end-March 2018, the ITF had approved 7,359 funding applications on projects with a total of HK$ 14 billion.

Last but not least,

Hong Kong has a large pool of skilled ICT professionals, providing services to clients spanning a wide range of businesses.

to the 2016 Manpower Survey Report conducted by the VTC, 87,794 persons were employed in principal jobs of the IT sector.

Kong Trade Development Council:

3 unchanged sentences

Hong Kong Trade Development Council;

see the section titled “Information and Communications Technology Industry in Hong

Kong”, point 2

see the section titled “Information and Communications Technology Industry in Hong Kong”,

Hong Kong Trade Development Council;

see the section titled “Information and Communications Technology Industry in Hong

Kong”, point 3

see the section titled “Information and Communications Technology Industry in Hong Kong”,

Hong Kong Trade Development Council;

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economy in Southeast Asia region is expected to grow at a yearly average of 5.2% from 2018 to 2022 7 , with studies projecting

the Association of Southeast Asia Nations (ASEAN) to become the fourth largest single market in the world by 2030 8

- putting it behind only the US, China and the European Union.

The region’s steady growth is fueled by an increasingly well-educated

workforce, a wealth of natural resources, rapid urbanization and growing infrastructure spending.

In addition, ASEAN is in a strategic

location in the confluence of major trade routes, with US$5.3 trillion of global trade passing through each year 9 .

Our company sees that the opportunity of ASEAN’s strong and vibrant economy, favorable demographics, ICT investments, and

ongoing economic integration have laid the foundation for rapid growth in the digital economy.

six largest economies in ASEAN (Indonesia, Thailand, Malaysia, Singapore, Philippines, and Vietnam) contribute 99% of the total

the Association of Southeast Asia Nations (ASEAN) to become the fourth largest single market in the world by 2030 8 - putting

it behind only the US, China and the European Union.

The region’s steady growth is fueled by an increasingly well-educated workforce,

a wealth of natural resources, rapid urbanization and growing infrastructure spending.

In addition, ASEAN is in a strategic location

in the confluence of major trade routes, with US$5.3 trillion of global trade passing through each year 9 .

Our company sees

that the opportunity of ASEAN’s strong and vibrant economy, favorable demographics, ICT investments, and ongoing economic integration

have laid the foundation for rapid growth in the digital economy.

six largest economies in ASEAN (Indonesia, Thailand, Malaysia, Singapore, Philippines, and Vietnam) contribute 99% of the total ASEAN

Many of the fundamentals are already in place:

Robust economy generating GDP of $2.5 trillion and growing

at 6 percent per year

Literate population of more than 600 million people,

with 40 percent under 30 years of age

Well-developed information and communications technology

(ICT) cluster with a track record of innovation and investment in new technology

economy generating GDP of $2.5 trillion and growing at 6 percent per year

population of more than 600 million people, with 40 percent under 30 years of age

Well-developed

information and communications technology (ICT) cluster with a track record of innovation and investment in new technology

“Economic Outlook for Southeast Asia, China and India 2018:

Fostering Growth through Digitalisation”,

Fostering Growth through Digitalisation”, OECD, 2018

“Winning hearts, minds in ASEAN”, The Straits Times, 25 August 2017

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Industry in Malaysia

where our company is based in, is the fourth largest economy in Southeast Asia and is known for its high labor productivity and

diversified economy.

Over the years, the country has transformed itself from being a primary commodities exporter into a leading

exporter of electrical appliances, electronic parts, and components.

Moving up the industrial value chain, it has also established

itself as an attractive regional ICT hub for services, information and technology, and e-commerce.

where our company is based in, is the fourth largest economy in Southeast Asia and is known for its high labor productivity and diversified

Over the years, the country has transformed itself from being a primary commodities exporter into a leading exporter of electrical

appliances, electronic parts, and components.

Moving up the industrial value chain, it has also established itself as an attractive regional

ICT hub for services, information and technology, and e-commerce.

ICT industry has contributed recorded 18.3% to the national economy in 2017 as compared to 16.5% in 2010.

This industry showed

an increasing average annual growth rate of 9.0% over a seven year period.

The contribution of ICT comprised 13.2% while the rest

is contributed by e-commerce in non ICT industries.

The contribution of the ICT industry to Gross Domestic Product (GDP) recorded

a growth of 8.4% with a value of US$45 billion.

This industry showed an increasing

average annual growth rate of 9.0% over a seven-year period.

The contribution of ICT comprised 13.2% while the rest is contributed by

e-commerce in non-ICT industries.

The contribution of the ICT industry to Gross Domestic Product (GDP) recorded a growth of 8.4% with

a value of US$45 billion.

This information can be found at https://www.dosm.gov.my/v1/index.php.

March 2017, Malaysia launched the world’s first Digital Free Trade Zone (DFTZ) 11 outside of China that aims to

capitalize the confluence and exponential growth of the internet economy and cross-border e-commerce activities.

The DFTZ is expected

to double the growth rate of small and medium enterprises’ goods exports to reach US$38 billion and facilitate US$65 billion

of goods movement via the DFTZ (exports, imports, transshipments) by 2025.

More than 2,000 small and medium enterprises stand

to get easier access to the global market, especially the Chinese market, through the DFTZ.

The DFTZ is also expected to generate

60,000 new jobs in the country by 2025.

its 2018 budget 12 , the government announced wide-ranging incentives to support businesses, including capital allowance

for ICT equipment and software, tax relief on services provided by the local authorities, and extended application period for

principal hub tax incentive among others.

The principal hub tax incentive aims to increase Malaysia’s competitiveness as

the global operations hub for multinational companies by offering tax exemptions to companies that set up their global operation

centers in Malaysia.

The budget also announced National Transformation 2050 vision that aims to improve the qualitative growth

factors of the economy such as labor force skills by preparing its citizens for future challenges such as the fourth industrial

revolution - artificial intelligence, robotics, digitalization, etc.

March 2017, Malaysia launched the world’s first Digital Free Trade Zone (DFTZ) 11 outside of China that aims to capitalize

the confluence and exponential growth of the internet economy and cross-border e-commerce activities.

The DFTZ is expected to double

the growth rate of small and medium enterprises’ goods exports to reach US$38 billion and facilitate US$65 billion of goods movement

via the DFTZ (exports, imports, transshipments) by 2025.

More than 2,000 small and medium enterprises stand to get easier access to the

global market, especially the Chinese market, through the DFTZ.

The DFTZ is also expected to generate 60,000 new jobs in the country

its 2018 budget 12 , the government announced wide-ranging incentives to support businesses, including capital allowance for

ICT equipment and software, tax relief on services provided by the local authorities, and extended application period for principal hub

tax incentive among others.

The principal hub tax incentive aims to increase Malaysia’s competitiveness as the global operations

hub for multinational companies by offering tax exemptions to companies that set up their global operation centers in Malaysia.

also announced National Transformation 2050 vision that aims to improve the qualitative growth factors of the economy such as labor force

skills by preparing its citizens for future challenges such as the fourth industrial revolution - artificial intelligence, robotics,

digitalization, etc.

https://www.mdec.my/news/malaysia-launches-worlds-first-digital-free-trade-zone

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Industry in Indonesia

in Indonesia, the country has the fastest growing mobile market in the Asia-Pacific region, while globally, it is the 4th largest

mobile market in the world.

The country has an extremely high penetration rate in mobile device at 112%, meaning 260 million of

the country’s population has access to a mobile device 13 .

This, combined with drivers like mass consumption of

products, urbanization, and a tech-hungry young population, has resulted in rapid development in the ICT industry in the country.

the country’s ICT industry has a primary focus on Software-as-a-Service (SaaS) and cloud computing, providing solution such

as data analytics, data center management, and managed services.

In July 2019, Softbank has announced a $2 billion investment

in Indonesia, aimed to upgrade the digital infrastructure of the country.

government of Indonesia has also introduced different initiatives and national programs, including Go Digital Vision 2020, e-smart

IKM and 100 Smart City Movement to drive the country’s economy towards the digital edge.

These programs aim to develop local

startups, support small to medium enterprises (SMEs) as well as to prepare and embrace internet of things (IoT).

Most notably,

the Making Indonesia 4.0 road map launched in April 2019 seeks to diversify the economy away from a reliance on natural resources

by developing higher-tech export industries.

The plan will focus on areas like 3D printing, artificial intelligence, human-machine

interface, robotics and sensor technology, all of which require advanced digital capacity.

As such, the government expects to

create between 7 million and 19 million new jobs between 2018 and 2030 to support the development of the industry.

The government

also expects a growth in the industrial sector’s gross domestic product contribution from 20 percent to 30 percent over

the same period.

in Indonesia, the country has the fastest growing mobile market in the Asia-Pacific region, while globally, it is the 4th largest mobile

market in the world.

The country has an extremely high penetration rate in mobile device at 112%, meaning 260 million of the country’s

population has access to a mobile device 13 .

This, combined with drivers like mass consumption of products, urbanization, and

a tech-hungry young population, has resulted in rapid development in the ICT industry in the country.

the country’s ICT industry has a primary focus on Software-as-a-Service (SaaS) and cloud computing, providing solution such as

data analytics, data center management, and managed services.

In July 2019, Softbank has announced a $2 billion investment in Indonesia,

aimed to upgrade the digital infrastructure of the country.

government of Indonesia has also introduced different initiatives and national programs, including Go Digital Vision 2020, e-smart IKM

and 100 Smart City Movement to drive the country’s economy towards the digital edge.

These programs aim to develop local startups,

support small to medium enterprises (SMEs) as well as to prepare and embrace internet of things (IoT).

Most notably, the Making Indonesia

4.0 road map launched in April 2019 seeks to diversify the economy away from a reliance on natural resources by developing higher-tech

export industries.

The plan will focus on areas like 3D printing, artificial intelligence, human-machine interface, robotics and sensor

technology, all of which require advanced digital capacity.

As such, the government expects to create between 7 million and 19 million

new jobs between 2018 and 2030 to support the development of the industry.

The government also expects a growth in the industrial sector’s

gross domestic product contribution from 20 percent to 30 percent over the same period.

has already achieved its goal to become largest digital economy in South East Asia by 2020, valued at US$40 billion.

the socio-demographic and fiscal factors, the market value of Indonesia’s digital economy is expected to reach $130 billion

Driven by the socio-demographic

and fiscal factors, the market value of Indonesia’s digital economy is expected to reach $130 billion by 2025.

https://www.s-ge.com/en/publication/industry-report/20182-ict-indonesia

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in Thailand, the industrial hub of South East Asia, the country is still in the starting/developing stage in its ICT industry.

The country’s ICT industry is dominated by the hardware market, including CCTV and smart Bluetooth, which account for 67%

of the industry value 15 .

The country’s

ICT industry is dominated by the hardware market, including CCTV and smart Bluetooth, which account for 67% of the industry value 15 .

Meanwhile, software and digital services account for the remaining.

As such, the potential

of the industry is still largely untapped and more advancement into digital spectrum can be expected.

As such, the potential of the industry is still largely untapped

and more advancement into digital spectrum can be expected.

government of Thailand is also stepping up its effort to encourage development of new start-ups with tech focus.

It has set up

the Board of Investment (BOI), a government agency to promote Foreign Direct Investment into the country by providing information,

services, and incentives.

Some of the incentives include permission for 100% foreign ownership, up to 15 years exemption in corporate

income tax, and permission to bring in experts and skilled workers and their families.

The initiative aims to encourage firms

like venture capitals and corporate incubators to enter the local market, provide mentorships and accelerator programs that will

help to get startup off the ground and contribute to the growth of technology 16 .

The BOI is also targeting to increase

funding of national research and development to at least 1% of Thailand’s GDP with the targeted ratio of public to private

R&D investment of 30:70, which private firms will enjoy higher benefits of this initiatives 17 .

forward, International Data Corporation (IDC) Thailand predicts that from 2019 to 2022, IT-related spending in the country will

reach US$72 billion.

60% of Thailand’s IT spending will also be on 3rd platform technologies with 30% of enterprises will

seek to build “digital-native” IT environments.

Also, by 2024, it is expected that AI-enabled user interfaces and

process automation will replace one-third of today’s screen-based apps in Thailand.

The IDC also expects 61% of the country

GDP, roughly U$317 billion (based on 2019 GDP level) will be digitalized by 2022 18 .

It has set up the Board

of Investment (BOI), a government agency to promote Foreign Direct Investment into the country by providing information, services, and

Some of the incentives include permission for 100% foreign ownership, up to 15 years exemption in corporate income tax, and

permission to bring in experts and skilled workers and their families.

The initiative aims to encourage firms like venture capitals and

corporate incubators to enter the local market, provide mentorships and accelerator programs that will help to get startup off the ground

and contribute to the growth of technology 16 .

The BOI is also targeting to increase funding of national research and development

to at least 1% of Thailand’s GDP with the targeted ratio of public to private R&D investment of 30:70, which private firms

will enjoy higher benefits of this initiatives 17 .

forward, International Data Corporation (IDC) Thailand predicts that from 2019 to 2022, IT-related spending in the country will reach

US$72 billion.

60% of Thailand’s IT spending will also be on 3rd platform technologies with 30% of enterprises will seek to build

“digital-native” IT environments.

Also, by 2024, it is expected that AI-enabled user interfaces and process automation will

replace one-third of today’s screen-based apps in Thailand.

The IDC also expects 61% of the country GDP, roughly U$317 billion

(based on 2019 GDP level) will be digitalized by 2022 18 .

https://www.nationthailand.com/Economy/30363105

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industry in Vietnam

has enjoyed its own economic miracle in recent years, showing the world how it turned the country from one of the poorest nation

in the world to become a middle-income nation.

The Southeast Asia country has grown its GDP for an average 6.8% 19 over

the past two decades to reach US$ 255 billion in 2019, rivalling China’s result during this period 20 .

with the economy, the country’s ICT industry has also experienced substantial growth of average 31.1% per year from 2014

The industry’s revenue reached US$110 billion in 2019, driven by government’s initiatives, rising middle

class, growing internet usage, and a young population 21 .

has enjoyed its own economic miracle in recent years, showing the world how it turned the country from one of the poorest nations in

the world to become a middle-income nation.

The Southeast Asia country has grown its GDP for an average 6.8% 19 over the past

two decades to reach US$ 255 billion in 2019, rivalling China’s result during this period 20 .

with the economy, the country’s ICT industry has also experienced substantial growth of average 31.1% per year from 2014 to 2019.

The industry’s revenue reached US$110 billion in 2019, driven by government’s initiatives, rising middle class, growing internet

usage, and a young population 21 .

to Thailand, the hardware segment dominates the Vietnam ICT industry, accounting for 86% of the industry revenue in 2017.

in recent years, the industry has seen tremendous potential in areas like software and services, evidenced from increased adoption

of software and service by the private and public sectors.

At the same time, the country has emerged as a destination of software

outsourcing, competing directly with India, China, and Philippines.

It is currently the eight largest provider of IT services

recent years, the industry has seen tremendous potential in areas like software and services, evidenced from increased adoption of software

and service by the private and public sectors.

At the same time, the country has emerged as a destination of software outsourcing, competing

directly with India, China, and Philippines.

It is currently the eight largest provider of IT services globally.

government incentives have been introduced to encourage further development in the ICT industry.

Amongst the incentives, government

has exempted 100% of corporate income tax for IT companies for up to four years, followed by 50% tax exemption for up to nine

Subsequently, the corporate income tax rate for IT Company will stay at 10%, compared to a 20% tax rate for traditional

The government has also implemented a zero percent value-added tax for computer programming activities.

the other side, new hi-tech parks will be constructed across the country from 2015 to 2030 though a combined effort by central

and local government, and private capital 22 .

The hi-tech parks will offer various benefits to investors to move into

the hi-tech parks.

For example, the Da Nang High-tech Park offers CIT incentives, import duty exemptions, as well as one-stop

administrative procedures for investors located in the park 23 .

Amongst the incentives, government has

exempted 100% of corporate income tax for IT companies for up to four years, followed by 50% tax exemption for up to nine years.

Subsequently,

the corporate income tax rate for IT Company will stay at 10%, compared to a 20% tax rate for traditional companies.

The government has

also implemented a zero percent value-added tax for computer programming activities.

the other side, new hi-tech parks will be constructed across the country from 2015 to 2030 though a combined effort by central and local

government, and private capital 22 .

The hi-tech parks will offer various benefits to investors to move into the hi-tech parks.

For example, the Da Nang High-tech Park offers CIT incentives, import duty exemptions, as well as one-stop administrative procedures

for investors located in the park 23 .

https://lkyspp.nus.edu.sg/gia/article/can-vietnam’s-tech-start-ups-prolong-the-economic-miracle

6 unchanged sentences

and foreign investment in recent years.

One of main reasons is the relatively low standard in the country’s telecoms sector,

as a result of lack of competition and limited investment.

order to overhaul the broadband capabilities, the Department of Information and Communications Technology (DICT) Philippines has

introduced the National Broadband Plan (NPL) in 2017, an US$ 4 billion initiative to deploy fiber optic cables and wireless technology

to further expand 3G, 4G, and LTE services throughout the country 25 .

Since then, steady progress in 4G availability

has been made and is set to make further progress.

One of main reasons is the relatively low standard in the country’s telecoms sector, as

a result of lack of competition and limited investment.

order to overhaul the broadband capabilities, the Department of Information and Communications Technology (DICT) Philippines has introduced

the National Broadband Plan (NPL) in 2017, an US$ 4 billion initiative to deploy fiber optic cables and wireless technology to further

expand 3G, 4G, and LTE services throughout the country 25 .

Since then, steady progress in 4G availability has been made and

is set to make further progress.

Business process outsourcing (BPO) is one of the country’s leading generators of income.

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billion revenue will be generated in the BPO service in the next six years25.

In the past year, the ICT sector has also

become top investment contributor for the country in 2019, attracting US$6 billion of foreign investment 26 .

forward, the focus of the country will remain in upgrading the network capabilities.

The development in passive telecommunication

infrastructure such as fibre optic cables, cable landing stations and submarine fibre optic is expected to contribute an annual

investment inflow of US$1.9 billion until 2022.

In the past year, the ICT sector has also become top investment

contributor for the country in 2019, attracting US$6 billion of foreign investment 26 .

Moving forward, the focus of the country

will remain in upgrading the network capabilities.

The development in passive telecommunication infrastructure such as fibre optic cables,

cable landing stations and submarine fibre optic is expected to contribute an annual investment inflow of US$1.9 billion until 2022.

https://oxfordbusinessgroup.com/overview/calling-all-competitors-network-expansion-efforts-accelerate-amid-growing-demand-data-and

2 unchanged sentences

Solutions and Services

is the belief of the Company that tech-based entrepreneurs are vital agents of positive and transformational change across every

aspect of our society and economy.

It is our intention to offer mentoring programs to our clients through which we hope to create

a sense of community, wherein our members will be able to grow their companies exponentially through leveraging skillsets and

potential capital provided by our organization.

We believe that through creating a sense of community we have the potential to

become one of the IT Corporate Venture Capital (CVC) Companies in the ASIA region.

Our mentors, for the time being and the foreseeable

future, will be comprised of the Company’s officers, both of whom have extensive experience in the information and computer

technology industry.

Additionally, our mentors believe that they possess, through their extensive corporate experience, the corporate

management skills, professional network, and industry knowledge necessary in order to guide tech-based entrepreneurs to success.

exact details of our mentoring program may be adjusted on a case by case basis, but will follow a certain basic structure.

primary focus will be on providing domain knowledge on delivering ICT-enriched learning experiences and best practices through

years of experience in the ICT and tech-based industry.

We intend to provide professional industry-based advice, conduct market

analysis, track metrics and corporate development advisory on Asia-wide ICT progress.

The Company intends to conduct feasibility

report based on industry average using comparison of common firm performance within the ICT industry.

feasibility report covers seven main areas to clearly identify pain points entrepreneurs may encounter within the ICT market:

believe that tech-based entrepreneurs are the vital agents of positive and transformational change across every aspect of our society

It is our intention to offer mentoring programs to our clients through which we hope to create a sense of community, wherein

our members will be able to grow their companies exponentially through leveraging skillsets and potential capital provided by our organization.

Through creating a sense of community, we have the potential to become one of the IT Corporate Venture Capital (CVC) Companies in the

Our mentors, for the time being and in the foreseeable future, will comprise of the Company’s officers, whom have

extensive experience in the information and computer technology industry.

Additionally, our mentors possess, extensive corporate experience,

corporate management skills, professional networking, and industry knowledge which are necessary to guide tech-based entrepreneurs to

the path of success.

exact details of our mentoring program will be adjusted on a case-by-case basis, but will follow a certain basic structure.

focus will be to provide domain knowledge in delivering ICT-enriched learning experiences and best practices through our years of experience

in the ICT and tech-based industry.

We intend to provide professional industry-based advice, conduct market analysis, track performance

metrics and corporate development advisory on ASIA-wide ICT aspects.

The Company intends to conduct feasibility report based on the industry

average using comparison of common firms’ performance within the ICT industry.

feasibility reports cover seven main areas to clearly identify the pain points that entrepreneurs may encounter within the ICT market:

Direction and Strategy

6 unchanged sentences

& Business Opportunities

strength and ability of Asia entrepreneurs are evolving and improving, hence our Company’s mission to assist these entrepreneurs

strength and ability of ASIA entrepreneurs are evolving and improving;

hence our Company’s mission is to assist these entrepreneurs

to grow globally.

SEATech targets emerging-growth entrepreneurs to assist them to sustain their economic positions in the Asia

Pacific region, as we believe the multilateral business relationship between the countries in these region has shown a trend of

increasing strength which we believe will continue on into the future.

We intend to identify emerging-growth entrepreneurs, at

least initially, through word of mouth, existing industry contacts of our officers and directors, and we may evaluate the possibility

of organizing programs or events in the future to provide a venture pitching platform for tech-based companies seeking venture

capital funding.

Any and all such plans regarding the organization of events remain in the growing stage, and we have taken no

significant steps to finalize any such plans at this time.

When we identify such entrepreneurs we intend to create linkages between

ecosystem players within the information and communications technology (ICT) industry and assist in solving critical issue for

the continued development of ICT sectors through methods which, at this point in time, remain under development.

is the Company’s belief that digital products and services are transforming industries, enriching lives, and propelling

We strongly believe that our team with years of experience in the ICT industry will be able to reinforce the importance

of digitization and incubate promising entrepreneurs in the ICT industry who can shape the country’s future.

With the experience

of our officers and directors in this industry, we believe that we are able to benefit our members by making recommendations pursuant

to the digital economy, conducting market analysis, and tracking digital progress metrics throughout Southeast Asia.

SEATech targets emerging-growth entrepreneurs and assist them to sustain their economic positions in the Asia-Pacific

region, as we believe the multilateral business relationship between the countries in these regions has shown a trend of increasing strength

which will continue in the future.

We intend to identify emerging-growth entrepreneurs, initially, through word of mouth and existing

industry contacts of our officers and directors, we may also evaluate the possibility of organizing programs or events in future and

to provide a venture pitching platform for tech-based companies seeking venture capital funding.

Plans regarding the organizing of events

is in the growth stage, and currently we have not taken measures to finalize such plans.

Once entrepreneurs are identified, we will create

linkages between the ecosystem players within the information and communications technology (ICT) industry and assist in solving critical

issue for the continued development of ICT sectors.

is the Company’s belief that digital products and services are transforming industries, enriching lives, and propelling progress.

We strongly believe that our team with years of experience in the ICT industry will be able to reinforce the importance of digitization

and incubate promising entrepreneurs in the ICT industry who can shape the country’s future.

With the experience of our officers

and directors in this industry, we believe that we are able to benefit our members by making recommendations pursuant to the digital

economy, conducting market analysis, and tracking digital progress metrics throughout Southeast Asia.

and Corporate Advisory Team

strong regional entrepreneurs is not our sole aim, we also aspire to build an ICT ecosystem in the region through the tool of

securitization that could assist our clients to compete on the world stage.

As such, we have entered into a memorandum of understanding

with the National ICT Association of Malaysia (PIKOM), and GreenPro Capital Corp (NASDAQ:

GRNQ) to enter into a partnership to

create greater value for the high-growth emerging companies in the ASIA region.

In collaboration with Greenpro, our corporate

development advisory services can be flexible arrangement, custom fitted for members and their needs.

We provide advisory services

to ascertain that our clients are well structured and have clearly delineated funding options available in the capital marketplace.

technological advancements, many small and medium-sized enterprises (SMEs) in Asia have largely remained low-tech and low-skilled.

We intend to match and enhance performance of ICT entrepreneurs based upon a spectrum of availability, innovation environment,

regulatory environment, and digital literacy.

It is our intention to create corporate programs through which our community clients

may have an opportunity to attend seminars, workshops, promotional events that showcase industry expertise during key cross-countries

strong regional entrepreneurs is not our sole aim, we also aspire to build an ICT ecosystem in the region through the tool of securitization

that could assist our clients to compete on the world stage.

As such, we have entered into a memorandum of understanding with the National

ICT Association of Malaysia (PIKOM), and GreenPro Capital Corp (NASDAQ:

GRNQ) to enter into a partnership to create greater value for

the high-growth emerging companies in the ASIA region.

In collaboration with Greenpro, our corporate development advisory services can

be flexible arrangement, custom fitted for members and their needs.

We provide advisory services to ascertain that our clients are well

structured and have clearly delineated funding options available in the capital marketplace.

the technological advancements, many small and medium-sized enterprises (SMEs) in ASIA are still low in both technology and skillsets.

With our Corporate Programs, we intend to match and enhance performance of ICT entrepreneurs based upon a spectrum of availability, innovation

environment, regulatory environment, and digital literacy.

It is our intention to create corporate programs through which our community

clients may have an opportunity to attend seminars, workshops, promotional events that showcase industry expertise during key cross-countries

Southeast Asia events.

All such plans remain in development and we have yet to determine a timeline when such programs will become

plan to explore tech-based marketplaces and attract IT startup entrepreneurs around ASIA countries through building our corporate

image and awareness through corporate seminars, website and pitching events.

Further, we had developed a corporate website which

will introduce our SEATech Corporate Ventures Program.

All such plans remain in development and we have yet to determine a timeline when such programs will become available.

plan to explore tech-based marketplaces and attract IT startup entrepreneurs around ASIA countries through building our corporate image

and awareness through corporate seminars, website and pitching events.

Further, we had developed a corporate website which will introduce

our SEATech Corporate Ventures Program.

this time, we intend for the SEATech Corporate Ventures Program to be comprised of the following:

Mentorship on Pitching - Participate in SEATech’s corporate accelerator programs which will mentor ICT entrepreneur’s

pitching skills and educate their mind-set of current business environment.

Corporate Event – Opportunity to attend seminars / workshops where they will be provided with professional ICT advisory

solutions by our experienced officer and director.

Roadshow and Fund Raising Advisory Opportunity to participate in event to provide entrepreneurs with knowledge of options available

within the capital market and to enhance their understanding of compliance requirements to respective capital market rules and

Matchmaking & Business Opportunities Potential collaborations for local entrepreneurs to meet some of the region’s most

innovative start-ups.

market our advisory services through this corporate website and intend to utilize search engine marketing to improve the number

visibility of our corporate website.

We cannot determine, at this point in time, when our website will be completed, but the current

state of our website can be viewed at:

http://www.seatech-ventures.com/.

Mentorship on Pitching - Participate in SEATech’s corporate accelerator programs which will mentor ICT entrepreneur’s pitching

skills and educate their mind-set of current business environment.

Corporate Event – Opportunity to attend seminars / workshops where they will be provided with professional ICT advisory solutions

by our experienced officer and director.

Roadshow and Fund-Raising Advisory Opportunity to participate in event to provide entrepreneurs with knowledge of options available within

the capital market and to enhance their understanding of compliance requirements to respective capital market rules and regulations.

Matchmaking & Business Opportunities Potential collaborations for local entrepreneurs to meet some of the region’s most innovative

market our advisory services through this corporate website and utilize search engine marketing to improve the visibility of our corporate

At this point in time, our website was in place and accessible at:

https://www.seatech-ventures.com/.

and Targeted Market

the course of the next year, we plan to recruit three to five engagement partners for every country in which we will operate.

The Company anticipates expanding into the Asia market, with a particular focus, at least initially, on expanding into Thailand,

Indonesia, Singapore, Philippines, Vietnam, Myanmar, Cambodia, Taiwan, China and Hong Kong.

The qualifications and capabilities

that we expect are individuals with strong and rich experiences in the ICT industry, able to provide analysis, advice and business

solutions for ICT organizations and companies that intend to develop, as well as carry out, performance assessment, strategic

planning and implementation of pre-set goals and plans.

we intend to hire additional staff to execute operations for our Malaysia market initially within a year of the public listing

of the Company.

We believe that hiring fifteen to twenty employees, which may include accountants, public relations and ICT business

consultants, will be sufficient in order to support our operations.

It will also be necessary for us to acquire office space from

which we can conduct operations and conduct meetings with potential clients.

We also plan to allocate funds to support our ICT

Incubator Program.

However, such development will require intensive research, development and testing so we cannot accurately

determine a concrete timeline at present nor have we determined an appropriate budget for these future activities.

evaluate potential acquisitions and venture opportunities in the future which we feel may have some synergy with our current operations

when the Company is successfully listed in the US capital market.

the next financial year from 2022 onwards, we plan to recruit three to five engagement partners in every country that we operate .

The Company anticipates expanding into the ASIA market initially to Thailand, Indonesia, Singapore, Philippines, Vietnam, Myanmar,

Cambodia, Taiwan, China and Hong Kong.

The qualifications and capabilities are individuals with vast experiences in the ICT industry,

able to provide in-depth analysis, corporate management advice and developing business solutions for ICT companies that intend to grow,

as well as to carry out performance assessment, strategic planning and implementation of pre-set goals and plans.

addition, we will hire additional staff in Malaysia within a year of the public listing of the Company.

We believe that hiring fifteen

to twenty employees, which may include accountants, public relations and ICT business consultants, will be sufficient in order to support

our operations.

It will also be necessary for us to acquire office space from which we can conduct operations and conduct meetings with

potential clients.

We also plan to allocate funds to support our ICT Incubator Program.

However, such development will require intensive

research, development and testing so we cannot accurately determine a concrete timeline at present nor have we determined an appropriate

budget for these future activities.

We may also evaluate potential acquisitions and venture opportunities in the future which we feel

may have some synergy with our current operations when the Company is successfully listed in the US capital market.

focuses on providing mentoring and advisory services to ICT companies in ASIA.

The venture capital industry in ASEAN or even the

Asia region has grown substantially over the years, as more start-ups, especially those with ICT focus, have emerged and will

require mentoring and incubation services in order to move the companies forward.

Therefore, the venture capital industry is becoming

ever more competitive.

SEATech intends to improve the visibility of our company and its advisory services in order to stand out

from our competition in this crowded market space.

The company will also seek to improve the competency in ICT as way to create

competitive advantage over our existing and/or potential competitors.

the year ended December 31, 2020, the Company has generated $250,600 revenue from customers through the provision of business

mentoring, nurturing and incubation services relating to client businesses and corporate development advisory services.

The venture capital industry in ASEAN or even the ASIAN

region has grown substantially over the years, as more start-ups, especially those with ICT focus, will require mentoring and incubation

services in order to move to the next level.

Henceforth, the venture capital industry is getting more competitive and SEATech intends

to improve its visibility and the provision of its advisory services in order to stand out from the competition.

The Company will seek

to improve its competency in ICT so as to create a competitive advantage over our existing and/or potential competitors.

the year ended December 31, 2022, the Company has generated $548,095 revenue from customers through the provision of business mentoring,

nurturing and incubation services relating to client businesses and corporate development advisory services.

of December 31, 2022, the Company has a total of 3 full-time employees at our headquarter office in Kuala Lumpur, Malaysia.

2 full-time employees are administrative staffs of the company.

sole director and Chief Executive Officer, Chin Chee Seong and Chief Investment Officer, Seah Kok Wah have the flexibility to

work on our business up to 30 hours per week, but are prepared to devote more time if necessary.

The 3 full-time

employees are administrative staffs of the Company.

director cum Chief Executive Officer, Chin Chee Seong, director, Seah Kok Wah and Chief Financial Officer, Tan Hock Chye have flexible

working hours, up to 30 hours per week, but are prepared to devote more time if necessary.

independent non-executive directors, Cheah Kok Hoong and Louis Ramesh Ruben also have flexibility working hours with no time limits,

but are prepared to devote more time if necessary.

do not presently have pension, health, annuity, insurance, stock options, profit sharing, or similar benefit plans;

may adopt plans in the future.

however, we may adopt

plans in the future.

There are presently no personal benefits available to our Officers, Directors or employees.

present, we are subject to the laws and regulations of the jurisdictions in which we operate, which may include business licensing

requirements, income taxes and payroll taxes.

In general, the development and operation of our business is not subject to special

regulatory and supervisory requirements.

are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide

the information under this item.

present, we are subject to the laws and regulations of the jurisdictions in which we operate, which may include business licensing requirements,

income taxes and payroll taxes.

In general, the development and operation of our business is not subject to special regulatory and supervisory

requirements.

are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information

under this item.

UNRESOLVED STAFF COMMENTS

are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide

the information under this item.

have a physical office in Bangsar South with address 11-05 & 11-06, Tower A, Ave 3 Vertical Business Suite, Jalan Kerinchi,

Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

Our office space is provided rent free by our Chief

Investment Officer Seah Kok Wah until June 2020.

are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information

under this item.

have a physical office in Bangsar South with address 11-05 & 11-06, Tower A, Ave 3 Vertical Business Suite, Jalan Kerinchi, Bangsar

South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia.

Our office space is provided rent free by our director Seah Kok

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K/A

Item 1. Business