Treasure Global Inc. Enters $2M Software Deal; Terminates RM11.7M Prior Contract

What Happened

• Treasure Global Inc. (TGL) filed an 8-K on August 18, 2026 disclosing two contract actions dated August 17, 2026: (1) a new Software Enhancement Agreement with Keen Success Technology Ltd to provide development and enhancement services for TGL’s Tazte Apps in Malaysia, and (2) a mutual termination of a prior Software Enhancement Agreement between TADAA Technologies Sdn. Bhd. (a TGL subsidiary) and Apexcode Innovations Sdn. Bhd.
• The new Keen Success Agreement has a total contract price of USD 2,000,000, payable at TGL’s discretion in cash, TGL ordinary shares, or a combination, according to milestone payments in the agreement. The terminated prior agreement (dated March 11, 2026) had a contract price of RM 11,700,000.

Key Details

• Agreement date: August 17, 2026 (Keen Success Agreement and Mutual Termination Agreement).
• New contract value: USD 2,000,000 for software development/enhancement of Tazte Apps (Keen Success Technology Ltd, Hong Kong).
• Terminated prior contract: RM 11,700,000 with Apexcode; Apexcode completed Phase 1 deliverables which were accepted.
• TADAA waived its right to a refund of the first milestone refundable deposit of RM 3,900,000; all IP in Phase 1 deliverables remains vested in TADAA and the parties exchanged mutual releases.

Why It Matters

• The new $2.0M contract secures development support for Tazte Apps but allows payment in cash or TGL shares, so investors should note potential cash outflow or equity dilution depending on how TGL elects to pay.
• Termination of the larger RM11.7M prior contract and the waiver of the RM3.9M refundable deposit changes the company’s previously disclosed obligations and resolves disputes tied to that prior agreement; IP from completed work remains with TADAA, reducing legal or operational uncertainty related to Phase 1 deliverables.