Treasure Global Inc: enters RM8,000,000 software development agreement

What happened

• Treasure Global Inc filed an 8-K reporting that Tadaa Technologies Sdn Bhd, a wholly owned subsidiary, entered into a Software Development Agreement with Techcom Vintage Sdn Bhd on Oct 21, 2026 to design, develop, integrate, test, deploy and deliver the Government Smart Fertilizer Traceability & AI Agriculture Intelligence Programme (the Platform).

Key details

• Total fixed fee of RM8,000,000, payable in six milestone cash payments: RM4,000,000 mobilization (50%) within two business days after signing; RM1,200,000 (15%) on acceptance of Phase 1; RM1,200,000 (15%) on acceptance of Phase 2; RM800,000 (10%) on acceptance of Phase 3; RM600,000 (7.5%) on acceptance of Phase 4; RM200,000 (2.5%) on final acceptance.
• Delivery in five phases: Phase 1 due within one month of Oct 21, 2026; Phases 2 through 4 each to be completed within three months of the Effective Date; final integration and handover within ten months of the Effective Date. Each phase is subject to acceptance testing.
• Developer to supply all required hardware and third-party components, provide 90 days of post-delivery support and warranty after each phase and final acceptance, and maintain source code in a repository owned and controlled by Tadaa.
• Intellectual property in software, deliverables and source code vests in Tadaa; Developer grants Tadaa a perpetual, irrevocable, worldwide, royalty-free, transferable license to any pre-existing Developer IP incorporated into the Platform. Liquidated damages for delay are 2% per week of the affected phase, capped at 10% of that phase’s value. Agreement governed by Malaysian law. Developer is not an affiliate.

Why it may matter

• Item reported: Item 1.01 — entry into a material definitive agreement. The filing covers the contractual terms under which Tadaa will procure and operate a centralized fertilizer subsidy traceability and AI agriculture intelligence platform for use with government subsidy programs. This filing does not show why the insider traded or why the company acted.