DATAPULSE TECHNOLOGY LIMITED ANNUAL

Letter to Shareholders

CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of the Board of Directors (the “Board”) of uncertainties resulting from the ongoing geopolitical Datapulse Technology Limited (the “Company”, together tension between United States of America and China with its subsidiaries, collectively the “Group”), I am as well as the conflict between Russia and Ukraine and pleased to present to you the Annual Report for the most recently, the war between Hamas-led Palestinian financial year ended 31 July 2023 (“FY2023”). militant groups and Israeli military forces. The Company announced the entry of the Company For FY2023, the Group reported increased revenue of onto the SGX Watchlist with effect from 6 June 2023. $4.47 million compared to $1.92 million in the previous The past few years have been especially difficult as year. We remain in a healthy financial position with our key investments are (i) our wholly owned hotel minimal bank borrowings and net cash of $11.88 million asset, Travelodge Myeongdong City-Hall (“TLMC”) in as at the end of FY2023. Seoul, South Korea, (ii) our other hotel investment in Seoul, Travelodge Myeongdong Euljiro (“TLME”), in DIVIDEND which we hold 15% as well as (iii) a 5% stake in our Given the Group’s current loss position for FY2023, the hotel investment in Singapore, Travelodge Harbourfront Group continues to be mindful of the need to conserve Singapore (“TLHS”). These assets being hospitality cash to fund its operations as well as take advantage assets meant that our losses were primarily due to of any opportunity that may arise. The Board is not tourism, one of the sectors which suffered a direct hit recommending the payment of a dividend for FY2023. from the COVID-19 pandemic. APPRECIATION Nonetheless, we are committed to protecting I would like to extend a warm welcome to our shareholder value as I myself am the single largest Independent Directors, Ms Yap Ming Choo, Mr Hor Siew shareholder with the most at stake. Fu and Mr Perry Yuen Board joined the board during the past year. Mr Yee Chia Hsing who was previously BUSINESS OUTLOOK Executive Director has been re-designated as our Chief The hospitality industry in South Korea is expected Executive Officer. to recover further from the COVID-19 pandemic with the return of Chinese tourists (the most significant On behalf of the Board of Directors, I would also source of tourists to South