Treasure Global Inc filed a Form 8-K on October 23, 2026, disclosing that its wholly owned Malaysian subsidiary, Tadaa Technologies Sdn Bhd, entered into a Software Development Agreement on October 21, 2026, with Techcom Vintage Sdn Bhd for the development of a government fertilizer subsidy traceability and AI agriculture intelligence platform at a fixed cost of RM8,000,000.

Key Highlights

  • Agreement date: October 21, 2026, between Tadaa Technologies Sdn Bhd and Techcom Vintage Sdn Bhd, a Malaysian company.
  • Fixed fee: RM8,000,000, inclusive of all developer costs and Malaysian sales and service tax, payable in six milestone tranches.
  • First milestone payment: RM4,000,000 (50%), payable within two business days after signing.
  • Delivery timeline: Five phases, with Phase 1 due within one month of October 21, 2026, Phases 2 through 4 within three months, and final integration within ten months of the effective date.
  • Intellectual property: All rights in software, deliverables, and source code vest exclusively in Tadaa, with a perpetual, irrevocable, worldwide, royalty-free, transferable license granted over any pre-existing developer intellectual property incorporated into the platform.
  • Liquidated damages: 2% of the delayed phase value per week or part thereof, capped at 10% of that phase's value, if the developer fails to complete a phase by the applicable completion date.
  • No affiliate relationship: According to the filing, the developer is not an affiliate of the company and there is no material relationship between the company or any of its affiliates and the developer other than in respect of the agreement.

Tadaa Technologies Contracts Techcom Vintage for Five-Phase Government Fertilizer Platform

According to the Form 8-K filed by Treasure Global Inc (NASDAQ:TGL), Tadaa Technologies Sdn Bhd, a wholly owned Malaysian subsidiary of the company, executed a Software Development Agreement with Techcom Vintage Sdn Bhd on October 21, 2026. The agreement covers the design, development, integration, testing, deployment, and delivery of a platform the filing describes as the "Government Smart Fertilizer Traceability and AI Agriculture Intelligence Programme." Tadaa intends to operate the platform in support of subsidy programs administered by participating government ministries, departments, agencies, and statutory bodies.

The filing specifies that the platform will be delivered across five phases. Phase 1, covering strategic planning, architecture, and an RFID proof of concept, is to be completed within one month of the October 21, 2026 effective date. Phases 2 through 4, covering core inventory and farmer platforms, logistics and GPS distribution, and AI agriculture intelligence respectively, are each to be completed within three months of the effective date. A final integration and handover phase is due within ten months. The developer is responsible for supplying all hardware, including RFID tags, readers, GPS, and telematics devices, and must provide 90 days of post-delivery support and warranty services following acceptance of each phase and following final acceptance.

The total fixed fee is RM8,000,000, with the mobilization payment of RM4,000,000 due within two business days after signing. Remaining milestone payments are RM1,200,000 upon Phase 1 acceptance, RM1,200,000 upon Phase 2 acceptance, RM800,000 upon Phase 3 acceptance, RM600,000 upon Phase 4 acceptance, and RM200,000 upon final acceptance. The filing notes that if a phase fails acceptance testing on three occasions, Tadaa may permit further rectification, accept the phase at a reduced value, or terminate the agreement. The agreement is governed by Malaysian law, and the parties submit to the exclusive jurisdiction of the courts of Malaysia.

What Was Disclosed

Treasure Global Inc disclosed, via an 8-K filed October 23, 2026, that its subsidiary Tadaa Technologies entered a RM8,000,000 software development agreement dated October 21, 2026, with Techcom Vintage Sdn Bhd for a five-phase government fertilizer traceability and AI agriculture platform, with all intellectual property rights vesting in Tadaa.