SIMPPLE Ltd Provides Update on New
Leadership Initiatives and Progress
Singapore, August 5, 2024 – SIMPPLE Ltd
(Nasdaq: SPPL) (“SIMPPLE” or “the Company”), a leading
innovator in the facilities management technology sector, today
provided a corporate update on the initiatives and progress led by
recently appointed chief executive officer Norman Schroeder and
chief financial officer Sovik Bromha, who assumed their posts in
February and March 2024, respectively, as part of the company’s
strategic growth plan.
Mr. Schroeder, who had been serving SIMPPLE as
an independent director, left that post to become the company’s new
CEO and executive director on February 1, replacing Aloysius Chong,
who, after holding those positions for seven years, resigned them
to assume a product development and marketing role with SPPL’s
Australian subsidiary. Mr. Schroeder’s vacancy as independent
director was filled by Longjin Guo, a legal and compliance
expert.
Mr. Bromha was appointed CFO effective March 1,
replacing Chan Sok Fung, who resigned to seek alternative
opportunities.
Under Mr. Schroeder’s leadership, SIMPPLE has
embarked on a comprehensive strategy to implement various
organizational changes designed to accelerate the Company’s
business growth. This strategy, said the CEO, has to date produced
the following achievements:
- Establishment of operations and
joint venture partnerships in Australia, New Zealand, Malaysia,
Thailand, Hong Kong, and Qatar, with five leading managerial
appointments in Australia and New Zealand.
- Development and implementation of
AI- powered environmental, social and governance (ESG) auditing and
reporting capabilities into SIMPPLE’s platform, and signing of
joint venture agreement with an EU-based partner to further develop
and market this solution to defined EU standards.
- Signing of multiple service,
maintenance, software and robotic contracts for deployment at
various sites including a Singapore airport and train
station facilities.
- Implementation of rigorous
financial analysis and strategic cost management initiatives to
improve the company’s financial stability and performance.
- Recruitment of key professional
talent to augment the Company’s technology resources and market
presence.
- Engagement with major Company
shareholders, investors, customers, and employees to strengthen
SPPL’s foundation for future growth,
- Integration of critical AI-powered
facilities management software into SIMPPLE’s end-to-end
ecosystem.
- Development of an AI-powered system
upgrade that can be retrofitted to existing CCTV installations and
automates robotic response cleaning and security operations.
- Development and patenting of a
modular AI-powered security ‘head’ that can be retrofitted to
existing cleaning robots. Successful sale of 10 units of ‘2-in-1’
security and cleaning robots to various facilities in
Singapore.
- Re-signing of distribution
agreement with leading robotic manufacturer, Gausium.
- Signing of MOU with Kepler
Exploration Robotics to mutually develop AI-powered intelligence
for that company’s Humanoid Robot
- Partnering with two leading global
facilities management companies to provide end-to-end technology
solutions incorporating robotics, Internet of Things (IoT), and
software at multiple facilities.
- Partnering with a Texas-based
facilities management company to deliver an end-to-end technology
solution for deployment at its remote mining sites and camp
operations.
- Successful attainment of ISO 27001
Cyber Security Certification
- Deployment of first multifunctional
robot (security, cleaning, and concierge) as part of Singapore’s
Advanced Digital Grants Scheme.
"We are thrilled with the progress SIMPPLE has
made in the last six months,” said Chairman of the Board Kelvin
Lee. “By prioritizing operational efficiency, streamlining
workflows and implementing best practices across the organization,
we have significantly improved productivity and forged key
agreements that will make an accelerating contribution to our
revenue base starting in the second half of the current fiscal
year, as we continue to invest in our growth objectives.
"Our reinvigorated strategic vision, and renewed
technology resources and marketing proficiency have driven our
company forward into its next chapter of growth. We are confident
that, under the leadership of Norman Schroeder and Sovik Bromha,
SIMPPLE will continue to drive revenue growth while delivering
sustainable value to our shareholders and customers.
“We look forward to sharing more exciting
developments in the coming months.”
Mr. Schroeder added, "I’m honored to be leading
SIMPPLE and building upon the strong foundation laid by our former
CEO. As we continue to invest in our Company’s integrated
facilities management solutions and proprietary AI technology
platforms, I believe SIMPPLE is well prepared to further scale and
diversify its product and service offerings to meet the ever
increasing demands within the facilities management sectors
globally.”
Before joining SIMPPLE, Mr. Schroeder served as
strategic development manager at OCS, a global facilities services
business with 8,000 customers across the UK, Europe, APAC and
Middle East regions. For the six years prior, he held a number of
senior positions culminating in CEO at Trident Services Australia,
a provider of technology platform service solutions for government,
commercial premises, retail precincts, airports, major events, and
parklands. Mr. Schroeder has also held top management positions
with such companies as SECUREcorp, Spotless Group, Gate Gourmet,
and Cathay Pacific Airways.
Mr. Bromha, who has over 35 years experience in
the finance sector, most recently served as CFO of JobShine Pte
Ltd, a Singapore-based job portal, and COO of Jozef Pte Limited, a
financial consultancy. From 2013 to 2021, he was director of
finance at Red Hat India Pvt. Ltd., and for the two years prior
served as budget controller at Newtel Corporation, a subsidiary of
Spice Group of India in Bangkok. He has also held financial
positions at Ness Global Services Pte Ltd.. and from 1988 through
2006 held a series of ascending financial positions at NIIT
Limited. He holds an MBA in finance from Amity University,
India.
Longjin Guo has over 15 years of legal and
compliance experience and currently serves as head of legal and
external affairs at the Singapore headquarters of YSQ International
Pte Ltd, a global multinational company focused on technological
investment, financial services, merger & acquisition, asset
management, and intellectual property. He holds a Bachelor of
Laws from the National University of Singapore, a Master of
Business Administration from Singapore Management University and a
Master of Public Administration (Chinese) from Nanyang
Technological University.
About SIMPPLE LTD.
Headquartered in Singapore, SIMPPLE
LTD. is an advanced technology solution provider in the
integrated facilities management space, focused on helping
facilities owners and managers manage facilities autonomously.
Founded in 2016, the Company has a strong foothold in the Singapore
facilities management market, serving over 60 clients in both the
public and private sectors and extending out
of Singapore into Australia and the Middle
East. The Company has developed its proprietary SIMPPLE ecosystem
to create an automated workforce management tool for building
maintenance, surveillance and cleaning comprised of a mix of
software and hardware solutions such as robotics (both cleaning and
security) and Internet-of-Things (“IoT”) devices. For more
information, please visit the Company’s
website: www.investor.simpple.ai.
Forward-Looking
StatementsCertain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can find many (but not all) of these statements by
the use of words such as “may,” “will,” “expect,” “anticipate,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or
other similar expressions. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC.
For investor and media inquiries, please
contact:
SIMPPLE LTD.Investor Relations
DepartmentEmail: ir@simpple.ai
Skyline Corporate Communications Group,
LLCScott Powell, President1177 Avenue of the Americas, 5th
FloorNew York, NY 10036Tel: (646)
893-5835Email: info@skylineccg.com
SIMPPLE LTD.
Investor Relations Department
Email: ir@simpple.ai
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Tel: (646) 893-5835
Email: info@skylineccg.com
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