TREASURE GLOBAL Business Summary

Treasure Global Inc. (TGL) operates as a Southeast Asia-anchored technology solutions provider, primarily generating revenue through its ZCITY Super App, an online-to-offline (O2O) e-commerce platform. The company’s monetization model is driven by transaction fees from e-voucher (gift card) sales, payment processing commissions, and affiliate cashback programs. As of early 2026, TGL has aggressively diversified into fintech and digital assets, targeting a $3 million revenue milestone through its institutional-grade OXI Wallet, real-world asset (RWA) tokenization via the UNIRWA partnership, and the acquisition of Quarters Elite for wealth management distribution. Its primary business segments include e-commerce and loyalty rewards (ZCITY), digital F&B management (TAZTE), and emerging fintech services. TGL competes directly with regional giants like Grab and Fave, as well as specialized firms such as Katapult and Primech, positioning itself as a niche, high-growth aggregator of digital lifestyle and blockchain-integrated financial services in the Malaysian market. The company is led by Chief Executive Officer Carlson Thow, who joined in June 2024 with a background in legal affairs and corporate strategy from VCI Global Limited. The executive team was further strengthened in late 2025 with the promotion of Pusparajan a/l Vadiveloo to Chief Financial Officer and the appointment of Henry Chai as Chief Operating Officer, the latter bringing extensive expertise in blockchain technology and software development for major global exchanges. Notably, the company’s original founder and former CEO, Chong Chan "Sam" Teo, rejoined the leadership team in October 2025 as Executive Director and Head of Operations to steer the company’s strategic pivot. The board also includes Executive Directors Michael Chan and Chan Meng Chun, both former CFOs with deep institutional knowledge. Recent capital initiatives have been supported by institutional investors such as Alumni Capital, providing the liquidity necessary to scale the company’s digital asset ecosystem.