Bukit Jalil Global Acquisition 1 Ltd. is a Cayman Islands-registered SPAC focusing on identifying and evaluating potential acquisition targets to merge with and form a Nasdaq-listed company.

# Company Summary: Bukit Jalil Global Acquisition 1 Ltd.

## Overview
- **Type:** Blank check company (special purpose acquisition company - SPAC)
- **Incorporation:** Cayman Islands (September 15, 2022)
- **Purpose:** To effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more target businesses.
- **Industry Focus:** No specific industry or geographic limitations.
- **Operational Status:** No revenue; involved solely in identifying and evaluating potential acquisition targets.

## Business Activities
- **Initial Public Offering (IPO):** Completed on June 30, 2023.
  - Raised gross proceeds of approximately **$57.5 million** through issuance of 5,750,000 units (including over-allotment).
  - Each unit included:
    - 1 Ordinary Share ($0.0001 par value)
    - ½ Warrant (exercise price of $11.50)
    - 1 Right (to receive 1/10 of an Ordinary Share upon business completion)
  - Private placement of 424,307 units to Sponsor for approximately **$4.24 million** concurrently with IPO.
  
- **Target Search:** Focused on acquiring established or growth-stage businesses that can grow into cash-generating entities or are already cash-flow positive. No specific industries or geographic markets are restricted.

- **Management:** Led by CEO, Dr. Seck Chyn "Neil" Foo, with significant experience in corporate advisory, management, and investment sectors.
  - Other key members include independent directors with backgrounds in investment, healthcare, real estate, and education.

- **Current Status:** No revenue, losses incurred since inception.
  - As of December 31, 2024, had minimal cash ($15,265) and a working capital deficit of approximately $1.65 million.
  - Focused on the identification and evaluation of business combination candidates.
  
- **Proposed Business Combination:** 
  - Entered into an agreement with GIBO Holdings Limited and its subsidiaries.
  - intend to merge and form a new publicly traded entity (PubCo) listed on Nasdaq.
  - After the deal, both BUJA and GIBO will become subsidiaries of PubCo, and shareholders will receive Class A or Class B ordinary shares with different voting rights.

## Employees
- **Number of Employees:** One (CEO, Dr. Neil Foo)
- **Workforce Status:** No full-time employees anticipated before the business combination; management dedicates as much time as necessary for target evaluation and transaction processes.

## Financial Highlights (as of December 31, 2024)
- **Revenues:** None (no operational revenue yet)
- **Net Income:** Approximately **$1.2 million** for 2024, primarily from interest and dividend income on investments held in trust.
- **Expenses:** Incurred costs related to formation and operational activities (~$1.19 million in 2024).
- **Cash and Investments:** 
  - Limited cash on hand ($15,265).
  - Investments in trust account valued at approximately **$32.82 million** as of December 31, 2024.
- **Income Sources:** Interest and dividends from investments in the trust account.

## Key Financial Data
| Metric | 2024 | 2023 |
|---------|--------|--------|
| Net Income | ~$1.2 million | ~$1.06 million |
| Revenue (Interest & Dividends) | ~$2.39 million | ~$1.52 million |
| Operating Costs | ~$1.19 million | ~$467,000 |

## Summary
Bukit Jalil Global Acquisition 1 Ltd. is a Cayman Islands-registered SPAC with no revenue, focused on sourcing a suitable private company for merger or acquisition. The company's main activities post-IPO involve identifying targets, with the goal of creating a Nasdaq-listed entity following a successful business combination, primarily financed through the proceeds of the IPO and private placements.

A blank check exempted company incorporated in the Cayman Islands aiming to effect mergers and business combinations across various industries with no revenue to date.

# Company Overview

## Business Structure
- **Type**: Blank check exempted company incorporated in the Cayman Islands.
- **Incorporation Date**: September 15, 2022.
- **Liability**: Limited liability for public shareholders, meaning they are only liable for the amount paid for their shares.

## Business Objective
The company aims to serve as a vehicle to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more target businesses across various industries and geographical locations.

## Financial Information
- **Initial Public Offering (IPO)**: 
  - Date: June 30, 2023.
  - Units Issued: 5,750,000 units at an offering price of $10.00 per unit.
  - Gross Proceeds: $57,500,000 from the IPO.
- **Private Placement**:
  - Date: Concurrent with IPO.
  - Private Units Issued: 424,307 units sold at $10.00 per unit.
  - Gross Proceeds: $4,243,070.
- **Trust Account Balance**: Aggregate proceeds placed in a trust account totaled approximately $58,362,500.

## Current Operations
- The company has **no revenue** and has incurred losses since inception primarily due to formation and operating costs.
- The operations have been financed through the sale of securities and loans from the Sponsor and other parties.
- Currently, the company has **one employee** who serves as both the Chief Executive Officer and Chief Financial Officer.

## Target Acquisition Criteria
1. **Strong Management Team**: Focus on companies with experienced management capable of creating significant value.
2. **Niche Deal Size**: Target emerging growth companies that have the potential to generate cash.
3. **Long-term Revenue Visibility**: Seek targets that are at an inflection point for growth.
4. **Benefits from U.S. Public Company Status**: Analyze target companies for their potential to provide attractive equity returns and growth opportunities.

## Recent Developments
- Announced a **waiver of Administrative Service Fees** amounting to $120,000 as of October 14, 2023.
- Entered a **non-binding letter of intent** with Global IBO Group Ltd on January 9, 2024, related to a potential business combination.

## Summary
Overall, the company is focused on leveraging a broad network of relationships to identify and evaluate potential business combination targets, with a strategic focus on generating shareholder value through the acquisition and management of emerging growth companies. As of now, its primary business activity has been centered on finding a suitable target, and it has not yet generated any revenue while operating at a loss.

Bukit Jalil Global Acquisition 1 Ltd.

10-K / April 15, 2025

10-K / April 2, 2024

10-K / April 15, 2025

Company Summary: Bukit Jalil Global Acquisition 1 Ltd.

Overview

Business Activities

Employees

Financial Highlights (as of December 31, 2024)

Key Financial Data

Summary