RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

12 Months Ended

Dec. 31, 2021

Right-of-use Rou Assets And Lease Payable

RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

7. RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

The right-of-use assets relate to leases of industrial lands in Singapore and certain plant and machinery and motor vehicles under a number of leases.

The Group recognized operating lease ROU assets and lease liabilities as follows:

	December 31, 2020		December 31, 2021
	SGD’000		SGD’000
Operating lease ROU asset		1,297		1,180

	December 31, 2020		December 31, 2021
	SGD’000		SGD’000
Operating lease liabilities
Current portion		110		158
Non-current portion		1,149		1,395
Total		1,259		1,553

As of December 31, 2021, future minimum lease payments under the non-cancelable operating leases are as follows:

Future payment	SGD’000
2022		205
2023		206
2024		201
2025		185
2026		84
Thereafter		672
		1,553

The following summarizes other supplemental information about the Company’s operating lease as of December 31, 2021:

Weighted average discount rate	4.67	%
Weighted average remaining lease term (years)	15