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PROPERTY, PLANT AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET

6. PROPERTY, PLANT AND EQUIPMENT, NET

 

Property, plant and equipment, net, consists of the following:

 

   SGD’000   SGD’000   USD’000 
   December 31, 
   2022   2023   2023 
   SGD’000   SGD’000   USD’000 
Leasehold buildings   7,523    7,523    5,702 
Right-of-use assets   2,603    2,592    1,965 
Plant and machinery   5,707    4,535    3,438 
Furniture and fittings   3,147    2,724    2,065 
Subtotal   18,980    17,374    13,170 
Less: accumulated depreciation   (10,162)   (8,859)   (6,716)
Property, plant and equipment, net   8,818    8,515    6,454 

 

Depreciation expense was approximately SGD672 thousand and SGD702 thousand (US$532 thousand) for the years ended December 31, 2022 and 2023 respectively.

 

Leasehold buildings are pledged with a bank to secure bank loans (Note 9).