BANK LOANS

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

BANK LOANS

9. BANK LOANS

The bank loans as of December 31, 2022 and 2023 are set out below:

Bank loans	Currency	Period	Interest rate	Third Party guarantee	Directors’ Personal guarantee		Carrying amount
							SGD’000
Secured floating rate bank loans	SGD	2022 - 2028	SIBOR+1.25% to +1.5%	NIL				9,269
	US$	2029	London Inter Bank Offer Rate +1.25%	NIL				164
Balance as of December 31, 2022						3,430		9,433
Secured floating rate bank loans	SGD	2023 - 2028	SIBOR+1.25% to +1.5%	NIL				7,841
	US$	2029	London Inter Bank Offer Rate +1.25%	NIL				140
Balance as of December 31, 2023						3,430		7,981
Balance as of December 31, 2023 (US$)						2,600		6,050

Other than directors’ personal guarantee, the bank loans are secured by corporate guarantee provided the Company, financial instrument (Note 5), leasehold buildings (Note 6) and operating lease ROU asset (Note 7).

Bank loans	Carrying amount		Within 1 year		2024		2025		2026		2027		Thereafter
	SGD’000
Secured floating rate bank loans		9,269		5,437		194		180		180		180		3,098
		164		24		24		24		24		24		44
Balance as of December 31, 2022		9,433		5,461		218		204		204		204		3,142

	Carrying amount		Within 1 year		2025		2026		2027		2028		Thereafter
	SGD’000
Secured floating rate bank loans		7,841		4,218		180		180		180		180		2,903
		140		23		23		23		23		23		25
Balance as of December 31, 2023		7,981		4,241		203		203		203		203		2,928
Balance as of December 31, 2023 (US$)		6,050		3,215		153		153		153		153		2,226