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Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
SGD ($)
Dec. 31, 2021
SGD ($)
Statement of Cash Flows [Abstract]        
Net income $ 393 $ 519 $ 1,192 $ 2
Adjustment:        
Depreciation and amortization 532 702 672 614
(Gain)/Loss on disposal of property, plant and equipment 36 (71)
Reversal of allowance for expected credit losses (8) (11) (49)
Change in fair value of financial instruments (2) (3)
Changes in operating assets:        
Increase in inventories (1,653) (2,181) (9,335) (1,177)
Decrease/(increase) of accounts receivable 571 753 (2,495) 5,537
Increase/(decrease) of accounts payable, accruals and other current liabilities (573) (757) 374 (1,480)
Increase of contract liabilities 2,002 2,641 4,319
Repayment of lease liabilities (220) (291)
Cash provided by/(used in) operating activities 1,044 1,375 (5,239) 3,373
Proceeds from disposal of property, plant and equipment 20 71
Purchase of property, plant and equipment (160) (211) (817) (788)
Cash used in investing activities (160) (211) (797) (717)
Proceeds from bank loans 189 250 1,750
Net proceeds from/(repayment of) controlling shareholder loan (562) (741) (782) 1,523
Repayment of bank loans (1,290) (1,702) (312) (2,094)
Dividends paid (2,900)
Proceeds from issuance of shares 14,931
Acquisition of treasury shares (14) (18)
Placement of escrowed funds with escrow agent (804)
Payment of deferred financing costs (270) (356) (1,546) (361)
Cash (used in)/provided by financing activities (1,947) (2,567) 11,487 (2,082)
Foreign currency effect (52) (69) 2 (16)
Net change in cash and cash equivalents (1,115) (1,472) 5,453 558
Cash and cash equivalents as of beginning of the year 4,973 6,561 1,108 550
Cash and cash equivalents as of the end of the year 3,858     1,108
Cash and cash equivalents as of the end of the year 3,858 5,089 6,561 1,108
Supplementary Cash Flows Information        
Cash paid for interest 387 511 317 217
Cash paid for taxes $ 219 $ 289 $ 531