CONTRACT LIABILITIES

6 Months Ended

Jun. 30, 2024

Contract Liabilities

CONTRACT LIABILITIES

12. CONTRACT LIABILITIES

Contract liabilities primarily relate to advance consideration received from customers.

Movement in contract liabilities:

	December 31, 2023			June 30, 2024
	SGD’000			SGD’000
As of January 1,		4,319			6,960
Decrease in contract liabilities as a result of recognizing revenue during the year that was included in the contract liabilities at the beginning of the year		(140	)		(3,295	)
Increase in contract liabilities as a result of receiving forward sales deposits and instalments during the year in respect of machines still under production		2,781			1,396
As of December 31/June 30		6,960			5,061