PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

12 Months Ended

Jun. 30, 2024

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:

	December 31, 2023			June 30, 2024
	SGD’000			SGD’000
Leasehold buildings and improvements		7,523			7,523
Right-of-use assets		2,592			2,592
Plant and machinery		4,535			4,540
Furniture and fittings		2,724			2,835
Subtotal		17,374			17,490
Less: accumulated depreciation		(8,859	)		(9,300	)
Property, plant and equipment, net		8,515			8,190

Depreciation of property, plant and equipment including amortization of right-of-use assets expense was approximately SGD315 thousand and SGD441 thousand (US$325 thousand) for the six-month periods ended June 30, 2023 and 2024, respectively. Leasehold buildings are pledged with a bank to secure bank loans (Note 9).

6. PROPERTY, PLANT AND EQUIPMENT, NET

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

	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).