CONTRACT LIABILITIES

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

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

12. CONTRACT LIABILITIES

Contract liabilities primarily relate to the advance consideration received from customers.

Movement in contract liabilities:

	2022		2023			2023
	SGD’000		SGD’000			USD’000
As of January 1,		-		4,319			3,274
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	)		(106	)
Increase in contract liabilities as a result of receiving forward sales deposits and instalments during the year in respect of machines still under production		4,319		2,781			2,108
As of December 31,		4,319		6,960			5,276