RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

6 Months Ended

Jun. 30, 2025

Right-of-use Rou Assets And Lease Payable

RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

7. RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

The right-of-use assets relate to leases of industrial lands in Singapore, certain plant and machinery, furniture and fittings and motor vehicles under a number of leases.

The Company recognized operating lease ROU assets and lease liabilities as follows:

	December 31, 2024			June 30, 2025			June 30, 2025
	SGD’000			SGD’000			USD’000
Right-of-use assets		2,592			2,592			2,038
Less: accumulated amortization		(960	)		(1,066	)		(838	)
Operating lease ROU asset, net		1,632			1,526			1,200

	December 31, 2024		June 30, 2025		June 30, 2025
	SGD’000		SGD’000		USD’000
Operating lease liabilities
Current portion		292		233		183
Non-current portion		986		891		701
Total		1,278		1,124		884

The operating lease ROU asset with a carrying amount of SGD739 thousand and SGD709 thousand (US$554 thousand) is pledged to a bank to secure bank loans (Note 9) as of December 31, 2024 and June 30, 2025, respectively.

As of June 30, 2025, future minimum lease payments under the non-cancelable operating leases are as follows:

Future payment	SGD’000		USD’000
2026		235		185
2027		163		128
2028		74		58
2029		29		23
2030		30		24
Thereafter		593		466
Total		1,124		884

The following summarizes other supplemental information about the Company’s operating lease as of June 30, 2025:

Weighted average discount rate	4.33	%
Weighted average remaining lease term (years)	11