PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2024

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			2024			2024
	SGD’000			SGD’000			USD’000
Leasehold buildings		7,523			2,948			2,158
Leasehold improvements		-			910			666
Plant and machinery		4,535			4,380			3,206
Equipment, furniture and fittings		2,724			2,883			2,110
Subtotal		14,782			11,121			8,140
Less: accumulated depreciation		(8,110	)		(7,063	)		(5,170	)
Property, plant and equipment, net		6,672			4,058			2,970

Depreciation expense was approximately SGD493 thousand and SGD769 thousand (US$563 thousand) for the years ended December 31, 2023 and 2024, respectively.

Leasehold buildings are pledged with a bank to secure bank loans (Note 9).