BANK LOANS

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

BANK LOANS

9. BANK LOANS

The bank loans as of December 31, 2023 and 2024 are set out below:

Bank loans	Currency	Period	Interest rate	Third Party guarantee	Directors’ Personal guarantee		Carrying amount
							SGD’000
Secured floating rate bank loans	SGD	2015 - 2028	SIBOR+1.25% to +1.5%	NIL				7,841
	US$	2023 - 2029	London Inter Bank Offer Rate +1.25%	NIL				140
Balance as of December 31, 2023						3,430		7,981
Secured floating rate bank loans	SGD	2015 - 2028	SIBOR+1.25% to +1.5%	NIL				8,676
	US$	2023 - 2029	London Inter Bank Offer Rate +1.25%	NIL				118
Balance as of December 31, 2024						3,430		8,794
Balance as of December 31, 2024 (US$)						2,511		6,437

Other than directors’ personal guarantee, the bank loans are secured by corporate guarantee provided the Company, financial instrument (Note 5), leasehold buildings (Note 6) and operating lease ROU asset (Note 7).

	Carrying amount		Within 1 year		2025		2026		2027		2028		Thereafter
	SGD’000
Secured floating rate bank loans		7,841		4,218		180		180		180		180		2,903
		140		23		23		23		23		23		25
Balance as of December 31, 2023		7,981		4,241		203		203		203		203		2,928

Bank loans	Carrying amount		Within 1 year		2026		2027		2028		2029		Thereafter
	SGD’000
Secured floating rate bank loans		8,676		1,304		1,309		4,400		1,142		521		-
		118		24		24		24		24		22		-
Balance as of December 31, 2024		8,794		1,328		1,333		4,424		1,166		543		-
Balance as of December 31, 2024 (US$)		6,437		972		976		3,239		854		396		-