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FBS Global Limited E9 74 Tagore Lane, #02-00 Sindo Industrial Estate Singapore SG 787498 +65 62857781 122 E. 42nd Street, 18th Floor New York NY 10168 (800) 221-0102 true false This Registration Statement contains two prospectuses, as set forth below. ● Public Offering Prospectus. A prospectus to be used for the initial public offering of 2,250,000 Ordinary Shares of US$0.001 par value each (“Ordinary Shares”) of the Registrant (the “Public Offering Prospectus”), which Ordinary Shares are offered by the Company through the underwriters named in the Underwriting section of the Public Offering Prospectus. ● Resale Prospectus. A prospectus to be used for the potential resale by the Resale Prospectus Shareholders identified therein of 1,884,337 Ordinary Shares of the Registrant (the “Resale Prospectus”), which Ordinary Shares will only be offered once such shares are listed on the Nasdaq Capital Market and only be offered for sale after the 2,250,000 Ordinary Shares in the Public Offering Prospectus are sold. The Resale Prospectus is substantively identical to the Public Offering Prospectus, except for the following principal points: ● they contain different front covers; ● all references in the Public Offering Prospectus to “this offering” will be changed to “the IPO,” defined as the underwritten initial public offering of our Ordinary Shares, in the Resale Prospectus; ● all references in the Public Offering Prospectus to “underwriters” will be changed to “underwriters of the IPO” in the Resale Prospectus; ● they contain different “Use of Proceeds” sections; ● the Public Offering Prospectus contains a “Principal Shareholder” section and the Resale Prospectus contains a “Selling Shareholder” section; ● they contain different “Summary — The Offering” sections; ● the section “Shares Eligible For Future Sale — Resale Prospectus Shareholders Resale Prospectus” from the Public Offering Prospectus is deleted from the Resale Prospectus; ● the “Underwriting” section from the Public Offering Prospectus is deleted from the Resale Prospectus and a Plan of Distribution section is inserted in its place; ● the “Legal Matters” section in the Resale Prospectus deletes the reference to counsel for the underwriters; and ● they contain different back covers. The Registrant has included in this Registration Statement a set of alternate pages after the back cover page of the Public Offering Prospectus (the “Alternate Pages”) to reflect the foregoing differences in the Resale Prospectus as compared to the Public Offering Prospectus. The Public Offering Prospectus will exclude the Alternate Pages and will be used for the initial public offering by the Registrant. The Resale Prospectus will be substantively identical to the Public Offering Prospectus except for the addition or substitution of the Alternate Pages and will be used for the resale offering by the Resale Prospectus Shareholders.

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1. Organization and Business Description Organization and Nature of Operations FBS Global Limited is a holding company which was incorporated on March 10, 2022 under the laws of Cayman Islands as an exempted company with limited liability (“FBS Cayman” or “the Company”). It is a holding company with no business operation. FBS Cayman owns <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220222__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zLqvI7ArWCvg" title="Equity interest">100% equity interest of Success Elite Development Limited, a limited liability company incorporated in the British Virgin Islands on February 22, 2022, acting as a holding company. Success Elite Development Limited (“SEDL”), in turn, holds <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220222__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FBSSGMember_zujeEQchHGsk" title="Equity interest">100% equity interest of Finebuild System Pte Ltd. (“FBS SG”), the only operation arm of the group of companies which is a limited liability company incorporated on March 9, 1996 under the laws of the Republic of Singapore. From the beginning as a construction company since 1996, FBS SG has developed into a premier integrated engineering company that provides a full suite of construction and engineering services. These services include the supply of building materials and precast concrete components, recycling of construction and industrial wastes, research, and development, as well as pavement consultancy services. The Company is an established interior design and build (also referred to as “fit-out”) specialist in Singapore with a track record of over 20 years in institutional, residential, commercial and industrial building projects. The Company’s scope of services comprises design, supply and installation of ceilings, partitions, timber deck, carpet, lead lining, acoustic wall panel, built-in furnishing, carpentry and mechanical & electrical services of a building. The Company also undertakes main construction and building works projects. A reorganization of the Company’s legal structure was completed on August 2, 2022. The reorganization involved the incorporation of FBS Cayman, and its wholly-owned subsidiaries, SEDL; and the transfer of all equity ownership of FBS SG to SEDL from the former shareholders of FBS SG. In consideration of the transfer, the Company issued 11,250,000 ordinary shares with par value $0.001 per share to the former shareholders of FBS SG. With effect from July 25, 2022, the former shareholders transferred their 100% ownership interest in FBS SG to SEDL, which is 100% owned by FBS Cayman. After the reorganization, FBS Cayman owns 100% equity interests of SEDL and FBS SG. The controlling shareholder of FBS Cayman is same as that of FBS SG prior to the reorganization. The transactions were between entities under common control, and therefore accounted for in a manner similar to the pooling-of-interest method. Under the pooling-of-interests method, combination between two businesses under common control is accounted for at carrying amounts with retrospective adjustment of prior period financial statements, and the equity accounts of the combining entities are combined and the difference between the consideration paid and the net assets acquired is reflected as an equity transaction (i.e., distribution to parent company). As opposed to the purchase method of accounting, no intangible assets are recognized in the transaction, and no goodwill is recognized as a result of the reorganization. <p id="xdx_896_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zMYhfUx9DzPf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The accompanying consolidated financial statements reflect the activities of FBS Cayman and the following entity: Schedule of Consolidated Financial Statements Reflect the Activities of FBS Cayman <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center">Subsidiary</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%">Date of Incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 8%">Jurisdiction of Formation</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%">Percentage of direct/indirect Economic Ownership</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 34%; text-align: center">Principal Activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Success Elite Development Limited (SEDL)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zKPZg8PJhcQi" title="Date of incorporation">February 22, 2022</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">BVI</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zctkntfCl0Nk" title="Percentage of direct or indirect economic ownership">100% owned by FBS Cayman</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><p id="xdx_98B_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zg7szndv5X55" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center" title="Principal activities">Investment Holding Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Finebuild Systems Pte Ltd (“FBS SG”)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zBo4BaBcAV86" title="Date of incorporation">March 09, 1996</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zbAw1DK62jl" title="Percentage of direct or indirect economic ownership">100% owned by SEDL</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><p id="xdx_98D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zbjXD4UJcUxl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center" title="Principal activities">General Contractors Building construction including major upgrading works</td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

11250000

0.001

<p id="xdx_896_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zMYhfUx9DzPf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">The accompanying consolidated financial statements reflect the activities of FBS Cayman and the following entity: Schedule of Consolidated Financial Statements Reflect the Activities of FBS Cayman <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center">Subsidiary</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%">Date of Incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 8%">Jurisdiction of Formation</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%">Percentage of direct/indirect Economic Ownership</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 34%; text-align: center">Principal Activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Success Elite Development Limited (SEDL)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zKPZg8PJhcQi" title="Date of incorporation">February 22, 2022</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">BVI</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zctkntfCl0Nk" title="Percentage of direct or indirect economic ownership">100% owned by FBS Cayman</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><p id="xdx_98B_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zg7szndv5X55" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center" title="Principal activities">Investment Holding Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Finebuild Systems Pte Ltd (“FBS SG”)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zBo4BaBcAV86" title="Date of incorporation">March 09, 1996</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zbAw1DK62jl" title="Percentage of direct or indirect economic ownership">100% owned by SEDL</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><p id="xdx_98D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zbjXD4UJcUxl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center" title="Principal activities">General Contractors Building construction including major upgrading works</td></tr> </table>

2022-02-22

Investment Holding

1996-03-09

General Contractors Building

2. Summary of Significant Accounting Policies Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in providing a full suite of construction and engineering services. The Company’s business is capital intensive. Working deficit was approximately SGD 0.2 million (USD 0.2 million) as of June 30, 2024, as compared to working capital approximately SGD 1.2 million as of December 31, 2023. As of June 30, 2024, cash in bank balance was approximately SGD 4.6 million (USD 3.4 million). In addition to cash in bank, the Company also has other current assets mainly composed of accounts receivable, and contract assets. The Company had accounts receivable of approximately SGD 1.5 million (USD 1.1 million), and contract assets of approximately SGD 5.3 million (USD 3.9 million) as of June 30, 2024, all of them are short-term in nature and can be collected back within the Company’s operating cycles to be used to support the Company’s working capital need. Although the Company believes that it can realize its current assets in the normal course of business, its ability to repay its current obligations will depend on the future realization of its current assets. Management has considered historical experience, the economic environment, trends in the construction industry, and the expected collectability of accounts receivable and contract assets as of June 30, 2024. The Company expects to realize balances net of allowance within the normal operating cycle of a twelve-month period. If the Company is unable to realize its current assets within the normal twelvemonth operating cycle, the Company may have to consider supplementing its available sources of funds through the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financing from the Company’s officers/shareholders;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other available sources of financing from banks and other financial institutions, given the Company’s credit history;</td></tr> </table> Based on the above considerations, management is of the opinion that the Company has sufficient funds to meet its working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for its services, economic conditions, competitive pricing in the construction industry, its operating results continuing to making profit and its bank and shareholders being able to provide continued financial support. Basis of Presentation and Consolidation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) The results of operations for the six months ended June 30, 2024 are not necessarily indicative of results to be expected for any other interim period or for the full year of 2024. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto as of and for the year ended December 31, 2022 and 2023. The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiary. All intercompany transactions and balances among the Company and its subsidiary have been eliminated upon consolidation. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Significant estimates required to be made by management, include, but are not limited to, the allowance for credit losses, the determination of the useful lives of property and equipment, impairment of long-lived assets, allowance for deferred tax assets, uncertain tax position, right-of-use assets, financing lease liabilities, revenue recognition and contingencies. Actual results could differ from those estimates. Foreign Currency Translation and transaction The Company uses Singapore Dollars (“SGD”) as its reporting currency. The functional currency of the Company in Cayman and British Virgin Island is U.S. dollar and the subsidiary which incorporate in Singapore is Singapore Dollars which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange in place at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statement of operations. Assets and liabilities of the Company translated from their respective functional currencies to the reporting currency at the exchange rates at the balance sheet dates, equity accounts are translated at historical exchange rates and revenues and expenses are translated at the average exchange rates in effect during the reporting period. The resulting foreign currency translation adjustment are recorded in other comprehensive income (loss). Convenience translation Translations of balances in the unaudited condensed consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows from SGD into USD as of and for the six months ended June 30, 2024 are solely for the convenience of the reader and were calculated at the rate of SGD 1.00 to USD 0.74, representing the noon buying rate in The City of New York for cable transfers of SGD as certified for customs purposes by the Federal Reserve Bank of New York on the last trading day of June 28, 2024. No representation is made that the SGD amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate. Fair Value of Financial Instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepayments and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets and liabilities.</td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 2 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 3 -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.</td></tr> </table> The Company considers the carrying amount of its financial assets and liabilities, which consist primarily of accounts receivable, contract assets, due from related parties, financing lease, prepayments and other current assets, accounts payable, contract liabilities, income taxes payable, due to related parties, loan from related party, accrued expenses and other current liabilities approximate the fair value of the respective assets and liabilities as of June 30, 2024 and December 31, 2023 due to their short-term nature. Cash and Restricted Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks that can be added or withdrawn without limitation and have original maturities of less than three months. The Company maintains the bank accounts in Singapore. Cash balances in bank accounts in Singapore with maximum amount of SGD 75,000 are insured under the Deposit Protection Scheme introduced by the Singapore Government. Cash balances in bank accounts in Singapore are not otherwise insured by the Federal Deposit Insurance Corporation or other programs. Restricted cash consisted of deposit which is required to be withheld in the bank by the Company to compensate the customer in case of breach of contract. Accounts Receivable, net Accounts receivable are recognized and carried at original invoiced amount. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including accounts receivable. The Company adopted ASC Topic 326 using the modified retrospective method in scope of the standard. Results for reporting periods beginning after January 1, 2023 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, the Company recorded nil allowance for credit losses. The Company uses simplified flow rate matrix approach to estimate expected credit losses for the accounts receivable. The allowance for credit losses is estimated for accounts receivable that share similar risk characteristics based on a collective assessment using a combination of measurement models and management judgment. The approach considers factors including historical ageing schedule and forward-looking macroeconomic conditions. Prepayments Prepayments represent advance payments made to the service providers for future services. Prepayments are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the realizability of the prepayments becomes doubtful. As of June 30, 2024 and December 31, 2023, there was no allowance recorded as the Company considers all of the prepayments fully realizable. Other receivables – related parties Other receivables - related parties represent amounts owed to a company by its related parties. Related parties can include affiliated companies, parent companies, subsidiaries, directors, officers, or shareholders. The Company considers the assets to be impaired if the realizability of the receivables becomes doubtful. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including Other receivables – related parties. Upon adoption, the Company recorded nil allowance for credit losses. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Lease On January 1, 2020, the Company adopted ASU 2016-02 Leases (Topic 842) (“Topic 842”) issued by the FASB, using the modified retrospective transition method and elected the transition option to use an effective date of January 1, 2020 as the date of initial application. The adoption of Topic 842 resulted in the presentation of financing lease on the consolidated balance sheet. The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. The Company classifies a lease as a finance lease when the lease meets any of the following criteria at lease commencement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">c.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease term is for the major part of the remaining economic life of the underlying asset;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">d.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments in accordance with ASC 842 paragraph 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">e.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td></tr> </table> All leases of the Company are currently classified as financing leases. The Company recognizes a lease in the financial statement when the arrangement either explicitly or implicitly involves property, plant or equipment (“PP&E”), the contract terms are dependent on the useful life of the PP&E, and the Company have the ability or right to control the PP&E or to direct others to control the PP&E and receive the majority of the economic benefits of the assets. Financing lease liability, current, and financing lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The financing lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company applied its interest rate based on the actual incremental borrowing rate from the leasing contract that is available at lease commencement date in determining the lease interest expense. The Company’s lease terms may include options to extend or terminate the lease. Lease expenses for lease payments are recognized on a straight-line basis over the lease term, under depreciation expenses. The Company reviews the impairment of its financing lease assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of financing lease liabilities in the tested asset group and include the associated financing lease payments in the undiscounted future pre-tax cash flows. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Property and Equipment, net <p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zOWgkVdR4mzh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 60%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 38%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zmEHvMk49GHg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zm1vLpWhdZr2" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zVHJOjKwrOX4" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zQtRJGLR1BE7" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_z28xCx2zNXkb" title="Property plant and equipment useful life">6 years</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss) in other income or expenses. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. Deferred Offering Cost Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. As of December 31, 2023 and June 30, 2024, the Company has incurred and deferred SGD828,458 and SGD1,115,413 (USD 825,406) of deferred offering costs. Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets, such as property and equipment, whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. There were no impairment losses on long-lived assets for the years ended June 30, 2024 and December 31, 2023. Revenue Recognition The Company adopted the revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, starting January 1, 2020 using the modified retrospective method for contracts that were not completed as of the date of adoption. The adoption of this ASC 606 did not have a material impact on the Company’s consolidated financial statements. The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the Company satisfies a performance obligation. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) The Company enters into agreements with customers that create enforceable rights and obligations and for which it is probable that the Company will collect the consideration to which it will be entitled as services transfer to the customer. It is customary practice for the Company to have the agreements with its customers in writing. The Company recognizes revenue based on the consideration specified in the applicable agreement. Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on the Company’s consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. The Company will recognize the revenue of sales of construction material when the performance obligation is satisfied by transferring a promised good or service to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods. Revenue from service orders is recognized when the entity satisfied the performance obligation at a point in time generally as the services are provided. The contracts which the Company enters into with the clients are fixed price and provide for milestone billings based upon the attainment of specific project objectives to ensure the Company meets its contractual requirements. Additionally, contracts may include retentions or holdbacks paid at the end of a project to ensure that Company meets the contract requirements. The Company does not assess whether a contract contains a significant financing component if the Company expects, at contract inception, that the period between payment by the customers and the transfer of promised services to the customers will be less than one year. Since the Company has concluded that the promises to be delivered on the contract would be one single performance obligation, no allocation of the transaction price is required and expected. As a professional interior design and fit-out service provider, the Company recognizes revenue based on the Company’s effort or inputs to the satisfaction of a performance obligation over time as work progresses because of the continuous transfer of control to the customer and the Company’s right to bill the customer as costs are incurred. The Company’s contract with the customer has payment terms specified based upon certain conditions completed. The Company will submit monthly progress claim to the customer, and after the Company received the certified interim progress certificate, the Company will issue a tax invoice to the customer. The final tax invoice is generally issued after the project completion and agreed by customer and the Company. As the Company’s customers are required to pay the Company at different billing stages over the contract period, as such, the Company believes the progress payments limit the Company’s exposure to credit risk and that the Company would be able to collect substantially all of the consideration gradually at different stages. The timing of the satisfaction of the Company’s performance obligations is based upon the cost-to-cost measure of progress method, which is generally different than the timing of unconditional right of payment, and is based upon certain conditions completed as specified in the contract. The timing between the satisfaction of the Company’s performance obligations and the unconditional right of payment would contribute to contract assets and contract liabilities. The Company uses the ratio of actual costs incurred to total estimated costs since costs incurred (an input method) represent a reasonable measure of progress towards the satisfaction of a performance in order to estimate the portion of revenue earned. This method faithfully depicts the transfer of value to the customer when the Company is satisfying a performance obligation that entails a number of interrelated tasks or activities for a combined output that requires the Company to coordinate the work of employees and subcontractors. Contract costs typically include direct labor, subcontract and consultant costs, materials and indirect costs related to contract performance. Changes in estimated costs to complete these obligations result in adjustments to revenue on a cumulative catch-up basis, which causes the effect of revised estimates to be recognized in the current period. Changes in estimates can routinely occur over the contract term for a variety of reasons including, changes in scope, unanticipated costs, delays or favorable or unfavorable progress than original expectations. When the outcome of the contract cannot be reasonably measured, revenue is recognized only to the extent of contract costs incurred that are expected to be recovered. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) When the current estimates of the total amount of consideration expected to be received in exchange for transferring promised goods or services to the customer, and contract cost indicate a loss, a provision for the entire loss on the contract is made as soon as the loss become evident. An adjustment is also made to reflect the effects of the customer’s credit risk. The loss on a contract is reported as an additional contract cost (an operating expense), and not as a reduction of revenue or a non-operating expense. The Company’s contracts may contain variable consideration in the form of unpriced or pending change orders or claims that either increase or decrease the contract price. Variable consideration is generally estimated using the expected value method but may from time to time be estimated using the most likely amount method depending on the circumstance. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are based upon historical experience and known trends. The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2024 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20230630_ze1fiNmFEhSd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20240630_zaMLcqkTXuG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zVcye4qzVSC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">4,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zsOxwhDz2NR7" style="width: 14%; text-align: right" title="Revenue">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zTRX2yRg1Qgh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,981,864</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,333,053</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zZUxJilya0Pf" style="border-bottom: Black 1pt solid; text-align: right" title="Over time">6,166,460</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zY6hchVEtr45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zQ2I00R9xV69" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table presents revenue by major revenue type for the six months ended June 30, 2024 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20230630_zneUOBV7hLz6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630_zX7BlEcijKx2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zr2AtKvF8q6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Revenue from construction contracts</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,981,864</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,333,053</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zrogdvJm4CPa" style="width: 14%; text-align: right" title="Revenue from construction contracts">6,166,460</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zx9H0SomEv0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Sales of construction materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zBaTF6niZ1Rg" style="border-bottom: Black 1pt solid; text-align: right" title="Sales of construction materials">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_zX7fR2VeKGIb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zE1tMoa6eD4i" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Warranty The Company generally provides limited warranties for work performed under its contracts. At the time a sale is recognized, the Company records estimated future warranty costs under ASC 460. Such estimated costs for warranties are estimated at completion and these warranties are not service warranties separately sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience or Company’s best estimate. There were no such reserves for the six months ended June 30, 2023 and 2024 because the Company’s historical warranty expenses were immaterial to the Company’s consolidated financial statements. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Contract Assets and Contract Liabilities Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. Provisions for estimated losses of contract assets on uncompleted contracts are made in the period in which such losses are determined. Contract assets have billing term with unconditional right to be billed beyond one year are classified as non-current assets. Contract liabilities on uncompleted contracts represent the amounts of cash collected from clients, billings to clients on contracts in advance of work performed and revenue recognized and provisions for losses. The majority of these amounts are expected to be earned within twelve months and are classified as current liabilities. Cost of Revenue The Company’s cost of revenue is primarily comprised of the material costs, subcontracting costs and staff costs. These costs are expenses as incurred. Borrowing Costs All borrowing costs are recognized in interest expenses in the consolidated statement of operations and comprehensive income (loss) in the period in which they are incurred. Advertising Costs The Company expenses advertising costs as incurred and were included as part of selling and marketing expenses. Advertising costs for the six months ended June 30, 2023 and 2024, totaled SGD 0 and SGD 0 respectively. Employee Benefit Plan Employees of the Company located in Singapore participate in a compulsory saving scheme (pension fund) for the retirement of residents in Singapore. Employees are required to contribute monthly to mandatory provident fund schemes provided by approved private organizations, according to their salaries and the period of employment. The Company is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. Total expenses for the plan were SGD 60,814 and SGD 62,791 (USD 46,465) for the six months ended June 30, 2023 and 2024, respectively. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Income Taxes The Company accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. The Company has recognized deferred tax assets for temporary differences, operating losses and tax credit carryforwards. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. The accruals for deferred tax assets and liabilities, including deferred income tax assets and liabilities, are subject to significant judgment and are reviewed and adjusted routinely based on changes in facts and circumstances. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes”, prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company believes there were no uncertain tax positions at June 30, 2023 and 2024, respectively. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months. The Company is not currently under examination by an income tax authority, nor has been notified that an examination is contemplated. (Loss) earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Company by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. As of June 30, 2023 and 2024, there were no dilutive shares. Comprehensive Income (Loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Commitments and Contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation. Significant Risks Currency Risk The Company’s operating activities are transacted in S$. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Company considers the foreign exchange risk in relation to transactions denominated in SGD with respect to USD is significant. Concentration and Credit Risk Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and accounts receivable. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash with financial institutions located in Singapore. As of December 31, 2023 and June 30, 2024, SGD 4,482,359 and SGD 4,604,336 (USD 3,407,209) were deposited with financial institutions located in Singapore. The Deposit Protection Scheme introduced by the Singapore Government insured each depositor at one bank for a maximum amount of SGD75,000. Otherwise, these balances are not covered by insurance. The unsecured deposited amount as of December 31, 2023 and June 30, 2024 will be SGD 4,332,359 and SGD 4,454,336 (USD 3,296,209). The Company believes that no significant credit risk exists as these financial institutions have high credit quality and the Company has not incurred any losses related to such deposits. For the credit risk related to accounts receivable, the Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company establishes an allowance for credit losses based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The management believes that its contract acceptance, billing, and collection policies are adequate to minimize material credit risk. Application for progress payment of contract works is made on a regular basis. The Company seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by the Directors. For the six months ended June 30, 2024 and for the year ended December 31, 2023, all of the Company’s assets were located in Singapore and all of the Company’s revenue were derived from its subsidiary located in Singapore. The Company has a concentration of its revenue and accounts receivable with specific customers and purchases and accounts payable with specific suppliers. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) For the six months ended June 30, 2023, two customers accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z5ZpLwrlrRg6" title="Concentration risk percentage">60% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zSUJIXcJCcNl" title="Concentration risk percentage">23% of the Company’s total revenue, respectively. For the six months ended June 30, 2024, four customers accounted for approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z8F9sP7QKk2c" title="Concentration risk percentage">25%, <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zDxVLohqynf9" title="Concentration risk percentage">19%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zMtxDZW0vKH" title="Concentration risk percentage">18% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zVCyrr1RHLt3" title="Concentration risk percentage">13% of the Company’s total revenue, respectively. As of December 31, 2023, four customers’ accounts receivable accounted for approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zyZV9ftyV5eg" title="Concentration risk percentage">34%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zi05sJwCxjme" title="Concentration risk percentage">20%, <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zHJy0cF1a0Ga" title="Concentration risk percentage">15% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zatFgSWtfmD9" title="Concentration risk percentage">12% of the total accounts receivable, respectively. As of June 30, 2024, three customers’ account receivables accounted for approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zNBVOCWw8xnb" title="Concentration risk percentage">43%, <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z3p4A6WT4EE9" title="Concentration risk percentage">33% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zMTAOlmJN7Dl" title="Concentration risk percentage">16% of total accounts receivable, respectively. For the six months ended June 30, 2023, one supplier accounted for approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zoAVznIotwqb">11% of the Company’s total purchases. For the six months ended June 30, 2024, one supplier accounted for approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z1xZlyxPoAHg">15% of the Company’s total purchases. As of December 31, 2023, two supplier’s accounts payable accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zBhImA4G0NWh">38% and <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zfkN8AC8r7bk">13%, respectively, of the total accounts payable and two suppliers’ accounts payable accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zaKTHC6T2Ga3">63%, and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_z0w2iEK8haD2">11% of the total accounts payable as of June 30, 2024, respectively. Interest rate risk Fluctuations in market interest rates may negatively affect the Company’s financial condition and results of operations. The Company is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. The Company has not used any derivative financial instruments to manage the interest risk exposure. Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) In June 2022, the FASB issued Accounting Standards Update (ASU) No. 2022-03 Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company is currently assessing the adoption of ASU 2021-04 on the consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the Accounting Standards Codification. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently assessing the adoption of ASU 2023-06 on the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, which is an update to Topic 280, Segment Reporting. The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this update: (1) require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”), (2) Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss, (3) Require that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, and (4) Clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s unaudited interim condensed consolidated financial statements. In other words, in addition to the measure that is most consistent with the measurement principles under generally accepted accounting principles (GAAP), a public entity is not precluded from reporting additional measures of a segment’s profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources, (5) Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (6) Require that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this Update and all existing segment disclosures in Topic 280. The amendments in this Update also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. A public entity should apply the amendments in this Update retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is evaluating the effect this guidance will have on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. 5 The other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is permitted. We are evaluating the effect this guidance will have on our tax disclosures. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in providing a full suite of construction and engineering services. The Company’s business is capital intensive. Working deficit was approximately SGD 0.2 million (USD 0.2 million) as of June 30, 2024, as compared to working capital approximately SGD 1.2 million as of December 31, 2023. As of June 30, 2024, cash in bank balance was approximately SGD 4.6 million (USD 3.4 million). In addition to cash in bank, the Company also has other current assets mainly composed of accounts receivable, and contract assets. The Company had accounts receivable of approximately SGD 1.5 million (USD 1.1 million), and contract assets of approximately SGD 5.3 million (USD 3.9 million) as of June 30, 2024, all of them are short-term in nature and can be collected back within the Company’s operating cycles to be used to support the Company’s working capital need. Although the Company believes that it can realize its current assets in the normal course of business, its ability to repay its current obligations will depend on the future realization of its current assets. Management has considered historical experience, the economic environment, trends in the construction industry, and the expected collectability of accounts receivable and contract assets as of June 30, 2024. The Company expects to realize balances net of allowance within the normal operating cycle of a twelve-month period. If the Company is unable to realize its current assets within the normal twelvemonth operating cycle, the Company may have to consider supplementing its available sources of funds through the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financing from the Company’s officers/shareholders;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other available sources of financing from banks and other financial institutions, given the Company’s credit history;</td></tr> </table> Based on the above considerations, management is of the opinion that the Company has sufficient funds to meet its working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for its services, economic conditions, competitive pricing in the construction industry, its operating results continuing to making profit and its bank and shareholders being able to provide continued financial support. 200000 200000 1200000

4600000

3400000

1500000

1100000

5300000

3900000

Basis of Presentation and Consolidation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) The results of operations for the six months ended June 30, 2024 are not necessarily indicative of results to be expected for any other interim period or for the full year of 2024. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto as of and for the year ended December 31, 2022 and 2023. The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiary. All intercompany transactions and balances among the Company and its subsidiary have been eliminated upon consolidation. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Significant estimates required to be made by management, include, but are not limited to, the allowance for credit losses, the determination of the useful lives of property and equipment, impairment of long-lived assets, allowance for deferred tax assets, uncertain tax position, right-of-use assets, financing lease liabilities, revenue recognition and contingencies. Actual results could differ from those estimates.

Foreign Currency Translation and transaction The Company uses Singapore Dollars (“SGD”) as its reporting currency. The functional currency of the Company in Cayman and British Virgin Island is U.S. dollar and the subsidiary which incorporate in Singapore is Singapore Dollars which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange in place at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statement of operations. Assets and liabilities of the Company translated from their respective functional currencies to the reporting currency at the exchange rates at the balance sheet dates, equity accounts are translated at historical exchange rates and revenues and expenses are translated at the average exchange rates in effect during the reporting period. The resulting foreign currency translation adjustment are recorded in other comprehensive income (loss).

Convenience translation Translations of balances in the unaudited condensed consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows from SGD into USD as of and for the six months ended June 30, 2024 are solely for the convenience of the reader and were calculated at the rate of SGD 1.00 to USD 0.74, representing the noon buying rate in The City of New York for cable transfers of SGD as certified for customs purposes by the Federal Reserve Bank of New York on the last trading day of June 28, 2024. No representation is made that the SGD amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate.

1.00

0.74

Fair Value of Financial Instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepayments and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets and liabilities.</td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 2 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 3 -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.</td></tr> </table> The Company considers the carrying amount of its financial assets and liabilities, which consist primarily of accounts receivable, contract assets, due from related parties, financing lease, prepayments and other current assets, accounts payable, contract liabilities, income taxes payable, due to related parties, loan from related party, accrued expenses and other current liabilities approximate the fair value of the respective assets and liabilities as of June 30, 2024 and December 31, 2023 due to their short-term nature.

Cash and Restricted Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks that can be added or withdrawn without limitation and have original maturities of less than three months. The Company maintains the bank accounts in Singapore. Cash balances in bank accounts in Singapore with maximum amount of SGD 75,000 are insured under the Deposit Protection Scheme introduced by the Singapore Government. Cash balances in bank accounts in Singapore are not otherwise insured by the Federal Deposit Insurance Corporation or other programs. Restricted cash consisted of deposit which is required to be withheld in the bank by the Company to compensate the customer in case of breach of contract.

75000

Accounts Receivable, net Accounts receivable are recognized and carried at original invoiced amount. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including accounts receivable. The Company adopted ASC Topic 326 using the modified retrospective method in scope of the standard. Results for reporting periods beginning after January 1, 2023 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, the Company recorded nil allowance for credit losses. The Company uses simplified flow rate matrix approach to estimate expected credit losses for the accounts receivable. The allowance for credit losses is estimated for accounts receivable that share similar risk characteristics based on a collective assessment using a combination of measurement models and management judgment. The approach considers factors including historical ageing schedule and forward-looking macroeconomic conditions.

Prepayments Prepayments represent advance payments made to the service providers for future services. Prepayments are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the realizability of the prepayments becomes doubtful. As of June 30, 2024 and December 31, 2023, there was no allowance recorded as the Company considers all of the prepayments fully realizable. Other receivables – related parties Other receivables - related parties represent amounts owed to a company by its related parties. Related parties can include affiliated companies, parent companies, subsidiaries, directors, officers, or shareholders. The Company considers the assets to be impaired if the realizability of the receivables becomes doubtful. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including Other receivables – related parties. Upon adoption, the Company recorded nil allowance for credit losses. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Lease On January 1, 2020, the Company adopted ASU 2016-02 Leases (Topic 842) (“Topic 842”) issued by the FASB, using the modified retrospective transition method and elected the transition option to use an effective date of January 1, 2020 as the date of initial application. The adoption of Topic 842 resulted in the presentation of financing lease on the consolidated balance sheet. The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. The Company classifies a lease as a finance lease when the lease meets any of the following criteria at lease commencement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">c.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease term is for the major part of the remaining economic life of the underlying asset;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">d.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments in accordance with ASC 842 paragraph 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">e.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td></tr> </table> All leases of the Company are currently classified as financing leases. The Company recognizes a lease in the financial statement when the arrangement either explicitly or implicitly involves property, plant or equipment (“PP&E”), the contract terms are dependent on the useful life of the PP&E, and the Company have the ability or right to control the PP&E or to direct others to control the PP&E and receive the majority of the economic benefits of the assets. Financing lease liability, current, and financing lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The financing lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company applied its interest rate based on the actual incremental borrowing rate from the leasing contract that is available at lease commencement date in determining the lease interest expense. The Company’s lease terms may include options to extend or terminate the lease. Lease expenses for lease payments are recognized on a straight-line basis over the lease term, under depreciation expenses. The Company reviews the impairment of its financing lease assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of financing lease liabilities in the tested asset group and include the associated financing lease payments in the undiscounted future pre-tax cash flows. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Property and Equipment, net <p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zOWgkVdR4mzh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 60%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 38%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zmEHvMk49GHg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zm1vLpWhdZr2" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zVHJOjKwrOX4" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zQtRJGLR1BE7" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_z28xCx2zNXkb" title="Property plant and equipment useful life">6 years</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss) in other income or expenses. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.

<p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zOWgkVdR4mzh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 60%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 38%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zmEHvMk49GHg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zm1vLpWhdZr2" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zVHJOjKwrOX4" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zQtRJGLR1BE7" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_z28xCx2zNXkb" title="Property plant and equipment useful life">6 years</td></tr> </table>

P50Y

P8Y

P10Y

P5Y

P1Y

P3Y

P5Y

P6Y

Deferred Offering Cost Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. As of December 31, 2023 and June 30, 2024, the Company has incurred and deferred SGD828,458 and SGD1,115,413 (USD 825,406) of deferred offering costs.

828458

1115413

825406

Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets, such as property and equipment, whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. There were no impairment losses on long-lived assets for the years ended June 30, 2024 and December 31, 2023.

Revenue Recognition The Company adopted the revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, starting January 1, 2020 using the modified retrospective method for contracts that were not completed as of the date of adoption. The adoption of this ASC 606 did not have a material impact on the Company’s consolidated financial statements. The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the Company satisfies a performance obligation. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) The Company enters into agreements with customers that create enforceable rights and obligations and for which it is probable that the Company will collect the consideration to which it will be entitled as services transfer to the customer. It is customary practice for the Company to have the agreements with its customers in writing. The Company recognizes revenue based on the consideration specified in the applicable agreement. Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on the Company’s consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. The Company will recognize the revenue of sales of construction material when the performance obligation is satisfied by transferring a promised good or service to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods. Revenue from service orders is recognized when the entity satisfied the performance obligation at a point in time generally as the services are provided. The contracts which the Company enters into with the clients are fixed price and provide for milestone billings based upon the attainment of specific project objectives to ensure the Company meets its contractual requirements. Additionally, contracts may include retentions or holdbacks paid at the end of a project to ensure that Company meets the contract requirements. The Company does not assess whether a contract contains a significant financing component if the Company expects, at contract inception, that the period between payment by the customers and the transfer of promised services to the customers will be less than one year. Since the Company has concluded that the promises to be delivered on the contract would be one single performance obligation, no allocation of the transaction price is required and expected. As a professional interior design and fit-out service provider, the Company recognizes revenue based on the Company’s effort or inputs to the satisfaction of a performance obligation over time as work progresses because of the continuous transfer of control to the customer and the Company’s right to bill the customer as costs are incurred. The Company’s contract with the customer has payment terms specified based upon certain conditions completed. The Company will submit monthly progress claim to the customer, and after the Company received the certified interim progress certificate, the Company will issue a tax invoice to the customer. The final tax invoice is generally issued after the project completion and agreed by customer and the Company. As the Company’s customers are required to pay the Company at different billing stages over the contract period, as such, the Company believes the progress payments limit the Company’s exposure to credit risk and that the Company would be able to collect substantially all of the consideration gradually at different stages. The timing of the satisfaction of the Company’s performance obligations is based upon the cost-to-cost measure of progress method, which is generally different than the timing of unconditional right of payment, and is based upon certain conditions completed as specified in the contract. The timing between the satisfaction of the Company’s performance obligations and the unconditional right of payment would contribute to contract assets and contract liabilities. The Company uses the ratio of actual costs incurred to total estimated costs since costs incurred (an input method) represent a reasonable measure of progress towards the satisfaction of a performance in order to estimate the portion of revenue earned. This method faithfully depicts the transfer of value to the customer when the Company is satisfying a performance obligation that entails a number of interrelated tasks or activities for a combined output that requires the Company to coordinate the work of employees and subcontractors. Contract costs typically include direct labor, subcontract and consultant costs, materials and indirect costs related to contract performance. Changes in estimated costs to complete these obligations result in adjustments to revenue on a cumulative catch-up basis, which causes the effect of revised estimates to be recognized in the current period. Changes in estimates can routinely occur over the contract term for a variety of reasons including, changes in scope, unanticipated costs, delays or favorable or unfavorable progress than original expectations. When the outcome of the contract cannot be reasonably measured, revenue is recognized only to the extent of contract costs incurred that are expected to be recovered. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) When the current estimates of the total amount of consideration expected to be received in exchange for transferring promised goods or services to the customer, and contract cost indicate a loss, a provision for the entire loss on the contract is made as soon as the loss become evident. An adjustment is also made to reflect the effects of the customer’s credit risk. The loss on a contract is reported as an additional contract cost (an operating expense), and not as a reduction of revenue or a non-operating expense. The Company’s contracts may contain variable consideration in the form of unpriced or pending change orders or claims that either increase or decrease the contract price. Variable consideration is generally estimated using the expected value method but may from time to time be estimated using the most likely amount method depending on the circumstance. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are based upon historical experience and known trends. The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2024 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20230630_ze1fiNmFEhSd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20240630_zaMLcqkTXuG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zVcye4qzVSC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">4,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zsOxwhDz2NR7" style="width: 14%; text-align: right" title="Revenue">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zTRX2yRg1Qgh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,981,864</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,333,053</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zZUxJilya0Pf" style="border-bottom: Black 1pt solid; text-align: right" title="Over time">6,166,460</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zY6hchVEtr45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zQ2I00R9xV69" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table presents revenue by major revenue type for the six months ended June 30, 2024 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20230630_zneUOBV7hLz6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630_zX7BlEcijKx2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zr2AtKvF8q6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Revenue from construction contracts</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,981,864</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,333,053</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zrogdvJm4CPa" style="width: 14%; text-align: right" title="Revenue from construction contracts">6,166,460</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zx9H0SomEv0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Sales of construction materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zBaTF6niZ1Rg" style="border-bottom: Black 1pt solid; text-align: right" title="Sales of construction materials">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_zX7fR2VeKGIb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zE1tMoa6eD4i" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Warranty The Company generally provides limited warranties for work performed under its contracts. At the time a sale is recognized, the Company records estimated future warranty costs under ASC 460. Such estimated costs for warranties are estimated at completion and these warranties are not service warranties separately sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience or Company’s best estimate. There were no such reserves for the six months ended June 30, 2023 and 2024 because the Company’s historical warranty expenses were immaterial to the Company’s consolidated financial statements. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Contract Assets and Contract Liabilities Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. Provisions for estimated losses of contract assets on uncompleted contracts are made in the period in which such losses are determined. Contract assets have billing term with unconditional right to be billed beyond one year are classified as non-current assets. Contract liabilities on uncompleted contracts represent the amounts of cash collected from clients, billings to clients on contracts in advance of work performed and revenue recognized and provisions for losses. The majority of these amounts are expected to be earned within twelve months and are classified as current liabilities.

The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2024 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230101__20230630_ze1fiNmFEhSd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20240630_zaMLcqkTXuG7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zVcye4qzVSC1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">4,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zsOxwhDz2NR7" style="width: 14%; text-align: right" title="Revenue">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zTRX2yRg1Qgh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,981,864</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,333,053</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zZUxJilya0Pf" style="border-bottom: Black 1pt solid; text-align: right" title="Over time">6,166,460</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zY6hchVEtr45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zQ2I00R9xV69" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4000

8981864

8333053

6166460

8985864

8333053

6166460

The following table presents revenue by major revenue type for the six months ended June 30, 2024 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20230101__20230630_zneUOBV7hLz6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240101__20240630_zX7BlEcijKx2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">SGD</td><td> </td><td> </td> <td colspan="2" style="text-align: center">USD</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zr2AtKvF8q6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Revenue from construction contracts</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,981,864</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,333,053</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zrogdvJm4CPa" style="width: 14%; text-align: right" title="Revenue from construction contracts">6,166,460</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zx9H0SomEv0l" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Sales of construction materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20240101__20240630__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zBaTF6niZ1Rg" style="border-bottom: Black 1pt solid; text-align: right" title="Sales of construction materials">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_zX7fR2VeKGIb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,985,864</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,333,053</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_pp0p0_uUSD_c20240101__20240630_zE1tMoa6eD4i" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">6,166,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8981864

8333053

6166460

4000

8985864

8333053

6166460

Cost of Revenue The Company’s cost of revenue is primarily comprised of the material costs, subcontracting costs and staff costs. These costs are expenses as incurred.

Borrowing Costs All borrowing costs are recognized in interest expenses in the consolidated statement of operations and comprehensive income (loss) in the period in which they are incurred.

Advertising Costs The Company expenses advertising costs as incurred and were included as part of selling and marketing expenses. Advertising costs for the six months ended June 30, 2023 and 2024, totaled SGD 0 and SGD 0 respectively.

Employee Benefit Plan Employees of the Company located in Singapore participate in a compulsory saving scheme (pension fund) for the retirement of residents in Singapore. Employees are required to contribute monthly to mandatory provident fund schemes provided by approved private organizations, according to their salaries and the period of employment. The Company is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. Total expenses for the plan were SGD 60,814 and SGD 62,791 (USD 46,465) for the six months ended June 30, 2023 and 2024, respectively. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

60814

62791

46465

Income Taxes The Company accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. The Company has recognized deferred tax assets for temporary differences, operating losses and tax credit carryforwards. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. The accruals for deferred tax assets and liabilities, including deferred income tax assets and liabilities, are subject to significant judgment and are reviewed and adjusted routinely based on changes in facts and circumstances. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes”, prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company believes there were no uncertain tax positions at June 30, 2023 and 2024, respectively. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months. The Company is not currently under examination by an income tax authority, nor has been notified that an examination is contemplated.

(Loss) earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Company by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. As of June 30, 2023 and 2024, there were no dilutive shares.

Comprehensive Income (Loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Commitments and Contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.

Significant Risks Currency Risk The Company’s operating activities are transacted in S$. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Company considers the foreign exchange risk in relation to transactions denominated in SGD with respect to USD is significant. Concentration and Credit Risk Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and accounts receivable. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash with financial institutions located in Singapore. As of December 31, 2023 and June 30, 2024, SGD 4,482,359 and SGD 4,604,336 (USD 3,407,209) were deposited with financial institutions located in Singapore. The Deposit Protection Scheme introduced by the Singapore Government insured each depositor at one bank for a maximum amount of SGD75,000. Otherwise, these balances are not covered by insurance. The unsecured deposited amount as of December 31, 2023 and June 30, 2024 will be SGD 4,332,359 and SGD 4,454,336 (USD 3,296,209). The Company believes that no significant credit risk exists as these financial institutions have high credit quality and the Company has not incurred any losses related to such deposits. For the credit risk related to accounts receivable, the Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company establishes an allowance for credit losses based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The management believes that its contract acceptance, billing, and collection policies are adequate to minimize material credit risk. Application for progress payment of contract works is made on a regular basis. The Company seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by the Directors. For the six months ended June 30, 2024 and for the year ended December 31, 2023, all of the Company’s assets were located in Singapore and all of the Company’s revenue were derived from its subsidiary located in Singapore. The Company has a concentration of its revenue and accounts receivable with specific customers and purchases and accounts payable with specific suppliers. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) For the six months ended June 30, 2023, two customers accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z5ZpLwrlrRg6" title="Concentration risk percentage">60% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zSUJIXcJCcNl" title="Concentration risk percentage">23% of the Company’s total revenue, respectively. For the six months ended June 30, 2024, four customers accounted for approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z8F9sP7QKk2c" title="Concentration risk percentage">25%, <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zDxVLohqynf9" title="Concentration risk percentage">19%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zMtxDZW0vKH" title="Concentration risk percentage">18% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zVCyrr1RHLt3" title="Concentration risk percentage">13% of the Company’s total revenue, respectively. As of December 31, 2023, four customers’ accounts receivable accounted for approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zyZV9ftyV5eg" title="Concentration risk percentage">34%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zi05sJwCxjme" title="Concentration risk percentage">20%, <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zHJy0cF1a0Ga" title="Concentration risk percentage">15% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zatFgSWtfmD9" title="Concentration risk percentage">12% of the total accounts receivable, respectively. As of June 30, 2024, three customers’ account receivables accounted for approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zNBVOCWw8xnb" title="Concentration risk percentage">43%, <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z3p4A6WT4EE9" title="Concentration risk percentage">33% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zMTAOlmJN7Dl" title="Concentration risk percentage">16% of total accounts receivable, respectively. For the six months ended June 30, 2023, one supplier accounted for approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zoAVznIotwqb">11% of the Company’s total purchases. For the six months ended June 30, 2024, one supplier accounted for approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z1xZlyxPoAHg">15% of the Company’s total purchases. As of December 31, 2023, two supplier’s accounts payable accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zBhImA4G0NWh">38% and <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zfkN8AC8r7bk">13%, respectively, of the total accounts payable and two suppliers’ accounts payable accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zaKTHC6T2Ga3">63%, and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_z0w2iEK8haD2">11% of the total accounts payable as of June 30, 2024, respectively. Interest rate risk Fluctuations in market interest rates may negatively affect the Company’s financial condition and results of operations. The Company is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. The Company has not used any derivative financial instruments to manage the interest risk exposure.

4482359

4604336

3407209

75000 4332359 4454336 3296209

0.60

0.23

0.25

0.19

0.18

0.13

0.34

0.20

0.15

0.12

0.43

0.33

0.16

0.11

0.15

0.38

0.13

0.63

0.11

Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) In June 2022, the FASB issued Accounting Standards Update (ASU) No. 2022-03 Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company is currently assessing the adoption of ASU 2021-04 on the consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the Accounting Standards Codification. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently assessing the adoption of ASU 2023-06 on the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, which is an update to Topic 280, Segment Reporting. The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this update: (1) require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”), (2) Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss, (3) Require that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, and (4) Clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s unaudited interim condensed consolidated financial statements. In other words, in addition to the measure that is most consistent with the measurement principles under generally accepted accounting principles (GAAP), a public entity is not precluded from reporting additional measures of a segment’s profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources, (5) Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (6) Require that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this Update and all existing segment disclosures in Topic 280. The amendments in this Update also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. A public entity should apply the amendments in this Update retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is evaluating the effect this guidance will have on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. 5 The other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is permitted. We are evaluating the effect this guidance will have on our tax disclosures. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

3. Accounts Receivable, net Accounts receivable, net consisted of the following as of: Schedule of Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zhoMwXDqoiQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240630_zfrO3HOyXxwh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableGrossCurrent_iI_zO81OX4UlRU5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,535,071</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,526,246</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccountsReceivableGrossCurrent_iI_uUSD_c20240630_z8MKricI0X38" style="width: 14%; text-align: right" title="Accounts receivable">1,129,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_zIuIcpgm0Yji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,170</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,170</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_uUSD_c20240630_zEOGM11Si0O5" style="border-bottom: Black 1pt solid; text-align: right" title="Less: allowance for credit loss">(4,566</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--AccountsReceivableNetCurrent_i02I_maACzcbq_zIQuQNrKBQW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,528,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,520,076</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_iI_uUSD_c20240630_ziL7f7FITsHb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accounts receivable, net">1,124,856</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> *The allowance for credit losses remains unchanged since January 1, 2021 FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Accounts receivable, net consisted of the following as of: Schedule of Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231231_zhoMwXDqoiQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240630_zfrO3HOyXxwh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableGrossCurrent_iI_zO81OX4UlRU5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,535,071</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,526,246</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccountsReceivableGrossCurrent_iI_uUSD_c20240630_z8MKricI0X38" style="width: 14%; text-align: right" title="Accounts receivable">1,129,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_zIuIcpgm0Yji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,170</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,170</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_uUSD_c20240630_zEOGM11Si0O5" style="border-bottom: Black 1pt solid; text-align: right" title="Less: allowance for credit loss">(4,566</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--AccountsReceivableNetCurrent_i02I_maACzcbq_zIQuQNrKBQW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,528,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,520,076</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_iI_uUSD_c20240630_ziL7f7FITsHb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accounts receivable, net">1,124,856</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3535071

1526246

1129422

6170

4566

3528901

1520076

1124856

4. Contract Assets/(Liabilities) Contract assets consisted of the following: Schedule of Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zAdbmJYHLQcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630_zl1BPXfyeJH8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--ContractWithCustomerAssetRevenueRecognized_iI_zItSDPqinn02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue recognized to date</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">26,612,224</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">30,223,079</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--ContractWithCustomerAssetRevenueRecognized_iI_pp0p0_uUSD_c20240630_zQwECMmEj5Qf" style="width: 14%; text-align: right" title="Progress billings to date">22,365,079</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iNI_di_zL6RF6BSEZf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Progress billings to date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,105,331</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,917,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iNI_pp0p0_di_uUSD_c20240630_zph8evIUvuTa" style="text-align: right" title="Less: Revenue recognized to date">(18,438,580</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_di_zDVzz2gwDkjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(396,528</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_pp0p0_di_uUSD_c20240630_zThlEBK81G38" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ContractWithCustomerAssetNet_iI_z5GiZEdJ4Ue4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Contract assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,110,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,306,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ContractWithCustomerAssetNet_iI_pp0p0_uUSD_c20240630_zS6Y2m0k7gD3" style="border-bottom: Black 1pt solid; text-align: right" title="Contract assets">3,926,499</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_zSDO27B33t54" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Contract assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,110,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,306,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pp0p0_uUSD_c20240630_zv9w2ApFhj7d" style="border-bottom: Black 1pt solid; text-align: right" title="Contract assets, current">3,926,499</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Movement of the allowance for contract assets were as follows: Schedule of Allowance for Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zb3nqwYwQEY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zEgVcDiPBTD5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_zSkceNZ1pTq3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_pp0p0_uUSD_c20240101__20240630_zxhV06uZa9uk" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_zHBZyXO48cHi" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Addition</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">396,528</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_pp0p0_uUSD_c20240101__20240630_zJSQE3LCCQ2f" style="width: 14%; text-align: right" title="Addition">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_di_zFcKgIIPtYfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(396,528</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_pp0p0_di_uUSD_c20240101__20240630_zv0WAfqXQX22" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_zJbuRE91Wkqf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_pp0p0_uUSD_c20240101__20240630_zqFL31V8mG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contract liabilities consisted of the following: Schedule of Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zF0ocH4b82le" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zrOQCMoLYYA2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_zSMDHfV7Jn78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Billings in advance of performance obligation under contracts</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">1,482,957</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">1,393,890</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zFdKaxcThwmf" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Billings in advance of performance obligation under contracts">1,031,479</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contract liabilities related to contracts are balances due to customers under contracts. These arise if a particular milestone payment exceeds the revenue recognized to date under the cost-to-cost method. The movement in contract liabilities is as follows: Schedule of Movement in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zInpdrz2Pmj9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20240630_zENWO9vcmF2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iS_zcZvzAQzV5A2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Balance at beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">425,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,482,957</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iS_pp0p0_uUSD_c20240101__20240630_ztvaYjX57lba" style="width: 14%; text-align: right" title="Balance at beginning of the period">1,097,388</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_zBj4GRu48hU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(418,432</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,223,140</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zCQPrvUZSs11" style="text-align: right" title="Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year">(905,123</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_zNWZXBHzMFU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Increase in contract liabilities as a result of billings in advance of performance obligation under contracts</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,476,057</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,134,073</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zXiWdigHvPmb" style="border-bottom: Black 1pt solid; text-align: right" title="Increase in contract liabilities as a result of billings in advance of performance obligation under contracts">839,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iE_ztNF0Yn1tUG1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Balance at end of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,482,957</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,393,890</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ContractWithCustomerLiability_iE_pp0p0_uUSD_c20240101__20240630_z6famhbEMs94" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at end of the period">1,031,479</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited)

Contract assets consisted of the following: Schedule of Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zAdbmJYHLQcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630_zl1BPXfyeJH8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--ContractWithCustomerAssetRevenueRecognized_iI_zItSDPqinn02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue recognized to date</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">26,612,224</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">30,223,079</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--ContractWithCustomerAssetRevenueRecognized_iI_pp0p0_uUSD_c20240630_zQwECMmEj5Qf" style="width: 14%; text-align: right" title="Progress billings to date">22,365,079</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iNI_di_zL6RF6BSEZf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Progress billings to date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,105,331</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,917,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iNI_pp0p0_di_uUSD_c20240630_zph8evIUvuTa" style="text-align: right" title="Less: Revenue recognized to date">(18,438,580</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_di_zDVzz2gwDkjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(396,528</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_pp0p0_di_uUSD_c20240630_zThlEBK81G38" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ContractWithCustomerAssetNet_iI_z5GiZEdJ4Ue4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Contract assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,110,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,306,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ContractWithCustomerAssetNet_iI_pp0p0_uUSD_c20240630_zS6Y2m0k7gD3" style="border-bottom: Black 1pt solid; text-align: right" title="Contract assets">3,926,499</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_zSDO27B33t54" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Contract assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,110,365</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,306,079</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pp0p0_uUSD_c20240630_zv9w2ApFhj7d" style="border-bottom: Black 1pt solid; text-align: right" title="Contract assets, current">3,926,499</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

26612224 30 22 21105331 24 18

396528

5110365

5306079

3926499

5110365

5306079

3926499

Movement of the allowance for contract assets were as follows: Schedule of Allowance for Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zb3nqwYwQEY2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zEgVcDiPBTD5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_zSkceNZ1pTq3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_pp0p0_uUSD_c20240101__20240630_zxhV06uZa9uk" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_zHBZyXO48cHi" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Addition</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">396,528</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_pp0p0_uUSD_c20240101__20240630_zJSQE3LCCQ2f" style="width: 14%; text-align: right" title="Addition">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_di_zFcKgIIPtYfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Write-off</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(396,528</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_pp0p0_di_uUSD_c20240101__20240630_zv0WAfqXQX22" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_zJbuRE91Wkqf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_pp0p0_uUSD_c20240101__20240630_zqFL31V8mG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

396528

Contract liabilities consisted of the following: Schedule of Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231_zF0ocH4b82le" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20240630_zrOQCMoLYYA2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_zSMDHfV7Jn78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Billings in advance of performance obligation under contracts</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">1,482,957</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">1,393,890</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zFdKaxcThwmf" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Billings in advance of performance obligation under contracts">1,031,479</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1482957

1393890

1031479

The movement in contract liabilities is as follows: Schedule of Movement in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231_zInpdrz2Pmj9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240101__20240630_zENWO9vcmF2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iS_zcZvzAQzV5A2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Balance at beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">425,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,482,957</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iS_pp0p0_uUSD_c20240101__20240630_ztvaYjX57lba" style="width: 14%; text-align: right" title="Balance at beginning of the period">1,097,388</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_zBj4GRu48hU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(418,432</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,223,140</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zCQPrvUZSs11" style="text-align: right" title="Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year">(905,123</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_zNWZXBHzMFU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Increase in contract liabilities as a result of billings in advance of performance obligation under contracts</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,476,057</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,134,073</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20240101__20240630_zXiWdigHvPmb" style="border-bottom: Black 1pt solid; text-align: right" title="Increase in contract liabilities as a result of billings in advance of performance obligation under contracts">839,214</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iE_ztNF0Yn1tUG1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Balance at end of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,482,957</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,393,890</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ContractWithCustomerLiability_iE_pp0p0_uUSD_c20240101__20240630_z6famhbEMs94" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at end of the period">1,031,479</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

425332

1482957

1097388

-418432

-1223140

-905123

1476057 1134073 839214

1482957

1393890

1031479

5. Prepayments and Other Current Assets Prepayments and other current assets consisted of the following: Schedule of Prepayments and Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_ztS7ECL4KYR1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240630_zNX1qoko6cIe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz6an_ztn0juXokQP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Other deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">78,164</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">77,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_uUSD_c20240630_zuPq9IeXJTgj" style="width: 14%; text-align: right" title="Other deposits">57,134</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6an_zAVXmDh52Hj6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Prepayments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,916</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,688</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PrepaidExpenseCurrent_iI_pp0p0_uUSD_c20240630_zxVvc3MeD5U1" style="border-bottom: Black 1pt solid; text-align: right" title="Prepayments">13,089</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz6an_zHa95woosI2l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Prepayment and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">115,080</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">94,896</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_uUSD_c20240630_zfAwAfxTt3V1" style="border-bottom: Black 2.5pt double; text-align: right" title="Prepayment and other current assets">70,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepayments and other current assets consisted of the following: Schedule of Prepayments and Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231_ztS7ECL4KYR1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240630_zNX1qoko6cIe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz6an_ztn0juXokQP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Other deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">78,164</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">77,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_uUSD_c20240630_zuPq9IeXJTgj" style="width: 14%; text-align: right" title="Other deposits">57,134</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6an_zAVXmDh52Hj6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Prepayments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,916</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,688</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PrepaidExpenseCurrent_iI_pp0p0_uUSD_c20240630_zxVvc3MeD5U1" style="border-bottom: Black 1pt solid; text-align: right" title="Prepayments">13,089</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz6an_zHa95woosI2l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Prepayment and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">115,080</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">94,896</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_uUSD_c20240630_zfAwAfxTt3V1" style="border-bottom: Black 2.5pt double; text-align: right" title="Prepayment and other current assets">70,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

78164

77208

57134

36916

17688

13089

115080

94896

70223

6. Property, plant and equipment Property and equipment, stated at cost less accumulated depreciation and amortization, consisted of the following: Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231_zVOM5jlVV8ck" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240630_zjRD75Ojw3Of" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zgcQrwKdXMq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Building and land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">5,119,699</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">5,119,699</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zqCJfoB9ap4a" style="width: 14%; text-align: right" title="Property plant and equipment">3,788,577</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zQkpYX7YHNOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zqRyGGyXNhcj" style="text-align: right" title="Property plant and equipment">2,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmC3JbOgqMO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Motor vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">602,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">572,434</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zRiEFI7pfRm2" style="text-align: right" title="Property plant and equipment">423,601</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zCxlKUDvY7Wk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zPJ4NmO3BEGg" style="text-align: right" title="Property plant and equipment">135,272</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zsnCGdhHKLlj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_z2SBeMRkxBjh" style="text-align: right" title="Property plant and equipment">25,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_z5mutRBiois9" style="vertical-align: bottom; background-color: White"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zeJSjHBe0SE7" style="text-align: right" title="Property plant and equipment">35,046</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zkXa6DKXdWl7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Forklift</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zcUe0mRkMP8l" style="border-bottom: Black 1pt solid; text-align: right" title="Property plant and equipment">51,060</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzJeD_zQwFCsguNNTk" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,059,016</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,029,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630_ztERJcD54wU3" style="text-align: right" title="Property plant and equipment">4,461,710</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzJeD_zoZltVYPUkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,366,667</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,350,013</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20240630_ze0Uno33VdH1" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation and amortization">(1,739,009</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzJeD_zW6cfRAxluJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and Equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,692,349</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,679,326</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20240630_zCFcKTRha9d2" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and Equipment, net">2,722,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expenses of property and equipment totaled SGD 81,157 and SGD 83,195 (USD 61,564) for the six months ended June 30, 2023 and June 30, 2024, respectively.

Property and equipment, stated at cost less accumulated depreciation and amortization, consisted of the following: Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231_zVOM5jlVV8ck" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240630_zjRD75Ojw3Of" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zgcQrwKdXMq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Building and land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">5,119,699</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">5,119,699</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zqCJfoB9ap4a" style="width: 14%; text-align: right" title="Property plant and equipment">3,788,577</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zQkpYX7YHNOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zqRyGGyXNhcj" style="text-align: right" title="Property plant and equipment">2,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmC3JbOgqMO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Motor vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">602,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">572,434</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zRiEFI7pfRm2" style="text-align: right" title="Property plant and equipment">423,601</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zCxlKUDvY7Wk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zPJ4NmO3BEGg" style="text-align: right" title="Property plant and equipment">135,272</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zsnCGdhHKLlj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_z2SBeMRkxBjh" style="text-align: right" title="Property plant and equipment">25,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_z5mutRBiois9" style="vertical-align: bottom; background-color: White"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zeJSjHBe0SE7" style="text-align: right" title="Property plant and equipment">35,046</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zkXa6DKXdWl7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Forklift</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">69,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zcUe0mRkMP8l" style="border-bottom: Black 1pt solid; text-align: right" title="Property plant and equipment">51,060</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzJeD_zQwFCsguNNTk" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,059,016</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,029,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630_ztERJcD54wU3" style="text-align: right" title="Property plant and equipment">4,461,710</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzJeD_zoZltVYPUkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,366,667</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,350,013</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20240630_ze0Uno33VdH1" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation and amortization">(1,739,009</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzJeD_zW6cfRAxluJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and Equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,692,349</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,679,326</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20240630_zCFcKTRha9d2" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and Equipment, net">2,722,701</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5119699

3788577

4053

2999

602111

572434

423601

182800

135272

33993

25155

47360

35046

69000

51060

6059016

6029339

4461710

2366667

2350013

1739009

3692349

3679326

2722701

81157

83195

61564

7. Investment under equity method Components of investment under equity method are as follows: Schedule of Investment Under Equity Method <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zz0vNECMY1ch" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240630_zL0FSMyZizQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_404_eus-gaap--EquityMethodInvestmentAggregateCost_iI_zk7yfQKeKFI8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Cost of investment in joint venture</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">101,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">101,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentAggregateCost_iI_pp0p0_uUSD_c20240630_zjOvXmO7JNye" style="width: 14%; text-align: right" title="Cost of investment in joint venture">74,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_di_zU0X1IbZG2L9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated share of losses in joint venture</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(101,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(101,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_pp0p0_di_uUSD_c20240630_z8s7JbBe1IZa" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated share of losses in joint venture">(74,740</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EquityMethodInvestments_iI_zQ4CSvnPfT1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestments_iI_pp0p0_uUSD_c20240630_zREXBnG6X0dk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Components of investment under equity method are as follows: Schedule of Investment Under Equity Method <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231231_zz0vNECMY1ch" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240630_zL0FSMyZizQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_404_eus-gaap--EquityMethodInvestmentAggregateCost_iI_zk7yfQKeKFI8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Cost of investment in joint venture</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">101,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">101,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentAggregateCost_iI_pp0p0_uUSD_c20240630_zjOvXmO7JNye" style="width: 14%; text-align: right" title="Cost of investment in joint venture">74,740</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_di_zU0X1IbZG2L9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated share of losses in joint venture</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(101,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(101,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_pp0p0_di_uUSD_c20240630_z8s7JbBe1IZa" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated share of losses in joint venture">(74,740</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EquityMethodInvestments_iI_zQ4CSvnPfT1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestments_iI_pp0p0_uUSD_c20240630_zREXBnG6X0dk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

101000

74740

101000 101000 74740

8. Leases Financing leases as lessee As of December 31, 2023 and June 30, 2024, the Company has financing leases with the financial institutions on its consolidated balance sheets for hire purchase of motor vehicle. The following table shows financing lease liabilities from the financial institutions, and the associated financial statement line items as follows: Schedule of Finance Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zi8uzbzXEntk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240630_zYHPaeZVIbwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zuKWRRfmPi56" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Financing lease liabilities current</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">16,680</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">16,680</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630_zM6BWNPrr6Wh" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Financing lease liabilities current">12,343</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zSf5EmyTt3ml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Financing lease liabilities non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,120</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,780</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630_zkt4u87nze4f" style="border-bottom: Black 2.5pt double; text-align: right" title="Financing lease liabilities non-current">2,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) As of December 31, 2023 and June 30, 2024, leased assets which are included in the “Property, plant and equipment” of the unaudited condensed consolidated balance sheet of following: Schedule of Finance Lease Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zgOMUpo5fEe3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240630_zAfkeFEOekj1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_maPPAEAzdKu_z75SNCW6MLYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Motor vehicles at cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">128,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">128,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zJc7PNHDNjR1" style="width: 14%; text-align: right" title="Motor vehicles at cost">94,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_msPPAEAzdKu_zoawCE8J3Uf2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(87,467</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(100,267</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zmf9IRj9I5V" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation">(74,197</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_mtPPAEAzdKu_zpUoTVmvpEAa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Motor vehicles, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">40,533</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,733</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_znPfHSsrxJt8" style="border-bottom: Black 2.5pt double; text-align: right" title="Motor vehicles, net">20,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Information relating to financing lease activities during the six months ended June 30, 2023 and 2024 are as follows: Schedule of Financing Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230101__20230630_zYa830kB04W1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240630_z172RsNU5Hkh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; text-align: left">Financing lease expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseDepreciation_maFLCzBd9_zCKoT6cJWhKa" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Depreciation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">12,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">12,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--FinanceLeaseDepreciation_pp0p0_uUSD_c20240101__20240630_zVpZMIozR7zl" style="width: 14%; text-align: right" title="Depreciation">9,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_maFLCzBd9_z21gx0QDi1hk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">960</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">960</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseInterestExpense_pp0p0_uUSD_c20240101__20240630_zdiR83DjNtmb" style="border-bottom: Black 1pt solid; text-align: right" title="Interest of lease liabilities">710</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--FinanceLeaseCost_iT_mtFLCzBd9_zQ0Yoy8UkhOj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financing lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">13,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">13,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseCost_iT_pp0p0_uUSD_c20240101__20240630_zHrgfEruf6Sg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total financing lease expenses">10,182</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630_zhfkryRQ3WDh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7x_z6I2lq7YfCul" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify; padding-bottom: 1pt">2025</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">21,608</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_zKh0Nqjl5ae9" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="2025">15,990</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7x_z2hfldLpAXtk" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Year one</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21,608</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_zPPPt1aOBMhj" style="border-bottom: Black 1pt solid; text-align: right" title="Year one">15,990</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7x_zFmkoW0l4Vyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20240630_z0bvafI37ux3" style="text-align: right" title="Total lease payments">15,990</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_z1EnLvVuQ0dh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,148</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20240630_zZy3MWgRZzb1" style="border-bottom: Black 1pt solid; text-align: right" title="Less: imputed interest">(1,590</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iTI_zWIa62Y1aud" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">19,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiability_iTI_pp0p0_uUSD_c20240630_zZ7T3V4jfXZc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">14,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Operating leases as lessee The Company enter a 24 months lease agreement with the related party on January 1, 2024 to rent the warehouse for storage purpose with a monthly rental fee at SGD 60,000.00 (USD 44,400). As of June 30, 2024, the Company has operating leases on its consolidated balance sheets rentals of leasehold buildings. The following table shows operating lease liabilities and the associated financial statement line items: Schedule of Operating Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zXPhZZrscDQj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240630_zRrophhNLcl7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLLziBt_zu8uTsLoLlde" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Operating lease liabilities – current – related party</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">703,518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zNHkihE7qcm2" style="width: 14%; text-align: right" title="Operating lease liabilities - current">520,604</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLLziBt_z8tP5W7O5Qg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities – non current – related party</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">357,673</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zwo6Pe9hyvW2" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities - non current">264,678</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_mtOLLziBt_zzrNvhbabX6i" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,061,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_uUSD_c20240630_zoolRwpawk3i" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">785,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2023 and June 30, 2024, “Right-of-use assets, net” consisted of the following: Schedule of Operating Lease Right of use assets, net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20231231_zlBBRfwaMUba" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20240630_zL956E6KrIHd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_409_ecustom--OperatingLeaseRightOfUseAssetGross_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLROUzqVx_zJaUw64ofcOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Right of use assets – related party</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,407,124</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseRightOfUseAssetGross_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zT19GzlLBeD2" style="width: 14%; text-align: right" title="Leasehold buildings">1,041,272</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msOLROUzqVx_z2vanKQUYNF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">345,933</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_pp0p0_di_uUSD_c20240630_zZALTwRUvz3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated amortization">255,990</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_mtOLROUzqVx_zDP2WYd16O1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Right of use assets, net – related party</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,061,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_z4bI50ifXabl" style="border-bottom: Black 2.5pt double; text-align: right" title="Right-of-use assets (operating lease), net">785,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Information related to operating lease activities during the periods are as follows: Schedule of Operating Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20230630_zodkbY1ssjpl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240630_zzce2o2RyXub" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; text-align: left">Operating lease expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseExpenseAmortization_zZppDi41cTjb" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Amortization</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">345,933</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--OperatingLeaseExpenseAmortization_pp0p0_uUSD_c20240101__20240630_zps2Hn8IClVk" style="width: 14%; text-align: right" title="Armotization">255,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OperatingLeaseInterestExpense_zbMEfWbdd588" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,067</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseInterestExpense_pp0p0_uUSD_c20240101__20240630_zuGO65U74Yr" style="border-bottom: Black 1pt solid; text-align: right" title="Interest of lease liabilities">10,410</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseExpense_zka72Zb4fM17" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">360,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseExpense_iT_pp0p0_uUSD_c20240101__20240630_zpKGvrtwuyx9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total financing lease expenses">266,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Future operating lease payments as of June 30, 2024 are detailed as follows: Schedule of Future Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240630_zoLxsh14tmS" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7n_zkTv1d44JUR2" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">720,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_ztUdmTk38mke" style="width: 14%; text-align: right" title="2025">532,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_maFLLPDzd7n_z5JUCoz03o9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">360,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_pp0p0_uUSD_c20240630_zojzCkpE4ZZk" style="border-bottom: Black 1pt solid; text-align: right" title="2026">266,400</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7n_zbJyjrYyQe5b" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,080,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20240630_zn7zCMkriKof" style="text-align: right" title="Total lease payments">799,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zCcTtKOogO42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18,809</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20240630_zSuCpgq6xbC9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: imputed interest">(13,918</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iI_zUD33btSQ4Y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Present value of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,061,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iI_pp0p0_uUSD_c20240630_zfQK530mUi9f" style="text-align: right" title="Present value of operating lease liabilities">785,282</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zKYa54k69nId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">703,518</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630_z9OsQsilVFyg" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Current portion">520,604</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zS6zRKNWk6r2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Long-term potion of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">357,673</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630_zSfvIGHd1Wfd" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term potion of operating lease liabilities">264,678</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table shows financing lease liabilities from the financial institutions, and the associated financial statement line items as follows: Schedule of Finance Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zi8uzbzXEntk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240630_zYHPaeZVIbwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zuKWRRfmPi56" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Financing lease liabilities current</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">16,680</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">16,680</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630_zM6BWNPrr6Wh" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Financing lease liabilities current">12,343</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zSf5EmyTt3ml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Financing lease liabilities non-current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,120</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,780</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630_zkt4u87nze4f" style="border-bottom: Black 2.5pt double; text-align: right" title="Financing lease liabilities non-current">2,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

16680

12343

11120

2780

2057

As of December 31, 2023 and June 30, 2024, leased assets which are included in the “Property, plant and equipment” of the unaudited condensed consolidated balance sheet of following: Schedule of Finance Lease Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zgOMUpo5fEe3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240630_zAfkeFEOekj1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_maPPAEAzdKu_z75SNCW6MLYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Motor vehicles at cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">128,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">128,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zJc7PNHDNjR1" style="width: 14%; text-align: right" title="Motor vehicles at cost">94,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_msPPAEAzdKu_zoawCE8J3Uf2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(87,467</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(100,267</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zmf9IRj9I5V" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation">(74,197</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_mtPPAEAzdKu_zpUoTVmvpEAa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Motor vehicles, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">40,533</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,733</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20240630__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_znPfHSsrxJt8" style="border-bottom: Black 2.5pt double; text-align: right" title="Motor vehicles, net">20,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

128000

94720

87467

100267

74197

40533

27733

20523

Information relating to financing lease activities during the six months ended June 30, 2023 and 2024 are as follows: Schedule of Financing Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230101__20230630_zYa830kB04W1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240630_z172RsNU5Hkh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; text-align: left">Financing lease expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseDepreciation_maFLCzBd9_zCKoT6cJWhKa" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Depreciation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">12,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">12,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--FinanceLeaseDepreciation_pp0p0_uUSD_c20240101__20240630_zVpZMIozR7zl" style="width: 14%; text-align: right" title="Depreciation">9,472</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_maFLCzBd9_z21gx0QDi1hk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">960</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">960</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseInterestExpense_pp0p0_uUSD_c20240101__20240630_zdiR83DjNtmb" style="border-bottom: Black 1pt solid; text-align: right" title="Interest of lease liabilities">710</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--FinanceLeaseCost_iT_mtFLCzBd9_zQ0Yoy8UkhOj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financing lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">13,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">13,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseCost_iT_pp0p0_uUSD_c20240101__20240630_zHrgfEruf6Sg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total financing lease expenses">10,182</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

12800 12800 9472

960

710

13760 13760 10182

Maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630_zhfkryRQ3WDh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>For the year ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7x_z6I2lq7YfCul" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify; padding-bottom: 1pt">2025</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">21,608</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_zKh0Nqjl5ae9" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="2025">15,990</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7x_z2hfldLpAXtk" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Year one</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21,608</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_zPPPt1aOBMhj" style="border-bottom: Black 1pt solid; text-align: right" title="Year one">15,990</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7x_zFmkoW0l4Vyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20240630_z0bvafI37ux3" style="text-align: right" title="Total lease payments">15,990</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_z1EnLvVuQ0dh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,148</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20240630_zZy3MWgRZzb1" style="border-bottom: Black 1pt solid; text-align: right" title="Less: imputed interest">(1,590</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iTI_zWIa62Y1aud" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">19,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiability_iTI_pp0p0_uUSD_c20240630_zZ7T3V4jfXZc" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">14,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

21608

15990

21608

15990

21608

15990

2148

1590

19460

14400

The Company enter a 24 months lease agreement with the related party on January 1, 2024 to rent the warehouse for storage purpose with a monthly rental fee at SGD

60000.00

44400

The following table shows operating lease liabilities and the associated financial statement line items: Schedule of Operating Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231_zXPhZZrscDQj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240630_zRrophhNLcl7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLLziBt_zu8uTsLoLlde" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Operating lease liabilities – current – related party</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">703,518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zNHkihE7qcm2" style="width: 14%; text-align: right" title="Operating lease liabilities - current">520,604</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLLziBt_z8tP5W7O5Qg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities – non current – related party</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">357,673</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zwo6Pe9hyvW2" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities - non current">264,678</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_mtOLLziBt_zzrNvhbabX6i" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,061,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_uUSD_c20240630_zoolRwpawk3i" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">785,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

703518

520604

357673

264678

1061191

785282

As of December 31, 2023 and June 30, 2024, “Right-of-use assets, net” consisted of the following: Schedule of Operating Lease Right of use assets, net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20231231_zlBBRfwaMUba" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20240630_zL956E6KrIHd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_409_ecustom--OperatingLeaseRightOfUseAssetGross_iI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_maOLROUzqVx_zJaUw64ofcOe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Right of use assets – related party</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,407,124</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseRightOfUseAssetGross_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_zT19GzlLBeD2" style="width: 14%; text-align: right" title="Leasehold buildings">1,041,272</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msOLROUzqVx_z2vanKQUYNF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">345,933</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_pp0p0_di_uUSD_c20240630_zZALTwRUvz3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated amortization">255,990</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_hus-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_mtOLROUzqVx_zDP2WYd16O1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Right of use assets, net – related party</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,061,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionAxis__us-gaap--RelatedPartyMember_z4bI50ifXabl" style="border-bottom: Black 2.5pt double; text-align: right" title="Right-of-use assets (operating lease), net">785,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1407124 1041272 -345933 -255990

1061191

785282

Information related to operating lease activities during the periods are as follows: Schedule of Operating Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20230630_zodkbY1ssjpl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20240630_zzce2o2RyXub" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; text-align: left">Operating lease expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--OperatingLeaseExpenseAmortization_zZppDi41cTjb" style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Amortization</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">345,933</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--OperatingLeaseExpenseAmortization_pp0p0_uUSD_c20240101__20240630_zps2Hn8IClVk" style="width: 14%; text-align: right" title="Armotization">255,990</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OperatingLeaseInterestExpense_zbMEfWbdd588" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,067</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseInterestExpense_pp0p0_uUSD_c20240101__20240630_zuGO65U74Yr" style="border-bottom: Black 1pt solid; text-align: right" title="Interest of lease liabilities">10,410</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseExpense_zka72Zb4fM17" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">360,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseExpense_iT_pp0p0_uUSD_c20240101__20240630_zpKGvrtwuyx9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total financing lease expenses">266,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 345933 255990 14067 10410

360000

266400

Future operating lease payments as of June 30, 2024 are detailed as follows: Schedule of Future Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240630_zoLxsh14tmS" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maFLLPDzd7n_zkTv1d44JUR2" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">720,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_uUSD_c20240630_ztUdmTk38mke" style="width: 14%; text-align: right" title="2025">532,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_maFLLPDzd7n_z5JUCoz03o9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">360,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_pp0p0_uUSD_c20240630_zojzCkpE4ZZk" style="border-bottom: Black 1pt solid; text-align: right" title="2026">266,400</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7n_zbJyjrYyQe5b" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,080,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20240630_zn7zCMkriKof" style="text-align: right" title="Total lease payments">799,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zCcTtKOogO42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18,809</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20240630_zSuCpgq6xbC9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: imputed interest">(13,918</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iI_zUD33btSQ4Y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Present value of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,061,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iI_pp0p0_uUSD_c20240630_zfQK530mUi9f" style="text-align: right" title="Present value of operating lease liabilities">785,282</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zKYa54k69nId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">703,518</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20240630_z9OsQsilVFyg" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Current portion">520,604</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zS6zRKNWk6r2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Long-term potion of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">357,673</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20240630_zSfvIGHd1Wfd" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term potion of operating lease liabilities">264,678</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

720000

532800

360000

266400

1080000

799200

18809

13918

1061191

785282

703518

520604

357673

264678

9. Accrued Expenses and Other Current Liabilities Components of accrued expenses and other current liabilities are as follows: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231_z8FZuc6UHfk6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240630_zqWsPkHzDODj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzOmN_zigzqIozgvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accruals for operating expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">547,661</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">668,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_uUSD_c20240630_z1BayQ9XH7Mk" style="width: 14%; text-align: right" title="Accruals for operating expenses">494,342</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilities_iI_maALAOLzOmN_z85mL9Vy2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Retention payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,647</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_pp0p0_uUSD_c20240630_zLv4CgR7vwh4" style="text-align: right" title="Retention payable">143,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_maALAOLzOmN_zOCpymDOFall" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other payables</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42,711</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,863</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_pp0p0_uUSD_c20240630_zz5ejSpAYIq3" style="border-bottom: Black 1pt solid; text-align: right" title="Other payables">20,617</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzOmN_zBe5te3jSk0a" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">635,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">889,539</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pp0p0_uUSD_c20240630_zRzi5IeeAmH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">658,258</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Components of accrued expenses and other current liabilities are as follows: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231_z8FZuc6UHfk6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240630_zqWsPkHzDODj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzOmN_zigzqIozgvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accruals for operating expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">547,661</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">668,029</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_uUSD_c20240630_z1BayQ9XH7Mk" style="width: 14%; text-align: right" title="Accruals for operating expenses">494,342</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilities_iI_maALAOLzOmN_z85mL9Vy2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Retention payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,423</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,647</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilities_iI_pp0p0_uUSD_c20240630_zLv4CgR7vwh4" style="text-align: right" title="Retention payable">143,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_maALAOLzOmN_zOCpymDOFall" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other payables</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42,711</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,863</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_pp0p0_uUSD_c20240630_zz5ejSpAYIq3" style="border-bottom: Black 1pt solid; text-align: right" title="Other payables">20,617</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzOmN_zBe5te3jSk0a" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">635,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">889,539</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pp0p0_uUSD_c20240630_zRzi5IeeAmH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">658,258</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

547661

668029

494342

45423

193647

143299

42711

27863

20617

635795

889539

658258

10. Bank Borrowings Components of bank borrowings are as follows: Schedule of Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Interest Rate</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">UOB – Loan 1 (Property)</td><td style="width: 2%"> </td> <td style="width: 6%; text-align: center">(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MinimumMember_fKDEp_zQYTbEouuIn3" title="Interest rate">1.98-<span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MaximumMember_fKDEp_zyKJ12egBHab" title="Interest rate">4.95%</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zz63cxVIddql" style="width: 12%; text-align: right" title="Bank borrowings">351,004</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_z8vbNcmYj6Ci" style="width: 12%; text-align: right" title="Bank borrowings">297,723</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zU8epOchYgY6" style="width: 12%; text-align: right" title="Bank borrowings">220,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">UOB – Loan 2 (Bridging Loan)</td><td> </td> <td style="text-align: center">(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25%</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zxsrSzuDWylg" style="text-align: right" title="Bank borrowings">1,408,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zt61pzbZdeoa" style="text-align: right" title="Bank borrowings">1,030,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zoBLr92zVwqg" style="text-align: right" title="Bank borrowings">762,239</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Trust Receipt</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">(3)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MinimumMember_fKDMp_zKRgzfwcVk38" title="Interest rate">5.98-<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MaximumMember_fKDMp_z6zhkLq9TVs5" title="Interest rate">7.0%</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_z5oCXegUov0i" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">578,806</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zjGvO9wHhnwa" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">213,576</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zkfNsRdAp2Wj" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">158,047</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20231231_zOXAHg3YfFvj" style="text-align: right" title="Bank borrowings">2,338,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20240630_zvEVFWz6AQrf" style="text-align: right" title="Bank borrowings">1,541,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LoansPayable_iI_uUSD_c20240630_zMQQ9nE2SLMc" style="text-align: right" title="Bank borrowings">1,140,601</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current portion of long-term bank borrowings</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20231231_zOlNmfHWJNOa" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(1,447,966</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20240630_z098yUSEKcE3" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(1,094,030</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayableToBankCurrent_iNI_di_uUSD_c20240630_zgnrguis3LAk" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(809,582</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current portion of long-term bank borrowings</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20231231_zzCdsLNH8tGa" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">890,330</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20240630_zI0G1bhVvjAb" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">447,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermLoansFromBank_iI_uUSD_c20240630_znRfGWioB0p5" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">331,019</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td id="xdx_F04_zalgQvBLk9Oi" style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20220803__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zwIVxWJ6JMZ4" title="Interest rate">1.68% for the per period from August 4, 2020 to August 3, 2022, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230803__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_z6sPrysn6jY" title="Interest rate">1.98% for the period from August 4, 2022 to August 3, 2023, and at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zCeP7h2YU1ti" title="Interest rate">6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250531__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_z0ctvqYpMjnf" title="Interest rate">1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250601__us-gaap--DebtInstrumentAxis__custom--SingaporeOverNightRateAverageMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_z4HQNgdWtPAj" title="Interest rate">2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of June 30, 2024 the SORA rate is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--SingaporeOverNightRateAverageMember_zBThsLo7HjKj" title="Interest rate">4.85%.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zDs3x3dD85K" title="Interest rate">2.25%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MinimumMember_ztUCp0kWjomg" title="Interest rate">5.98%-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MaximumMember_zfMaNd8l3vbh" title="Interest rate">7.0% depend on the date of execution. All trust receipts matured no later than July 26,2024.</td></tr> </table> Interest expenses pertaining to the above bank borrowings for the six months ended June 30, 2023 and June 30, 2024 amounted to SGD 38,498 and SGD 41,599 (USD 30,785), respectively. Components of bank borrowings interest are as follows as of June 30: Schedule of Bank Borrowings Interest <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">UOB – Loan 1 (Property)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zfx7Vzt1ndk2" style="width: 14%; text-align: right" title="Interest expense">4,267</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zSSl3mE3fyW" style="width: 14%; text-align: right" title="Interest expense">8,164</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zrM4pUBXRsm6" style="width: 14%; text-align: right" title="Interest expense">6,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">UOB – Loan 2 (Bridging Loan)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_z7UmEjyz6f7a" style="text-align: right" title="Interest expense">21,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zGG5BM8hsaE1" style="text-align: right" title="Interest expense">14,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zYR5fzp7O6f9" style="text-align: right" title="Interest expense">10,402</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Trust Receipt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zOrJKjOnfQTg" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">12,498</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zecAo7rzsew6" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">19,378</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zvvnlmMIGoHk" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">14,341</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630_zmcJPqCan7I9" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">38,498</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630_zpTw5ox79tta" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">41,599</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630_zIuKb8EQQcI5" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">30,785</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Maturities of the bank borrowings were as follows: Schedule of Maturities Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">For the period ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_uSGD_c20240630_zRUpF7qpsjO2" style="width: 14%; text-align: right" title="Year one">1,121,316</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_uUSD_c20240630_zYhZATL2AVC4" style="width: 14%; text-align: right" title="Year one">829,774</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uSGD_c20240630_zbunJGUtcuwc" style="text-align: right" title="Year two">384,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uUSD_c20240630_ztmuG25gNR76" style="text-align: right" title="Year two">284,414</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uSGD_c20240630_zecuHRKE0CN9" style="border-bottom: Black 1pt solid; text-align: right" title="Year three">73,207</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uUSD_c20240630_zXJdANjy0bHc" style="border-bottom: Black 1pt solid; text-align: right" title="Year three">54,173</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total bank borrowings repayments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebt_iI_uSGD_c20240630_zkvatmFsQwW9" style="border-bottom: Black 1pt solid; text-align: right" title="Total bank borrowings repayments">1,578,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebt_iI_uUSD_c20240630_z8wI6aJPswY5" style="border-bottom: Black 1pt solid; text-align: right" title="Total bank borrowings repayments">1,168,361</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of long-term bank borrowings</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtCurrent_iI_uSGD_c20240630_zUi634Blf8Ah" style="text-align: right" title="Current portion of long-term bank borrowings">1,121,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtCurrent_iI_uUSD_c20240630_zoAjKqs19CPl" style="text-align: right" title="Current portion of long-term bank borrowings">829,774</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current portion of long-term bank borrowings</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtNoncurrent_iI_uSGD_c20240630_zKh2ePMlPU08" style="text-align: right" title="Non-current portion of long-term bank borrowings">457,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtNoncurrent_iI_uUSD_c20240630_zOT7upLeHMue" style="text-align: right" title="Non-current portion of long-term bank borrowings">338,587</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LessImputedInterest_iI_uSGD_c20240630_zIVCvLq1Kzv3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Imputed interest">(37,514</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--LessImputedInterest_iI_uUSD_c20240630_zkMpvtJQ9x5j" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Imputed interest">(27,760</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--LoansPayable_iTI_uSGD_c20240630_zFfozrIbl8n4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">1,541,352</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iTI_uUSD_c20240630_zfIAWWhVvh9d" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">1,140,601</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Components of bank borrowings are as follows: Schedule of Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Interest Rate</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">UOB – Loan 1 (Property)</td><td style="width: 2%"> </td> <td style="width: 6%; text-align: center">(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MinimumMember_fKDEp_zQYTbEouuIn3" title="Interest rate">1.98-<span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MaximumMember_fKDEp_zyKJ12egBHab" title="Interest rate">4.95%</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zz63cxVIddql" style="width: 12%; text-align: right" title="Bank borrowings">351,004</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_z8vbNcmYj6Ci" style="width: 12%; text-align: right" title="Bank borrowings">297,723</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zU8epOchYgY6" style="width: 12%; text-align: right" title="Bank borrowings">220,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">UOB – Loan 2 (Bridging Loan)</td><td> </td> <td style="text-align: center">(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25%</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zxsrSzuDWylg" style="text-align: right" title="Bank borrowings">1,408,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zt61pzbZdeoa" style="text-align: right" title="Bank borrowings">1,030,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zoBLr92zVwqg" style="text-align: right" title="Bank borrowings">762,239</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Trust Receipt</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">(3)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MinimumMember_fKDMp_zKRgzfwcVk38" title="Interest rate">5.98-<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MaximumMember_fKDMp_z6zhkLq9TVs5" title="Interest rate">7.0%</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_z5oCXegUov0i" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">578,806</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zjGvO9wHhnwa" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">213,576</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zkfNsRdAp2Wj" style="border-bottom: Black 1pt solid; text-align: right" title="Bank borrowings">158,047</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20231231_zOXAHg3YfFvj" style="text-align: right" title="Bank borrowings">2,338,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20240630_zvEVFWz6AQrf" style="text-align: right" title="Bank borrowings">1,541,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LoansPayable_iI_uUSD_c20240630_zMQQ9nE2SLMc" style="text-align: right" title="Bank borrowings">1,140,601</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current portion of long-term bank borrowings</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20231231_zOlNmfHWJNOa" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(1,447,966</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20240630_z098yUSEKcE3" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(1,094,030</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayableToBankCurrent_iNI_di_uUSD_c20240630_zgnrguis3LAk" style="border-bottom: Black 1pt solid; text-align: right" title="long term current">(809,582</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current portion of long-term bank borrowings</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20231231_zzCdsLNH8tGa" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">890,330</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20240630_zI0G1bhVvjAb" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">447,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermLoansFromBank_iI_uUSD_c20240630_znRfGWioB0p5" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term bank borrowings">331,019</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td id="xdx_F04_zalgQvBLk9Oi" style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20220803__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zwIVxWJ6JMZ4" title="Interest rate">1.68% for the per period from August 4, 2020 to August 3, 2022, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230803__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_z6sPrysn6jY" title="Interest rate">1.98% for the period from August 4, 2022 to August 3, 2023, and at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zCeP7h2YU1ti" title="Interest rate">6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250531__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_z0ctvqYpMjnf" title="Interest rate">1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250601__us-gaap--DebtInstrumentAxis__custom--SingaporeOverNightRateAverageMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_z4HQNgdWtPAj" title="Interest rate">2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of June 30, 2024 the SORA rate is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--SingaporeOverNightRateAverageMember_zBThsLo7HjKj" title="Interest rate">4.85%.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zDs3x3dD85K" title="Interest rate">2.25%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MinimumMember_ztUCp0kWjomg" title="Interest rate">5.98%-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhbmsgQm9ycm93aW5ncyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240630__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MaximumMember_zfMaNd8l3vbh" title="Interest rate">7.0% depend on the date of execution. All trust receipts matured no later than July 26,2024.</td></tr> </table>

0.0198

0.0495

351004

297723

220315

0.0225

1408486

1030053

762239

0.0598

0.070

578806

213576

158047

2338296

1541352

1140601

1447966

1094030

809582

890330

447322

331019

0.0168

0.0198

0.0625

0.0120

0.0200

0.0485

0.0225

0.0598

0.070

38498

41599

30785

Components of bank borrowings interest are as follows as of June 30: Schedule of Bank Borrowings Interest <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">UOB – Loan 1 (Property)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zfx7Vzt1ndk2" style="width: 14%; text-align: right" title="Interest expense">4,267</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zSSl3mE3fyW" style="width: 14%; text-align: right" title="Interest expense">8,164</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zrM4pUBXRsm6" style="width: 14%; text-align: right" title="Interest expense">6,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">UOB – Loan 2 (Bridging Loan)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_z7UmEjyz6f7a" style="text-align: right" title="Interest expense">21,733</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zGG5BM8hsaE1" style="text-align: right" title="Interest expense">14,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zYR5fzp7O6f9" style="text-align: right" title="Interest expense">10,402</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Trust Receipt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zOrJKjOnfQTg" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">12,498</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zecAo7rzsew6" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">19,378</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zvvnlmMIGoHk" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">14,341</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20230630_zmcJPqCan7I9" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">38,498</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20240630_zpTw5ox79tta" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">41,599</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20240630_zIuKb8EQQcI5" style="border-bottom: Black 1pt solid; text-align: right" title="Interest expense">30,785</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

4267

8164

6042

21733

14057

10402

12498

19378

14341

38498

41599

30785

Maturities of the bank borrowings were as follows: Schedule of Maturities Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">USD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">For the period ending June 30,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_uSGD_c20240630_zRUpF7qpsjO2" style="width: 14%; text-align: right" title="Year one">1,121,316</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_uUSD_c20240630_zYhZATL2AVC4" style="width: 14%; text-align: right" title="Year one">829,774</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uSGD_c20240630_zbunJGUtcuwc" style="text-align: right" title="Year two">384,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uUSD_c20240630_ztmuG25gNR76" style="text-align: right" title="Year two">284,414</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uSGD_c20240630_zecuHRKE0CN9" style="border-bottom: Black 1pt solid; text-align: right" title="Year three">73,207</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uUSD_c20240630_zXJdANjy0bHc" style="border-bottom: Black 1pt solid; text-align: right" title="Year three">54,173</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total bank borrowings repayments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebt_iI_uSGD_c20240630_zkvatmFsQwW9" style="border-bottom: Black 1pt solid; text-align: right" title="Total bank borrowings repayments">1,578,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebt_iI_uUSD_c20240630_z8wI6aJPswY5" style="border-bottom: Black 1pt solid; text-align: right" title="Total bank borrowings repayments">1,168,361</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of long-term bank borrowings</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtCurrent_iI_uSGD_c20240630_zUi634Blf8Ah" style="text-align: right" title="Current portion of long-term bank borrowings">1,121,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtCurrent_iI_uUSD_c20240630_zoAjKqs19CPl" style="text-align: right" title="Current portion of long-term bank borrowings">829,774</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current portion of long-term bank borrowings</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtNoncurrent_iI_uSGD_c20240630_zKh2ePMlPU08" style="text-align: right" title="Non-current portion of long-term bank borrowings">457,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtNoncurrent_iI_uUSD_c20240630_zOT7upLeHMue" style="text-align: right" title="Non-current portion of long-term bank borrowings">338,587</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LessImputedInterest_iI_uSGD_c20240630_zIVCvLq1Kzv3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Imputed interest">(37,514</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--LessImputedInterest_iI_uUSD_c20240630_zkMpvtJQ9x5j" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Imputed interest">(27,760</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--LoansPayable_iTI_uSGD_c20240630_zFfozrIbl8n4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">1,541,352</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iTI_uUSD_c20240630_zfIAWWhVvh9d" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">1,140,601</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1121316

829774

384343

284414

73207

54173

1578866

1168361

1121316

829774

457550

338587

-37514 -27760

1541352

1140601

11. Income Taxes Cayman Islands and British Virgin Islands Under the current laws of the Cayman Islands and the British Virgin Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends by the Company to its shareholders, no Cayman Islands and BVI withholding tax will be imposed. Singapore In accordance with the relevant tax laws and regulations of Singapore, a company registered in Singapore is subject to income taxes at a flat rate of 17%. Schedule of Relevant Tax Laws and Regulations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023 SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024 SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024 USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Loss) income before provision for income taxes is attributable to the following geographic locations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Singapore</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630__srt--StatementGeographicalAxis__country--SG_z2XHaIM1qMIa" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">(499,557</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630__srt--StatementGeographicalAxis__country--SG_zIErqhV88sAb" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">103,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630__srt--StatementGeographicalAxis__country--SG_zdnBTKkOb4c5" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">76,736</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630__srt--StatementGeographicalAxis__custom--ForeignMember_z1axq7H6iaKf" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630__srt--StatementGeographicalAxis__custom--ForeignMember_znuFegk8QGh7" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630__srt--StatementGeographicalAxis__custom--ForeignMember_zk1m2DDpBXib" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total (loss) income before income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20230101__20230630_zsznZ0Ps5gPe" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">(499,557</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20240101__20240630_zf7TMQkedv94" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">103,697</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uUSD_c20240101__20240630_zPdQw4DdEQb3" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">76,736</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The following table reconciles Singapore statutory rates to the Company’s effective tax: Schedule of Reconciles Singapore Statutory Rates <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">(Loss) income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630_zzR8WZS5F9md" style="width: 14%; text-align: right" title="(loss) income before income taxes">(499,557</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630_zOmMlPk8CUE2" style="width: 14%; text-align: right" title="(loss) income before income taxes">103,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630_zRSZ6CnHvbNf" style="width: 14%; text-align: right" title="(loss) income before income taxes">76,736</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Singapore statutory income tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20230630_zgrN3wVE5aL8" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20240101__20240630_zA5rgYQlNqB6" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20240101__20240630_zZnkvDlxHDLf" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible depreciation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20230630_zsOkIN21NwPd" style="text-align: right" title="Non-deductible depreciation">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20240101__20240630_zbEoyYnbj4F4" style="text-align: right" title="Non-deductible depreciation">13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20240101__20240630_znBv223huvwf" style="text-align: right" title="Non-deductible depreciation">13</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible professional fees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20230630_zHbFYgJxnkVi" style="text-align: right" title="Non-deductible professional fees">-0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20240101__20240630_zrZ0pAix4KRc" style="text-align: right" title="Non-deductible professional fees">59</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20240101__20240630_zJLD8wknIvKk" style="text-align: right" title="Non-deductible professional fees">59</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20230630_zqUGZYsKjyZe" style="text-align: right" title="Other non-deductible expenses">-24</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20240101__20240630_ztMmfHMURXt9" style="text-align: right" title="Other non-deductible expenses">2</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20240101__20240630_zQm8rupnjPO5" style="text-align: right" title="Other non-deductible expenses">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax rebate and exemption</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20230101__20230630_zQiUxn3i9GE8" style="text-align: right" title="Tax rebate and exemption">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20240101__20240630_z6bYHSuaYrP2" style="text-align: right" title="Tax rebate and exemption">-9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20240101__20240630_zZi1KZqmGq2l" style="text-align: right" title="Tax rebate and exemption">-9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20230630_zvr3mYNI80fi" style="text-align: right" title="Effective tax rate">-7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20240630_znckTrenpcR8" style="text-align: right" title="Effective tax rate">82</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20240630_zd971Hyfqdli" style="text-align: right" title="Effective tax rate">82</td><td style="text-align: left">%</td></tr> </table> The Company measures deferred tax assets and liabilities based on the difference between the financial statement and tax bases of assets and liabilities at the applicable tax rates. Components of the Company’s deferred tax asset and liability are as follows: Deferred tax assets as below, Schedule of Deferred tax Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Bad debt provision</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20231231_z9XacqzOzZni" style="width: 14%; text-align: right" title="Bad debt provision">270,556</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20240630_ztYzdENH5Yhj" style="width: 14%; text-align: right" title="Bad debt provision">278,514</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--DeferredTaxBadDebtProvision_iI_uUSD_c20240630_zM7nbYBdSJk7" style="width: 14%; text-align: right" title="Bad debt provision">206,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20231231_zVvbLlfebo91" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">4,726</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20240630_z8Ot4euqX4hk" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">183,711</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxLeaseLiabilities_iI_uUSD_c20240630_zLrBOhFUV9w9" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">135,946</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20231231_z9nxLdlQEt3l" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">275,282</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20240630_zs2IeksCeau5" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">462,225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20240630_zmBF2XJZ9Wg7" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">342,046</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20231231_z8UMTmVE8zwh" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(7,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20240630_znsHlnyTLLI2" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(177,838</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uUSD_c20240630_zMv0TCw66bKg" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(131,600</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20231231_zTJFuC7eLIa7" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(7,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20240630_zSXoJgqmI4of" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(177,838</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxLiabilities_iNI_di_uUSD_c20240630_zydp2W02UPf4" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(131,600</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20231231_zf3AGiksojhj" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">268,213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20240630_zASJlsClnqI7" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">284,387</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uUSD_c20240630_zJV9uw7N4Qsl" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">210,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2023 and June 30, 2024, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income taxes for the six months ended June 30, 2023 and 2024. The Company also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from June 30, 2024.

In accordance with the relevant tax laws and regulations of Singapore, a company registered in Singapore is subject to income taxes at a flat rate of 17%. Schedule of Relevant Tax Laws and Regulations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023 SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024 SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024 USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Loss) income before provision for income taxes is attributable to the following geographic locations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%">Singapore</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630__srt--StatementGeographicalAxis__country--SG_z2XHaIM1qMIa" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">(499,557</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630__srt--StatementGeographicalAxis__country--SG_zIErqhV88sAb" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">103,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630__srt--StatementGeographicalAxis__country--SG_zdnBTKkOb4c5" style="width: 14%; text-align: right" title="Total (Loss) income before income taxes">76,736</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630__srt--StatementGeographicalAxis__custom--ForeignMember_z1axq7H6iaKf" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630__srt--StatementGeographicalAxis__custom--ForeignMember_znuFegk8QGh7" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630__srt--StatementGeographicalAxis__custom--ForeignMember_zk1m2DDpBXib" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total (loss) income before income taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20230101__20230630_zsznZ0Ps5gPe" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">(499,557</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20240101__20240630_zf7TMQkedv94" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">103,697</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uUSD_c20240101__20240630_zPdQw4DdEQb3" style="border-bottom: Black 1pt solid; text-align: right" title="Total (Loss) income before income taxes">76,736</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-499557

103697

76736

-499557

103697

76736

The following table reconciles Singapore statutory rates to the Company’s effective tax: Schedule of Reconciles Singapore Statutory Rates <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">(Loss) income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20230630_zzR8WZS5F9md" style="width: 14%; text-align: right" title="(loss) income before income taxes">(499,557</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20240101__20240630_zOmMlPk8CUE2" style="width: 14%; text-align: right" title="(loss) income before income taxes">103,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20240101__20240630_zRSZ6CnHvbNf" style="width: 14%; text-align: right" title="(loss) income before income taxes">76,736</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Singapore statutory income tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20230630_zgrN3wVE5aL8" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20240101__20240630_zA5rgYQlNqB6" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20240101__20240630_zZnkvDlxHDLf" style="text-align: right" title="Singapore statutory income tax rate">17</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible depreciation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20230630_zsOkIN21NwPd" style="text-align: right" title="Non-deductible depreciation">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20240101__20240630_zbEoyYnbj4F4" style="text-align: right" title="Non-deductible depreciation">13</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20240101__20240630_znBv223huvwf" style="text-align: right" title="Non-deductible depreciation">13</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible professional fees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20230630_zHbFYgJxnkVi" style="text-align: right" title="Non-deductible professional fees">-0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20240101__20240630_zrZ0pAix4KRc" style="text-align: right" title="Non-deductible professional fees">59</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20240101__20240630_zJLD8wknIvKk" style="text-align: right" title="Non-deductible professional fees">59</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20230630_zqUGZYsKjyZe" style="text-align: right" title="Other non-deductible expenses">-24</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20240101__20240630_ztMmfHMURXt9" style="text-align: right" title="Other non-deductible expenses">2</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20240101__20240630_zQm8rupnjPO5" style="text-align: right" title="Other non-deductible expenses">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax rebate and exemption</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20230101__20230630_zQiUxn3i9GE8" style="text-align: right" title="Tax rebate and exemption">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20240101__20240630_z6bYHSuaYrP2" style="text-align: right" title="Tax rebate and exemption">-9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20240101__20240630_zZi1KZqmGq2l" style="text-align: right" title="Tax rebate and exemption">-9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20230630_zvr3mYNI80fi" style="text-align: right" title="Effective tax rate">-7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20240630_znckTrenpcR8" style="text-align: right" title="Effective tax rate">82</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20240101__20240630_zd971Hyfqdli" style="text-align: right" title="Effective tax rate">82</td><td style="text-align: left">%</td></tr> </table>

-499557

103697

76736

0.17

0.13

-0

0.59

-0.24

0.02

-0.09

-0.07

0.82

Deferred tax assets as below, Schedule of Deferred tax Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Bad debt provision</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20231231_z9XacqzOzZni" style="width: 14%; text-align: right" title="Bad debt provision">270,556</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20240630_ztYzdENH5Yhj" style="width: 14%; text-align: right" title="Bad debt provision">278,514</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--DeferredTaxBadDebtProvision_iI_uUSD_c20240630_zM7nbYBdSJk7" style="width: 14%; text-align: right" title="Bad debt provision">206,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20231231_zVvbLlfebo91" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">4,726</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20240630_z8Ot4euqX4hk" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">183,711</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxLeaseLiabilities_iI_uUSD_c20240630_zLrBOhFUV9w9" style="border-bottom: Black 1pt solid; text-align: right" title="Lease liabilities">135,946</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20231231_z9nxLdlQEt3l" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">275,282</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20240630_zs2IeksCeau5" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">462,225</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20240630_zmBF2XJZ9Wg7" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax assets">342,046</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20231231_z8UMTmVE8zwh" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(7,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20240630_znsHlnyTLLI2" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(177,838</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uUSD_c20240630_zMv0TCw66bKg" style="border-bottom: Black 1pt solid; text-align: right" title="Right-of-use assets">(131,600</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20231231_zTJFuC7eLIa7" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(7,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20240630_zSXoJgqmI4of" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(177,838</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxLiabilities_iNI_di_uUSD_c20240630_zydp2W02UPf4" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred tax liabilities">(131,600</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20231231_zf3AGiksojhj" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">268,213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20240630_zASJlsClnqI7" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">284,387</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uUSD_c20240630_zJV9uw7N4Qsl" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deferred tax asset">210,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

270556 278514 206100 4726 183711 135946

275282

462225

342046

7069 177838 131600

7069

177838

131600

268213

284387

210446

12. Related Party Balance and Transactions The following is a list of related parties which the Company has transactions with: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fine Build-Ninefold Group Construction Company (Private) Limited</td></tr> </table> A Joint-Venture (JV) incorporated in Sri Lanka in year 2017 to bid a local project, FBS SG holding 30% shares of the JV. The Company started transferring the share to 3rd party in late 2019, however due to Covid-19 pandemic, the share transfer is still pending for the local secretary to execute. Currently, FineBuild only supply material to the JV. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif">54 Pandan Road Pte Ltd</td></tr> </table> A related company under common control with FBS SG as Mr. Kelvin Ang (also known as Poh Guan Ang) acts as the sole director in this company. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(c)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fastfix Systems Pte Ltd</td></tr> </table> A related company under common control with FBS SG as Mr. Kelvin Ang acts as the sole director in this company. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(d)</td> <td style="font: 10pt Times New Roman, Times, Serif">Kelvin Ang</td></tr> </table> Present sole director and shareholder of FBS Global Limited. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(e)</td> <td style="font: 10pt Times New Roman, Times, Serif">Ang Poh Hwee</td></tr> </table> Project director of FBS Global Limited. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif">Accounts receivable – related party</td></tr> </table> <p id="xdx_899_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHnEr1oOAIM8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">As of December 31, 2023 and June 30, 2024, the balances of Accounts receivable – related party were as follows: Schedule of Accounts Receivable Related Party and Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Accounts receivable – related party</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="width: 2%"> </td> <td style="width: 5%; text-align: center">(1)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zk1kufL0ufmj" style="width: 14%; text-align: right" title="Accounts receivable related party">971,780</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AccountsReceivableGross_iI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFuGtjkLSVw5" style="width: 14%; text-align: right" title="Accounts receivable related party">1,001,185</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--AccountsReceivableGross_iI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z9af1NDBwUsd" style="width: 14%; text-align: right" title="Accounts receivable related party">740,877</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">(1)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgZCvW9Cj0g8" style="border-bottom: Black 1pt solid; text-align: right" title="Allowance for credit loss">(971,780</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zehkokkNdkB6" style="border-bottom: Black 1pt solid; text-align: right" title="Allowance for credit loss">(1,001,185</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zl1Omt1uwHu" style="border-bottom: Black 1pt solid; text-align: right" title="Allowance for credit loss">(740,877</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkvpXGvSt7y2" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zoTUuyVQdV71" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--AccountsReceivableNet_iTI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z9TvkY5C0SG6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Condensed Consolidated Financial Statements (Unaudited) Movement of the provision of credit losses were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zes79jHYRTW9" style="width: 14%; text-align: right" title="Beginning balance">990,941</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zXO9w5FSRKVc" style="width: 14%; text-align: right" title="Beginning balance">971,780</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zWFeP3jneAuk" style="width: 14%; text-align: right" title="Beginning balance">719,117</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exchange rate effect</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zLwW5DBXnzq9" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">(19,161</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFqfWiikTK5c" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">29,405</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zmEfLObWmSe9" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">21,760</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_znhu45TdvhQg" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">971,780</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zPVOfzAoM2I7" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">1,001,185</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUNulLf8G2of" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">740,877</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">b.</td> <td style="font: 10pt Times New Roman, Times, Serif">Other receivables – related parties</td></tr> </table> <p id="xdx_897_ecustom--ScheduleOfOtherReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyQCrDsVm8oa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">As of December 31, 2023 and June 30, 2024, the balances of other receivables-related parties were as follows: Schedule of Other Receivable Related Party Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Other receivables – related parties</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="width: 2%"> </td> <td id="xdx_F29_zU9D32fB3Nd2" style="width: 5%; text-align: center">(3)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zMkVE1GNUMfl" style="width: 14%; text-align: right" title="Other receivables related party">575,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_z1dLBA8nlME5" style="width: 14%; text-align: right" title="Other receivables related party">592,605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherReceivablesGrossCurrent_iI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zjvgkXSURc8i" style="width: 14%; text-align: right" title="Other receivables related party">438,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision for credit losses</td><td> </td> <td id="xdx_F26_zkJkShUDSuja" style="text-align: center">(3)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20231231_fKDMp_z1fAwijUQBqf" style="text-align: right" title="Allowance for credit loss">(575,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20240630_fKDMp_zd2zkYslkNki" style="text-align: right" title="Allowance for credit loss">(592,605</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uUSD_c20240630_fKDMp_zHzBSq0teEH4" style="text-align: right" title="Allowance for credit loss">(438,528</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">54 Pandan Road Pte Ltd</td><td> </td> <td id="xdx_F2B_z4TS5V4Vog0k" style="text-align: center">(2)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zBON3N9e4uai" style="text-align: right" title="Other receivables net">212,794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zqtZWqqCz19c" style="text-align: right" title="Other receivables net">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zitW6tq9t8I7" style="text-align: right" title="Other receivables net">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Ang Poh Hwee</td><td style="padding-bottom: 1pt"> </td> <td id="xdx_F2E_zdDpnRFeiXe1" style="text-align: center; padding-bottom: 1pt">(4)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_z6EwvUSMMYcc" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">30,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zNIGOjs1KCCg" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">27,631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zY7fghHoAETd" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">20,447</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTwdAfcNKks" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">242,794</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zhbcVwpJqCX6" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">27,631</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziRHsjPrVG7l" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">20,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Movement of the provision of credit losses were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zIa1r7GRgdRf" style="width: 14%; text-align: right" title="Beginning balance">586,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFOoudIKmxQ3" style="width: 14%; text-align: right" title="Beginning balance">575,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyOPFeok3ROf" style="width: 14%; text-align: right" title="Beginning balance">425,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exchange rate effect</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zR6gncPKHhK3" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">(11,342</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zccjDLFQclXe" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">17,405</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zJ3wc3uAg088" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">12,880</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNzaJPgtUDdb" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">575,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zaJ168HO5adh" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">592,605</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zq0BZCslMvAf" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">438,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(1)</td><td style="text-align: justify">Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(2)</td><td style="text-align: justify">The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date hereof, the Company has fully collected back.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(3)</td><td style="text-align: justify">Management service provided to the Joint Venture company.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(4)</td><td style="text-align: justify">The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">c.</td> <td style="font: 10pt Times New Roman, Times, Serif">Due to related parties</td></tr> </table> <p id="xdx_898_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zJlOFvhGdPZ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">As of December 31, 2023 and June 30, 2024, the balances of amount due to related parties were as follows: Schedule of Due to Related Parties and Related Party Transactions <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Kelvin Ang</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zvEStYEQK6gd" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">83,388</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zdm88pQw5LE3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">196,528</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_iI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_z0Cesxoxx4yk" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">145,431</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zXUPNBdqo8j4" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">83,388</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgRgynfNhk8h" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">196,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zopDYpHenl7e" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">145,431</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Interim Condensed Consolidated Financial Statements (Unaudited) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif">Operating lease liabilities- related party</td></tr> </table> The Company enter a 24 months lease agreement with the related party on January 1, 2024 to rent the warehouse for storage purpose with a monthly rental fee at SGD 60,000.00 (USD 44,400). The Company accounts for the leases in accordance with ASC 842. The Company’s underlying warehouse were classified as operating leases, and the related lease liabilities were recorded under operating lease liabilities – related party (see Note 8). <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">e.</td> <td style="font: 10pt Times New Roman, Times, Serif">Related party transactions</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Fastfixs Systems Pte Ltd</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Consultation fee</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_z0M6ogrv5cv7" style="width: 14%; text-align: right" title="Consultation fee">11,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zCnzdQWafecl" style="width: 14%; text-align: right" title="Consultation fee">141,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ProfessionalFees_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zWzw7qMEn10d" style="width: 14%; text-align: right" title="Consultation fee">104,340</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Supply of labour</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zEuLkfo0sWt2" style="text-align: right" title="Supply of labour">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_ztXNs2Mn7gVg" style="text-align: right" title="Supply of labour">107,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zwWzIOnxJWhi" style="text-align: right" title="Supply of labour">79,417</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">54 Pandan Road Pte Ltd</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Rental of warehouse</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_zh1gVIIWwr13" style="text-align: right" title="Rental of warehouse">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_z5N9JypJuIjb" style="text-align: right" title="Rental of warehouse">360,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PaymentsForRent_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_zHNVRmiMSuSl" style="text-align: right" title="Rental of warehouse">266,400</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">f.</td> <td style="font: 10pt Times New Roman, Times, Serif">Commitments</td></tr> </table> On November 25, 2020, the Company guaranteed a 5 year commercial loan SGD <span id="xdx_909_eus-gaap--MortgageLoansOnRealEstateCommercialAndConsumerNet_iI_uSGD_c20201125__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemsPteLtdMember_zWKE0DBGLoHj" title="Commercial loan">200,000 from UOB Bank to Fastfixs Systems Pte Ltd, a related party. The interest rate is fixed at <span id="xdx_90E_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_dp_uPure_c20201125__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemsPteLtdMember_zqRdhxjDT1id" title="Interest rate percentage">2.25% per annum and Fastfixs Systems Pte Ltd shall repay the loan over 60 monthly installments with the interest. The Company also guaranteed a SGD <span id="xdx_90E_eus-gaap--MortgageLoansOnRealEstateCommercialAndConsumerNet_iI_uSGD_c20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PandanRoadPteLtdMember_zUIVaBe3WLw" title="Commercial loan">7,400,000 10 year commercial loan on October 31, 2022, in the form of Letter of Credit from UOB Bank to 54 Pandan Road Pte Ltd, a related party. The Letter of Credit has been fully drawn down as of the date of this report.

971780

1001185

740877

971780

1001185

740877

990941

971780

719117

-19161 29405 21760

971780

1001185

740877

<p id="xdx_897_ecustom--ScheduleOfOtherReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyQCrDsVm8oa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">As of December 31, 2023 and June 30, 2024, the balances of other receivables-related parties were as follows: Schedule of Other Receivable Related Party Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Other receivables – related parties</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="width: 2%"> </td> <td id="xdx_F29_zU9D32fB3Nd2" style="width: 5%; text-align: center">(3)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zMkVE1GNUMfl" style="width: 14%; text-align: right" title="Other receivables related party">575,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_z1dLBA8nlME5" style="width: 14%; text-align: right" title="Other receivables related party">592,605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherReceivablesGrossCurrent_iI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zjvgkXSURc8i" style="width: 14%; text-align: right" title="Other receivables related party">438,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision for credit losses</td><td> </td> <td id="xdx_F26_zkJkShUDSuja" style="text-align: center">(3)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20231231_fKDMp_z1fAwijUQBqf" style="text-align: right" title="Allowance for credit loss">(575,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20240630_fKDMp_zd2zkYslkNki" style="text-align: right" title="Allowance for credit loss">(592,605</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uUSD_c20240630_fKDMp_zHzBSq0teEH4" style="text-align: right" title="Allowance for credit loss">(438,528</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">54 Pandan Road Pte Ltd</td><td> </td> <td id="xdx_F2B_z4TS5V4Vog0k" style="text-align: center">(2)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zBON3N9e4uai" style="text-align: right" title="Other receivables net">212,794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zqtZWqqCz19c" style="text-align: right" title="Other receivables net">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zitW6tq9t8I7" style="text-align: right" title="Other receivables net">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Ang Poh Hwee</td><td style="padding-bottom: 1pt"> </td> <td id="xdx_F2E_zdDpnRFeiXe1" style="text-align: center; padding-bottom: 1pt">(4)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_z6EwvUSMMYcc" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">30,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zNIGOjs1KCCg" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">27,631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zY7fghHoAETd" style="border-bottom: Black 1pt solid; text-align: right" title="Other receivables net">20,447</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTwdAfcNKks" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">242,794</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zhbcVwpJqCX6" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">27,631</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziRHsjPrVG7l" style="border-bottom: Black 2.5pt double; text-align: right" title="Other receivables related parties">20,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Movement of the provision of credit losses were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zIa1r7GRgdRf" style="width: 14%; text-align: right" title="Beginning balance">586,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFOoudIKmxQ3" style="width: 14%; text-align: right" title="Beginning balance">575,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyOPFeok3ROf" style="width: 14%; text-align: right" title="Beginning balance">425,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exchange rate effect</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zR6gncPKHhK3" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">(11,342</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zccjDLFQclXe" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">17,405</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zJ3wc3uAg088" style="border-bottom: Black 1pt solid; text-align: right" title="Exchange rate effect">12,880</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNzaJPgtUDdb" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">575,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zaJ168HO5adh" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">592,605</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zq0BZCslMvAf" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">438,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(1)</td><td style="text-align: justify">Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(2)</td><td style="text-align: justify">The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date hereof, the Company has fully collected back.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(3)</td><td style="text-align: justify">Management service provided to the Joint Venture company.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(4)</td><td style="text-align: justify">The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.</td> </tr></table>

575200

592605

438528

575200

592605

438528

212794

30000

27631

20447

242794

27631

20447

586542

575200

425648

-11342 17405 12880

575200

592605

438528

<p id="xdx_898_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zJlOFvhGdPZ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in">As of December 31, 2023 and June 30, 2024, the balances of amount due to related parties were as follows: Schedule of Due to Related Parties and Related Party Transactions <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Kelvin Ang</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zvEStYEQK6gd" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">83,388</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zdm88pQw5LE3" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">196,528</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_iI_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_z0Cesxoxx4yk" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Due to related parties">145,431</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zXUPNBdqo8j4" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">83,388</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgRgynfNhk8h" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">196,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uUSD_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zopDYpHenl7e" style="border-bottom: Black 2.5pt double; text-align: right" title="Due to related parties">145,431</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Interim Condensed Consolidated Financial Statements (Unaudited) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif">Operating lease liabilities- related party</td></tr> </table> The Company enter a 24 months lease agreement with the related party on January 1, 2024 to rent the warehouse for storage purpose with a monthly rental fee at SGD 60,000.00 (USD 44,400). The Company accounts for the leases in accordance with ASC 842. The Company’s underlying warehouse were classified as operating leases, and the related lease liabilities were recorded under operating lease liabilities – related party (see Note 8). <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">e.</td> <td style="font: 10pt Times New Roman, Times, Serif">Related party transactions</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the six months ended June 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">SGD</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">USD</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Fastfixs Systems Pte Ltd</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left">Consultation fee</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_z0M6ogrv5cv7" style="width: 14%; text-align: right" title="Consultation fee">11,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zCnzdQWafecl" style="width: 14%; text-align: right" title="Consultation fee">141,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ProfessionalFees_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zWzw7qMEn10d" style="width: 14%; text-align: right" title="Consultation fee">104,340</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Supply of labour</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zEuLkfo0sWt2" style="text-align: right" title="Supply of labour">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_ztXNs2Mn7gVg" style="text-align: right" title="Supply of labour">107,320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zwWzIOnxJWhi" style="text-align: right" title="Supply of labour">79,417</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">54 Pandan Road Pte Ltd</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Rental of warehouse</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20230101__20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_zh1gVIIWwr13" style="text-align: right" title="Rental of warehouse">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_z5N9JypJuIjb" style="text-align: right" title="Rental of warehouse">360,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PaymentsForRent_pp0p0_uUSD_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_zHNVRmiMSuSl" style="text-align: right" title="Rental of warehouse">266,400</td><td style="text-align: left"> </td></tr> </table>

83388

196528

145431

83388

196528

145431

60000.00

44400

11000

141000

104340

107320

79417

360000

266400

P5Y

200000

0.0225

7400000

P10Y

13. Shareholders’ Equity Ordinary shares The Company was established under the laws of the Cayman Islands on March 10, 2022. The authorized number of Ordinary Shares was 500,000,000 with par value of $0.001 per share. On August 2, 2022, the Company issued 11,250,000 shares to the controlling shareholder at par value of $0.001 per share. As a result, there are total 11,250,000 shares issued. In financial year 2021, the subsidiaries paid out further dividend of SGD 1,300,000 on August 25, 2021 and issued 500,000 ordinary shares to pay the outstanding dividend payable on September 7, 2021. The balance of SGD 5,817,274 (USD 4,304,783) still remains into the account as of June 30, 2024. On January 26, 2022, the subsidiary FBS SG issued 160,000 shares to two new shareholders, Master Stride Limited (“Master Stride”) and Fame Hall Investment Limited (“Fame Hall”), with consideration of SGD7.5 per share. Master Stride subscribed <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--MasterStrideSubscribedMember_zuGvLboBMDqh" title="Stock issued during period, subscribed ordinary shares">82,000 ordinary shares for SGD <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_uSGD_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--MasterStrideSubscribedMember_zsdZQ5MDCoD9" title="Stock issued during period, value, new issues">615,000 and Fame Hall subscribed <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--FameHallSubscribedMember_zWUnl7w8caIe" title="Stock issued during period, shares, new issues">78,000 ordinary shares for SGD <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_uSGD_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--FameHallSubscribedMember_zO3vnjAVqeQa" title="Stock issued during period, subscribed ordinary shares, value">585,000. A total of SGD 712,880 paid in capital received as of June 30, 2022. By August 2022, the two shareholders Master Stride and Fame Hall made full payment of SGD 1,200,000 to subscribe the share of the subsidiary FBS SG.

500000000

0.001

11250000

0.001

11250000

1300000

500000

5817274

4304783

160000

7.5

82000

615000

78000

585000

712880

1200000

14. Commitments and Contingencies Commitments On November 25, 2020, the Company guaranteed a 5 year commercial loan SGD 200,000 from UOB Bank to Fastfixs Systems Pte Ltd, a related party. The interest rate is fixed at 2.25% per annum and Fastfixs Systems Pte Ltd shall repay the loan over 60 monthly installments with the interest. The Company also guaranteed a SGD 7,400,000 10 year commercial loan on October 31, 2022, in the form of Letter of Credit from UOB Bank to 54 Pandan Road Pte Ltd, a related party. The Letter of Credit has been fully drawn down as of the date of this report. FBS GLOBAL LIMITED Notes to Interim Condensed Consolidated Financial Statements (Unaudited) The Company also has a banker’s guarantee totaling SGD 2.23 million (USD 1.65 million) from UOB Bank for the ongoing projects as of June 30, 2023. These guarantees are at the request of the main contractor or owner as a security deposit for the performance of the Company obligations under the contracts. All the banker’s guarantee will expired before October 27, 2026. As of June 30, 2024, the future minimum payments under certain of the Company’s contractual obligations were as follows: Schedule of Future Minimum Payments of Contractual Obligations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Due In</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3 – 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Thereafter</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Bank borrowings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ContractualObligation_iI_c20240630_zKkPEtfvDn4d" style="width: 9%; text-align: right" title="Bank borrowings, payment due in total">1,578,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_c20240630_zfRDFlghtOI6" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in Less than 1 year">1,121,316</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractualObligationDueInSecondAndThirdYear_iI_c20240630_zm1Te3P322ah" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in 1 - 2 years">457,550</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractualObligationDueInFourthAndFifthYear_iI_c20240630_zdIoFtWPTLhj" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in 3 - 5 years">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractualObligationDueAfterFifthYear_iI_c20240630_ziliYCiMGMN6" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in thereafter">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financing lease</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20240630_zsQ7mkTnCeae" style="text-align: right" title="Financing lease, payment due in total">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20240630_z2lfRCBhIHpi" style="text-align: right" title="Financing lease, Payment Due in Less than 1 year">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_c20240630_zkiKsYd0CKv5" style="text-align: right" title="Financing lease, Payment Due in 1 - 2 years">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_c20240630_zTXZzk3Nrxr6" style="text-align: right" title="Financing lease, Payment Due in 3 - 5 years">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_c20240630_zUWbCyxYutk3" style="text-align: right" title="Financing lease, Payment Due in thereafter">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Operating lease</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_c20240630_znBfQaIVVPw5" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, payment due in total">1,080,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20240630_zlwOM4joBzFj" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in Less than 1 year">720,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_c20240630_zQDYYoG8kIbe" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in 1 - 2 years">360,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_c20240630_zVvymQyG0lX5" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in 3 - 5 years">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_c20240630_z7c8p2Ilo8L1" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in thereafter">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contingencies The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matters will have a material adverse effect on its consolidated financial position, cash flows or results of operations on an individual basis or in the aggregate. As of December 31, 2023 and June 30, 2024, the Company is not involved in any material legal or administrative proceedings except for the case below with regards to its subsidiary FBS SG, which matter is now resolved. In August 2021, Newspaper Seng Pte Ltd filed a claim against FBS SG for an amount of approximately SGD2.2 million. Newspaper Seng claim that they have enter an oral agreement with FBS SG in September 2015 to purchase a land and building at 54 Pandan Road, Singapore 609292 to redevelopment, and sale or commercial utilization of the land. Newspaper Seng would invest monies and FBS SG would be in charge the purchase, redevelopment and commercial utilization of the property. In November 2019, FBS SG transferred the property to a third party without the acknowledgment of Newspaper Seng. Hence Newspaper Seng wish to claim back the amount stated above to compensate the loss of the investment. Newspaper Seng Pte Ltd decided to withdraw the suit claims on November 30, 2023 and files the Notice of Discontinuances on April 25, 2024. As of May 21, 2024 both parties have discontinued their claims and counterclaims and the case were settled.

P5Y

200000

0.0225

P60M

7400000

P10Y

2230000

1650000

As of June 30, 2024, the future minimum payments under certain of the Company’s contractual obligations were as follows: Schedule of Future Minimum Payments of Contractual Obligations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Payment Due In</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total SGD</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">1 – 2 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">3 – 5 years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Thereafter</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Bank borrowings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ContractualObligation_iI_c20240630_zKkPEtfvDn4d" style="width: 9%; text-align: right" title="Bank borrowings, payment due in total">1,578,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_c20240630_zfRDFlghtOI6" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in Less than 1 year">1,121,316</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractualObligationDueInSecondAndThirdYear_iI_c20240630_zm1Te3P322ah" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in 1 - 2 years">457,550</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractualObligationDueInFourthAndFifthYear_iI_c20240630_zdIoFtWPTLhj" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in 3 - 5 years">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractualObligationDueAfterFifthYear_iI_c20240630_ziliYCiMGMN6" style="width: 9%; text-align: right" title="Bank borrowings, Payment Due in thereafter">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financing lease</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20240630_zsQ7mkTnCeae" style="text-align: right" title="Financing lease, payment due in total">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20240630_z2lfRCBhIHpi" style="text-align: right" title="Financing lease, Payment Due in Less than 1 year">21,608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_c20240630_zkiKsYd0CKv5" style="text-align: right" title="Financing lease, Payment Due in 1 - 2 years">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_c20240630_zTXZzk3Nrxr6" style="text-align: right" title="Financing lease, Payment Due in 3 - 5 years">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_c20240630_zUWbCyxYutk3" style="text-align: right" title="Financing lease, Payment Due in thereafter">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Operating lease</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_c20240630_znBfQaIVVPw5" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, payment due in total">1,080,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20240630_zlwOM4joBzFj" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in Less than 1 year">720,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_c20240630_zQDYYoG8kIbe" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in 1 - 2 years">360,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_c20240630_zVvymQyG0lX5" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in 3 - 5 years">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_c20240630_z7c8p2Ilo8L1" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Payment Due in thereafter">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1578866

1121316

457550

21608

1080000

720000

360000

2200000

15. Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. Based on the management’s assessment, the Company determined that it has only one operating segment and therefore one reportable segment as defined by ASC 280. The Company’s assets are all located in Singapore and all of the Company’s revenue and expense are derived in the Singapore. Therefore, no geographical segments are presented. The single segment represents the Company’s revenue from construction contracts, sale of construction materials and rendering of services to its customers in Singapore.

16. Subsequent Events The Company has evaluated subsequent events to the balance sheet date of June 30, 2024 through December 4, 2024, the date on which the unaudited interim condensed consolidated financial statements were available to be issued. There were no subsequent events occurred that would require recognition or disclosure in the Company’s unaudited interim condensed consolidated financial statement.

1889817

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1. Organization and Business Description Organization and Nature of Operations FBS Global Limited is a holding company which was incorporated on March 10, 2022 under the laws of Cayman Islands as an exempted company with limited liability (“FBS Cayman” or “the Company”). It is a holding company with no business operation. FBS Cayman owns <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220222__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zQEPBNQkm0s" title="Equity interest">100% equity interest of Success Elite Development Limited, a limited liability company incorporated in the British Virgin Islands on February 22, 2022, acting as a holding company. Success Elite Development Limited (“SEDL”), in turn, holds <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220222__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FBSSGMember_zkbXRD3QOhe5" title="Equity interest">100% equity interest of Finebuild System Pte Ltd. (“FBS SG”), the only operation arm of the group of companies which is a limited liability company incorporated on March 9, 1996 under the laws of the Republic of Singapore. From the beginning as a construction company since 1996, FBS SG has developed into a premier integrated engineering company that provides a full suite of construction and engineering services. These services include the supply of building materials and precast concrete components, recycling of construction and industrial wastes, research, and development, as well as pavement consultancy services. The Company is an established interior design and build (also referred to as “fit-out”) specialist in Singapore with a track record of over 20 years in institutional, residential, commercial and industrial building projects. The Company’s scope of services comprises design, supply and installation of ceilings, partitions, timber deck, carpet, lead lining, acoustic wall panel, built-in furnishing, carpentry and mechanical & electrical services of a building. The Company also undertakes main construction and building works projects. A reorganization of the Company’s legal structure was completed on August 2, 2022. The reorganization involved the incorporation of FBS Cayman, and its wholly-owned subsidiaries, SEDL; and the transfer of all equity ownership of FBS SG to SEDL from the former shareholders of FBS SG. In consideration of the transfer, the Company issued 11,250,000 ordinary shares with par value $0.001 per share to the former shareholders of FBS SG. On August 2, 2022, the former shareholders transferred their <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220802__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SEDLMember_zE3BsjbM1nY8" title="Equity interest">100% ownership interest in FBS SG to SEDL, which is <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220802__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FBSCaymanMember_zctNZUbObFZ" title="Equity interest">100% owned by FBS Cayman. After the reorganization, FBS Cayman owns <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220802__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FBSCaymanMember_zrK5JCCk6Te2" title="Equity ownership interest">100% equity interests of SEDL and FBS SG. The controlling shareholder of FBS Cayman is same as that of FBS SG prior to the reorganization. The transactions were between entities under common control, and therefore accounted for in a manner similar to the pooling-of-interest method. Under the pooling-of-interests method, combination between two businesses under common control is accounted for at carrying amounts with retrospective adjustment of prior period financial statements, and the equity accounts of the combining entities are combined and the difference between the consideration paid and the net assets acquired is reflected as an equity transaction (i.e., distribution to parent company). As opposed to the purchase method of accounting, no intangible assets are recognized in the transaction, and no goodwill is recognized as a result of the reorganization. <p id="xdx_896_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zY4wAGfHvi3d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The accompanying consolidated financial statements reflect the activities of FBS Cayman and the following entity: Schedule of Consolidated Financial Statements Reflect the Activities of FBS Cayman <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center">Subsidiary</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%">Date of Incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%">Jurisdiction of Formation</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%">Percentage of direct/indirect Economic Ownership</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: center">Principal Activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Success Elite Development Limited (SEDL)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zC1qYVTmQKB7" title="Date of incorporation">February 22, 2022</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">BVI</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zDKHqxjUdFK8" title="Percentage of direct or indirect economic ownership">100% owned by FBS Cayman</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zIjGOArgLNEg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Principal activities">Investment Holding Company </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Finebuild Systems Pte Ltd (“FBS SG”)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_906_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zLq4EvsKDxg" title="Date of incorporation">March 09, 1996</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zHfo86LqIur8" title="Percentage of direct or indirect economic ownership">100% owned by SEDL</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zB3dEiv0Abs5" title="Principal activities">General Contractors Building construction including major upgrading works</td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

11250000

0.001

<p id="xdx_896_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zY4wAGfHvi3d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The accompanying consolidated financial statements reflect the activities of FBS Cayman and the following entity: Schedule of Consolidated Financial Statements Reflect the Activities of FBS Cayman <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center">Subsidiary</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%">Date of Incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%">Jurisdiction of Formation</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%">Percentage of direct/indirect Economic Ownership</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: center">Principal Activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Success Elite Development Limited (SEDL)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zC1qYVTmQKB7" title="Date of incorporation">February 22, 2022</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">BVI</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zDKHqxjUdFK8" title="Percentage of direct or indirect economic ownership">100% owned by FBS Cayman</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SuccessEliteDevelopmentLimitedMember_zIjGOArgLNEg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Principal activities">Investment Holding Company </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Finebuild Systems Pte Ltd (“FBS SG”)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_906_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zLq4EvsKDxg" title="Date of incorporation">March 09, 1996</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Singapore</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zHfo86LqIur8" title="Percentage of direct or indirect economic ownership">100% owned by SEDL</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FineBuildSystemsPteLtdMember_zB3dEiv0Abs5" title="Principal activities">General Contractors Building construction including major upgrading works</td></tr> </table>

2022-02-22

Investment Holding Company

1996-03-09

General Contractors Building construction including major upgrading works

2. Summary of Significant Accounting Policies Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in providing a full suite of construction and engineering services. The Company’s business is capital intensive. Working capital was approximately SGD 1.2 million (USD 0.9 million) as of December 31, 2023, as compared to approximately SGD 2.2 million as of December 31, 2022. As of December 31, 2023, cash in bank balance was approximately SGD 4.5 million (USD 3.3 million). In addition to cash in bank, the Company also has other current assets mainly composed of accounts receivable, and contract assets. The Company had accounts receivable of approximately SGD 3.5 million (USD 2.6 million), and contract assets of approximately SGD 5.1 million (USD 3.8 million) as of December 31, 2023, all of them are short-term in nature and can be collected back within the Company’s operating cycles to be used to support the Company’s working capital need. Although the Company believes that it can realize its current assets in the normal course of business, its ability to repay its current obligations will depend on the future realization of its current assets. Management has considered historical experience, the economic environment, trends in the construction industry, and the expected collectability of accounts receivable and contract assets as of December 31, 2023. The Company expects to realize balances net of allowance within the normal operating cycle of a twelve-month period. If the Company is unable to realize its current assets within the normal twelvemonth operating cycle, the Company may have to consider supplementing its available sources of funds through the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financing from the Company’s officers/shareholders;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other available sources of financing from banks and other financial institutions, given the Company’s credit history;</td></tr> </table> Based on the above considerations, management is of the opinion that the Company has sufficient funds to meet its working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for its services, economic conditions, competitive pricing in the construction industry, its operating results continuing to making profit and its bank and shareholders being able to provide continued financial support. Basis of Presentation and Consolidation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiary. All intercompany transactions and balances among the Company and its subsidiary have been eliminated upon consolidation. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Significant estimates required to be made by management, include, but are not limited to, the allowance for credit loss, the determination of the useful lives of property and equipment, impairment of long-lived assets, allowance for deferred tax assets, uncertain tax position, right-of-use assets, financing lease liabilities, revenue recognition and contingencies. Actual results could differ from those estimates. Foreign Currency Translation and transaction The Company uses Singapore Dollars (“SGD”) as its reporting currency. The functional currency of the Company in Cayman and British Virgin Island is U.S. dollar and the subsidiary which incorporate in Singapore is Singapore Dollars which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange in place at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statement of income and comprehensive income. Assets and liabilities of the Company translated from their respective functional currencies to the reporting currency at the exchange rates at the balance sheet dates, equity accounts are translated at historical exchange rates and revenues and expenses are translated at the average exchange rates in effect during the reporting period. The resulting foreign currency translation adjustment are recorded in other comprehensive income. Convenience translation Translations of balances in the consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows from SGD into USD as of and for the year ended December 31, 2023 are solely for the convenience of the reader and were calculated at the rate of SGD 1.00 to USD 0.74, representing the noon buying rate in The City of New York for cable transfers of SGD as certified for customs purposes by the Federal Reserve Bank of New York on the last trading day of December 29, 2023. No representation is made that the SGD amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate. Fair Value of Financial Instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepayments and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets and liabilities.</td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 2 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 3 -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.</td></tr> </table> The Company considers the carrying amount of its financial assets and liabilities, which consist primarily of accounts receivable, contract assets, prepayments and other current assets, accounts payable, contract liabilities, income taxes payable, due to related parties, accrued expenses and other current liabilities approximate the fair value of the respective assets and liabilities as of December 31, 2022 and 2023 due to their short-term nature. <p id="xdx_840_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zhFzFKhCvEwk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Cash and Restricted Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks that can be added or withdrawn without limitation and have original maturities of less than three months. The Company maintains the bank accounts in Singapore. Cash balances in bank accounts in Singapore with maximum amount of SGD 75,000 are insured under the Deposit Protection Scheme introduced by the Singapore Government. Cash balances in bank accounts in Singapore are not otherwise insured by the Federal Deposit Insurance Corporation or other programs. Restricted cash consisted of deposit which is required to be withheld in the bank by the Company to compensate the customer in case of breach of contract. Accounts Receivable, net Accounts receivable are recognized and carried at original invoiced amount. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including accounts receivable. The Company adopted ASC Topic 326 using the modified retrospective method in scope of the standard. Results for reporting periods beginning after January 1, 2023 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, the Company recorded nil allowance for credit losses. The Company uses simplified flow rate matrix approach to estimate expected credit losses for the accounts receivable. The allowance for credit losses is estimated for accounts receivable that share similar risk characteristics based on a collective assessment using a combination of measurement models and management judgment. The approach considers factors including historical ageing schedule and forward-looking macroeconomic conditions. Prepayments Prepayments represent advance payments made to the service providers for future services. Prepayments are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the realizability of the prepayments becomes doubtful. As of December 31, 2022 and 2023, there was no allowance recorded as the Company considers all of the prepayments fully realizable. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Other receivables – related parties Other receivables - related parties represent amounts owed to a company by its related parties. Related parties can include affiliated companies, parent companies, subsidiaries, directors, officers, or shareholders. The Company considers the assets to be impaired if the realizability of the receivables becomes doubtful. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including Other receivables – related parties. Upon adoption, the Company recorded nil allowance for credit losses. Lease On January 1, 2020, the Company adopted ASU 2016-02 Leases (Topic 842) (“Topic 842”) issued by the FASB, using the modified retrospective transition method and elected the transition option to use an effective date of January 1, 2020 as the date of initial application. The adoption of Topic 842 resulted in the presentation of financing lease on the consolidated balance sheet. The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. The Company classifies a lease as a finance lease when the lease meets any of the following criteria at lease commencement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">c.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease term is for the major part of the remaining economic life of the underlying asset;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments in accordance with ASC 842 paragraph 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">e.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td></tr> </table> All leases of the Company are currently classified as financing leases. The Company recognizes a lease in the financial statement when the arrangement either explicitly or implicitly involves property, plant or equipment (“PP&E”), the contract terms are dependent on the useful life of the PP&E, and the Company have the ability or right to control the PP&E or to direct others to control the PP&E and receive the majority of the economic benefits of the assets. Financing lease liability, current, and financing lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The financing lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company applied its interest rate based on the actual incremental borrowing rate from the leasing contract that is available at lease commencement date in determining the lease interest expense. The Company’s lease terms may include options to extend or terminate the lease. Lease expenses for lease payments are recognized on a straight-line basis over the lease term, under depreciation expenses. The Company reviews the impairment of its financing lease assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of financing lease liabilities in the tested asset group and include the associated financing lease payments in the undiscounted future pre-tax cash flows. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Property and Equipment, net <p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zXJwc0QuD6Zf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 49%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 49%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zX8eLhmLLy3h" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjhdyymZkc28" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zlln5b2W6Rlg" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zHbatbE4nOc4" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zHsCbGDx5QZg" title="Property plant and equipment useful life">6 years</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of income and comprehensive income in other income or expenses. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. Deferred Offering Cost Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. As of December 31, 2022 and 2023, the Company has incurred and deferred SGD522,987 and SGD828,458 (USD 613,059) of deferred offering costs. Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets, such as property and equipment, whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. There were no impairment losses on long-lived assets for the years ended December 31, 2022 and 2023. Revenue Recognition The Company adopted the revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, starting January 1, 2020 using the modified retrospective method for contracts that were not completed as of the date of adoption. The adoption of this ASC 606 did not have a material impact on the Company’s consolidated financial statements. The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the Company satisfies a performance obligation. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements The Company enters into agreements with customers that create enforceable rights and obligations and for which it is probable that the Company will collect the consideration to which it will be entitled as services transfer to the customer. It is customary practice for the Company to have the agreements with its customers in writing. The Company recognizes revenue based on the consideration specified in the applicable agreement. Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on the Company’s consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. The Company will recognize the revenue of sales of construction material when the performance obligation is satisfied by transferring a promised good or service to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods. Revenue from service orders is recognized when the entity satisfied the performance obligation at a point in time generally as the services are provided. The contracts which the Company enters into with the clients are fixed price and provide for milestone billings based upon the attainment of specific project objectives to ensure the Company meets its contractual requirements. Additionally, contracts may include retentions or holdbacks paid at the end of a project to ensure that Company meets the contract requirements. The Company does not assess whether a contract contains a significant financing component if the Company expects, at contract inception, that the period between payment by the customers and the transfer of promised services to the customers will be less than one year. Since the Company has concluded that the promises to be delivered on the contract would be one single performance obligation, no allocation of the transaction price is required and expected. As a professional interior design and fit-out service provider, the Company recognizes revenue based on the Company’s effort or inputs to the satisfaction of a performance obligation over time as work progresses because of the continuous transfer of control to the customer and the Company’s right to bill the customer as costs are incurred. The Company’s contract with the customer has payment terms specified based upon certain conditions completed. The Company will submit monthly progress claim to the customer, and after the Company received the certified interim progress certificate, the Company will issue a tax invoice to the customer. The final tax invoice is generally issued after the project completion and agreed by customer and the Company. As the Company’s customers are required to pay the Company at different billing stages over the contract period, as such, the Company believes the progress payments limit the Company’s exposure to credit risk and that the Company would be able to collect substantially all of the consideration gradually at different stages. The timing of the satisfaction of the Company’s performance obligations is based upon the cost-to-cost measure of progress method, which is generally different than the timing of unconditional right of payment, and is based upon certain conditions completed as specified in the contract. The timing between the satisfaction of the Company’s performance obligations and the unconditional right of payment would contribute to contract assets and contract liabilities. The Company uses the ratio of actual costs incurred to total estimated costs since costs incurred (an input method) represent a reasonable measure of progress towards the satisfaction of a performance in order to estimate the portion of revenue earned. This method faithfully depicts the transfer of value to the customer when the Company is satisfying a performance obligation that entails a number of interrelated tasks or activities for a combined output that requires the Company to coordinate the work of employees and subcontractors. Contract costs typically include direct labor, subcontract and consultant costs, materials and indirect costs related to contract performance. Changes in estimated costs to complete these obligations result in adjustments to revenue on a cumulative catch-up basis, which causes the effect of revised estimates to be recognized in the current period. Changes in estimates can routinely occur over the contract term for a variety of reasons including, changes in scope, unanticipated costs, delays or favorable or unfavorable progress than original expectations. When the outcome of the contract cannot be reasonably measured, revenue is recognized only to the extent of contract costs incurred that are expected to be recovered. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements When the current estimates of the total amount of consideration expected to be received in exchange for transferring promised goods or services to the customer, and contract cost indicate a loss, a provision for the entire loss on the contract is made as soon as the loss become evident. An adjustment is also made to reflect the effects of the customer’s credit risk. The loss on a contract is reported as an additional contract cost (an operating expense), and not as a reduction of revenue or a non-operating expense. The Company’s contracts may contain variable consideration in the form of unpriced or pending change orders or claims that either increase or decrease the contract price. Variable consideration is generally estimated using the expected value method but may from time to time be estimated using the most likely amount method depending on the circumstance. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are based upon historical experience and known trends. The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2022 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zfznwsPEF7Oc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_z1MLvWdQvhli" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z0lPlsmLdt4i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Point in time</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zjPcRvCFpsY3" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z0ec0UIxJ7S2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Over time</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zHahiScusLTd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Over time">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zpXFWxtXfWL" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Total revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_z3GaS7XULUZ9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_891_eus-gaap--ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock_zEr3H05UtVv1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table presents revenue by major revenue type for the years ended December 31, 2022 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zNxJmoVPwq54" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_zEzM6LXK0Lg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zvlY3wrked4b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Revenue from construction contracts</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zQMnWg4Wq0j8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue from construction contracts">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_z3YkSshMdl0i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Sales of construction materials</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zq828Sin7hX" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Sales of construction materials">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_ziPf2POl3fni" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_zJ6sPYRxElya" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Warranty The Company generally provides limited warranties for work performed under its contracts. At the time a sale is recognized, the Company records estimated future warranty costs under ASC 460. Such estimated costs for warranties are estimated at completion and these warranties are not service warranties separately sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience or Company’s best estimate. There were no such reserves for the years ended December 31, 2022 and 2023 because the Company’s historical warranty expenses were immaterial to the Company’s consolidated financial statements. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Contract Assets and Contract Liabilities Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. Provisions for estimated losses of contract assets on uncompleted contracts are made in the period in which such losses are determined. Contract assets have billing term with unconditional right to be billed beyond one year are classified as non-current assets. Contract liabilities on uncompleted contracts represent the amounts of cash collected from clients, billings to clients on contracts in advance of work performed and revenue recognized and provisions for losses. The majority of these amounts are expected to be earned within twelve months and are classified as current liabilities. Government Subsidies Government subsidies primarily relate to multiple entitlement granted by the Singapore government pursuant to the Job Support Scheme under the Anti-epidemic Fund. The Company recognizes government subsidies as other income when they are received because they are not subject to any past or future conditions. Government subsidies received and recognized as other income totaled SGD 0 and SGD 0 for the years ended December 31, 2022 and 2023, respectively. Cost of Revenue The Company’s cost of revenue is primarily comprised of the material costs, subcontracting costs and staff costs. These costs are expenses as incurred. Borrowing Costs All borrowing costs are recognized in interest expenses in the consolidated statement of income and comprehensive income in the period in which they are incurred. Advertising Costs The Company expenses advertising costs as incurred and were included as part of selling and marketing expenses. Advertising costs for the years ended December 31, 2022 and 2023, totaled nil and SGD 650 (USD 481) respectively. Employee Benefit Plan Employees of the Company located in Singapore participate in a compulsory saving scheme (pension fund) for the retirement of residents in Singapore. Employees are required to contribute monthly to mandatory provident fund schemes provided by approved private organizations, according to their salaries and the period of employment. The Company is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. Total expenses for the plan were SGD 132,471 and SGD 133,455 (USD 98,757) for the years ended December 31, 2022 and 2023, respectively. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Income Taxes The Company accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. The Company has recognized deferred tax assets for temporary differences, operating losses and tax credit carryforwards. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. The accruals for deferred tax assets and liabilities, including deferred income tax assets and liabilities, are subject to significant judgment and are reviewed and adjusted routinely based on changes in facts and circumstances. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes”, prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2023 and 2022. The Company believes there were no uncertain tax positions at December 31, 2022 and 2023, respectively. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months. The Company is not currently under examination by an income tax authority, nor has been notified that an examination is contemplated. Earnings (Loss) per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Company by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. As of December 31, 2022 and 2023, there were no dilutive shares. Comprehensive Income Comprehensive Income (Loss) Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Commitments and Contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation. Significant Risks Currency Risk The Company’s operating activities are transacted in S$. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Company considers the foreign exchange risk in relation to transactions denominated in SGD with respect to USD is significant. Concentration and Credit Risk Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and accounts receivable. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash with financial institutions located in Singapore. As of December 31, 2022 and 2023, SGD 1,989,817 and SGD 4,482,359 (USD 3,316,946) were deposited with financial institutions located in Singapore. The Deposit Protection Scheme introduced by the Singapore Government insured each depositor at one bank for a maximum amount of SGD75,000. Otherwise, these balances are not covered by insurance. The unsecured deposited amount as of December 31, 2022 and 2023 will be SGD 1,839,817 and SGD 4,332,359 (USD 3,205,946). The Company believes that no significant credit risk exists as these financial institutions have high credit quality and the Company has not incurred any losses related to such deposits. For the credit risk related to accounts receivable, the Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company establishes an allowance for credit losses based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The management believes that its contract acceptance, billing, and collection policies are adequate to minimize material credit risk. Application for progress payment of contract works is made on a regular basis. The Company seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by the Directors. For the years ended December 31, 2022 and 2023, all of the Company’s assets were located in Singapore and all of the Company’s revenue were derived from its subsidiary located in Singapore. The Company has a concentration of its revenue and accounts receivable with specific customers and purchases and accounts payable with specific suppliers. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements For the year ended December 31, 2022, two customers accounted for approximately <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zcwZibECp5Bf" title="Concentration risk percentage">41% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zL1zYUwQJ7F2" title="Concentration risk percentage">12% of the Company’s total revenue, respectively. For the year ended December 31, 2023, four customers accounted for approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zQaEy5ntUAA3" title="Concentration risk percentage">32%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zySLSIfQWXY2" title="Concentration risk percentage">15%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zlMRyHOcGcn8" title="Concentration risk percentage">12%, and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zrCkfs9IomCk" title="Concentration risk percentage">11% of the Company’s total revenue, respectively. As of December 31, 2022, three customers’ accounts receivable accounted for approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zMU2FykjGW6d" title="Concentration risk percentage">39%, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zMuLINVd042g" title="Concentration risk percentage">23% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zj9jAngvUFOk" title="Concentration risk percentage">20% of the total accounts receivable, respectively. As of December 31, 2023, four customers’ account receivables accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zfM3cUmeDha6" title="Concentration risk percentage">34%, <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z41g2tMz6JP3" title="Concentration risk percentage">20%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zteHNBABK6l4" title="Concentration risk percentage">15% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zxFzvQWIiqCg" title="Concentration risk percentage">12% of total accounts receivable, respectively. For the year ended December 31, 2022, one supplier accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z9RdPNSnvFNd" title="Concentration risk percentage">15% of the Company’s total purchases. For the year ended December 31, 2023, none of the supplier accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zrnTnrbQr6q4" title="Concentration risk percentage">10% of the Company’s total purchases. As of December 31, 2022, two supplier’s accounts payable accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z9X5rfysHyv" title="Concentration risk percentage">30% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zJavkLoSIVXd" title="Concentration risk percentage">15%, respectively of the total accounts payable and two suppliers’ accounts payable accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zaJQSaE0YnAg" title="Concentration risk percentage">38% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zIjbdrjFT9Ee" title="Concentration risk percentage">13% of the total accounts payable as of December 31, 2023, respectively. Interest rate risk Fluctuations in market interest rates may negatively affect the Company’s financial condition and results of operations. The Company is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. The Company has not used any derivative financial instruments to manage the interest risk exposure. Recently Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements In June 2022, the FASB issued Accounting Standards Update (ASU) No. 2022-03 Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the adoption of this standard on its consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company is currently assessing the adoption of ASU 2021-04 on the consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the Accounting Standards Codification. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently assessing the adoption of ASU 2023-06 on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. 5 The other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is permitted. We are evaluating the effect this guidance will have on our tax disclosures. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in providing a full suite of construction and engineering services. The Company’s business is capital intensive. Working capital was approximately SGD 1.2 million (USD 0.9 million) as of December 31, 2023, as compared to approximately SGD 2.2 million as of December 31, 2022. As of December 31, 2023, cash in bank balance was approximately SGD 4.5 million (USD 3.3 million). In addition to cash in bank, the Company also has other current assets mainly composed of accounts receivable, and contract assets. The Company had accounts receivable of approximately SGD 3.5 million (USD 2.6 million), and contract assets of approximately SGD 5.1 million (USD 3.8 million) as of December 31, 2023, all of them are short-term in nature and can be collected back within the Company’s operating cycles to be used to support the Company’s working capital need. Although the Company believes that it can realize its current assets in the normal course of business, its ability to repay its current obligations will depend on the future realization of its current assets. Management has considered historical experience, the economic environment, trends in the construction industry, and the expected collectability of accounts receivable and contract assets as of December 31, 2023. The Company expects to realize balances net of allowance within the normal operating cycle of a twelve-month period. If the Company is unable to realize its current assets within the normal twelvemonth operating cycle, the Company may have to consider supplementing its available sources of funds through the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Financing from the Company’s officers/shareholders;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other available sources of financing from banks and other financial institutions, given the Company’s credit history;</td></tr> </table> Based on the above considerations, management is of the opinion that the Company has sufficient funds to meet its working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for its services, economic conditions, competitive pricing in the construction industry, its operating results continuing to making profit and its bank and shareholders being able to provide continued financial support. 1200000 900000 2200000

4500000

3300000

3500000

2600000

5100000

3800000

Basis of Presentation and Consolidation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiary. All intercompany transactions and balances among the Company and its subsidiary have been eliminated upon consolidation. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Significant estimates required to be made by management, include, but are not limited to, the allowance for credit loss, the determination of the useful lives of property and equipment, impairment of long-lived assets, allowance for deferred tax assets, uncertain tax position, right-of-use assets, financing lease liabilities, revenue recognition and contingencies. Actual results could differ from those estimates.

Foreign Currency Translation and transaction The Company uses Singapore Dollars (“SGD”) as its reporting currency. The functional currency of the Company in Cayman and British Virgin Island is U.S. dollar and the subsidiary which incorporate in Singapore is Singapore Dollars which are their respective local currencies based on the criteria of ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange in place at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the consolidated statement of income and comprehensive income. Assets and liabilities of the Company translated from their respective functional currencies to the reporting currency at the exchange rates at the balance sheet dates, equity accounts are translated at historical exchange rates and revenues and expenses are translated at the average exchange rates in effect during the reporting period. The resulting foreign currency translation adjustment are recorded in other comprehensive income.

Convenience translation Translations of balances in the consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows from SGD into USD as of and for the year ended December 31, 2023 are solely for the convenience of the reader and were calculated at the rate of SGD 1.00 to USD 0.74, representing the noon buying rate in The City of New York for cable transfers of SGD as certified for customs purposes by the Federal Reserve Bank of New York on the last trading day of December 29, 2023. No representation is made that the SGD amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate.

1.00

0.74

Fair Value of Financial Instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepayments and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets and liabilities.</td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 2 - </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 3 -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.</td></tr> </table> The Company considers the carrying amount of its financial assets and liabilities, which consist primarily of accounts receivable, contract assets, prepayments and other current assets, accounts payable, contract liabilities, income taxes payable, due to related parties, accrued expenses and other current liabilities approximate the fair value of the respective assets and liabilities as of December 31, 2022 and 2023 due to their short-term nature.

<p id="xdx_840_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zhFzFKhCvEwk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Cash and Restricted Cash Cash includes cash on hand and demand deposits in accounts maintained with commercial banks that can be added or withdrawn without limitation and have original maturities of less than three months. The Company maintains the bank accounts in Singapore. Cash balances in bank accounts in Singapore with maximum amount of SGD 75,000 are insured under the Deposit Protection Scheme introduced by the Singapore Government. Cash balances in bank accounts in Singapore are not otherwise insured by the Federal Deposit Insurance Corporation or other programs. Restricted cash consisted of deposit which is required to be withheld in the bank by the Company to compensate the customer in case of breach of contract.

75000

Accounts Receivable, net Accounts receivable are recognized and carried at original invoiced amount. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including accounts receivable. The Company adopted ASC Topic 326 using the modified retrospective method in scope of the standard. Results for reporting periods beginning after January 1, 2023 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, the Company recorded nil allowance for credit losses. The Company uses simplified flow rate matrix approach to estimate expected credit losses for the accounts receivable. The allowance for credit losses is estimated for accounts receivable that share similar risk characteristics based on a collective assessment using a combination of measurement models and management judgment. The approach considers factors including historical ageing schedule and forward-looking macroeconomic conditions.

Prepayments Prepayments represent advance payments made to the service providers for future services. Prepayments are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the realizability of the prepayments becomes doubtful. As of December 31, 2022 and 2023, there was no allowance recorded as the Company considers all of the prepayments fully realizable. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Other receivables – related parties Other receivables - related parties represent amounts owed to a company by its related parties. Related parties can include affiliated companies, parent companies, subsidiaries, directors, officers, or shareholders. The Company considers the assets to be impaired if the realizability of the receivables becomes doubtful. From January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including Other receivables – related parties. Upon adoption, the Company recorded nil allowance for credit losses.

Lease On January 1, 2020, the Company adopted ASU 2016-02 Leases (Topic 842) (“Topic 842”) issued by the FASB, using the modified retrospective transition method and elected the transition option to use an effective date of January 1, 2020 as the date of initial application. The adoption of Topic 842 resulted in the presentation of financing lease on the consolidated balance sheet. The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. The Company classifies a lease as a finance lease when the lease meets any of the following criteria at lease commencement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">c.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The lease term is for the major part of the remaining economic life of the underlying asset;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments in accordance with ASC 842 paragraph 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">e.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td></tr> </table> All leases of the Company are currently classified as financing leases. The Company recognizes a lease in the financial statement when the arrangement either explicitly or implicitly involves property, plant or equipment (“PP&E”), the contract terms are dependent on the useful life of the PP&E, and the Company have the ability or right to control the PP&E or to direct others to control the PP&E and receive the majority of the economic benefits of the assets. Financing lease liability, current, and financing lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The financing lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company applied its interest rate based on the actual incremental borrowing rate from the leasing contract that is available at lease commencement date in determining the lease interest expense. The Company’s lease terms may include options to extend or terminate the lease. Lease expenses for lease payments are recognized on a straight-line basis over the lease term, under depreciation expenses. The Company reviews the impairment of its financing lease assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of financing lease liabilities in the tested asset group and include the associated financing lease payments in the undiscounted future pre-tax cash flows. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

Property and Equipment, net <p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zXJwc0QuD6Zf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 49%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 49%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zX8eLhmLLy3h" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjhdyymZkc28" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zlln5b2W6Rlg" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zHbatbE4nOc4" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zHsCbGDx5QZg" title="Property plant and equipment useful life">6 years</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of income and comprehensive income in other income or expenses. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.

<p id="xdx_898_ecustom--PropertyPlantAndEquipmentStraightLineBasisOverTheEstimatedUsefulLivesTextBlock_zXJwc0QuD6Zf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Property and equipment are stated at cost, net of accumulated depreciation. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Schedule of Property Plant and Equipment Net of Accumulated Depreciation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 49%; text-align: justify">Building </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 49%; text-align: right">50 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Land </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zX8eLhmLLy3h" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember">Indefinite </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Renovation </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">8 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Furniture and fixtures </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjhdyymZkc28" title="Furniture and fixtures">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Motor vehicles </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Electronic equipment </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zlln5b2W6Rlg" title="Electronic equipment">1 – <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zHbatbE4nOc4" title="Electronic equipment">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Machinery </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: justify">Forklift </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: right"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zHsCbGDx5QZg" title="Property plant and equipment useful life">6 years</td></tr> </table>

P50Y

P8Y

P10Y

P5Y

P1Y

P3Y

P5Y

P6Y

Deferred Offering Cost Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. As of December 31, 2022 and 2023, the Company has incurred and deferred SGD522,987 and SGD828,458 (USD 613,059) of deferred offering costs.

522987

828458

613059

Impairment of Long-Lived Assets The Company reviews the recoverability of its long-lived assets, such as property and equipment, whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. There were no impairment losses on long-lived assets for the years ended December 31, 2022 and 2023.

Revenue Recognition The Company adopted the revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, starting January 1, 2020 using the modified retrospective method for contracts that were not completed as of the date of adoption. The adoption of this ASC 606 did not have a material impact on the Company’s consolidated financial statements. The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the Company satisfies a performance obligation. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements The Company enters into agreements with customers that create enforceable rights and obligations and for which it is probable that the Company will collect the consideration to which it will be entitled as services transfer to the customer. It is customary practice for the Company to have the agreements with its customers in writing. The Company recognizes revenue based on the consideration specified in the applicable agreement. Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on the Company’s consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. The Company will recognize the revenue of sales of construction material when the performance obligation is satisfied by transferring a promised good or service to the customer. Control of the goods is transferred to the customer, generally on delivery of the goods. Revenue from service orders is recognized when the entity satisfied the performance obligation at a point in time generally as the services are provided. The contracts which the Company enters into with the clients are fixed price and provide for milestone billings based upon the attainment of specific project objectives to ensure the Company meets its contractual requirements. Additionally, contracts may include retentions or holdbacks paid at the end of a project to ensure that Company meets the contract requirements. The Company does not assess whether a contract contains a significant financing component if the Company expects, at contract inception, that the period between payment by the customers and the transfer of promised services to the customers will be less than one year. Since the Company has concluded that the promises to be delivered on the contract would be one single performance obligation, no allocation of the transaction price is required and expected. As a professional interior design and fit-out service provider, the Company recognizes revenue based on the Company’s effort or inputs to the satisfaction of a performance obligation over time as work progresses because of the continuous transfer of control to the customer and the Company’s right to bill the customer as costs are incurred. The Company’s contract with the customer has payment terms specified based upon certain conditions completed. The Company will submit monthly progress claim to the customer, and after the Company received the certified interim progress certificate, the Company will issue a tax invoice to the customer. The final tax invoice is generally issued after the project completion and agreed by customer and the Company. As the Company’s customers are required to pay the Company at different billing stages over the contract period, as such, the Company believes the progress payments limit the Company’s exposure to credit risk and that the Company would be able to collect substantially all of the consideration gradually at different stages. The timing of the satisfaction of the Company’s performance obligations is based upon the cost-to-cost measure of progress method, which is generally different than the timing of unconditional right of payment, and is based upon certain conditions completed as specified in the contract. The timing between the satisfaction of the Company’s performance obligations and the unconditional right of payment would contribute to contract assets and contract liabilities. The Company uses the ratio of actual costs incurred to total estimated costs since costs incurred (an input method) represent a reasonable measure of progress towards the satisfaction of a performance in order to estimate the portion of revenue earned. This method faithfully depicts the transfer of value to the customer when the Company is satisfying a performance obligation that entails a number of interrelated tasks or activities for a combined output that requires the Company to coordinate the work of employees and subcontractors. Contract costs typically include direct labor, subcontract and consultant costs, materials and indirect costs related to contract performance. Changes in estimated costs to complete these obligations result in adjustments to revenue on a cumulative catch-up basis, which causes the effect of revised estimates to be recognized in the current period. Changes in estimates can routinely occur over the contract term for a variety of reasons including, changes in scope, unanticipated costs, delays or favorable or unfavorable progress than original expectations. When the outcome of the contract cannot be reasonably measured, revenue is recognized only to the extent of contract costs incurred that are expected to be recovered. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements When the current estimates of the total amount of consideration expected to be received in exchange for transferring promised goods or services to the customer, and contract cost indicate a loss, a provision for the entire loss on the contract is made as soon as the loss become evident. An adjustment is also made to reflect the effects of the customer’s credit risk. The loss on a contract is reported as an additional contract cost (an operating expense), and not as a reduction of revenue or a non-operating expense. The Company’s contracts may contain variable consideration in the form of unpriced or pending change orders or claims that either increase or decrease the contract price. Variable consideration is generally estimated using the expected value method but may from time to time be estimated using the most likely amount method depending on the circumstance. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are based upon historical experience and known trends. The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2022 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zfznwsPEF7Oc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_z1MLvWdQvhli" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z0lPlsmLdt4i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Point in time</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zjPcRvCFpsY3" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z0ec0UIxJ7S2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Over time</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zHahiScusLTd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Over time">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zpXFWxtXfWL" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Total revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_z3GaS7XULUZ9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_891_eus-gaap--ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock_zEr3H05UtVv1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table presents revenue by major revenue type for the years ended December 31, 2022 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zNxJmoVPwq54" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_zEzM6LXK0Lg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zvlY3wrked4b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Revenue from construction contracts</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zQMnWg4Wq0j8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue from construction contracts">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_z3YkSshMdl0i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Sales of construction materials</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zq828Sin7hX" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Sales of construction materials">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_ziPf2POl3fni" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_zJ6sPYRxElya" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Warranty The Company generally provides limited warranties for work performed under its contracts. At the time a sale is recognized, the Company records estimated future warranty costs under ASC 460. Such estimated costs for warranties are estimated at completion and these warranties are not service warranties separately sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience or Company’s best estimate. There were no such reserves for the years ended December 31, 2022 and 2023 because the Company’s historical warranty expenses were immaterial to the Company’s consolidated financial statements. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Contract Assets and Contract Liabilities Projects with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. Provisions for estimated losses of contract assets on uncompleted contracts are made in the period in which such losses are determined. Contract assets have billing term with unconditional right to be billed beyond one year are classified as non-current assets. Contract liabilities on uncompleted contracts represent the amounts of cash collected from clients, billings to clients on contracts in advance of work performed and revenue recognized and provisions for losses. The majority of these amounts are expected to be earned within twelve months and are classified as current liabilities.

The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2022 and 2023, respectively: Schedule of Timing of Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zfznwsPEF7Oc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_z1MLvWdQvhli" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z0lPlsmLdt4i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Point in time</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zjPcRvCFpsY3" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z0ec0UIxJ7S2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Over time</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zHahiScusLTd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Over time">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_zpXFWxtXfWL" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Total revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_z3GaS7XULUZ9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

57618

4701

3479

16766550

21805616

16136155

16824168

21810317

16139634

<p id="xdx_891_eus-gaap--ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock_zEr3H05UtVv1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table presents revenue by major revenue type for the years ended December 31, 2022 and 2023, respectively: Schedule of Major Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20220101__20221231_zNxJmoVPwq54" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20230101__20231231_zEzM6LXK0Lg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zvlY3wrked4b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: justify">Revenue from construction contracts</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,766,550</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">21,805,616</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--RevenueFromConstructionContractsMember_zQMnWg4Wq0j8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Revenue from construction contracts">16,136,155</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_z3YkSshMdl0i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Sales of construction materials</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57,618</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,701</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_uUSD_c20230101__20231231__srt--ProductOrServiceAxis__custom--SaleOfConstructionConstructionMaterialsMember_zq828Sin7hX" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Sales of construction materials">3,479</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_ziPf2POl3fni" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">16,824,168</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,810,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_pp0p0_uUSD_c20230101__20231231_zJ6sPYRxElya" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">16,139,634</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

16766550

21805616

16136155

57618

4701

3479

16824168

21810317

16139634

Government Subsidies Government subsidies primarily relate to multiple entitlement granted by the Singapore government pursuant to the Job Support Scheme under the Anti-epidemic Fund. The Company recognizes government subsidies as other income when they are received because they are not subject to any past or future conditions. Government subsidies received and recognized as other income totaled SGD 0 and SGD 0 for the years ended December 31, 2022 and 2023, respectively.

Cost of Revenue The Company’s cost of revenue is primarily comprised of the material costs, subcontracting costs and staff costs. These costs are expenses as incurred.

Borrowing Costs All borrowing costs are recognized in interest expenses in the consolidated statement of income and comprehensive income in the period in which they are incurred.

Advertising Costs The Company expenses advertising costs as incurred and were included as part of selling and marketing expenses. Advertising costs for the years ended December 31, 2022 and 2023, totaled nil and SGD 650 (USD 481) respectively.

650

481

Employee Benefit Plan Employees of the Company located in Singapore participate in a compulsory saving scheme (pension fund) for the retirement of residents in Singapore. Employees are required to contribute monthly to mandatory provident fund schemes provided by approved private organizations, according to their salaries and the period of employment. The Company is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. Total expenses for the plan were SGD 132,471 and SGD 133,455 (USD 98,757) for the years ended December 31, 2022 and 2023, respectively. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

132471

133455

98757

Income Taxes The Company accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. The Company has recognized deferred tax assets for temporary differences, operating losses and tax credit carryforwards. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. The accruals for deferred tax assets and liabilities, including deferred income tax assets and liabilities, are subject to significant judgment and are reviewed and adjusted routinely based on changes in facts and circumstances. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes”, prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2023 and 2022. The Company believes there were no uncertain tax positions at December 31, 2022 and 2023, respectively. The Company does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months. The Company is not currently under examination by an income tax authority, nor has been notified that an examination is contemplated.

Earnings (Loss) per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Company by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. As of December 31, 2022 and 2023, there were no dilutive shares.

Comprehensive Income Comprehensive Income (Loss) Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

Commitments and Contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.

Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.

Significant Risks Currency Risk The Company’s operating activities are transacted in S$. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Company considers the foreign exchange risk in relation to transactions denominated in SGD with respect to USD is significant. Concentration and Credit Risk Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and accounts receivable. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash with financial institutions located in Singapore. As of December 31, 2022 and 2023, SGD 1,989,817 and SGD 4,482,359 (USD 3,316,946) were deposited with financial institutions located in Singapore. The Deposit Protection Scheme introduced by the Singapore Government insured each depositor at one bank for a maximum amount of SGD75,000. Otherwise, these balances are not covered by insurance. The unsecured deposited amount as of December 31, 2022 and 2023 will be SGD 1,839,817 and SGD 4,332,359 (USD 3,205,946). The Company believes that no significant credit risk exists as these financial institutions have high credit quality and the Company has not incurred any losses related to such deposits. For the credit risk related to accounts receivable, the Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company establishes an allowance for credit losses based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The management believes that its contract acceptance, billing, and collection policies are adequate to minimize material credit risk. Application for progress payment of contract works is made on a regular basis. The Company seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by the Directors. For the years ended December 31, 2022 and 2023, all of the Company’s assets were located in Singapore and all of the Company’s revenue were derived from its subsidiary located in Singapore. The Company has a concentration of its revenue and accounts receivable with specific customers and purchases and accounts payable with specific suppliers. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements For the year ended December 31, 2022, two customers accounted for approximately <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zcwZibECp5Bf" title="Concentration risk percentage">41% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zL1zYUwQJ7F2" title="Concentration risk percentage">12% of the Company’s total revenue, respectively. For the year ended December 31, 2023, four customers accounted for approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zQaEy5ntUAA3" title="Concentration risk percentage">32%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zySLSIfQWXY2" title="Concentration risk percentage">15%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zlMRyHOcGcn8" title="Concentration risk percentage">12%, and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zrCkfs9IomCk" title="Concentration risk percentage">11% of the Company’s total revenue, respectively. As of December 31, 2022, three customers’ accounts receivable accounted for approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zMU2FykjGW6d" title="Concentration risk percentage">39%, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zMuLINVd042g" title="Concentration risk percentage">23% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zj9jAngvUFOk" title="Concentration risk percentage">20% of the total accounts receivable, respectively. As of December 31, 2023, four customers’ account receivables accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zfM3cUmeDha6" title="Concentration risk percentage">34%, <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z41g2tMz6JP3" title="Concentration risk percentage">20%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zteHNBABK6l4" title="Concentration risk percentage">15% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFourMember_zxFzvQWIiqCg" title="Concentration risk percentage">12% of total accounts receivable, respectively. For the year ended December 31, 2022, one supplier accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z9RdPNSnvFNd" title="Concentration risk percentage">15% of the Company’s total purchases. For the year ended December 31, 2023, none of the supplier accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zrnTnrbQr6q4" title="Concentration risk percentage">10% of the Company’s total purchases. As of December 31, 2022, two supplier’s accounts payable accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_z9X5rfysHyv" title="Concentration risk percentage">30% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zJavkLoSIVXd" title="Concentration risk percentage">15%, respectively of the total accounts payable and two suppliers’ accounts payable accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zaJQSaE0YnAg" title="Concentration risk percentage">38% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zIjbdrjFT9Ee" title="Concentration risk percentage">13% of the total accounts payable as of December 31, 2023, respectively. Interest rate risk Fluctuations in market interest rates may negatively affect the Company’s financial condition and results of operations. The Company is exposed to floating interest rate risk on cash deposit and floating rate borrowings, and the risks due to changes in interest rates is not material. The Company has not used any derivative financial instruments to manage the interest risk exposure.

1989817

4482359

3316946

75000 1839817 4332359 3205946

0.41

0.12

0.32

0.15

0.12

0.11

0.39

0.23

0.20

0.34

0.20

0.15

0.12

0.15

0.10

0.30

0.15

0.38

0.13

Recently Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements In June 2022, the FASB issued Accounting Standards Update (ASU) No. 2022-03 Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the adoption of this standard on its consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company is currently assessing the adoption of ASU 2021-04 on the consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This standard was issued in response to the SEC’s disclosure update and simplification initiative, which affects a variety of topics within the Accounting Standards Codification. The amendments apply to all reporting entities within the scope of the affected topics unless otherwise indicated. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently assessing the adoption of ASU 2023-06 on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. 5 The other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is permitted. We are evaluating the effect this guidance will have on our tax disclosures. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

3. Accounts Receivable, net <p id="xdx_896_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zAGx0M7f6Tzh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Accounts receivable, net consisted of the following as of December 31: Schedule of Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20221231_zBb7L2wvi5lg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20231231_zC3hXIGbokV5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableGrossCurrent_iI_znQkfQPINLcg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Accounts receivable</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">3,422,136</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">3,535,071</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--AccountsReceivableGrossCurrent_iI_uUSD_c20231231_zJxwIXhysT9e" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable">2,615,953</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_zoHnSL47O0hc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_uUSD_c20231231_z25Dh4bAuGvl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: allowance for credit loss">(4,566</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--AccountsReceivableNetCurrent_i02I_maACzcbq_zxpwc6xdiCk5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivable, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,415,966</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,528,901</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsReceivableNetCurrent_iI_uUSD_c20231231_ziifO5ykIxyb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accounts receivable, net">2,611,387</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Movement of the allowance for accounts receivable were as follows: Schedule of Allowance for Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zflx5WGtAP8l" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zfhm1SB9fmSf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_zNOtWmmiTND3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uUSD_c20230101__20231231_zBIlBeIbJHHh" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">4,566</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td></tr> <tr id="xdx_405_ecustom--AllowanceForDoubtfulAccountsReceivableAddition_iI_zETe3VyePbY1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Addition</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,750</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAddition_uUSD_c20230101__20231231_zrJe5liFBBq3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">2,035</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AllowanceForDoubtfulAccountsReceivableWriteOff_iI_zyxKLM6jWBFg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Write-off</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,750</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForDoubtfulAccountsReceivableWriteOff_uUSD_c20230101__20231231_z9rVdiDf2LV3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write off">(2,035</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_zyk9jHRV53O7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uUSD_c20230101__20231231_zdMxKr2qkDkl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">4,566</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

<p id="xdx_896_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zAGx0M7f6Tzh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Accounts receivable, net consisted of the following as of December 31: Schedule of Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20221231_zBb7L2wvi5lg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20231231_zC3hXIGbokV5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableGrossCurrent_iI_znQkfQPINLcg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Accounts receivable</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">3,422,136</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">3,535,071</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--AccountsReceivableGrossCurrent_iI_uUSD_c20231231_zJxwIXhysT9e" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable">2,615,953</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_zoHnSL47O0hc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_uUSD_c20231231_z25Dh4bAuGvl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: allowance for credit loss">(4,566</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--AccountsReceivableNetCurrent_i02I_maACzcbq_zxpwc6xdiCk5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivable, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,415,966</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,528,901</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsReceivableNetCurrent_iI_uUSD_c20231231_ziifO5ykIxyb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accounts receivable, net">2,611,387</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

3422136

3535071

2615953

6170

4566

3415966

3528901

2611387

Movement of the allowance for accounts receivable were as follows: Schedule of Allowance for Accounts Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zflx5WGtAP8l" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zfhm1SB9fmSf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_zNOtWmmiTND3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uUSD_c20230101__20231231_zBIlBeIbJHHh" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">4,566</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td></tr> <tr id="xdx_405_ecustom--AllowanceForDoubtfulAccountsReceivableAddition_iI_zETe3VyePbY1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Addition</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,750</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--AllowanceForDoubtfulAccountsReceivableAddition_uUSD_c20230101__20231231_zrJe5liFBBq3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">2,035</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AllowanceForDoubtfulAccountsReceivableWriteOff_iI_zyxKLM6jWBFg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Write-off</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,750</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForDoubtfulAccountsReceivableWriteOff_uUSD_c20230101__20231231_z9rVdiDf2LV3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write off">(2,035</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_zyk9jHRV53O7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,170</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uUSD_c20230101__20231231_zdMxKr2qkDkl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">4,566</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"></td></tr> </table>

6170

4566

2750 2035 -2750 -2035

6170

4566

4. Contract Assets/(Liabilities) Contract assets that have billing terms with unconditional rights to be billed beyond one year are classified as non-current assets. Contract assets consisted of the following at December 31: Schedule of Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20221231_zIb8SswfoEyd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20231231_zOkiIzcxXYpk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerAssetRevenueRecognizedToDate_iI_zSI9eGvMxAce" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Revenue recognized to date</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">21,137,410</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">26,612,224</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iI_pp0p0_uUSD_c20231231_zLLPvqARYXXe" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Progress billings to date">19,693,046</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ContractWithCustomerAssetLessProgressBillingsToDate_iNI_di_zlu49VT8gvC1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Progress billings to date</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(14,113,469</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(21,105,331</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--ContractWithCustomerAssetRevenueRecognized_iNI_pp0p0_di_uUSD_c20231231_zqrtC0ccFhVd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Revenue recognized to date">(15,617,945</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_di_zGPYBJifi6hl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Credit losses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(396,528</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_pp0p0_di_uUSD_c20231231_zVNQX2Myjuhi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Credit losses">(293,431</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ContractWithCustomerAssetNet_iI_zCz9glMiWuVj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,023,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">5,110,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractWithCustomerAssetNet_iI_pp0p0_uUSD_c20231231_z4dmFMTwmNSh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Contract assets">3,781,670</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_zUEROByFI4L3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets, current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,023,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,110,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pp0p0_uUSD_c20231231_z2gNHM29SWt6" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Contract assets, current">3,781,670</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_891_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossTableTextBlock_zFFjYbS7peqc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Movement of the allowance for contract assets were as follows: Schedule of Allowance for Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_498_20220101__20221231_zC3n3FFEmRX" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zkfpZXAoBBY7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_z8HLsYU1TTfl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_pp0p0_uUSD_c20230101__20231231_z04doQn0MSwf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_znDyUh0Y9sGc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Addition</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">396,528</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_pp0p0_uUSD_c20230101__20231231_z7MVQgF5bbh7" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Addition">293,431</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_di_zwgJnUMEhqN" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Write-off</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(396,528</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_pp0p0_di_uUSD_c20230101__20231231_zGVmWbIa2OPd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off">(293,431</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_ztAHOrLN2ncl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_pp0p0_uUSD_c20230101__20231231_zrXGUMYqpPT5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Contract liabilities consisted of the following at December 31: Schedule of Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zzhBAUfZWZgh" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zzqyd6HDDdEh" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_zSC8QEIKJQrl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Billings in advance of performance obligation under contracts</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">1,482,957</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zhR1nWzTtIm7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Billings in advance of performance obligation under contracts">1,097,388</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table> Contract liabilities related to contracts are balances due to customers under contracts. These arise if a particular milestone payment exceeds the revenue recognized to date under the cost-to-cost method. <p id="xdx_899_ecustom--ContractWithCustomerLiabilitiesAllowanceForCreditLossTableTextBlock_z35oWCIqUFqd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The movement in contract liabilities is as follows at December 31: Schedule of Movement in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zvfqEsHr9Knk" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20230101__20231231_z0RYx7wacuvf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iS_zkfiCh2Wia7c" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Balance at beginning of the period</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">804,103</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ContractWithCustomerLiability_iS_pp0p0_uUSD_c20230101__20231231_zpz9QWIDO5gd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Balance at beginning of the period">314,746</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_zz88jlHQWbp5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(570,951</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(418,432</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zC2qRWnAB4Yd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year">(309,639</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_zSxFmiR6nlek" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Increase in contract liabilities as a result of billings in advance of performance obligation under contracts</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">192,180</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,057</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zgWVLltFSYF8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in contract liabilities as a result of billings in advance of performance obligation under contracts">1,092,281</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iE_zAiayoRMqsEc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Balance at end of the period</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,482,957</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerLiability_iE_pp0p0_uUSD_c20230101__20231231_zTa1pLSv3vs2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at end of the period">1,097,388</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

Contract assets consisted of the following at December 31: Schedule of Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20221231_zIb8SswfoEyd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20231231_zOkiIzcxXYpk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_ecustom--ContractWithCustomerAssetRevenueRecognizedToDate_iI_zSI9eGvMxAce" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Revenue recognized to date</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">21,137,410</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">26,612,224</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--ContractWithCustomerAssetProgressBillingsToDate_iI_pp0p0_uUSD_c20231231_zLLPvqARYXXe" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Progress billings to date">19,693,046</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ContractWithCustomerAssetLessProgressBillingsToDate_iNI_di_zlu49VT8gvC1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Progress billings to date</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(14,113,469</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(21,105,331</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--ContractWithCustomerAssetRevenueRecognized_iNI_pp0p0_di_uUSD_c20231231_zqrtC0ccFhVd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Revenue recognized to date">(15,617,945</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_di_zGPYBJifi6hl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Credit losses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(396,528</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent_iNI_pp0p0_di_uUSD_c20231231_zVNQX2Myjuhi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Credit losses">(293,431</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ContractWithCustomerAssetNet_iI_zCz9glMiWuVj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,023,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">5,110,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractWithCustomerAssetNet_iI_pp0p0_uUSD_c20231231_z4dmFMTwmNSh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Contract assets">3,781,670</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_zUEROByFI4L3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets, current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,023,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,110,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pp0p0_uUSD_c20231231_z2gNHM29SWt6" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Contract assets, current">3,781,670</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

21137410 26612224 19693046 14113469 21105331 15617945

396528

293431

7023941

5110365

3781670

7023941

5110365

3781670

<p id="xdx_891_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossTableTextBlock_zFFjYbS7peqc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Movement of the allowance for contract assets were as follows: Schedule of Allowance for Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_498_20220101__20221231_zC3n3FFEmRX" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zkfpZXAoBBY7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_z8HLsYU1TTfl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iS_pp0p0_uUSD_c20230101__20231231_z04doQn0MSwf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_znDyUh0Y9sGc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Addition</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">396,528</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--ContractWithCustomerAssetAllowanceForCreditLossAddition_pp0p0_uUSD_c20230101__20231231_z7MVQgF5bbh7" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Addition">293,431</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_di_zwgJnUMEhqN" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Write-off</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(396,528</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ContractWithCustomerAssetAllowanceForCreditLossWriteoff_iN_pp0p0_di_uUSD_c20230101__20231231_zGVmWbIa2OPd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Write-off">(293,431</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_ztAHOrLN2ncl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss_iE_pp0p0_uUSD_c20230101__20231231_zrXGUMYqpPT5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

396528 293431

396528

293431

Contract liabilities consisted of the following at December 31: Schedule of Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zzhBAUfZWZgh" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20231231_zzqyd6HDDdEh" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_zSC8QEIKJQrl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Billings in advance of performance obligation under contracts</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">1,482,957</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zhR1nWzTtIm7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Billings in advance of performance obligation under contracts">1,097,388</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table>

425332

1482957

1097388

<p id="xdx_899_ecustom--ContractWithCustomerLiabilitiesAllowanceForCreditLossTableTextBlock_z35oWCIqUFqd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The movement in contract liabilities is as follows at December 31: Schedule of Movement in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20220101__20221231_zvfqEsHr9Knk" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20230101__20231231_z0RYx7wacuvf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerLiability_iS_zkfiCh2Wia7c" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Balance at beginning of the period</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">804,103</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ContractWithCustomerLiability_iS_pp0p0_uUSD_c20230101__20231231_zpz9QWIDO5gd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Balance at beginning of the period">314,746</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_zz88jlHQWbp5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(570,951</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(418,432</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zC2qRWnAB4Yd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year">(309,639</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_zSxFmiR6nlek" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Increase in contract liabilities as a result of billings in advance of performance obligation under contracts</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">192,180</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,057</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_ecustom--IncreaseInContractWithCustomerLiabilityRevenueRecognized_pp0p0_uUSD_c20230101__20231231_zgWVLltFSYF8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in contract liabilities as a result of billings in advance of performance obligation under contracts">1,092,281</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iE_zAiayoRMqsEc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Balance at end of the period</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">425,332</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,482,957</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerLiability_iE_pp0p0_uUSD_c20230101__20231231_zTa1pLSv3vs2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at end of the period">1,097,388</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

804103

425332

314746

-570951

-418432

-309639

192180 1476057 1092281

425332

1482957

1097388

5. Prepayments and Other Current Assets Prepayments and other current assets consisted of the following at December 31: Schedule of Prepayments and Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20221231_zIglYp5OFKw4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20231231_ztAFxz1HQeWe" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz6an_zU0omD4M0B9f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Other deposits</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">91,735</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">78,164</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_uUSD_c20231231_zIZyX0ytcTWl" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other deposits">57,841</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6an_zWRK9gOweDph" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Prepayments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">20,293</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">36,916</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PrepaidExpenseCurrent_iI_pp0p0_uUSD_c20231231_zjxQzjOJPl87" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepayments">27,318</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz6an_zo4SAsGdzjVk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepayment and other current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">112,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">115,080</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_uUSD_c20231231_zsVF2XCY9WVb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepayment and other current assets">85,159</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

Prepayments and other current assets consisted of the following at December 31: Schedule of Prepayments and Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20221231_zIglYp5OFKw4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20231231_ztAFxz1HQeWe" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz6an_zU0omD4M0B9f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Other deposits</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">91,735</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">78,164</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_uUSD_c20231231_zIZyX0ytcTWl" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other deposits">57,841</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6an_zWRK9gOweDph" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Prepayments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">20,293</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">36,916</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PrepaidExpenseCurrent_iI_pp0p0_uUSD_c20231231_zjxQzjOJPl87" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepayments">27,318</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz6an_zo4SAsGdzjVk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepayment and other current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">112,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">115,080</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_uUSD_c20231231_zsVF2XCY9WVb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepayment and other current assets">85,159</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

91735

78164

57841

20293

36916

27318

112028

115080

85159

6. Property, plant and equipment Property and equipment, stated at cost less accumulated depreciation and amortization, consisted of the following at December 31: Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20221231_zUEnHCN7DC2a" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20231231_zUEnTPQJJsac" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zNxN3PQKtjZ5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Building and land</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">5,119,699</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">5,119,699</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zNVMmB8u2SW8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Property plant and equipment">3,788,577</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zdVLDJjxvPN8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture and fixtures</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,053</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,053</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zV1bDdvw8DG1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">2,999</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zb7nsgtWTKt5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Motor vehicles</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">602,110</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">602,111</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zybZ169kMUU2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">445,562</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_z1JdLfgcXQ6f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Electronic equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">179,543</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">182,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zgr7L1Jkh3v4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">135,272</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zl6Zqk0iDrk9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Machinery</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">33,993</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">33,993</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zLrAPGEjGcYi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">25,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zFM3MIGo5Evc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Renovation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">47,360</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">47,360</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zslHT4IuZtp5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">35,046</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zIbwkWuUjV2i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Forklift</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zGFYI3vrFq61" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">51,060</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzJeD_zivxURah1jGb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Subtotal</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,055,758</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,059,016</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231_zst9UBB24bm1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">4,483,671</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzJeD_zEXeEoKCm2R8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,204,955</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,366,667</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20231231_z95DbS6RRm" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: accumulated depreciation and amortization">(1,751,333</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzJeD_z38utIEeJPq5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and Equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,850,803</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,692,349</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20231231_ze1cFFApZo9i" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property and Equipment, net">2,732,338</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Depreciation expenses of property and equipment totaled SGD146,709 and SGD161,712(USD 119,667) for the years ended December 31, 2022 and 2023, respectively.

Property and equipment, stated at cost less accumulated depreciation and amortization, consisted of the following at December 31: Schedule of Property, Plant and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20221231_zUEnHCN7DC2a" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20231231_zUEnTPQJJsac" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zNxN3PQKtjZ5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Building and land</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">5,119,699</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">5,119,699</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandAndBuildingMember_zNVMmB8u2SW8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Property plant and equipment">3,788,577</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zdVLDJjxvPN8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture and fixtures</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,053</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,053</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zV1bDdvw8DG1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">2,999</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zb7nsgtWTKt5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Motor vehicles</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">602,110</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">602,111</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zybZ169kMUU2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">445,562</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_z1JdLfgcXQ6f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Electronic equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">179,543</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">182,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zgr7L1Jkh3v4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">135,272</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zl6Zqk0iDrk9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Machinery</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">33,993</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">33,993</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherMachineryAndEquipmentMember_zLrAPGEjGcYi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">25,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zFM3MIGo5Evc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Renovation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">47,360</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">47,360</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zslHT4IuZtp5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">35,046</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zIbwkWuUjV2i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Forklift</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ForkliftMember_zGFYI3vrFq61" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">51,060</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzJeD_zivxURah1jGb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Subtotal</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,055,758</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,059,016</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231_zst9UBB24bm1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property plant and equipment">4,483,671</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzJeD_zEXeEoKCm2R8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,204,955</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,366,667</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20231231_z95DbS6RRm" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: accumulated depreciation and amortization">(1,751,333</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzJeD_z38utIEeJPq5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and Equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,850,803</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,692,349</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20231231_ze1cFFApZo9i" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Property and Equipment, net">2,732,338</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

5119699

3788577

4053

2999

602110

602111

445562

179543

182800

135272

33993

25155

47360

35046

69000

51060

6055758

6059016

4483671

2204955

2366667

1751333

3850803

3692349

2732338

146709

161712

119667

7. Investment under equity method Components of investment under equity method are as follows at December 31: Schedule of Investment Under Equity Method <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20221231_zXzkfwGuZDAi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20231231_zo7aWX9V6pf6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--EquityMethodInvestmentAggregateCost_iI_zHIoOUbPqCqe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Cost of investment in joint venture</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">101,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">101,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentAggregateCost_iI_pp0p0_uUSD_c20231231_zvDDS0myNK81" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Cost of investment in joint venture">74,740</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_di_zo5VVrQ92Yp7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated share of losses in joint venture</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(101,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(101,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_pp0p0_di_uUSD_c20231231_z8vmW009Lrl1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accumulated share of losses in joint venture">(74,740</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EquityMethodInvestments_iI_zzbzRVWTHXqk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestments_iI_pp0p0_uUSD_c20231231_zWCMvJ4l33" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

Components of investment under equity method are as follows at December 31: Schedule of Investment Under Equity Method <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20221231_zXzkfwGuZDAi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20231231_zo7aWX9V6pf6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--EquityMethodInvestmentAggregateCost_iI_zHIoOUbPqCqe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Cost of investment in joint venture</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">101,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">101,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentAggregateCost_iI_pp0p0_uUSD_c20231231_zvDDS0myNK81" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Cost of investment in joint venture">74,740</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_di_zo5VVrQ92Yp7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated share of losses in joint venture</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(101,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(101,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_ecustom--EquityMethodInvestmentGainLossOnDisposal_iNI_pp0p0_di_uUSD_c20231231_z8vmW009Lrl1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accumulated share of losses in joint venture">(74,740</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EquityMethodInvestments_iI_zzbzRVWTHXqk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestments_iI_pp0p0_uUSD_c20231231_zWCMvJ4l33" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

101000

74740

101000 101000 74740

8. Leases Financing leases as lessee As of December 31, 2022 and 2023, the Company has financing leases with the financial institutions on its consolidated balance sheets for hire purchase of motor vehicle. The following table shows financing lease liabilities from the financial institutions, and the associated financial statement line items as follows at December 31: Schedule of Finance Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20221231_z4NcWJozlb6d" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20231231_z92Jxw44gRo" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zwiMfgPZBX9i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Financing lease liabilities current</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,680</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,680</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20231231_zpSkOQb6aOh4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Financing lease liabilities current">12,343</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zF70R3cmEGhg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing lease liabilities non-current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20231231_zu6mDGr8qclf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease liabilities non-current">8,229</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> As of December 31, 2022 and 2023, leased assets which are included in the “Property, plant and equipment” of the consolidated balance sheet of following at December 31: Schedule of Finance Lease Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20221231_z4um9AigVBwf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20231231_znGR3Rn0xshf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_maPPAEAzdKu_zGEA5JHSwRz6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Motor vehicles at cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">132,508</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">128,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zD2PQApiuBwg" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Motor vehicles at cost">94,720</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_msPPAEAzdKu_zWo8RmqPIMda" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Accumulated depreciation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(64,421</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(87,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zlAYYGAmKM37" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Accumulated depreciation">(64,725</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_mtPPAEAzdKu_zy84sTvKG0gc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Motor vehicles, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">68,087</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">40,533</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_z2JJQWBc9Had" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Motor vehicles, net">29,995</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Information relating to financing lease activities during the years ended December 31, 2022 and 2023 are as follows: Schedule of Financing Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20220101__20221231_zTHbr29DNvb2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zmjdVzy9FgG7" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left">Financing lease expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseDepreciation_maFLCzBd9_zszipfRZTBx1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Depreciation</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">26,502</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">25,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--FinanceLeaseDepreciation_pp0p0_uUSD_c20230101__20231231_zV52pGWBDaUi" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Depreciation">18,944</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_maFLCzBd9_zDILnhhNhzGa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,942</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,920</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseInterestExpense_pp0p0_uUSD_c20230101__20231231_zVgtePsRZTpa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest of lease liabilities">1,421</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--FinanceLeaseCost_iT_mtFLCzBd9_zxMXUiTCnt24" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total financing lease expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">28,444</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,520</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseCost_iT_pp0p0_uUSD_c20230101__20231231_zI0cW5emK201" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total financing lease expenses">20,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49C_20231231_zeLKIXvJ9U6e" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">For the year ending December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDzd7x_z1pvoohSvohe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20231231_zBA2QQxM9wW3" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="2024">13,764</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDzd7x_zzyRtSbOC0hb" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Year one</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20231231_zvMaKgvoG0j3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year one">13,764</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDzd7x_zHMzBiGtDH12" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_uUSD_c20231231_zgBVVhIFJ67" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="2025">9,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDzd7x_z87dOZznZobd" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Year two</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_uUSD_c20231231_zy1G2drsXHU5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">9,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7x_zjs5TEYBWLC3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,908</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20231231_zA5XEqpqPata" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total lease payments">22,872</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zBS1oiU6V5ci" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(3,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20231231_ztISTqPKhoAl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: imputed interest">(2,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iTI_ziyzqrmx77O7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiability_iTI_pp0p0_uUSD_c20231231_zvflyDoRBMTc" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">20,572</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements

The following table shows financing lease liabilities from the financial institutions, and the associated financial statement line items as follows at December 31: Schedule of Finance Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20221231_z4NcWJozlb6d" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20231231_z92Jxw44gRo" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zwiMfgPZBX9i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Financing lease liabilities current</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,680</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">16,680</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_uUSD_c20231231_zpSkOQb6aOh4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Financing lease liabilities current">12,343</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zF70R3cmEGhg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing lease liabilities non-current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_uUSD_c20231231_zu6mDGr8qclf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease liabilities non-current">8,229</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

16680

12343

27800

11120

8229

As of December 31, 2022 and 2023, leased assets which are included in the “Property, plant and equipment” of the consolidated balance sheet of following at December 31: Schedule of Finance Lease Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20221231_z4um9AigVBwf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20231231_znGR3Rn0xshf" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_maPPAEAzdKu_zGEA5JHSwRz6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Motor vehicles at cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">132,508</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">128,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zD2PQApiuBwg" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Motor vehicles at cost">94,720</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_msPPAEAzdKu_zWo8RmqPIMda" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Accumulated depreciation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(64,421</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(87,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_zlAYYGAmKM37" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Accumulated depreciation">(64,725</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_hus-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_mtPPAEAzdKu_zy84sTvKG0gc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Motor vehicles, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">68,087</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">40,533</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_uUSD_c20231231__us-gaap--LeaseContractualTermAxis__custom--FinanceLeaseMember_z2JJQWBc9Had" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Motor vehicles, net">29,995</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

132508

128000

94720

64421

87467

64725

68087

40533

29995

Information relating to financing lease activities during the years ended December 31, 2022 and 2023 are as follows: Schedule of Financing Lease Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20220101__20221231_zTHbr29DNvb2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zmjdVzy9FgG7" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left">Financing lease expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseDepreciation_maFLCzBd9_zszipfRZTBx1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Depreciation</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">26,502</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">25,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--FinanceLeaseDepreciation_pp0p0_uUSD_c20230101__20231231_zV52pGWBDaUi" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Depreciation">18,944</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_maFLCzBd9_zDILnhhNhzGa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,942</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,920</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseInterestExpense_pp0p0_uUSD_c20230101__20231231_zVgtePsRZTpa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest of lease liabilities">1,421</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--FinanceLeaseCost_iT_mtFLCzBd9_zxMXUiTCnt24" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total financing lease expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">28,444</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,520</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseCost_iT_pp0p0_uUSD_c20230101__20231231_zI0cW5emK201" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total financing lease expenses">20,365</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

26502 25600 18944

1942

1920

1421

28444 27520 20365

Maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49C_20231231_zeLKIXvJ9U6e" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">For the year ending December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDzd7x_z1pvoohSvohe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20231231_zBA2QQxM9wW3" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="2024">13,764</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDzd7x_zzyRtSbOC0hb" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Year one</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_uUSD_c20231231_zvMaKgvoG0j3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year one">13,764</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDzd7x_zHMzBiGtDH12" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_uUSD_c20231231_zgBVVhIFJ67" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="2025">9,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDzd7x_z87dOZznZobd" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Year two</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_uUSD_c20231231_zy1G2drsXHU5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">9,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDzd7x_zjs5TEYBWLC3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,908</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_uUSD_c20231231_zA5XEqpqPata" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total lease payments">22,872</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zBS1oiU6V5ci" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(3,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_uUSD_c20231231_ztISTqPKhoAl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: imputed interest">(2,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iTI_ziyzqrmx77O7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,800</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiability_iTI_pp0p0_uUSD_c20231231_zvflyDoRBMTc" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">20,572</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

18600

13764

18600

13764

12308

9108

12308

9108

30908

22872

3108

2300

27800

20572

9. Accrued Expenses and Other Current Liabilities Components of accrued expenses and other current liabilities are as follows at December 31: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20221231_ztn5zPauRtFe" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20231231_zOUpoCPiUWMj" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzOmN_z0DLRdCUYkG2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Accruals for operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">475,510</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">547,661</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--AccrualsForOperatingExpenses_iI_pp0p0_uUSD_c20231231_zKlb73bK2Bud" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accruals for operating expenses">405,269</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilities_iI_maALAOLzOmN_zxOUnuK0Ltd6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Retention payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">45,423</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">45,423</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AccruedRetentionPayable_iI_pp0p0_uUSD_c20231231_zHsIEuBWZL4h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Retention payable">33,613</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_maALAOLzOmN_zwdNklWkvVdg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">17,713</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">42,711</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_pp0p0_uUSD_c20231231_zGNppOlvFxg2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other payables">31,606</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzOmN_zAm1ihAcvQq8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">538,646</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">635,795</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pp0p0_uUSD_c20231231_zWOZ8jrrpOAa" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">470,488</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

Components of accrued expenses and other current liabilities are as follows at December 31: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20221231_ztn5zPauRtFe" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49B_20231231_zOUpoCPiUWMj" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzOmN_z0DLRdCUYkG2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Accruals for operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">475,510</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">547,661</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--AccrualsForOperatingExpenses_iI_pp0p0_uUSD_c20231231_zKlb73bK2Bud" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accruals for operating expenses">405,269</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherLiabilities_iI_maALAOLzOmN_zxOUnuK0Ltd6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Retention payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">45,423</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">45,423</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AccruedRetentionPayable_iI_pp0p0_uUSD_c20231231_zHsIEuBWZL4h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Retention payable">33,613</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_maALAOLzOmN_zwdNklWkvVdg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other payables</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">17,713</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">42,711</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_pp0p0_uUSD_c20231231_zGNppOlvFxg2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other payables">31,606</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzOmN_zAm1ihAcvQq8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">538,646</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">635,795</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pp0p0_uUSD_c20231231_zWOZ8jrrpOAa" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">470,488</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

475510

547661

405269

45423

33613

17713

42711

31606

538646

635795

470488

10. Bank Borrowings Components of bank borrowings are as follows at December 31: Schedule of Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest rate</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 39%; text-align: left">UOB – Loan 1 (Property)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MinimumMember_fKDEp_zQWuClHDxRVj" title="Interest rate">1.98-<span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MaximumMember_fKDEp_zx4qAjsYRyn6" title="Interest rate">4.95%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zYrkBx81ybRi" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">457,120</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zmY7YYC53OMc" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">351,004</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zCJ6JH10QkU2" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">259,742</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">UOB – Loan 2 (Bridging Loan)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.25</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zBUgOLYJnCG8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,091,258</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zzVx5sJcSQ2f" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,408,486</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zS7C0ptC9y1h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,042,280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Trust Receipt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MinimumMember_fKDMp_zQQl6OVRgBng" title="Interest rate">5.98-<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MaximumMember_fKDMp_z4Jqs3SKTZ0c" title="Interest rate">7.00%</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zwo1aLD9chsb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">295,986</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zf4loZsgUGEc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">578,806</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zkuGSLcZGQ83" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">428,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20221231_zDcY7wWGx4ic" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,844,364</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20231231_zogKlkiEOsEh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,338,296</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iI_uUSD_c20231231_zVkHajTCIV8g" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,730,339</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20221231_z0cWNykaLZp9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,150,176</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20231231_zlq2ous068x3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,447,966</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LoansPayableToBankCurrent_iNI_di_uUSD_c20231231_zzb5xyQAMGG3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,071,495</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20221231_z0QMVgkfzHP4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">1,694,188</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20231231_zJsjdroXLyj8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">890,330</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermLoansFromBank_iI_uUSD_c20221231_z7G1nxtl39B" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">658,844</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at 1.68% for the per period from August 4, 2020 to August 3, 2022, 1.98% for the period from August 4, 2022 to August 3, 2023, and at 6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be 1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at 2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of December 31, 2023 the SORA rate is 3.75%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at 2.25%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif">Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MinimumMember_zgU968YjILfg" title="Interest rate">5.15%-<span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MaximumMember_zxcQQXpZvRta" title="Interest rate">6.27% depend on the date of execution. All trust receipts matured no later than March 31,2024. As of May 31, 2024, the Company incurred new trust receipts with amount of S$481,622, and part of the S$268,046 was matured in May 23, 2024. The remaining balance will mature in July 2024.</td></tr> </table> Interest expenses pertaining to the above bank borrowings for the years ended December 31, 2022 and 2023 amounted to SGD 81,333 and SGD 75,184 (USD 55,636), respectively. Components of bank borrowings interest are as follows as of December 31: Schedule of Bank Borrowings Interest <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">UOB – Loan 1 (Property)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zUHp6PInlnl" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">9,389</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zsqUt8S2wSK7" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">13,602</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zDfBQyaM5xR1" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">10,065</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">UOB – Loan 2 (Bridging Loan)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_z8RQRWEG1gtb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">55,982</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zV3udeft4dXh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">36,793</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_znj4Amhjsgeh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">27,227</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Trust Receipt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_z8M7q88vVR26" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">15,962</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zPmqL196pl8l" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">24,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zvnd7nksqxpd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">18,344</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231_zSThmjLtv6R1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">81,333</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231_zQ0HepOmQO0k" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">75,184</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231_zAqyajaQQ3X4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">55,636</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Maturities of the bank borrowings were as follows: Schedule of Maturities Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">For the year ending December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uSGD_c20231231_zdZF8LwMfyL3" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Year one">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uUSD_c20231231_zkBjjjWhY87g" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Year one">1,100,084</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uSGD_c20231231_zYGIsNzZVMdc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">776,816</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uUSD_c20231231_zSaNmxcAwye7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">574,844</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_uSGD_c20231231_zajwSldsbrEf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year three">122,760</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_uUSD_c20231231_z6hTQXPdiiUl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year three">90,842</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_uSGD_c20231231_zn69JrUlblF" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year four">11,743</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_uUSD_c20231231_zvtFKgx4j052" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year four">8,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total bank borrowings repayments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebt_iI_uSGD_c20231231_z3ZuYz3YqSni" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total bank borrowings repayments">2,397,919</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebt_iI_uUSD_c20231231_zAxnBb0uUC1i" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total bank borrowings repayments">1,774,460</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtCurrent_iI_uSGD_c20231231_zJBgHUHoyLkg" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtCurrent_iI_uUSD_c20231231_z5pSgLy8SDIa" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,100,084</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtNoncurrent_iI_uSGD_c20231231_z2AvZ1o3Uzr" style="font: 10pt Times New Roman, Times, Serif; text-align: right">911,319</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtNoncurrent_iI_uUSD_c20231231_z7fYeSxlewB9" style="font: 10pt Times New Roman, Times, Serif; text-align: right">674,376</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--LessImputedInterest_iI_uSGD_c20231231_z7gKSnvLfhUa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Imputed interest">(59,623</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--LessImputedInterest_iI_uUSD_c20231231_zcIhbTacfGd5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Imputed interest">(44,121</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iTI_uSGD_c20231231_z0s3fcQQNhj5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">2,338,296</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayable_iTI_uUSD_c20231231_zmDVwcWH4mc3" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">1,730,339</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

Components of bank borrowings are as follows at December 31: Schedule of Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest rate</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 39%; text-align: left">UOB – Loan 1 (Property)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MinimumMember_fKDEp_zQWuClHDxRVj" title="Interest rate">1.98-<span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember__srt--RangeAxis__srt--MaximumMember_fKDEp_zx4qAjsYRyn6" title="Interest rate">4.95%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zYrkBx81ybRi" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">457,120</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zmY7YYC53OMc" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">351,004</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_fKDEp_zCJ6JH10QkU2" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings">259,742</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">UOB – Loan 2 (Bridging Loan)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.25</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zBUgOLYJnCG8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,091,258</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zzVx5sJcSQ2f" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,408,486</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_fKDIp_zS7C0ptC9y1h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,042,280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Trust Receipt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MinimumMember_fKDMp_zQQl6OVRgBng" title="Interest rate">5.98-<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember__srt--RangeAxis__srt--MaximumMember_fKDMp_z4Jqs3SKTZ0c" title="Interest rate">7.00%</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zwo1aLD9chsb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">295,986</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayable_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zf4loZsgUGEc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">578,806</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--LoansPayable_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_fKDMp_zkuGSLcZGQ83" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">428,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayable_iI_uSGD_c20221231_zDcY7wWGx4ic" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,844,364</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayable_iI_uSGD_c20231231_zogKlkiEOsEh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">2,338,296</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iI_uUSD_c20231231_zVkHajTCIV8g" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Bank borrowings">1,730,339</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20221231_z0cWNykaLZp9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,150,176</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LoansPayableToBankCurrent_iNI_di_uSGD_c20231231_zlq2ous068x3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,447,966</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LoansPayableToBankCurrent_iNI_di_uUSD_c20231231_zzb5xyQAMGG3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="long term current">(1,071,495</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20221231_z0QMVgkfzHP4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">1,694,188</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermLoansFromBank_iI_uSGD_c20231231_zJsjdroXLyj8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">890,330</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermLoansFromBank_iI_uUSD_c20221231_z7G1nxtl39B" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long-term bank borrowings">658,844</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at 1.68% for the per period from August 4, 2020 to August 3, 2022, 1.98% for the period from August 4, 2022 to August 3, 2023, and at 6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be 1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at 2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of December 31, 2023 the SORA rate is 3.75%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at 2.25%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif">Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MinimumMember_zgU968YjILfg" title="Interest rate">5.15%-<span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--BankFacilitiesMember__srt--RangeAxis__srt--MaximumMember_zxcQQXpZvRta" title="Interest rate">6.27% depend on the date of execution. All trust receipts matured no later than March 31,2024. As of May 31, 2024, the Company incurred new trust receipts with amount of S$481,622, and part of the S$268,046 was matured in May 23, 2024. The remaining balance will mature in July 2024.</td></tr> </table>

0.0198

0.0495

457120

351004

259742

0.0225

2091258

1408486

1042280

0.0598

0.0700

295986

578806

428317

2844364

2338296

1730339

1150176

1447966

1071495

1694188

890330

658844

0.0168

0.0198

0.0625

0.0120

0.0200

0.0375

0.0225

0.0515

0.0627

481622

268046

81333

75184

55636

Components of bank borrowings interest are as follows as of December 31: Schedule of Bank Borrowings Interest <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">UOB – Loan 1 (Property)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zUHp6PInlnl" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">9,389</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zsqUt8S2wSK7" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">13,602</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--PropertyLoanMember_zDfBQyaM5xR1" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Interest expense">10,065</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">UOB – Loan 2 (Bridging Loan)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_z8RQRWEG1gtb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">55,982</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_zV3udeft4dXh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">36,793</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--BridgingLoanMember_znj4Amhjsgeh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">27,227</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Trust Receipt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_z8M7q88vVR26" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">15,962</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zPmqL196pl8l" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">24,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231__us-gaap--DebtInstrumentAxis__custom--TrustReceiptMember_zvnd7nksqxpd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">18,344</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20221231_zSThmjLtv6R1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">81,333</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uSGD_c20231231_zQ0HepOmQO0k" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">75,184</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherShortTermBorrowings_iI_uUSD_c20231231_zAqyajaQQ3X4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">55,636</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

9389

13602

10065

55982

36793

27227

15962

24789

18344

81333

75184

55636

Maturities of the bank borrowings were as follows: Schedule of Maturities Bank Borrowings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">For the year ending December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uSGD_c20231231_zdZF8LwMfyL3" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Year one">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_uUSD_c20231231_zkBjjjWhY87g" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Year one">1,100,084</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uSGD_c20231231_zYGIsNzZVMdc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">776,816</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_uUSD_c20231231_zSaNmxcAwye7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year two">574,844</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_uSGD_c20231231_zajwSldsbrEf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year three">122,760</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_uUSD_c20231231_z6hTQXPdiiUl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year three">90,842</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_uSGD_c20231231_zn69JrUlblF" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year four">11,743</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_uUSD_c20231231_zvtFKgx4j052" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Year four">8,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total bank borrowings repayments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebt_iI_uSGD_c20231231_z3ZuYz3YqSni" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total bank borrowings repayments">2,397,919</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebt_iI_uUSD_c20231231_zAxnBb0uUC1i" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total bank borrowings repayments">1,774,460</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtCurrent_iI_uSGD_c20231231_zJBgHUHoyLkg" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtCurrent_iI_uUSD_c20231231_z5pSgLy8SDIa" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,100,084</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current portion of long-term bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtNoncurrent_iI_uSGD_c20231231_z2AvZ1o3Uzr" style="font: 10pt Times New Roman, Times, Serif; text-align: right">911,319</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtNoncurrent_iI_uUSD_c20231231_z7fYeSxlewB9" style="font: 10pt Times New Roman, Times, Serif; text-align: right">674,376</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--LessImputedInterest_iI_uSGD_c20231231_z7gKSnvLfhUa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Imputed interest">(59,623</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--LessImputedInterest_iI_uUSD_c20231231_zcIhbTacfGd5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Imputed interest">(44,121</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LoansPayable_iTI_uSGD_c20231231_z0s3fcQQNhj5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">2,338,296</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LoansPayable_iTI_uUSD_c20231231_zmDVwcWH4mc3" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">1,730,339</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

1486600

1100084

776816

574844

122760

90842

11743

8690

2397919

1774460

1486600

1100084

911319

674376

-59623 -44121

2338296

1730339

11. Income Taxes Cayman Islands and British Virgin Islands Under the current laws of the Cayman Islands and the British Virgin Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends by the Company to its shareholders, no Cayman Islands and BVI withholding tax will be imposed. Singapore In accordance with the relevant tax laws and regulations of Singapore, a company registered in Singapore is subject to income taxes at a flat rate of 17%. Schedule of Relevant Tax Laws and Regulations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the years ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income before provision for income taxes is attributable to the following geographic locations:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Singapore</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231__srt--StatementGeographicalAxis__country--SG_zuh7NMuPdb6g" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231__srt--StatementGeographicalAxis__country--SG_zDRYo31s7VWj" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231__srt--StatementGeographicalAxis__country--SG_z6aIlqkc6nS6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Foreign</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231__srt--StatementGeographicalAxis__custom--ForeignMember_zmfwmvHVgZN2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231__srt--StatementGeographicalAxis__custom--ForeignMember_z7ydWaggiMFh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231__srt--StatementGeographicalAxis__custom--ForeignMember_zFgutrxm1L45" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total income before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20220101__20221231_zkEDWSwBy16e" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20230101__20231231_z9EHXMTQi2qi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uUSD_c20230101__20231231_zgtFUXgY4UD1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> <p id="xdx_89F_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zURYHEqikhMa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table reconciles Singapore statutory rates to the Company’s effective tax: Schedule of Reconciles Singapore Statutory Rates <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the years ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Profit before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231_zaaH2BYSWvrb" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231_z44RD8G3qI96" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231_zCu628B1kIic" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Singapore statutory income tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20220101__20221231_zpGPZ6CgdGL9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20231231_zVHNN37vN674" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20231231_zbsN3zEf1k8d" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-deductible depreciation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20220101__20221231_zUSeHX3dQrE3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20231231_zDDxtOgPaZW6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">-70</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20231231_zSJruhqlLyS8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">-70</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-deductible professional fees</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20220101__20221231_zVhAFjX4keu7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">62</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20231231_zbm0BuNd0HAc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">-467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20231231_zrW7j9gbYj0k" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">-467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other non-deductible expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20220101__20221231_zv6QYeX2tZyi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20231231_zBXnAndlobY4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">-39</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20231231_zCcCdGQ6ePdj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">-39</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tax rebate and exemption</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20220101__20221231_zzudKJrGdQPb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">-26</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_c20230101__20231231_zrmlBULLYnK3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">673</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_c20230101__20231231_zRlbkhyrQyW1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">673</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Effective tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20220101__20221231_zRptgTvOtre4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">67</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zRUNYf0kR7Xh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zQ9JHxtCVrsb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> The Company measures deferred tax assets and liabilities based on the difference between the financial statement and tax bases of assets and liabilities at the applicable tax rates. Components of the Company’s deferred tax asset and liability are as follows: Deferred tax assets as of December 31, Schedule of Deferred tax Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Bad debt provision</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20221231_zIPSbLCtYIPf" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">276,791</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20231231_zFuJev3OFg92" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">270,556</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxBadDebtProvision_iI_uUSD_c20231231_zqyyPfjl5jO" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">200,212</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20221231_zoQEcYN5Fbw5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">7,562</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20231231_zTvRxvszc1ad" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">4,726</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxLeaseLiabilities_iI_uUSD_c20231231_zWbnJLieqqX6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">3,497</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total deferred tax assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20221231_zuMIkmvlnSOb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">284,353</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20231231_zebmsJhyRFDi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">275,282</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20231231_zYQWPDoyBZrj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">203,709</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Right-of-use assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20221231_zms69WzRNTq6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(11,575</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20231231_zpY4qvqHEnK4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(7,069</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uUSD_c20231231_ztzwGWik1lv5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(5,231</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total deferred tax liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20221231_zQJCK8eCV6p8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(11,575</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20231231_zlLG3dMP8pIl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(7,069</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxLiabilities_iNI_di_uUSD_c20231231_zRTS262sRYNk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(5,231</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net deferred tax asset:</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20221231_z2f6sUswVnuj" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">272,778</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20231231_zl7onqQ8JOn1" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">268,213</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uUSD_c20231231_zqbJgLa6xDPd" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">198,478</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2022 and 2023, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income taxes for the years ended December 31, 2022 and 2023. The Company also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2023. The tax years ended December 31, 2019 through 2022 for the Group’s subsidiary in the Singapore is generally subject to examination by the Singapore tax authorities.

In accordance with the relevant tax laws and regulations of Singapore, a company registered in Singapore is subject to income taxes at a flat rate of 17%. Schedule of Relevant Tax Laws and Regulations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the years ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income before provision for income taxes is attributable to the following geographic locations:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%">Singapore</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231__srt--StatementGeographicalAxis__country--SG_zuh7NMuPdb6g" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231__srt--StatementGeographicalAxis__country--SG_zDRYo31s7VWj" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231__srt--StatementGeographicalAxis__country--SG_z6aIlqkc6nS6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Total income before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Foreign</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231__srt--StatementGeographicalAxis__custom--ForeignMember_zmfwmvHVgZN2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231__srt--StatementGeographicalAxis__custom--ForeignMember_z7ydWaggiMFh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231__srt--StatementGeographicalAxis__custom--ForeignMember_zFgutrxm1L45" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total income before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20220101__20221231_zkEDWSwBy16e" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uSGD_c20230101__20231231_z9EHXMTQi2qi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_uUSD_c20230101__20231231_zgtFUXgY4UD1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total income before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table>

210917

-33313

-24651

210917

-33313

-24651

<p id="xdx_89F_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zURYHEqikhMa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The following table reconciles Singapore statutory rates to the Company’s effective tax: Schedule of Reconciles Singapore Statutory Rates <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the years ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Profit before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20220101__20221231_zaaH2BYSWvrb" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">210,917</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uSGD_c20230101__20231231_z44RD8G3qI96" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">(33,313</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_uUSD_c20230101__20231231_zCu628B1kIic" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Profit before income taxes">(24,651</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Singapore statutory income tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20220101__20221231_zpGPZ6CgdGL9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20231231_zVHNN37vN674" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_c20230101__20231231_zbsN3zEf1k8d" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Singapore statutory income tax rate">17</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-deductible depreciation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20220101__20221231_zUSeHX3dQrE3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20231231_zDDxtOgPaZW6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">-70</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20230101__20231231_zSJruhqlLyS8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible depreciation">-70</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-deductible professional fees</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20220101__20221231_zVhAFjX4keu7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">62</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20231231_zbm0BuNd0HAc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">-467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_dp_c20230101__20231231_zrW7j9gbYj0k" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-deductible professional fees">-467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other non-deductible expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20220101__20221231_zv6QYeX2tZyi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20231231_zBXnAndlobY4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">-39</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_dp_c20230101__20231231_zCcCdGQ6ePdj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other non-deductible expenses">-39</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tax rebate and exemption</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_dp_c20220101__20221231_zzudKJrGdQPb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">-26</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_c20230101__20231231_zrmlBULLYnK3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">673</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxExemptIncome_c20230101__20231231_zRlbkhyrQyW1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Tax rebate and exemption">673</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Effective tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20220101__20221231_zRptgTvOtre4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">67</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zRUNYf0kR7Xh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20231231_zQ9JHxtCVrsb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective tax rate">114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

210917

-33313

-24651

0.17

0.09

-0.70

0.62

-4.67

0.05

-0.39

-0.26

673

0.67

1.14

Deferred tax assets as of December 31, Schedule of Deferred tax Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023 USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Bad debt provision</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20221231_zIPSbLCtYIPf" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">276,791</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxBadDebtProvision_iI_uSGD_c20231231_zFuJev3OFg92" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">270,556</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxBadDebtProvision_iI_uUSD_c20231231_zqyyPfjl5jO" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Bad debt provision">200,212</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20221231_zoQEcYN5Fbw5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">7,562</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--DeferredTaxLeaseLiabilities_iI_uSGD_c20231231_zTvRxvszc1ad" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">4,726</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxLeaseLiabilities_iI_uUSD_c20231231_zWbnJLieqqX6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Lease liabilities">3,497</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total deferred tax assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20221231_zuMIkmvlnSOb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">284,353</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsNet_iI_uSGD_c20231231_zebmsJhyRFDi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">275,282</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20231231_zYQWPDoyBZrj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax assets">203,709</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Right-of-use assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20221231_zms69WzRNTq6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(11,575</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uSGD_c20231231_zpY4qvqHEnK4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(7,069</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxRightOfUseAssets_iNI_di_uUSD_c20231231_ztzwGWik1lv5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Right-of-use assets">(5,231</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total deferred tax liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20221231_zQJCK8eCV6p8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(11,575</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredTaxLiabilities_iNI_di_uSGD_c20231231_zlLG3dMP8pIl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(7,069</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxLiabilities_iNI_di_uUSD_c20231231_zRTS262sRYNk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total deferred tax liabilities">(5,231</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net deferred tax asset:</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20221231_z2f6sUswVnuj" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">272,778</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uSGD_c20231231_zl7onqQ8JOn1" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">268,213</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_uUSD_c20231231_zqbJgLa6xDPd" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Net deferred tax asset">198,478</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

276791 270556 200212 7562 4726 3497

284353

275282

203709

11575 7069 5231

11575

7069

5231

272778

268213

198478

12. Related Party Balance and Transactions The following is a list of related parties which the Company has transactions with: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fine Build-Ninefold Group Construction Company (Private) Limited</td></tr> </table> A Joint-Venture (JV) incorporated in Sri Lanka in year 2017 to bid a local project, FBS SG holding 30% shares of the JV. The Company started transferring the share to 3rd party in late 2019, however due to Covid-19 pandemic, the share transfer is still pending for the local secretary to execute. Currently, FineBuild only supply material to the JV. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif">54 Pandan Road Pte Ltd</td></tr> </table> A related company under common control with FBS SG as Mr. Kelvin Ang (also known as Poh Guan Ang) acts as the sole director in this company. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(c)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fastfix Systems Pte Ltd</td></tr> </table> A related company under common control with FBS SG as Mr. Kelvin Ang acts as the sole director in this company. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px">(d)</td> <td style="font: 10pt Times New Roman, Times, Serif">Kelvin Ang</td></tr> </table> Present sole director and shareholder of FBS Global Limited. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px">(e)</td> <td style="font: 10pt Times New Roman, Times, Serif">Ang Poh Hwee</td></tr> </table> Project director of FBS Global Limited. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 48px">a.</td> <td style="font: 10pt Times New Roman, Times, Serif">Accounts receivable – related party</td></tr> </table> <p id="xdx_899_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHjzFUoTUxhh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As of December 31, 2022 and 2023, the balances of Accounts receivable – related party were as follows: Schedule of Accounts Receivable Related Party and Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Accounts receivable – related party</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCzCIc8oRlHj" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUppb1k0Ri3b" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">971,780</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zugN8oBtzNHg" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">719,117</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUJG7UisvYAe" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(990,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zZ9F89Ahs1P3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(971,780</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zb4b6iqpbwbl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(719,117</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zphGhhdQsCU5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zRbNR0i0YvVl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccountsReceivableNet_iTI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zy0zxjWFxZe1" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Movement of the allowance for credit loss were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkI2QN4vtIA5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">970,573</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zK5wK8hevzWk" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zszyEkRQJ3ea" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">733,296</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Addition</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uSGD_c20220101__20221231_zMSRUYLFZYma" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">20,368</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uSGD_c20230101__20231231_zFc54Lnmg6z8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uUSD_c20230101__20231231_zyrhuGP9vsB5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Exchange rate effect</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrxnf8AThXk1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zJzA1thD4qdf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(19,161</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUW7Ac3QLaye" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(14,179</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zA1pYgsFSU98" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zSwyGy4xL0ud" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">971,780</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zcyU9QCX4Gz6" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">719,117</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">b.</td> <td style="font: 10pt Times New Roman, Times, Serif">Other receivables – related parties</td></tr> </table> <p id="xdx_897_ecustom--ScheduleOfOtherReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztwEXattQS3c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As of December 31, 2022 and 2023, the balances of other receivables-related parties were as follows: Schedule of Other Receivable Related Party Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Other receivables – related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td id="xdx_F2C_zv3Ej7XtMxa5" style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_z6SMIThGeNd6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zCWXQlqUXgC5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">575,200</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherReceivablesGrossCurrent_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zsT0ncuU8S69" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">425,648</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F20_zBtkrxIfjJdh" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20221231_fKDMp_zE48MwKWiyEd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(586,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20231231_fKDMp_zjvkkeKxYkoc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(575,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uUSD_c20231231_fKDMp_zPuMyhxzorGl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(425,648</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">54 Pandan Road Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F28_zt5SF7Toed5b" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zGeTvQVGgCVl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zwpfbXYV5BRh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">212,794</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_z2ldbJS89TXa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">157,468</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Ang Poh Hwee</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F2E_z4gtTXgRuMa4" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(4)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zA7r1hRLQN92" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zFX4LmCaxJq4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">30,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zwKgzXOmzpH9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">22,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7dkcTHiYBh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zQnAx1ST19Td" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">242,794</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyFCLjoswoLf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">179,668</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Movement of the allowance for credit loss were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrKBBTL2lA1l" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">589,638</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zbOv5ZqtHmyd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zGMUQtAk2vpk" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">434,041</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Exchange rate effect</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zg5qQlwNwoIe" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(3,096</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyEF6ZB8Axbd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(11,342</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFQbwzauccYh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(8,393</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkywDOTQETz4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z4h3asgLyzOh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">575,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z3ig6pnotegb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">425,648</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 85%; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F0F_zBmVfCJkeWh4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td id="xdx_F16_zV4NqA3bfpa9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date of this report, the Company has collected back all the loan from 54 Pandan Road Pte Ltd.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F02_zJ0xKxqwtu39" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td id="xdx_F13_z3BTKLgnXzKd" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Management service provided to the Joint Venture company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F08_ztEZHJ3Lvf2l" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(4)</td> <td id="xdx_F1D_zBW5khDqxx4d" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">c.</td> <td style="font: 10pt Times New Roman, Times, Serif">Due to related parties</td></tr> </table> As of December 31, 2022 and 2023, the balances of amount due to related parties were as follows: Schedule of Due to Related Parties and Related Party Transactions <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Due to related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Kelvin Ang</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zhsy6WgKxIga" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">150,426</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zSlGP7OzgAG7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">83,388</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherLiabilitiesCurrent_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zwkpEUHrjU98" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">61,707</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z8WNI7g9NTl5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">150,426</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0K1dcMWjJI2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">83,388</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNzvenxLiAA9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">61,707</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif">Related party transactions</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Supply construction material</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--SupplyConstructionMaterial_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FineBuildNinefoldGroupConstructionCompanyPrivateLimitedMember_zv47ZMv2qCM8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Supply construction material">25,633</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">54 Pandan Road Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Rental of warehouse</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_z4G9RQjfQXfc" style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Fastfixs Systems Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Consultation fee</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zO2x3jlcceo6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Consultation fee">138,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ProfessionalFees_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zKDTWFQ9Mszl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Consultation fee">102,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Supply of labors</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zGhOlaljEqV7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Supply of labors">43,004</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zLi9ThEJuGmj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Supply of labors">31,823</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">e.</td> <td style="font: 10pt Times New Roman, Times, Serif">Commitments</td></tr> </table> On November 25, 2020, the Company guaranteed a 5 year commercial loan SGD <span id="xdx_909_eus-gaap--MortgageLoansOnRealEstateCommercialAndConsumerNet_iI_uSGD_c20201125__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemsPteLtdMember_zUpYaLfu4Smd" title="Commercial loan">200,000 from UOB Bank to Fastfixs Systems Pte Ltd, a related party. The interest rate is fixed at <span id="xdx_90E_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_dp_uPure_c20201125__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemsPteLtdMember_ziQH2YoL9mH4" title="Interest rate percentage">2.25% per annum and Fastfixs Systems Pte Ltd shall repay the loan over 60 monthly installments with the interest. The Company also guaranteed a SGD <span id="xdx_90E_eus-gaap--MortgageLoansOnRealEstateCommercialAndConsumerNet_iI_uSGD_c20221031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PandanRoadPteLtdMember_zuj1pwI2mDEg" title="Commercial loan">7,400,000 10 year commercial loan on October 31, 2022, in the form of Letter of Credit from UOB Bank to 54 Pandan Road Pte Ltd, a related party. The Letter of Credit has been fully drawn down as of the date of this report.

<p id="xdx_899_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHjzFUoTUxhh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As of December 31, 2022 and 2023, the balances of Accounts receivable – related party were as follows: Schedule of Accounts Receivable Related Party and Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Accounts receivable – related party</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zCzCIc8oRlHj" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUppb1k0Ri3b" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">971,780</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AccountsReceivableGross_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zugN8oBtzNHg" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Accounts receivable related party">719,117</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUJG7UisvYAe" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(990,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zZ9F89Ahs1P3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(971,780</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_di_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zb4b6iqpbwbl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(719,117</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zphGhhdQsCU5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccountsReceivableNet_iTI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zRbNR0i0YvVl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccountsReceivableNet_iTI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zy0zxjWFxZe1" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements Movement of the allowance for credit loss were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkI2QN4vtIA5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">970,573</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zK5wK8hevzWk" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zszyEkRQJ3ea" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">733,296</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Addition</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uSGD_c20220101__20221231_zMSRUYLFZYma" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">20,368</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uSGD_c20230101__20231231_zFc54Lnmg6z8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_uUSD_c20230101__20231231_zyrhuGP9vsB5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Addition">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Exchange rate effect</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrxnf8AThXk1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zJzA1thD4qdf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(19,161</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AllowanceForDoubtfulAccountsReceivableExchangeRateEffect_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUW7Ac3QLaye" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(14,179</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zA1pYgsFSU98" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">990,941</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zSwyGy4xL0ud" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">971,780</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zcyU9QCX4Gz6" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">719,117</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

990941

971780

719117

990941

971780

719117

970573

990941

733296

20368

-19161 -14179

990941

971780

719117

<p id="xdx_897_ecustom--ScheduleOfOtherReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztwEXattQS3c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">As of December 31, 2022 and 2023, the balances of other receivables-related parties were as follows: Schedule of Other Receivable Related Party Allowance for Credit Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Other receivables – related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center"> </td><td id="xdx_F2C_zv3Ej7XtMxa5" style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_z6SMIThGeNd6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesGrossCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zCWXQlqUXgC5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">575,200</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherReceivablesGrossCurrent_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_fKDMp_zsT0ncuU8S69" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other receivables related party">425,648</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allowance for credit loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F20_zBtkrxIfjJdh" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20221231_fKDMp_zE48MwKWiyEd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(586,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uSGD_c20231231_fKDMp_zjvkkeKxYkoc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(575,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_di_uUSD_c20231231_fKDMp_zPuMyhxzorGl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Allowance for credit loss">(425,648</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">54 Pandan Road Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F28_zt5SF7Toed5b" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zGeTvQVGgCVl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_zwpfbXYV5BRh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">212,794</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_fKDIp_z2ldbJS89TXa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">157,468</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Ang Poh Hwee</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td id="xdx_F2E_z4gtTXgRuMa4" style="font: 10pt Times New Roman, Times, Serif; text-align: center">(4)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zA7r1hRLQN92" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zFX4LmCaxJq4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">30,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AngPohHweeMember_fKDQp_zwKgzXOmzpH9" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables net">22,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7dkcTHiYBh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zQnAx1ST19Td" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">242,794</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyFCLjoswoLf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other receivables related parties">179,668</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Movement of the allowance for credit loss were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrKBBTL2lA1l" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">589,638</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zbOv5ZqtHmyd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iS_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zGMUQtAk2vpk" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Beginning balance">434,041</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Exchange rate effect</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zg5qQlwNwoIe" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(3,096</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyEF6ZB8Axbd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(11,342</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--OtherReceivablesExchangeRateEffectNetCurrent_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFQbwzauccYh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate effect">(8,393</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkywDOTQETz4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">586,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z4h3asgLyzOh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">575,200</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iE_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z3ig6pnotegb" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">425,648</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 85%; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F0F_zBmVfCJkeWh4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td id="xdx_F16_zV4NqA3bfpa9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date of this report, the Company has collected back all the loan from 54 Pandan Road Pte Ltd.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F02_zJ0xKxqwtu39" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td id="xdx_F13_z3BTKLgnXzKd" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Management service provided to the Joint Venture company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_F08_ztEZHJ3Lvf2l" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(4)</td> <td id="xdx_F1D_zBW5khDqxx4d" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.</td></tr> </table>

586542

575200

425648

586542

575200

425648

212794

157468

30000

22200

242794

179668

589638

586542

434041

-3096 -11342 -8393

586542

575200

425648

As of December 31, 2022 and 2023, the balances of amount due to related parties were as follows: Schedule of Due to Related Parties and Related Party Transactions <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Due to related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Kelvin Ang</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zhsy6WgKxIga" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">150,426</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_iI_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zSlGP7OzgAG7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">83,388</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherLiabilitiesCurrent_iI_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KelvinAngMember_zwkpEUHrjU98" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Due to related parties">61,707</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z8WNI7g9NTl5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">150,426</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uSGD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0K1dcMWjJI2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">83,388</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilitiesCurrent_iI_pp0p0_uUSD_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNzvenxLiAA9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due to related parties">61,707</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> FBS GLOBAL LIMITED Notes to Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">d.</td> <td style="font: 10pt Times New Roman, Times, Serif">Related party transactions</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 86%; margin-left: 1in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">USD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Fine Build-Ninefold Group Construction Company (Private) Limited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Supply construction material</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--SupplyConstructionMaterial_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FineBuildNinefoldGroupConstructionCompanyPrivateLimitedMember_zv47ZMv2qCM8" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Supply construction material">25,633</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">54 Pandan Road Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Rental of warehouse</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--PaymentsForRent_pp0p0_uSGD_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyFourPandanRoadPteLtdMember_z4G9RQjfQXfc" style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Fastfixs Systems Pte Ltd</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Consultation fee</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ProfessionalFees_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zO2x3jlcceo6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Consultation fee">138,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ProfessionalFees_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zKDTWFQ9Mszl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Consultation fee">102,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Supply of labors</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--LaborAndRelatedExpense_pp0p0_uSGD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zGhOlaljEqV7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Supply of labors">43,004</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--LaborAndRelatedExpense_pp0p0_uUSD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FastfixsSystemPteLtdMember_zLi9ThEJuGmj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Supply of labors">31,823</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

150426

83388

61707

150426

83388

61707

25633

30000

138000

102120

43004

31823

P5Y

200000

0.0225

7400000

P10Y

13. Shareholders’ Equity Ordinary shares The Company was established under the laws of the Cayman Islands on March 10, 2022. The authorized number of Ordinary Shares was 500,000,000 with par value of $0.001 per share. On August 2, 2022, the Company issued 11,250,000 shares to the controlling shareholder at par value of $0.001 per share. As a result, there are total 11,250,000 shares issued. In financial year 2021, the subsidiaries paid out further dividend of SGD 1,300,000 on August 25, 2021 and issued 500,000 ordinary shares to pay the outstanding dividend payable on September 7, 2021. The balance of SGD 5,817,274 (USD 4,304,783) still remains into the account as of June 30, 2023. On January 26, 2022, the subsidiary FBS SG issued 160,000 shares to two new shareholders, Master Stride Limited and Fame Hall Investment Limited, with consideration of SGD7.5 per share. Master Stride subscribed <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--MasterStrideSubscribedMember_zLdnmgaDlb21" title="Stock issued during period, subscribed ordinary shares">82,000 ordinary shares for SGD <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_uSGD_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--MasterStrideSubscribedMember_zQEDgsQ8qVhh" title="Stock issued during period, value, new issues">615,000 and Fame Hall subscribed <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--FameHallSubscribedMember_zuNZe4BpNOVd" title="Stock issued during period, shares, new issues">78,000 ordinary shares for SGD <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_uSGD_c20220101__20220126__srt--ConsolidatedEntitiesAxis__custom--FameHallSubscribedMember_zucIvsb1r6z4" title="Stock issued during period, subscribed ordinary shares, value">585,000. A total of SGD 712,880 paid in capital received as of June 30, 2022. By August 2022, the two shareholders Master Stride and Fame Hall made full payment of SGD 1,200,000 to subscribe the share of the subsidiary FBS SG.

500000000

0.001

11250000

0.001

11250000

1300000

500000

5817274

4304783

160000

7.5

82000

615000

78000

585000

712880

1200000

14. Commitments and Contingencies Commitments On November 25, 2020, the Company guaranteed a 5 year commercial loan SGD 200,000 from UOB Bank to Fastfixs Systems Pte Ltd, a related party. The interest rate is fixed at 2.25% per annum and Fastfixs Systems Pte Ltd shall repay the loan over 60 monthly installments with the interest. The Company also guaranteed a SGD 7,400,000 10 year commercial loan on October 31, 2022, in the form of Letter of Credit from UOB Bank to 54 Pandan Road Pte Ltd, a related party. The Letter of Credit has been fully drawn down as of the date of this report. FBS GLOBAL LIMITED Notes to Consolidated Financial Statements The Company also has a banker’s guarantee totaling SGD 2.23 million (USD 1.65 million) from UOB Bank for the ongoing projects as of December 31, 2023. These guarantees are at the request of the main contractor or owner as a security deposit for the performance of the Company obligations under the contracts. All the banker’s guarantee will expired before October 27, 2026. As of December 31, 2023, the future minimum payments under certain of the Company’s contractual obligations were as follows: Schedule of Future Minimum Payments of Contractual Obligations ... <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Payment Due In</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Less than 1 year</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">1 – 2 years</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">3 – 5 years</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Thereafter</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractualObligation_iI_c20231231_zAdZsxSpkHQf" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, payment due in total">2,397,919</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_c20231231_z59swBenskh8" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in Less than 1 year">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractualObligationDueInSecondAndThirdYear_iI_c20231231_zGmv4FenXSh8" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in 1 - 2 years">899,576</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractualObligationDueInFourthAndFifthYear_iI_c20231231_zqF66GSnsbIj" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in 3 - 5 years">11,743</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractualObligationDueAfterFifthYear_iI_c20231231_z1MRjiyHGpo9" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in thereafter">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing lease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20231231_zz2798clT1V1" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, payment due in total">30,908</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20231231_zAfLHyAUqPBe" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in Less than 1 year">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_c20231231_zRx6XwvJ29ng" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in 1 - 2 years">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_c20231231_zr61OOpeSRV2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in 3 - 5 years">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_c20231231_z8uCXu7t6rWh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in thereafter">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Contingencies The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matters will have a material adverse effect on its consolidated financial position, cash flows or results of operations on an individual basis or in the aggregate. As of December 31, 2022 and 2023, the Company is not involved in any material legal or administrative proceedings except for the case below with regards to its subsidiary FBS SG, which matter is now resolved. In August 2021, Newspaper Seng Pte Ltd filed a claim against FBS SG for an amount of approximately SGD2.2 million. Newspaper Seng claim that they have enter an oral agreement with FBS SG in September 2015 to purchase a land and building at 54 Pandan Road, Singapore 609292 to redevelopment, and sale or commercial utilization of the land. Newspaper Seng would invest monies and FBS SG would be in charge the purchase, redevelopment and commercial utilization of the property. In November 2019, FBS SG transferred the property to a third party without the acknowledgment of Newspaper Seng. Hence Newspaper Seng wish to claim back the amount stated above to compensate the loss of the investment. Newspaper Seng Pte Ltd decided to withdraw the suit claims on November 30, 2023 and files the Notice of Discontinuances on April 25, 2024. As of May 21, 2024 both parties have discontinued their claims and counterclaims and the case were settled.

P5Y

200000

0.0225

P60M

7400000

P10Y

2230000

1650000

As of December 31, 2023, the future minimum payments under certain of the Company’s contractual obligations were as follows: Schedule of Future Minimum Payments of Contractual Obligations ... <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Payment Due In</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total SGD</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Less than 1 year</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">1 – 2 years</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">3 – 5 years</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Thereafter</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Bank borrowings</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ContractualObligation_iI_c20231231_zAdZsxSpkHQf" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, payment due in total">2,397,919</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_c20231231_z59swBenskh8" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in Less than 1 year">1,486,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractualObligationDueInSecondAndThirdYear_iI_c20231231_zGmv4FenXSh8" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in 1 - 2 years">899,576</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractualObligationDueInFourthAndFifthYear_iI_c20231231_zqF66GSnsbIj" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in 3 - 5 years">11,743</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractualObligationDueAfterFifthYear_iI_c20231231_z1MRjiyHGpo9" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Bank borrowings, Payment Due in thereafter">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing lease</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20231231_zz2798clT1V1" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, payment due in total">30,908</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_c20231231_zAfLHyAUqPBe" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in Less than 1 year">18,600</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_c20231231_zRx6XwvJ29ng" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in 1 - 2 years">12,308</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_c20231231_zr61OOpeSRV2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in 3 - 5 years">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_c20231231_z8uCXu7t6rWh" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing lease, Payment Due in thereafter">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

2397919

1486600

899576

11743

30908

18600

12308

2200000

15. Segment Reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. Based on the management’s assessment, the Company determined that it has only one operating segment and therefore one reportable segment as defined by ASC 280. The Company’s assets are all located in Singapore and all of the Company’s revenue and expense are derived in the Singapore. Therefore, no geographical segments are presented. The single segment represents the Company’s revenue from construction contracts, sale of construction materials and rendering of services to its customers in Singapore.

16. Subsequent Events The Company evaluated all events and transactions that occurred after December 31, 2023 up through the date the Company issued these financial statements on June 27, 2024 for disclosure or recognition in this consolidated financial statements of the Company as appropriate.

The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at 1.68% for the per period from August 4, 2020 to August 3, 2022, 1.98% for the period from August 4, 2022 to August 3, 2023, and at 6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be 1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at 2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of June 30, 2024 the SORA rate is 4.85%. The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at 2.25% Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be 5.98%-7.0% depend on the date of execution. All trust receipts matured no later than July 26,2024. The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date hereof, the Company has fully collected back. Management service provided to the Joint Venture company. The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee. Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance on August 2, 2022 Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance on August 2, 2022 Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance on August 2, 2022. The property loan with twenty-five years of term from February 2, 2002 to January 31, 2027 will maturity at January 2027 with interest rate at 1.68% for the per period from August 4, 2020 to August 3, 2022, 1.98% for the period from August 4, 2022 to August 3, 2023, and at 6.25% from August 4, 2023 and thereafter. The Company revised the loan on May 3, 2023 and the revised interest rate will be 1.20% plus compounded the Singapore Overnight Rate Average (SORA) reference rate for the period from June 1, 2023 to May 31, 2025, and at 2.00% plus compounded SORA reference rate for the period from June 1, 2025 and thereafter. As of December 31, 2023 the SORA rate is 3.75% The bridging loan with five years of term from September 30, 2020 to September 29, 2025 will maturity at October 2025 with the interest rate at 2.25% Trust receipt is the bank facilities that we use to settle suppliers’ due invoices, it will be mature 120 days after the Company executes it. The interest rate will be 5.15%-6.27% depend on the date of execution. All trust receipts matured no later than March 31,2024. The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date of this report, the Company has collected back all the loan from 54 Pandan Road Pte Ltd. Management service provided to the Joint Venture company. The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.