v3.26.1
Consolidated Balance Sheets
$ in Thousands, $ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2025
SGD ($)
Dec. 31, 2024
SGD ($)
Current assets:      
Cash and cash equivalents $ 8,309 $ 10,684 $ 686
Accounts receivable, net 11,206 14,410 16,257
Contract assets 61 79
Inventories, net 12,257 15,761 18,620
Deposits, prepayments and other receivables 2,330 2,996 1,808
Deferred IPO expenses 1,901
Total current assets 34,163 43,930 39,272
Non-current assets:      
Plant and equipment, net 25,769 33,137 30,233
Right-of-use assets 9 11 1,199
Other receivables 236 304 343
Total non-current assets 26,014 33,452 31,775
TOTAL ASSETS 60,177 77,382 71,047
Current liabilities:      
Accounts payable and accrued liabilities 8,934 11,488 12,136
Bank borrowings 13,184 16,953 23,333
Lease liabilities 5,137 6,606 7,421
Income tax payable 772 993 127
Total current liabilities 39,281 50,512 55,947
Long-term liabilities:      
Lease liabilities 5,878 7,558 6,865
Deferred tax liabilities 2,032 2,613 2,017
Total long-term liabilities 7,910 10,171 8,882
TOTAL LIABILITIES 47,191 60,683 64,829
Commitments and contingencies (Note 19)
Shareholders’ equity      
Ordinary share, par value US$0.000025, 20,000,000,000 shares authorized, 27,796,502 and 29,404,342 ordinary shares issued and outstanding as of December 31, 2024 an December 31, 2025, respectively** [1]
Additional paid-in capital 4,493 5,778 883
Retained earnings 8,493 10,921 5,335
Accumulated other comprehensive income [1] [1]
Total shareholders’ equity 12,986 16,699 6,218
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 60,177 77,382 71,047
Related Party [Member]      
Current liabilities:      
Amounts due to related parties $ 11,254 $ 14,472 $ 12,930
[1] – denotes amount less than $’000.