v3.26.1
LEASE LIABILITIES
 12 Months Ended
Dec. 31, 2025
Lease Liabilities  
LEASE LIABILITIES

NOTE 12 – LEASE LIABILITIES

 

The Company has lease contracts for machinery and equipment and factory premises. The lease agreements do not impose any covenants, but lease assets may not be used as security for borrowing purposes. Lease contract for factory premises expired on December 31, 2025. The movement in the carrying amount of lease liabilities are as follows:

 

   As of
Dec 31, 2024		   As of
Dec 31, 2025		 
    S$’000    S$’000 
           
Lease liabilities, beginning   15,454    14,286 
Additions   10,442    10,384 
De-recognised   (3,799)   (1,724)
Accretion of interest   827    791 
Lease payments   (8,638)   (9,573)
Lease liabilities, ending   14,286    14,164 

 

Lease liabilities are presented in the statement of financial position as follows:

 

   As of
Dec 31, 2024		   As of
Dec 31, 2025		 
    S$’000    S$’000 
           
Lease liabilities, current   7,421    6,606 
Lease liabilities, non-current   6,865    7,558 
Lease liabilities   14,286    14,164