v3.26.1
DEFERRED TAX LIABILITIES
 12 Months Ended
Dec. 31, 2025
Deferred Tax Liabilities  
DEFERRED TAX LIABILITIES

NOTE 13 – DEFERRED TAX LIABILITIES

 

   As of
Dec 31, 2023		     As of
Dec 31, 2024		   As of
Dec 31, 2025		 
   S$’000      S$’000    S$’000 
                   
Deferred tax liabilities, beginning    861      1,586    2,017 
Additions    725      431    596 
Deferred tax liabilities, ending    1,586      2,017    2,613 

 

The temporary differences which give rises to the deferred income tax liability are as follows:

 

   As of
Dec 31, 2024		   As of
Dec 31, 2025		 
    S$’000    S$’000 
           
Net book value of fixed assets   30,233    33,137 
Net book value of ROUA   1,199    11 
Less: Lease liabilities (ROUA)   (1,221)   (12)
Less: Net book value of non-qualifying assets   (27)   (53)
Deferred tax liability gross   30,184    33,083 
Less: Tax written down value   (18,309)   (17,711)
Timing difference   11,875    15,372 
           
Deferred tax liability @ 17%   2,017    2,613 

 

Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

 

Liabilities are established for uncertain tax positions expected to be taken in income tax returns when such positions are judged to meet the “more-likely-than-not” threshold based on the technical merits of the position.

 

Under the current tax law in Singapore, the Company is and will be subjected to the enterprise income tax rate of 17%.