v3.26.1
RIGHT-OF-USE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
SCHEDULE OF CARRYING AMOUNT OF RIGHT-OF-USE ASSETS

The carrying amount of right-of-use assets by class of underlying asset are as follows:

 

   As of
Dec 31, 2024		   As of
Dec 31, 2025		 
    S$’000    S$’000 
           
At cost:          
Leasehold buildings   2,072    2,072 
Office equipment   20    20 
Right-of-use assets, gross   2,092    2,092 
Less: Accumulated depreciation   (893)   (2,081)
           
Right-of-use assets, net   1,199    11 
SCHEDULE OF LEASE-RELATED ASSETS AND LIABILITIES

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

 

   As of
Dec 31, 2024		   As of
Dec 31, 2025		 
   S$’000   S$’000 
         
Assets          
Operating lease, right-of-use asset, net   1,199    11 
           
Total right-of-use asset   1,199    11 
           
Liabilities          
Current:          
Operating lease liabilities   1,209    4 
Operating lease liabilities current   1,209    4 
           
Non-current:          
Operating lease liabilities   12    8 
 Operating lease liabilities noncurrent    12    8 
           
Total operating lease liabilities   1,221    12 
SCHEDULE OF LEASE EXPENSE

The Company excludes short-term leases (those with lease terms of less than one year at inception) from the measurement of lease liabilities or right-of-use assets. The following tables summarize the lease expense for the years.

 

   As of
Dec 31, 2023		     As of
Dec 31, 2024		   As of
Dec 31, 2025		 
   S$’000      S$’000    S$’000 
                   
Operating lease cost:                  
Operating lease expense (per ASC 842)    422      951    1,217 
                   
Short-term lease expense (other than ASC 842)    120      120    323 
                   
Total lease expense    542      1,071    1,540 
SCHEDULE OF FUTURE CONTRACTUAL LEASE PAYMENTS

The below table summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the next three years ending December 31:

 

Year ending December 31, 

Operating and

finance

lease amount

 
   S$’000 
Right of Use Assets     
2026   5 
2027 – 2030   8 
Less: interest     
2026   (1)
Present value of lease liabilities – Right of Use Assets   12 
      
Representing:     
Current liabilities – Right of Use Assets   4 
Non-current liabilities – Right of Use Assets   8 
Operating lease liabilities – Right of Use Assets   12 
      
Hire Purchase     
2026   7,130 
2027 – 2030   7,900 
Less: interest     
2026   (528)
2027 onwards   (350)
      
Present value of lease liabilities – Hire Purchase   14,152 
      
Representing:     
Current liabilities – Hire Purchase   6,602 
Non-current liabilities – Hire Purchase   7,550 
Finance lease liabilities – Hire Purchase   14,152 
      
Representing:     
Current liabilities   6,606 
Non-current liabilities   7,558 
      
Lease liabilities   14,164 
SCHEDULE OF OPERATING LEASE SUPPLEMENTAL CASH FLOWS INFORMATION

 SCHEDULE OF OPERATING LEASE SUPPLEMENTAL CASH FLOWS INFORMATION

   2023   2024   2025 
   Year ended December 31 
   2023   2024   2025 
   S$’000   S$’000   S$’000 
Supplemental Cash Flows information               
Cash paid for amounts included in the measurement of lease liability:               
Operating cash flows from operating lease   7,764    8,638    9,573 
                
Operating lease asset obtained in exchange for operating lease obligations               
Operating lease   9,439    8,360    10,383 
                
Remaining lease term               
Operating lease   3.5 years    2.5 years    2.2 years 
Discount rate               
Operating lease   5.76%   5.15%   4.77%