v3.26.1
Consolidated Balance Sheets
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2025
SGD ($)
Dec. 31, 2024
SGD ($)
Current assets:      
Cash and cash equivalents $ 1,549 $ 1,990,000 $ 314,000
Accounts receivable
Deposits, prepayments and other receivables 52 67,000 1,371,000
Total current assets 1,601 2,057,000 1,685,000
Non-current assets:      
Property and equipment, net 418 537,000 584,000
Intangible assets 57 73,000 58,000
Right-of-use asset 37,000
Total non-current assets 475 610,000 679,000
TOTAL ASSETS 2,076 2,667,000 2,364,000
Current liabilities:      
Accounts payable and accrued liabilities 992 1,274,000 719,000
Bank borrowings 8 10,000 62,000
Lease liabilities 37,000
Amount due to director   218,000 1,129,000
Income tax payable 6 8,000 4,000
Total current liabilities 1,176 1,510,000 1,951,000
Non-current liabilities:      
Bank borrowings 302 388,000 398,000
Lease liabilities
Total non-current liabilities 302 388,000 398,000
TOTAL LIABILITIES 1,478 1,898,000 2,349,000
Commitments and contingencies
Shareholders’ equity:      
Ordinary share, par value US$0.00225, 222,222,222.22 shares authorized, 37,777.78 shares issues and outstanding [1]   (0) (0) [2]
Additional paid-in capital 1,664 2,137,000 11,000
Retained earnings/(Accumulated losses) (1,060) (1,361,000) 4,000
Translation reserve (6) (7,000)
Total shareholders’ equity 598 769,000 15,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 2,076 2,667,000 2,364,000
Director [Member]      
Current liabilities:      
Amount due to director $ 170 $ 218,000 $ 1,129,000
[1] Retrospectively presented for the effect of (i) the issuance of 1 ordinary share on February 15, 2024 in preparation of the Company’s initial public offering, (ii) the 1:200 share subdivision and 5,000,000 share surrender approved on October 2, 2024, (iii) the 15 for 1 reverse share split effected on February 12, 2026, and (iv) the 30 for 1 reverse share split effected on May 4, 2026.
[2] Below $$1,000/US$1,000