v3.26.1
BANK BORROWINGS
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
BANK BORROWINGS

NOTE 10 - BANK BORROWINGS

 

Bank borrowings consisted of the following:

 

   repayments  interest rate   2024   2025 
   Term of  Annual  

As of

December 31,

     
   repayments  interest rate   2024   2025 
          S$’000   S$’000 
                
Term loans (unsecured)   Within 5 years   2.50%   53    - 
Property loan (secured)  Within 27 years   3.75% - 4.82%   407    398 
Total:           460    398 
                   
Representing: -                  
Within 12 months           62    10 
Between 2 - 3 years           20    11 
Over 3 - 5 years           22    35 
Over 5 years           356    342 
Long term debt           460    398 

 

Term loan of S$500,000 was an unsecured borrowing from OCBC bank in 2020 with an annual fixed interest rate of 2.5%. The loan is for a period of 5 years up to 2025. This amount was used to finance the expansion of the business. The term loan has been fully repaid on June 30, 2025.

 

Mortgage loan of S$420,000 was a secured borrowing from OCBC bank in 2023. The loan is for a period of 27 years up to 2050 with an annual variable interest rate of 4.82% and 3.75% in December 31, 2024 and December 31, 2025 respectively. This amount was used to finance the acquisition of an office property located at 7030 Ang Mo Kio Avenue 5 #09-102 Singapore 569880.

 

The Company’s bank borrowings currently are guaranteed by a personal guarantee from Joyce Lee Jue Hui, director and shareholder of the Company.