v3.26.1
INCOME TAX EXPENSE (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
SCHEDULE OF INCOME TAX EXPENSE

The provision for income taxes consisted of the following:

 

   2023   2024   2025 
   For the years ended December 31, 
   2023   2024   2025 
   S$’000   S$’000   S$’000 
Current year income tax expense   117    4    - 
(Over)/Under-provision in prior year   -    (5)   4 
Income tax expense/(benefit)   117    (1)   4 
SCHEDULE OF DEFERRED TAX ASSETS

The components of the deferred tax assets are as follows:

 

   2024   2025 
   As of December 31, 
   2024   2025 
   S$’000   S$’000 
Tax loss carrying forwards   138    918 
           
Deferred tax assets   23    156 
Valuation allowance   (23)   (156)
Total deferred tax assets, net   -    - 
SCHEDULE OF RECONCILIATION OF INCOME TAX RATE

Below is the reconciliation of the statutory tax rate to the effective tax rate after the adoption of ASU 2023-09:

 

   2023           2024           2025         
   For the years ended December 31,  
   2023     2024     2025  
   S$’000     Effective Tax rate     S$’000     Effective Tax rate     S$’000      Effective Tax rate  
Income tax expense at Cayman statutory rate   -     -      -     -      -      -  
Effect of foreign tax rates   210     17.00 %    29     17.00 %    (231)     17.00 %
Tax effect on non-deductible expenses   7     0.57 %    10     5.85 %    11      -0.81 %
Tax effect on non-taxable income   (9)    -0.73 %    -     -      -      -  
Corporate tax exemption   (17)    -1.38 %    (22)    -12.87 %    -      -  
Deferred tax assets not recognized   -     -      -     -      165      -12.13 %
Effect of lower tax rates in foreign jurisdictions   -    

-

     23     13.45 %    74      -5.44 %
(Over)/Under-provision in prior year   -            (5)    -2.92 %    4     

-0.29

%
Corporate tax rebate   (40)    -3.24 %    (16)    -9.36 %    -      - %
Utilization of prior year tax losses   (34)    -2.75 %    (20)    -11.70 %    (19)     1.40 %
Income tax expense/(benefit)   117     9.47 %    (1)    -0.55 %    4      -0.28 %