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ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, NET

NOTE－4 ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net consisted of the following:

 

   As of
Dec 31, 2023		   As of
Dec 31, 2024		 
   S$’000   S$’000 
         
Accounts receivable   25,386    19,310 
Less: Allowance for credit loss   (3,642)   (3,053)
           
Accounts receivable, net   21,744    16,257 

 

For the year ended December 31, 2023 and 2024, the Company has made the allowance for credit loss and charged to the consolidated statements of operations. The Company has written-off approximately S$0.6 million each against allowance for credit loss provided in previous years for the year ended December 31, 2023 and 2024.

 

The Company generally conducts its business with creditworthy third parties. The Company determines, on a continuing basis, the probable losses and an allowance for credit loss, based on several factors including internal risk ratings, customer credit quality, payment history, historical bad debt/write-off experience and forecasted economic and market conditions. Accounts receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. In addition, receivable balances are monitored on an ongoing basis and its exposure to bad debts is not significant.

 

 

Analysis of allowance for credit loss

 

   As of
Dec 31, 2023		   As of
Dec 31, 2024		 
   S$’000   S$’000 
         
Balance at beginning of period   4,240    3,642 
Provision during the period   41    19 
Written off during the period   (532)   (582)
Reversal during the period   (107)   (26)
Balance at the end of the period   3,642    3,053