v3.25.2
BANK BORROWINGS
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
BANK BORROWINGS

NOTE－ 11 BANK BORROWINGS

 

Bank borrowings consisted of the following:

 

   Term of  Annual   As of   As of 
   repayments  interest rate   Dec 31, 2023   Dec 31, 2024 
            S$’000    S$’000 
                   
Term loans  Within 5 years   3.0%   431    175 
Bills payable (Note a)           16,875    23,158 
Bank borrowings           17,306    23,333 
Total:                  
Representing:-                  
Within 12 months           17,131    23,333 
Over 1 year           175    - 
                   
Bank borrowings           17,306    23,333 

 

Note a: These bills payable are short term credit facilities granted by local banks to us in the amount of up to in aggregate of S$23.5 million and is up to 180 days for financing the purchase of equipment and machinery.

 

As of December 31, 2024 and 2023, term loan was obtained from a financial institution in Singapore, which bear annual interest at a fixed rate at 3.0% and are repayable within 5 years.

 

The Company’s bank borrowing is guaranteed under a personal guarantee from Mr Jison Lim and under a corporate guarantee from Ten-League Corporations Pte Ltd.