v3.25.2
LEASE LIABILITIES
 12 Months Ended
Dec. 31, 2024
Lease Liabilities  
LEASE LIABILITIES

NOTE 12 – LEASE LIABILITIES

 

The Company has lease contracts for machinery and equipment and factory premises. The lease agreements do not impose any covenants, but lease assets may not be used as security for borrowing purposes. The movement in the carrying amount of lease liabilities are as follows:

 

   As of
Dec 31, 2023		   As of
Dec 31, 2024		 
    S$’000    S$’000 
           
Opening   14,525    15,454 
Addition during the year   9,439    10,442 
De-recognised during the year   (1,512)   (3,799)
Accretion of interest   766    827 
Lease payments   (7,764)   (8,638)
Closing   15,454    14,286 

 

Lease liabilities are presented in the statement of financial position as follows:

 

   As of
Dec 31, 2023		   As of
Dec 31, 2024		 
   S$’000   S$’000 
         
Lease liabilities, current   6,246    7,421 
Lease liabilities, non-current   9,208    6,865 
Lease liabilities   15,454    14,286