v3.25.2
Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
SGD ($)
Dec. 31, 2023
SGD ($)
Cash flows from operating activities:      
Net income $ 1,379 $ 1,884 $ 7,080
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of plant and equipment 3,101 4,236 3,729
Depreciation of right-of-use assets 652 891 396
(Gain)/Loss on disposal of plant and equipment 92 126 (761)
Gain on de-recognition of right-of-use assets (51)
Change in working capital:      
Accounts receivable 3,982 5,440 (9,395)
Contract assets 2,038 2,784 (2,784)
Inventories (6,521) (8,910) 867
Related parties (795) (1,087) (2,024)
Accounts payable and accrued liabilities (443) (605) (3,383)
Income tax payable (132) (181) (219)
Deferred tax liabilities 315 431 725
Net cash (used in)/provided by operating activities 3,668 5,009 (5,820)
Cash flows from investing activities:      
Proceeds from disposal of plant and equipment 2,492 3,405 8,896
Repayment from finance lease receivables 494 675 349
Purchase of plant and equipment (9,381) (12,817) (12,382)
Net cash used in investing activities (6,395) (8,737) (3,137)
Cash flows from financing activities:      
Proceeds from bank borrowings 10,726 14,654 14,668
Deferred IPO expenses (516) (705) (1,196)
Repayment of bank borrowings (195) (266) (266)
Principal repayment of lease liabilities (7,862) (10,741) (7,482)
Payment of deferred financing costs (635) (868) (405)
Net cash provided by financing activities 1,518 2,074 5,319
Effect on exchange rate change on cash and cash equivalents (63)
Net change in cash and cash equivalent (1,272) (1,654) (3,638)
BEGINNING OF PERIOD 1,774 2,340 5,978
END OF PERIOD 502 686 2,340
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for income taxes 352 481 540
Cash paid for interest 695 949 822
Cash received from finance lease receivable interest (455) (621) (34)
Operating lease asset obtained in exchange for operating lease obligations $ 1,524 $ 2,082