| ACCOUNTS RECEIVABLE, NET |
Note 6
— ACCOUNTS RECEIVABLE, NET
Accounts
receivable, net consist of the following:
| | |
As
of March 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
US$ | |
| Accounts
receivable – third parties | |
| 12,259,209 | | |
| 12,656,589 | | |
| 9,413,603 | |
| Less:
Provision for allowance for credit losses – third parties | |
| (751,145 | ) | |
| (1,109,571 | ) | |
| (825,267 | ) |
| Accounts
receivable, net | |
| 11,508,064 | | |
| 11,547,018 | | |
| 8,588,336 | |
As
at the end of each reporting period, the aging analysis of accounts receivable, net of provision for allowance for expected credit losses,
based on due date is as follows:
| | |
As
of March 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
US$ | |
| Within
30 days | |
| 8,777,769 | | |
| 6,767,079 | | |
| 5,033,157 | |
| Between
31 and 60 days | |
| 1,407,083 | | |
| 1,354,777 | | |
| 1,007,643 | |
| Between
61 and 90 days | |
| 1,006,916 | | |
| 1,260,919 | | |
| 937,835 | |
| Between
91 and 120 days | |
| 316,296 | | |
| 649,852 | | |
| 483,341 | |
| Over
120 days | |
| - | | |
| 1,514,391 | | |
| 1,126,360 | |
| Total
accounts receivable, net | |
| 11,508,064 | | |
| 11,547,018 | | |
| 8,588,336 | |
Accounts
receivable, net due over 120 days are mainly due from few major customers with good payment profile and extended credit term are
given. At the end of July 2025, approximately 70% of the total accounts receivable, net were recovered.
Movements in provision for allowance for credit
losses — third parties are as follows:
| | |
As
of March 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
US$ | |
| Provision
for allowance for expected credit losses, beginning | |
| 727,552 | | |
| 751,145 | | |
| 558,680 | |
| Write-off | |
| (44,843 | ) | |
| — | | |
| — | |
| Additions | |
| 68,436 | | |
| 358,426 | | |
| 266,587 | |
| Provision
for allowance for expected credit losses, ending | |
| 751,145 | | |
| 1,109,571 | | |
| 825,267 | |
|