13
Bank loans
The
bank loans as of December 31,2024 and 2025 are set out below:
Schedule of short-term bank loan
2024
| Bank
loans | |
Currency | |
Period | |
Interest | |
Individual
guarantee | |
Directors’
personal guarantee | |
Carrying
amount (S$) | | |
Carrying
amount (US$) | |
| Secured fixed
rate bank loans | |
SGD | |
2020 - 2025 | |
2.75% -6.75%p
P.a. | |
Guarantee
from Poo Kow Peok, Poo Chen Boon and Poo Chong Hee | |
Corporate
guarantee from Campaign Complete Solutions Pte Ltd and WIS Holdings Pte Ltd | |
| 520,740 | | |
| 381,159 | |
| | |
| |
| |
| |
| |
| |
| 520,740 | | |
| 381,159 | |
2025
| Bank
loans | |
Currency | |
Period | |
Interest | |
Individual guarantee | |
Directors’
personal guarantee | |
Carrying
amount (S$) | | |
Carrying
amount (US$) | |
| Secured variable
rate bank loans | |
SGD | |
2025 - 2026 | |
1.75% +
3 months compounded SORA per annum on monthly rests | |
- | |
- | |
| 750,000 | | |
| 583,249 | |
| | |
| |
| |
| |
| |
| |
| 750,000 | | |
| 583,249 | |
Schedule
of bank loans
December
31, 2024 (All amounts in S$)
| Bank loans | |
Carrying
amount | | |
Within
1 year | | |
2026 | | |
2027 | | |
2028 | | |
2029 | | |
Thereafter | |
| Secured fixed rate bank loans | |
| 520,740 | | |
| 520,740 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
SIMPPLE
LTD. AND ITS SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
13
Bank loans (cont’d)
December
31, 2025 (All amounts in S$)
| Bank loans | |
Carrying
amount | | |
Within
1 year | | |
2027 | | |
2028 | | |
2029 | | |
2030 | | |
Thereafter | |
| Secured fixed rate bank loans | |
| 750,000 | | |
| 750,000 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
December
31, 2025 (All amounts in US$)
| Bank loans | |
Carrying
amount | | |
Within
1 year | | |
2027 | | |
2028 | | |
2029 | | |
2030 | | |
Thereafter | |
| Secured fixed rate bank loans | |
| 583,249 | | |
| 583,249 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
One
of the subsidiaries breached certain financial covenants associated with its bank loan facility in 2024. The outstanding loan balance
was subsequently fully repaid during the year.
|