| Deposit for an acquisition |
Note 6 - Deposit for an acquisition
Deposit for an acquisition consist of the following:
| | |
December 31,
2023 | | |
December 31,
2024 | | |
December 31,
2025 | | |
December 31,
2025 | |
| | |
SGD | | |
SGD | | |
SGD | | |
USD | |
| Deposit for an acquisition i | |
| 3,370,757 | | |
| 3,920,925 | | |
| - | | |
| - | |
| Less: Long term portion | |
| - | | |
| - | | |
| - | | |
| - | |
| Deposit for an acquisition – current portion | |
| 3,370,757 | | |
| 3,920,925 | | |
| - | | |
| - | |
| i | As at December 31, 2023, the Group had a deposit for an acquisition include the amounts of S$618,286 which is the outstanding balance of a loan facility that the Group, on May 26, 2023, offered to Ohmyhome Property Inc. to support working capital for budding real estate agency Ohmyhome Property Inc., with interest charged at 5% per annum and repayment term of 1 year or 14 days from the date of demand, and S$2,686,340 (US$1,986,288) which is the debt purchased from the debt seller on July 3, 2023 and its interest that is owed by Ohmyhome Property Inc. | | | | | | As at December 31, 2024, the deposit increased to S$3,920,925 due to additional advances and accrued interest during the year. The deposit is related to the proposed acquisition of Ohmyhome Property Inc. | | | | | | On January 23, 2025, the Group completed the acquisition of Ohmyhome Property Inc., and this acquisition deposit was transferred to the purchase consideration in the computation of goodwill (see Note 10). |
|