| Bank loans |
Note 12 – Bank loans
Outstanding balances of bank loans consist of
the following:
| Bank Name | | Drawn/ Maturities | | Interest Rate | | | Collateral/Guarantee | | December 31, 2023
SGD | | | December 31, 2024
SGD | | | December 31, 2025 SGD | | | December 31, 2025
USD | | | DBS Bank Ltd. | | June 2020 /June 2025 | | | 3.00 | % | | Guaranteed by Ms. Rhonda Wong, Co-Chief Executive Officer and Director of the Company and Anthill, major shareholder of the Company | | | 315,878 | | | | 106,875 | | | | - | | | | - | | | Maybank Singapore Limited | | November 2020/November 2025 | | | 2.75 | % | | Guaranteed by Ms. Rhonda Wong, Co-Chief Executive Officer and Director of the Company and Ms. Race Wong, Chief Operating Officer and Director of the Company | | | 159,859 | | | | 77,505 | | | | - | | | | - | | | United Overseas Bank Limited | | November 2020/November 2025 | | | 2.25 | % | | Guaranteed by Mr. Kenneth Chong, Chief Executive Officer and Director of Ohmyhome Property Management Pte Ltd, Mr. Cho Ching Joe Kwan and Mr. Kok Wah Ming, former Directors of Ohmyhome Property Management (S) | | | 82,018 | | | | 43,439 | | | | 3,867 | | | | 3,008 | | | ORIX Leasing Singapore Limited | | April 2024/April 2029 | | | 7.50 | % | | Guaranteed by Ms. Rhonda Wong, Co-Chief Executive Officer and Director of the Company and Ms. Race Wong, Chief Operating Officer and Director of the Company | | | - | | | | 425,620 | | | | - | | | | - | | | Total | | | | | | | | | | | 557,755 | | | | 653,439 | | | | 3,867 | | | | 3,008 | | | Bank loans, current portion | | | | | | | | | | | 331,528 | | | | 238,521 | | | | 3,867 | | | | 3,008 | | | Bank loans, non-current portion | | | | | | | | | | | 226,227 | | | | 414,918 | | | | - | | | | - | | Interest expense for the years ended December
31, 2023, 2024 and 2025 amounted to S$19,105, S$33,068 and S$15,677 (US$12,191) respectively.
The maturities
schedule is as follows:
Twelve
months ending December 31,
| | |
SGD | | |
USD | |
| | |
| | |
| |
| 2026 | |
| 3,867 | | |
| 2,989 | |
| Total | |
| 3,867 | | |
| 2,989 | |
|