v3.26.1
Loans and Borrowings
 12 Months Ended
Dec. 31, 2025
Loans and Borrowings [Abstract]  
LOANS AND BORROWINGS

Note 10 — LOANS AND BORROWINGS

 

Long-term and short-term loans and borrowings are as follows:

 

   As of December 31, 
   2024   2025   2025 
   S$   S$   $ 
Total loans and borrowings   835,800    576,751    448,519 
Less: loans and borrowings – current   256,729    217,680    169,282 
Loans and borrowings – non-current   579,071    359,071    279,237 

 

Bank borrowings comprised of the following:

 

                As of December 31, 
Loans and  Principal   Maturity  Interest  Repayment            
borrowings  amount   Date  Rate  Method  2024   2025   2025 
   S$            S$   S$   $ 
Standard Chartered Bank Enterprise Financing Temporary Bridging Loan II   275,000   July 31,
2025		  4.12% below prevailing Business Instalment Loan Board Rate, subject to a cap of 5%  Monthly Repayment   56,322    
-
    
-
 
ANEXT Bank Loan   300,000   January 26,
2028		  Fixed at 8.80%  Monthly Repayment   200,223    141,115    109,740 
Standard Chartered Bank Business Installment Loan   300,000   August 31,
2028		  0.72% below prevailing Business Instalment Loan Board Rate  Monthly Repayment   230,670    174,179    135,453 
OCBC Business Term Loan   300,000   August 31,
2028		  4.25% below prevailing Business Term Rate  Monthly Repayment   233,111    174,314    135,558 
DBS SME Working Capital Loan II   150,000   August 9,
2028		  Fixed at 7.75%  Monthly Repayment   115,474    87,143    67,768 
Total loans and borrowings                 835,800    576,751    448,519 

 

For the years ended December 31, 2023, 2024 and 2025, the effective interest rate of the Company’s loans and borrowings ranges from 2.75% to 9.50%, 2.75% to 8.80% and 2.75% to 8.80%, respectively.

 

Interest expenses arising from the Company’s loans and borrowings for the years ended December 31, 2023, 2024 and 2025 amounted to S$65,085, S$80,176 and S$55,329 ($43,027), respectively.

 

All loans and borrowings are secured over the joint and several personal guarantees from Ms. Siew Yian Lee and Mr. Heng Kong Chuan, the director and shareholders of the Company.

The maturity dates for the Company’s outstanding loans and borrowings as of December 31, 2025 are as follows:

 

   S$   $ 
2026   256,713    199,637 
2027   256,713    199,637 
2028   126,349    98,257 
Thereafter   
—
    
—
 
Total loans and borrowings   639,775    497,531 
Less: Imputed interest   (63,024)   (49,012)
Present value of loans and borrowings   576,751    448,519