7. RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE

The right-of-use assets relate to leases of industrial lands in Singapore, certain plant and machinery, furniture and fittings, and motor vehicles under a number of leases.

The Company recognized operating lease ROU assets and lease liabilities as follows:

SCHEDULE OF RIGHT OF USE ASSETS AND LIABILITIES

Amortization of right-of-use assets was approximately SGD211 thousand and SGD163 thousand (US$127 thousand) for the years ended December 31, 2024 and 2025, respectively.

Finance lease liabilities

The Company’s finance lease liabilities are secured by the underlying leased assets, corporate guarantees provided by the Company and its subsidiaries and personal guarantees provided by director of the Company. 

As of December 31, 2025, future minimum lease payments under the finance leases are as follows:

 SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCE LEASES

The following summarizes other supplemental information about the Company’s finance lease as of December 31, 2025:

SCHEDULE OF OTHER SUPPLEMENTAL INFORMATION ABOUT THE COMPANY’S FINANCE LEASE 

Operating lease liabilities

As of December 31, 2025, future minimum lease payments under the non-cancelable operating leases are as follows:

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON-CANCELABLE OPERATING LEASES

The following summarizes other supplemental information about the Company’s operating lease as of December 31, 2025:

SCHEDULE OF OTHER SUPPLEMENTAL INFORMATION ABOUT THE COMPANY’S OPERATING LEASE