December 31,

2024

2025

SGD’000

US$’000

As of January 1,

6,960

6,660

5,179

Decrease in contract liabilities as a result of recognizing revenue during the year that was included in the contract liabilities at the beginning of the year

(4,609

)

(6,621

)

(5,149

)

Increase in contract liabilities as a result of receiving forward sales deposits and instalments during the year in respect of machines still under production

4,309

5,776

4,492

As of December 31,

6,660

5,815

4,522