v3.26.1
Bank Loans
 12 Months Ended
Mar. 31, 2026
Bank Loans [Abstract]  
BANK LOANS

Note 12 — BANK LOANS

 

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

 

    As of March 31,  
    2025     2026     2026  
    S$     S$     US$  
Total bank loans     3,234,199       4,005,694       3,105,013  
Less: current portion of bank loans     (400,016 )     (487,266 )     (377,704 )
Long-term bank loans     2,834,183       3,518,428       2,727,309  

 

Bank loans comprised of the following:

 

Loan   Principal
amount		   Maturity
date		   Interest rate   Repayment
method		   March 31,
2025		     March 31,
2026		     March 31,
2026		  
                    S$     S$     US$  
                    Fixed at 1.68% for first 2 years.                            
Mortgage loan I   S$     3,270,400     July 31, 2030   Subsequent years- 1.30% to 2.00% over the applicable 3-month Compounded Singapore Overnight Rate Average (“SORA”)   Monthly repayment     1,188,377       1,006,166       779,930  
                                                 
Mortgage loan II   S$     1,062,500     May 31, 2036   1.30% to 2.00% over the applicable 3-month SORA   Monthly repayment     670,829       628,829       487,437  
                                                 
Mortgage loan III   S$     887,000     March 31, 2031   1.30% to 2.00% over the applicable 3-month SORA   Monthly repayment     565,504       480,246       372,263  
                                                 
Mortgage loan IV   S$     907,000     August 31, 2036   1.30% to 2.00% over the applicable 3-month SORA   Monthly repayment     595,455       552,634       428,374  
                                                 
Mortgage loan V*    S$     1,048,800     March 21, 2040   Fixed at 3.00% for first 2 years
Subsequent years- 3.00% over the applicable 3-month Compounded Singapore Overnight Rate Average (“SORA”)		   Monthly repayment     131,219       316,950       245,683  
                                                 
Mortgage loan VI   S$     350,000     June 18,2030   Prevailing 3-month Cost of Funds plus 1.50%   Monthly repayment     —       301,248       233,512  
                                                 
Mortgage loan VII*   S$     1,091,400     February 28,2045   3-month SORA (in advance) plus a margin of 0.75% per annum for the first 2 years, and 3.00% per annum thereafter.   Monthly repayment     —       321,337       249,084  
                                                 
Mortgage loan VIII*   S$     1,091,400     February 28,2045   3-month SORA (in advance) plus a margin of 0.75% per annum for the first 2 years, and 3.00% per annum thereafter.   Monthly repayment    

—

       321,425       249,153  
                                                 
Term loan I   S$     960,000     August 31, 2036   1.30% to 2.00% over the applicable 3-month SORA   Monthly repayment     66,617       61,826       47,924  
                                                 
Term loan II   S$     200,000     August 31, 2036   1.30% to 2.0% over the applicable 3-month SORA   Monthly repayment     16,198       15,033       11,653  
Total bank loans                             3,234,199       4,005,694       3,105,013  

 

* Mortgage Loan V,VII,VIII relates to the construction in progress, as disclosed in Note 9.

 

For the years ended March 31, 2024, 2025 and 2026, the effective interest rate of the Company’s bank loans ranged from 3.53% to 6.71%, 1.68% to 4.98%, and 2.80% to 4.94% per annum respectively.

 

Interest expenses arising from the Company’s bank loans for the years ended March 31, 2024, 2025 and 2026 amounted to S$134,001, S$160,780 and S$130,578 (US$101,215) respectively.

 

The Company’s bank loans are secured by the following — existing first legal mortgages over certain properties of the Company, existing corporate guarantee from a director and shareholder of the Company and an insurance policy as disclosed in Note 8.

 

The maturity dates for the Company’s outstanding bank loans as of March 31,2025 and 2026 are as follows:

 

    As of March 31,  
    2025     2026     2026  
    S$     S$     US$  
2026     490,858       —       —  
2027     484,500       616,407       477,808  
2028     483,922       616,407       477,808  
2029     483,922       616,407       477,808  
2030     483,922       616,407       477,808  
2031     —       444,519       344,569  
Thereafter     1,347,093       1,654,934       1,282,822  
Total bank loans     3,774,217       4,565,081       3,538,623  
Less: Imputed interest     (540,018 )     (559,387 )     (433,610 )
Present value of bank loans     3,234,199       4,005,694       3,105,013  

 

The Company’s bank loan agreements contain certain covenants, which require compliance with certain financial ratios. As of March 31, 2025 and 2026, the Company were in compliance with all the financial covenants under its existing loan agreements.