The
amount due from/to related parties, consisted of the following:
SCHEDULE OF DUE FROM/TO RELATED PARTIES, NET
| | |
2025 | | |
2024 | |
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| | |
$’000 | | |
$’000 | |
| | |
| | |
| |
| Amount due from related parties: | |
| | | |
| | |
| Non-current amount: | |
| | | |
| | |
| - Soon Aik Global Pte Ltd(3) | |
| 1,274 | | |
| 1,295 | |
| Amount due from related parties:
Non-current | |
| 1,274 | | |
| 1,295 | |
| | |
| | | |
| | |
| Current amount: | |
| | | |
| | |
| - EU Group Pte Ltd(1) | |
| 194 | | |
| 29 | |
| - Fleetzone Autoparts (M) Sdn Bhd(3) | |
| 212 | | |
| - | |
| - Oceania Power & Solutions Pty Ltd(2) | |
| - | | |
| 2 | |
| - Kiwami Corporation(2) | |
| 1 | | |
| - | |
| - Branded Filters Pty Ltd(2) | |
| - | | |
| - | |
| - Soon Aik Global Pte Ltd(3) | |
| 1,673 | | |
| 1,395 | |
| Amount
due from related parties: Current | |
| 1,673 | | |
| 1,395 | |
| | |
| | | |
| | |
| Amount due from related parties | |
| 3,354 | | |
| 2,721 | |
| | |
| | | |
| | |
| Amount due to related parties: | |
| | | |
| | |
| - EU Group Pte Ltd(1) | |
| (455 | ) | |
| (125 | ) |
| - PT Heavy Machindo Diesel(2) | |
| - | | |
| (1 | ) |
| - N-United Pte Ltd(2) | |
| (1,400 | ) | |
| (1,226 | ) |
| - Soon Aik Global Pte Ltd(3) | |
| (3,246 | ) | |
| (4,418 | ) |
| - Jurong Barrels & Drums Industries Pte Ltd(1) | |
| (1 | ) | |
| - | |
| - Auto Saver Pte Ltd(3) | |
| (110 | ) | |
| (133 | ) |
| - Fleetzone Autoparts (M) Sdn Bhd(3) | |
| (208 | ) | |
| (235 | ) |
| - Director(4) | |
| (47 | ) | |
| (739 | ) |
| | |
| | | |
| | |
| Amount due to related parties | |
| (5,467 | ) | |
| (6,877 | ) |
The
related parties are controlled by the common directors of the Company as follows:
| (1) |
Jimmy
Neo owns a 50.0% equity stake in EU Holdings Pte Ltd, which in turn is the parent entity of EU Group Pte Ltd and Jurong Barrels &
Drums Industries Pte Ltd. |
| (2) |
CE
Neo is the sole owner of Soon Aik Holdings Pte Ltd (“SA Holdings”) and N-United Pte Ltd (“N-United”). SA
Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd. Branded Filters Pty Ltd, and an associated entity with Oceania
Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation
in Japan |
| (3) |
Soon
Aik, the parent entity of the Company and is also the parent entity of Auto Saver Pte Ltd and Fleetzone Autoparts (M) Sdn Bhd. |
| (4) |
Jimmy
Neo is the executive director and chief executive office of the Company, and owns a 25.0% equity stake in the controlling shareholder,
Soon Aik Global Pte. Ltd. |
|