| Schedule of bank loans |
Outstanding
balances on bank loans consist of the following:
Schedule of bank loans
| Bank Name | |
Repayment
terms | |
Interest Rate | | |
Collateral/ Guarantee | |
As of December 31, 2025 | | |
As of December 31, 2024 | |
| | |
| |
| | |
| |
US$ | | |
US$ | |
| United Overseas Bank Limited | |
Due monthly beginning in June 2022 to May 2026 | |
| 3.00 | % | |
Guaranteed by the Company’s shareholders | |
$ | 171,154 | | |
$ | 547,547 | |
| The Development Bank of Singapore Limited | |
Due monthly beginning in September 2020 to August 2025 | |
| 2.50 | % | |
Guaranteed by the Company’s shareholders | |
| - | | |
| 79,042 | |
| DBS Bank Ltd | |
Due
monthly beginning in March 2024 to Mar 2028 | |
| 7.75 | % | |
Guaranteed by the Company’s shareholders | |
| 42,048 | | |
| 55,784 | |
| Total long-term loans – bank | |
| |
| | | |
| |
| 213,202 | | |
| 682,373 | |
| Less: Discount on debt instrument | |
| |
| | | |
| |
| - | | |
| (21,384 | ) |
| Less: Current portion | |
| |
| | | |
| |
| (188,950 | ) | |
| (482,454 | ) |
| Total | |
| |
| | | |
| |
$ | 24,252 | | |
$ | 178,535 | |
|
| Schedule of short term loans |
Outstanding
balances on short term loans – third parties consist of the following:
Schedule of short term loans
| Lender Name | |
Maturities | |
Interest Rate |
| |
Collateral/ Guarantee | |
As of December 31, 2025 | | |
As of December 31, 2024 | |
| | |
| |
|
| |
| |
US$ | | |
US$ | |
| Allen Peter Anthony | |
August 2025 | |
30.0 |
% p.a. | |
None | |
$ | - | | |
$ | 150,000 | |
| Zeng Li Ren | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 527,853 | | |
| 300,000 | |
| Lee Kim Tah Foundation | |
September 2025 and October 2026 | |
15.0
|
%(3) | |
None | |
| 250,000 | | |
| 250,000 | |
| Tan Tin Wee | |
September 2025 and October 2026 | |
15.0 |
%(3) | |
None | |
| 50,000 | | |
| 50,000 | |
| Le Phu Khanh Huy | |
September 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 1,541,221 | | |
| 1,412,285 | |
| Oh Sock Ping | |
September 2025 and October 2026 | |
15.0 |
%(3) | |
None | |
| 56,817 | | |
| 56,817 | |
| Yee Kee | |
August 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 295,842 | | |
| - | |
| Lim Li Wen Chloe | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 101,209 | | |
| - | |
| Lew Hui Pau | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 77,853 | | |
| - | |
| Teo Tian Seng | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 155,706 | | |
| - | |
| Kang Yan Pte. Ltd. | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 101,598 | | |
| - | |
| Zhu Zhi Qing | |
August 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 66,931 | | |
| - | |
| Yee Sze Wei | |
August 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 22,362 | | |
| - | |
| Loo Tze Kian | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 50,000 | | |
| - | |
| Tan Choon Huat | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 100,000 | | |
| - | |
| Kan Yut Keong | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 167,853 | | |
| - | |
| Peh Ee Hong | |
July 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 120,000 | | |
| - | |
| Alok Mishra | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 90,000 | | |
| - | |
| Gurbinder Singh | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 38,927 | | |
| - | |
| Jarrod Seah Chi Nam | |
August 2025 and October 2026 | |
15.0 |
%(2) | |
None | |
| 100,000 | | |
| - | |
| Yap Poh Jin Bryan | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 38,927 | | |
| - | |
| Yvonne Lee | |
September 2025 and October 2026 | |
15.0 |
%(1) | |
None | |
| 200,000 | | |
| - | |
| Exchange rate different | |
| |
|
| |
| |
| 13,516 | | |
| - | |
| Total short-term loans – third parties | |
| |
|
| |
| |
$ | 4,166,615 | | |
$ | 2,219,102 | |
|