v3.26.1
Bank borrowings
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Bank borrowings

Note 10 - Bank borrowings

 

At December 31, 2025 and June 30, 2026, bank borrowings consisted of the following:

 

   Term of   Annual   December 31   June 30 
   repayments   interest rate   2025   2026 
              S$’000    S$’000 
Property loan (secured)    Within 27 years      3.75% (Dec 2025) 1.45% (June 2026)      398    392 
Total:              398    392 
                     
Representing: -                     
Within 12 months              10    11 
Between 2 – 3 years              11    30 
Over 3 – 5 years              35    29 
Over 5 years              342    322 
Long term debt             398    392 

 

Term loan of S$500,000 was an unsecured borrowing from OCBC bank in 2020 with an annual fixed interest rate of 2.5%. The loan is for a period of 5 years up to 2025. This amount was used to finance the expansion of the business. The term loan has matured in June 30, 2025.

 

Mortgage loan of S$420,000 was a secured borrowing from OCBC bank in 2023. The loan is for a period of 27 years up to 2050 with an annual variable interest rate of 4.82%. The variable interest rate has been revised to 1.45% as at June 30, 2026 by OCBC bank. This amount was used to finance the purchasing of our office at 7030 Ang Mo Kio Avenue 5 #09-102 Singapore 569880.

 

The Company’s bank borrowings currently are guaranteed by a personal guarantee from Joyce Lee Jue Hui, director and shareholder of the Company.