Contract Assets (Liabilities)

6 Months Ended

Jun. 30, 2026

Contract Assets (Liabilities) [Abstract]

Note 5 — CONTRACT ASSETS (LIABILITIES)

Contract assets consisted of the following:

	As of		As of June 30,
	December 31, 2025		2026 (Unaudited)		2026 (Unaudited)
	S$		S$		$
Revenue recognized to date		29,523,955		34,691,666		26,807,562
Less: Progress billings to date		25,147,005		29,224,262		22,582,692
Contract assets		4,376,950		5,467,404		4,224,869
Contract assets – current		4,287,038		5,377,492		4,155,391
Contract assets – non-current		89,912		89,912		69,478

Contract assets are classified as current and non-current based on whether they have exceeded the maintenance period.

While the project has been completed, the Company continues to provide maintenance services and is progressively recovering the associated Contract asset. Based on the Company’s assessment, there is a high likelihood of full recovery for this contract asset. Consequently, no impairment provision is deemed necessary for this project at this time.

The movement in contract liabilities is as follows:

	As of		As of June 30,
	December 31, 2025		2026 (Unaudited)			2026 (Unaudited)
	S$		S$			$
Balance at beginning of the year/period		—		18,153			—
Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year		—		(18,153	)		—
Increase in contract liabilities as a result of billings in advance of performance obligation under contracts		18,153		—			—
Balance at end of the year/period		18,153		—			—