v3.26.3
Loans and Borrowings
 6 Months Ended
Jun. 30, 2026
Loans and Borrowings [Abstract]  
LOANS AND BORROWINGS

Note 10 — LOANS AND BORROWINGS

 

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

 

    As of     As of June 30,  
    December 31,
2025		     2026 (Unaudited)     2026 (Unaudited)  
    S$     S$     $  
Total loans and borrowings     576,751       470,137       363,293  
Less: loans and borrowings – current     217,680       226,771       175,235  
Loans and borrowings – non-current     359,071       243,366       188,058  

 

Bank borrowings are comprised of the following:

 

                      As of     As of June 30,  
Loans and borrowings   Principal
amount		     Maturity
Date		   Interest
Rate		   Repayment
Method		   December 31,
2025		     2026 (Unaudited)     2026 (Unaudited)  
    S$                 S$     S$     $  
ANEXT Bank Loan     300,000     January 26,
2028		   Fixed at 8.80%   Monthly Repayment     141,115       109,560       84,661  
Standard Chartered Bank Business Installment Loan     300,000     August 31, 2028   0.72% below prevailing Business Instalment Loan Board Rate   Monthly Repayment     174,179       144,137       111,380  
OCBC Business Term Loan     300,000     August 31, 2028   4.25% below prevailing Business Term Rate   Monthly Repayment     174,314       144,305       111,510  
DBS SME Working Capital Loan II     150,000     August 9, 2028   Fixed at 7.75%   Monthly Repayment     87,143       72,135       55,742  
Total loans and borrowings                         576,751       470,137       363,293  

 

 

For the year ended December 31, 2025 and the six months ended June 30, 2026, the effective interest rate of the Company’s loans and borrowings ranges from 2.75% to 8.80%, and 2.75% to 8.80%, respectively.

 

Interest expenses arising from the Company’s loans and borrowings for the year ended December 31, 2025 and the six months ended June 30, 2026 amounted to S$55,329 and S$21,743 ($16,801), respectively.

 

All loans and borrowings are secured over the joint and several personal guarantees from Ms. Siew Yian Lee and Mr. Heng Kong Chuan, the director and shareholders of the Company.

 

The maturity dates for the Company’s outstanding loans and borrowings as of June 30, 2026 are as follows:

 

For the year ending June 30,   S$     $  
2027     128,356       99,186  
2028     256,713       198,372  
2029     126,349       97,635  
Total loans and borrowings     511,418       395,193  
Less: Imputed interest     (41,281 )     (31,900 )
Present value of loans and borrowings     470,137       363,293