| Schedule of Contract Assets |
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 | |
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| Schedule of Movement in Contract Liabilities |
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 | | | | — | | | | — | |
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