Amounts
due to related parties consisted of the following:
SCHEDULE OF DUE TO RELATED PARTIES
| | |
As of June 30, 2026 | | |
As of December 31 2025 | |
| | |
$’000 | | |
$’000 | |
| | |
| | |
| |
| Due to ultimate holding company (dividend payable)(1) | |
| 2,288 | | |
| 3,246 | |
| Auto Saver Pte. Ltd (2) | |
| 244 | | |
| 110 | |
| EU Group Pte. Ltd.(5) | |
| (11 | ) | |
| 455 | |
| N-United Pte Ltd(3) | |
| 1,397 | | |
| 1,400 | |
| Fleetzone Autoparts (M) Sdn. Bhd.(2) | |
| 193 | | |
| 208 | |
| Due to directors(4) | |
| 70 | | |
| 47 | |
| | |
| | | |
| | |
| Amounts
due to related parties | |
| 4,181 | | |
| 5,467 | |
*
These are related to the figures which are immaterial.
| |
(1) |
The
amounts due to ultimate holding company are unsecured and not payable on demand. The ultimate holding company became a controlling
shareholder of the Company. |
| |
(2) |
Soon
Aik, the controlling shareholder of the Company and is also the controlling shareholder of Auto Saver Pte. Ltd. and Fleetzone Autoparts
(M) Sdn. Bhd.. |
| |
(3) |
CE
Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”).
SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with
Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami
Corporation in Japan. |
| |
(4) |
The
amounts due to directors are unsecured, interest-free and repayable on demand. |
| |
(5) |
Jimmy
Neo owns a 50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels
& Drums Industries Pte. Ltd.. |
|