Bank loans |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank loans |
The Company has a five-year S$750,000 fixed rate bank loan which expires in December 2025. The bank loan which carries interest of 3% per annum is secured by personal guarantee of two of the Company directors. As of December 31, 2024 and 2025, the carrying amount of the bank loan was S$161,719 and S$0 (fully repaid), respectively.
On March 23, 2023, the Company has another five-year S$500,000 fixed rate bank loan which expires in March 2028. The bank loan which carries interest of 7% per annum is secured by personal guarantee of two of the Company directors. As of December 31, 2024 and 2025, the carrying amount of the bank loan was S$386,123 and S$246,664 (US$191,822).
Interest expenses for the years ended December 31, 2024 and 2025 were S$34,902 and S$23,657 (US$18,397), respectively.
The maturities schedule is as follows:
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