| TRADE AND OTHER PAYABLES |
| 14 | TRADE
AND OTHER PAYABLES |
| | |
As of
December 31,
2025 | | |
As of
December 31,
2024 | |
| | |
USD | | |
USD | |
| Trade payables: | |
| | |
| |
| Amount due to third parties | |
| 2,673,054 | | |
| 1,260,351 | |
| | |
| | | |
| | |
| Other payables: | |
| | | |
| | |
| Accrued payroll and pension | |
| 3,054,727 | | |
| 1,055,415 | |
| Accrued operating expenses | |
| 500,240 | | |
| 136,268 | |
| Loan from a third party (interest-bearing)* | |
| 506,191 | | |
| 477,836 | |
| GST payables | |
| 1,716,568 | | |
| 983,659 | |
| Provision for taxation | |
| 181,756 | | |
| 246,219 | |
| Unpaid consideration for acquisition of subsidiaries (Note 8) | |
| 1,452,746 | | |
| - | |
| Amount due to directors of subsidiaries** | |
| 361,633 | | |
| - | |
| Others | |
| 390,610 | | |
| 63,365 | |
| Total trade and other payables | |
| 10,837,525 | | |
| 4,223,113 | |
These
amounts are non-interest bearing except a third party loan mentioned below. Trade payables are normally settled on 90 days’ terms.
| * | The
balance represents a loan from a third party amounting to S$650,000 which equal to $506,191 which is interest-bearing at 8% per annum
and repayable on demand. |
| ** | The
amount represents non-trade balances that are unsecured, interest-free and repayable on demand. |
The
remaining other payables to third parties are non-interest bearing and have an average term of 3 months.
The
exposure of trade and other payables to liquidity risk is disclosed in Note 24.
|