| RELATED PARTIES |
| |
i) |
Transactions
with key management personnel |
| |
a) |
Key
management personnel compensation |
Compensation
to Directors and executive officers of the Group comprised the following:
| | |
2025 | | |
2024 | | |
2023 | |
| | |
USD | | |
USD | | |
USD | |
| Short-term employee benefits | |
| 521,801 | | |
| 684,902 | | |
| 449,068 | |
| Share-based compensation | |
| 3,154,000 | | |
| 136,800 | | |
| - | |
| |
b) |
Key
management personnel transactions |
The
aggregate value of transactions and outstanding balances related to key management personnel and entities over which they have control
or significant influence were as follows.
| | |
Transaction
values for the years
ended December 31, | | |
Balance
outstanding as at
December 31, | |
| | |
2025 | | |
2024 | | |
2023 | | |
2025 | | |
2024 | |
| | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | |
| Repayment (from)/loan to a shareholder,
net*** | |
| (25,576 | ) | |
| 211,102 | | |
| (458,403 | ) | |
| (245,962 | ) | |
| (207,636 | ) |
| Payment
made on behalf of the Company by a shareholder and amount due to a shareholder * | |
| (173,502 | ) | |
| (6,144 | ) | |
| (59,559 | ) | |
| (245,111 | ) | |
| (64,854 | ) |
| Rental
expenses to a related party and rental payable to a director** | |
| - | | |
| - | | |
| (31,311 | ) | |
| - | | |
| - | |
| * | The
CEO paid the interest of convertible note on behalf of the Company. |
| ** | Amount
due to this related party represents the lease payable to the employee dormitory rented from a director. |
| *** | It
represented loan and advance from a shareholder which net off with the repayment for operational purposes. On September 10, 2024, Hong
Ye Group Private Limited entered into a loan agreement with the CEO, Fu Xiaowei. The loan amounted to S$450,000 which equal to $336,331
with 8% per annum interest-bearing was due on December 9, 2024 and extended to be repayable on demand. As of December 31, 2025, the outstanding
balance of the loan amounted to S$450,000. |
| | ii) | Other related party transactions |
| | |
Transaction
values for the
years ended December 31, | | |
Balance
outstanding as at
December 31, | |
| | |
2025 | | |
2024 | | |
2023 | | |
2025 | | |
2024 | |
| | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | |
| Prepayment to a related party | |
| 726,506 | | |
| 359,142 | | |
| - | | |
| 380,433 | | |
| 353,245 | |
| Upkeeping
and maintenance service provided by a related party and payable to a related party | |
| (341,218 | ) | |
| (90,809 | ) | |
| (40,083 | ) | |
| - | | |
| (29,773 | ) |
| Payment
made by the Company on behalf of a related party | |
| 80,969 | | |
| 33,147 | | |
| - | | |
| 114,004 | | |
| 32,603 | |
| Landscape
crew outsourcing service provided to a related party and receivable from a related party | |
| 26,112 | | |
| 35,530 | | |
| 32,153 | | |
| 5,775 | | |
| 65,285 | |
| Outdoor
landscape service provided by a related party and payable to a related party | |
| (24,065 | ) | |
| (7,332 | ) | |
| (6,143 | ) | |
| (11,934 | ) | |
| (4,995 | ) |
| YY App
license grant service provided to a related party | |
| - | | |
| - | | |
| 111,823 | | |
| - | | |
| - | |
| Back
charged lease payment to a related party | |
| 16,831 | | |
| - | | |
| - | | |
| 1,425 | | |
| - | |
| |
iii) |
Summary
of Related Party Balances |
| | |
As
of December 31, | |
| | |
2025 | | |
2024 | |
| | |
USD | | |
USD | |
| Amount due from related parties | |
| 501,637 | | |
| 451,133 | |
| Amount due to related parties | |
| (503,007 | ) | |
| (307,258 | ) |
|