LOANS AND BORROWINGS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Borrowings [abstract] |
|
| Schedule of Loans and Borrowings |
| | |
As
of
December 31,
2025 | | |
As
of
December 31,
2024 | |
| | |
USD | | |
USD | |
| Current | |
| | |
| |
| Guaranteed bank loan | |
| 348,957 | | |
| 364,457 | |
| Financial institution loan | |
| 602,897 | | |
| 441,079 | |
| Recourse liability | |
| 4,423,508 | | |
| 2,397,078 | |
| | |
| 5,375,362 | | |
| 3,202,614 | |
| Lease liabilities | |
| 429,634 | | |
| 226,707 | |
| | |
| 5,804,996 | | |
| 3,429,321 | |
| | |
| | | |
| | |
| Non-current | |
| | | |
| | |
| Guaranteed bank loan | |
| 562,260 | | |
| 144,365 | |
| Financial institution loan | |
| 65,266 | | |
| - | |
| Warrant liabilities | |
| 1,213,340 | | |
| 46,518 | |
| Lease liabilities | |
| 1,099,767 | | |
| 985,879 | |
| | |
| 2,940,633 | | |
| 1,176,762 | |
| Total
loans and borrowings | |
| 8,745,630 | | |
| 4,606,083 | |
|
| Schedule of Terms and Debt Repayment |
Terms and debt repayment schedule | | | Currency | | Principal amount | | | Year of origination | | Nominal
interest
rate %
per annum | | | Year of maturity | | 2025 | | | 2024 | | | 2025 | | | | | | | | | | | | | | USD | | | USD | | | Guaranteed bank loan | | SGD | | | 400,000.00 | | | 2020 | | | 2.75 | % | | 2025 | | | - | | | | 51,960 | | | Guaranteed bank loan | | SGD | | | 1,200,000.00 | | | 2020 | | | 2.50 | % | | 2025 | | | - | | | | 108,703 | | | Guaranteed bank loan | | SGD | | | 300,000.00 | | | 2020 | | | 3.75 | % | | 2025 | | | - | | | | 15,980 | | | Guaranteed bank loan | | SGD | | | 300,000.00 | | | 2023 | | | 7.75 | % | | 2026 | | | 35,912 | | | | 110,848 | | | Guaranteed bank loan | | SGD | | | 300,000.00 | | | 2023 | | | 8.80 | % | | 2026 | | | 50,376 | | | | 123,515 | | | Financial institution loan | | SGD | | | 162,500.00 | | | 2025 | | | 21.00 | % | | 2026 | | | 22,641 | | | | - | | | Financial institution loan | | SGD | | | 100,000.00 | | | 2025 | | | 59.23 | % | | 2026 | | | 53,801 | | | | - | | | Financial institution loan | | SGD | | | 150,000.00 | | | 2025 | | | 36.00 | % | | 2026 | | | 21,890 | | | | - | | | Financial institution loan | | SGD | | | 200,000.00 | | | 2025 | | | 36.00 | % | | 2026 | | | 77,875 | | | | - | | | Financial institution loan | | SGD | | | 200,000.00 | | | 2025 | | | 24.06 | % | | 2026 | | | 131,875 | | | | - | | | Guaranteed bank loan | | SGD | | | 400,000.00 | | | 2026 | | | 8.19 | % | | 2030 | | | 311,502 | | | | - | | | Guaranteed bank loan | | SGD | | | 50,000.00 | | | 2023 | | | 8.25 | % | | 2028 | | | 20,832 | | | | 26,714 | | | Guaranteed bank loan | | SGD | | | 100,000.00 | | | 2023 | | | 8.28 | % | | 2028 | | | 40,389 | | | | 52,305 | | | Guaranteed bank loan | | SGD | | | 50,000.00 | | | 2023 | | | 10.38 | % | | 2026 | | | 6,173 | | | | 18,797 | | | Financial institution loan | | SGD | | | 150,000.00 | | | 2025 | | | 10.50 | % | | 2026 | | | 20,901 | | | | - | | | Guaranteed bank loan | | SGD | | | 1,000,000.00 | | | 2022 | | | 5.25 | % | | 2027 | | | 321,121 | | | | - | | | Financial institution loan | | SGD | | | 150,000.00 | | | 2025 | | | 8.25 | % | | 2027 | | | 196,299 | | | | - | | | Financial institution loan | | SGD | | | 80,000.00 | | | 2025 | | | 20.80 | % | | 2026 | | | 32,499 | | | | - | | | Financial institution loan | | SGD | | | 150,000.00 | | | 2025 | | | 14.36 | % | | 2027 | | | 110,381 | | | | - | | | Guaranteed bank loan | | SGD | | | 70,000.00 | | | 2021 | | | 2.50 | % | | 2026 | | | 2,863 | | | | - | | | Guaranteed bank loan | | SGD | | | 300,000.00 | | | 2021 | | | 2.70 | % | | 2034 | | | 122,050 | | | | - | | | Financial institution loan | | SGD | | | 400,000 | | | 2024 | | | 10.80 | % | | 2025 | | | - | | | | 294,053 | | | Financial institution loan | | SGD | | | 200,000 | | | 2024 | | | 10.80 | % | | 2025 | | | - | | | | 147,026 | | | Recourse liability | | SGD | | | N/A | | | N/A | | | 7.0%-7.7 | % | | N/A | | | 4,423,508 | | | | 2,397,078 | | | Lease liabilities | | Multiple | | | N/A | | | 2019-2025 | | | 2.99% to 10.8 | % | | 2025-2031 | | | 1,529,401 | | | | 1,212,586 | | | | | | | | | | | | | | | | | | | | 7,532,290 | | | | 4,559,565 | |
|
| Schedule of Reconciliation of Movements of Liabilities and Equity to Cash Flows Arising from Financing Activities |
Reconciliation of movements of liabilities and equity to cash flows arising from financing activities
| | |
Bank
loan and financial institution | | |
Lease
liabilities | | |
Treasury
shares reserve | | |
Share
capital | | |
Total | |
| | |
USD | | |
USD | | |
USD | | |
USD | | |
USD | |
| Balance
at January 1, 2024 | |
| 1,240,523 | | |
| 84,322 | | |
| - | | |
| 3,564,150 | | |
| 4,888,995 | |
| Proceeds
from loans and borrowings | |
| 448,442 | | |
| - | | |
| - | | |
| - | | |
| 448,442 | |
| Shares repurchase-Payment | |
| - | | |
| - | | |
| (1,012,458 | ) | |
| - | | |
| (1,012,458 | ) |
| Payment
of bank loans and borrowings | |
| (707,046 | ) | |
| - | | |
| - | | |
| - | | |
| (707,046 | ) |
| Payment
of lease liabilities | |
| - | | |
| (269,292 | ) | |
| - | | |
| - | | |
| (269,292 | ) |
Net
proceeds from issue of Class A
ordinary shares | |
| - | | |
| - | | |
| - | | |
| 3,922,650 | | |
| 3,922,650 | |
| Total
changes from financing cash flows | |
| (258,604 | ) | |
| (269,292 | ) | |
| (1,012,458 | ) | |
| 3,922,650 | | |
| 2,382,296 | |
| Effect
of changes in foreign exchange rates | |
| (82,983 | ) | |
| (43,664 | ) | |
| - | | |
| (81,999 | ) | |
| (208,646 | ) |
| Other
changes | |
| | | |
| | | |
| | | |
| | | |
| | |
| Liability-related | |
| | | |
| | | |
| | | |
| | | |
| | |
| Recognition
of lease liabilities | |
| - | | |
| 1,373,518 | | |
| - | | |
| - | | |
| 1,373,518 | |
| Issuance
of warrants to underwriter | |
| - | | |
| - | | |
| - | | |
| (84,882 | ) | |
| (84,882 | ) |
| Interest
expense | |
| 50,965 | | |
| 67,702 | | |
| - | | |
| - | | |
| 118,667 | |
| Total
liability-related other changes | |
| 50,965 | | |
| 1,441,220 | | |
| - | | |
| (84,882 | ) | |
| 1,407,303 | |
| Payment
of offering cost- Offset with prepayment | |
| - | | |
| - | | |
| - | | |
| (2,039,513 | ) | |
| (2,039,513 | ) |
| Shares
repurchase-Offset with receivables | |
| - | | |
| - | | |
| (285,792 | ) | |
| - | | |
| (285,792 | ) |
| Total
equity-related other changes | |
| - | | |
| - | | |
| (285,792 | ) | |
| (2,039,513 | ) | |
| (2,325,305 | ) |
| Balance
at December 31, 2024 | |
| 949,901 | | |
| 1,212,586 | | |
| (1,298,250 | ) | |
| 5,280,406 | | |
| 6,144,643 | |
| Proceeds
from loans and borrowings | |
| 870,883 | | |
| - | | |
| - | | |
| - | | |
| 870,883 | |
| Payment
of bank loans and borrowings | |
| (1,169,783 | ) | |
| - | | |
| - | | |
| - | | |
| (1,169,783 | ) |
| Payment
of lease liabilities | |
| - | | |
| (522,525 | ) | |
| - | | |
| - | | |
| (522,525 | ) |
| Transfer
from treasury shares | |
| - | | |
| - | | |
| 39,355 | | |
| 13,424 | | |
| 52,779 | |
| Acquisition of subsidiary | |
| - | | |
| - | | |
| 6,560 | | |
| 13,387,819 | | |
| 13,394,379 | |
| Acquisition
of an asset | |
| - | | |
| - | | |
| - | | |
| 5,760,000 | | |
| 5,760,000 | |
| Acquisition
through business combinations | |
| 558,551 | | |
| - | | |
| - | | |
| - | | |
| 558,551 | |
| Issue
of ordinary shares and warrants | |
| - | | |
| - | | |
| - | | |
| 384,188 | | |
| 384,188 | |
| Total
changes from financing cash flows | |
| 1,209,552 | | |
| 690,061 | | |
| (1,252,335 | ) | |
| 24,825,837 | | |
| 25,473,115 | |
| Effect
of changes in foreign exchange rates | |
| 56,609 | | |
| 76,020 | | |
| | | |
| | | |
| 132,629 | |
| Other
changes | |
| | | |
| | | |
| | | |
| | | |
| | |
| Liability-related | |
| | | |
| | | |
| | | |
| | | |
| | |
| Recognition
of lease liabilities | |
| - | | |
| 626,038 | | |
| - | | |
| - | | |
| 626,038 | |
| Interest
expense | |
| 313,219 | | |
| 137,282 | | |
| - | | |
| - | | |
| 450,501 | |
| Total
liability-related other changes | |
| 313,219 | | |
| 763,320 | | |
| - | | |
| - | | |
| 1,076,539 | |
| Balance
at December 31, 2025 | |
| 1,579,380 | | |
| 1,529,401 | | |
| (1,252,335 | ) | |
| 24,825,837 | | |
| 26,682,283 | |
|
| Schedule of Warrants Liability |
The offering was closed on September 11, 2025.
| | |
USD | |
| Initial recognition of warrants
liability | |
| 84,881 | |
| Fair value adjustment
of warrant liability | |
| (38,363 | ) |
| Carrying amount of warrant
liability at December 31, 2024 | |
| 46,518 | |
| Fair value at issuance date | |
| 3,550,000 | |
| Fair value change of warrant
liabilities | |
| (2,383,178 | ) |
| Carrying
amount of warrant liabilities at December 31, 2025 | |
| 1,213,340 | |
|