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Related party balances and transactions
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related party balances and transactions

Note 14 – Related party balances and transactions

 

Nature of relationships with related parties

 

Related parties   Relationship
Ms. Rhonda Wong   Shareholder, Director, Chief Executive Officer

Ms. Race Wong

   Shareholder, Director, Chief Operating Officer
Mr. Loh Kim Kang David (“Mr. Loh”)   Shareholder, the Chairman of the board of Directors

 

 

Related party balances

 

Transaction nature  Name  As of December 31, 2023   As of June 30, 2024   As of June 30, 2024 
      SGD   SGD   USD 
                   
Amount due from  Anthill Corp   3,495i   3,495i   2,649 
                   
Amount due to  Ms. Wong Wan Chew   240,000ii   95,848iv   70,726 
                   
Amount due to  Ms Wong Wan Pei   188,425iii   104,181

iv

   76,875 

 

i On June 22, 2023, the Company extended payment for Notarization services for Anthill Corp in view of operational urgency. This amount will be recovered by December 31, 2024 from Anthill Corp.

 

ii On December 28, 2023, Ms. Wong Wan Chew made short-term advances to the Company S$240,000 for general working capital and general corporate purposes.

 

iii On March 10 and September 12, 2023, Ms. Wong Wan Pei paid on behalf of the Company using her credit card facility for PropertyGuru advertisement packages for the amounts of S$169,817 and S$110,000, respectively, while the Company repaid the monthly instalments. During the year, the accumulated credit card settlements amounted to S$291,392 and resulted an overpayment of S$11,575. On November 30, 2023, Ms. Wong Wan Pei made short-term advances to the Company S$200,000 for general working capital and general corporate purposes.

 

iv As of June 30, 2024, an amount of S$85,848 each in salaries of Ms. Wong Wan Chew and Ms. Wong Wan Pei were postponed and used for the Company’s working capital purposes without interest as agreed with the two directors. The Company also has an outstanding balance of S$10,000 and S$18,333 to Ms. Wong Wan Chew and Ms. Wong Wan Pei respectively for installment payments for PropertyGuru advertisement packages.

 

Related party transactions

 

Transaction nature  Name  June 30, 2023   June 30, 2024   June 30, 2024 
      SGD   SGD   USD 
Brokerage services provided to  Ms. Rhonda Wong   288(1)   2,100(1)   1,550 
Brokerage services provided to  Mr. David Loh   11,000(2)   -    - 
Emerging and other services to  Mr. David Loh   511,040(3)   -    - 
Emerging and other services to  Ms. Rhonda Wong   -    250(4)   184 
Emerging and other services to  Ms. Race Wong   -    4,770(5)   3,520 

 

  (1) Ms. Rhonda Wong engaged the Company to handle curtain cleaning services in the six months ended June 30, 2023, and Ms. Rhonda Wong paid the service fee of S$288. In the six months ended June 30, 2024, Ms. Rhonda Wong paid the rental commission to the Company, being S$2,100 (US$1,550) for engaging the Company to look for a tenant.
     
  (2) Mr. David Loh engaged the Company to look for a tenant for a property and was completed during the six months ended June 30, 2023. Mr. David Loh paid a service fee of S$11,000 to the Company.

 

  (3) On February 25, 2022, the Company entered into a services agreement with subsequent various orders with Mr. Loh. During the year ended December 31, 2023, revenue recognized for the services agreement with Mr. David Loh for S$511,040.

 

  (4) Ms. Rhonda Wong engaged the Company to provide curtain cleaning services and paid S$250 (US$184) for the service.

 

  (5) Ms. Race Wong engaged the Company to provide house cleaning services and paid S$4,770 (US$3,520) for the service.