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Note 10 - Credit facilitates: Schedule of banking facilities (Tables) | 12 Months Ended
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Dec. 31, 2024
Tables/Schedules |
Schedule of banking facilities |
Lender |  | Term |  | Interest rate |  | Collateral/Guarantee |  | As of December 31, 2024 |  |  | As of December 31, 2023 |
United Overseas Bank Limited (“UOB”) |  | Varies from 36 monthly instalment, 72 monthly instalments, and 168 monthly instalments from the first date of first disbursement |  | Effective on September 20, 2022, the repriced interest rate changes to1st year and 2nd year fixed at 1.20% over the applicable 3-month compounded Singapore Overnight Rate Average (“SORA”); 3rd year and thereafter 2.00% over the applicable 3-month compounded SORA |  | Guaranteed by Mr. Wanjun Yao, the major shareholder, Mr. Jinan Tang, senior manager, Mrs. Liling Du, director, Mr. Demin Han, director, and the properties of Tung Resources |  | $ | - |  |  | $ | 762,025 |
DBS Bank, Ltd. (“DBS”) |  | 300 monthly instalments from the date of first disbursement |  | Effective on June 6, 2022, the repriced interest rate changes to 1st year and 2nd year fixed rate at 2.58%; SORA in-advance plus 3.00% (Margin) |  | Guaranteed by Mr. Wanjun Yao, the major shareholder, and the properties of Tung Resources |  |  | 1,241,762 |  |  |  | 1,329,526 |
Standard Chartered Bank |  | 180 months from the date of first disbursement |  | 1st year and 2nd year fixed at 0.38% above fixed deposit rate, thereafter fixed at 1.78% above fixed deposit rate (the current 36-month fixed deposit rate for a 36-month Singapore dollar time deposit is 1.02% per annum) |  | Guaranteed by Mr. Wanjun Yao, major shareholder, Mr. Jinan Tang, senior manager, and the properties of Tungray Singapore |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  | 1,241,762 |  |  |  | 2,091,551 |
Total current portion of banking facilities |  |  |  |  |  |  |  |  | (80,588 | ) |  |  | (140,162 | )
Total noncurrent portion of banking facilities |  |  |  |  |  |  |  | $ | 1,161,174 |  |  | $ | 1,951,389 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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