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BANK BORROWINGS | 12 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
BANK BORROWINGS | NOTE－11 BANK BORROWINGS Bank borrowings consisted of the following: SCHEDULE OF BANK BORROWINGS
|  | repayments |  | interest rate |  |  | 2023 |  |  | 2024 |
|  | Term of |  | Annual |  |  | As of June 30, |
|  | repayments |  | interest rate |  |  | 2023 |  |  | 2024 |
|  |  |  |  |  |  | S$ |  |  | S$ |
Term loans |  | Within 5 years |  |  | 2.5-3.25 | % |  |  | 1,550,230 |  |  |  | 943,784 |
Trust receipts |  | Within 150 days |  |  | 6.2 | % |  |  | 200,751 |  |  |  | 135,815 |
Long term debt |  |  |  |  |  |  |  |  | 1,750,981 |  |  |  | 1,079,599 |
Representing: - |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within 12 months |  |  |  |  |  |  |  |  | 814,093 |  |  |  | 756,182 |
Over 1 year |  |  |  |  |  |  |  |  | 936,888 |  |  |  | 323,417 |
Long term debt |  |  |  |  |  |  |  |  | 1,750,981 |  |  |  | 1,079,599 |
As of June 30, 2023 and 2024, bank borrowing was obtained from a financial institution in Singapore, which bear annual interest at a fixed rate at 2.5-3.25% and variable rate at 6.2%. Bank borrowings are repayable in 150 days- 5 years. Our Company’s bank borrowing is guaranteed under a personal guarantee from our Company’s Directors.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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