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AMOUNTS DUE FROM RELATED PARTIES
 12 Months Ended
Dec. 31, 2022
Amounts Due From Related Parties  
AMOUNTS DUE FROM RELATED PARTIES

NOTE－6 AMOUNTS DUE FROM RELATED PARTIES

 

Amounts due from related parties consisted of the following:

 

          
   As of December 31, 
   2022   2021  
   $’000   $’000  
          
Due from related parties:           
- MWE Investment Pte Ltd(1)   3    -  
- Multi Ways Holdings Limited   47    -  
- Yin Zhan Holding Pte Ltd(2)   -    12  
            
Due to related parties   50    12  

 

The related party of the Company is as follows:

 

(1)

Mr. James Lim, Ms Lee NG and Ms Maggie Lim are the directors, and they are also the shareholders and hold 88% stake in MWE Investment Pte Ltd.

(2) Mr. James Lim is the director and shareholder, and he holds 51% stake in Yin Zhan Holding Pte Ltd.

 

The amounts are unsecured, interest-free and repayable on demand.