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Consolidated Balance Sheets
Dec. 31, 2023
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
SGD ($)
Current assets      
Cash $ 3,316,946 $ 4,482,359 $ 1,889,817
Restricted cash 100,000
Accounts receivable, net 2,611,387 3,528,901 3,415,966
Contract assets 3,781,670 5,110,365 7,023,941
Prepayments and other current assets 85,159 115,080 112,028
Total current assets 9,974,830 13,479,499 12,541,752
Non-current assets      
Property, plant and equipment 2,732,338 3,692,349 3,850,803
Deferred offering cost 613,059 828,458 522,987
Deferred tax assets, net 198,478 268,213 272,778
Total non-current assets 3,543,875 4,789,020 4,646,568
Total assets 13,518,705 18,268,519 17,188,320
Current liabilities      
Accounts payable 1,836,108 2,481,227 2,081,389
Contract liabilities 1,097,388 1,482,957 425,332
Current portion of bank borrowings 1,071,495 1,447,966 1,150,176
Dividend payable 4,304,783 5,817,274 5,817,274
Financing lease liabilities- current 12,343 16,680 16,680
Accrued expenses and other current liabilities 470,488 635,795 538,646
Tax payable 227,379 307,269 196,581
Total current liabilities 9,081,691 12,272,556 10,376,504
Non-current liabilities      
Financing lease liabilities- non-current 8,229 11,120 27,800
Bank borrowings, non-current 658,844 890,330 1,694,188
Total non-current liabilities 667,073 901,450 1,721,988
Total liabilities 9,748,764 13,174,006 12,098,492
Total liabilities 9,748,764 13,174,006 12,098,492
Commitments and contingencies
Shareholders’ equity      
Ordinary shares, 500,000,000 shares authorized; US$0.001 par value, 11,250,000* shares issued and outstanding as of December 31, 2022 and 2023, respectively 11,250 15,203 15,203
Additional paid in capital 1,986,064 2,684,797 2,684,797
Retained earnings 1,772,627 2,394,513 2,389,828
Total shareholders' equity 3,769,941 5,094,513 5,089,828
Total liabilities and shareholders' equity 13,518,705 18,268,519 17,188,320
Related Party [Member]      
Current assets      
Other receivables - related parties 179,668 242,794
Current liabilities      
Due to related parties $ 61,707 $ 83,388 $ 150,426