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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2022
SGD ($)
Dec. 31, 2023
SGD ($)
Cash flows from operating activities:          
Net income $ 3,467 $ 4,685 $ 50,784 $ 68,627  
Adjustments to reconcile net income to net cash used in operating activities:          
Provision for credit losses 295,466 399,278   17,272  
Depreciation of property and equipment 119,666 161,711   146,709  
Deferred tax expense 3,378 4,565   1,077  
Changes in operating assets and liabilities:          
Accounts receivable (85,608) (115,685)   1,276,371  
Contract assets 1,122,616 1,517,048   (435,598)  
Account receivables-related parties   (20,368)  
Prepayments and other current assets (2,258) (3,052)   (60,274)  
Accounts payable 295,880 399,838   802,001  
Contract liabilities 782,643 1,057,625   (378,771)  
Taxes payable 81,909 110,688   (327,563)  
Accrued expenses and other current liabilities 71,890 97,149   (1,524,719)  
Net cash (used in) provided by operating activities 2,689,049 3,633,850   (435,236)  
Cash flows from investing activities:          
Purchase of property, plant & equipment (2,410) (3,257)   (102,241)  
Loan to related parties (836,200) (1,130,000)    
Collection from loans to related parties 656,532 887,206    
Net cash used in investing activities (182,078) (246,051)   (102,241)  
Cash flows from financing activities:          
Proceeds from bank borrowings 1,116,051 1,508,177   1,139,435  
Repayment of bank borrowings (1,490,541) (2,014,245)   (2,558,768)  
Payment of financing lease liabilities (12,343) (16,680)   (17,081)  
Proceeds from borrowings from related party 230,148 311,011   278  
Repayment of borrowings from related party (279,756) (378,049)   (383,588)  
Capital contribution   1,200,000  
Deferred offering cost (226,049) (305,471)   (522,987)  
Net cash used in financing activities (662,490) (895,257)   (1,142,711)  
Net (decrease) increase in cash and restricted cash 1,844,481 2,492,542   (1,680,188)  
Cash and restricted cash, beginning of year   1,989,817   3,670,005  
Cash and restricted cash, beginning of year 1,472,465        
Cash and restricted cash, end of year 3,316,946 4,482,359   1,989,817  
Cash and restricted cash, end of year 3,316,946   $ 1,472,465    
Supplemental disclosure information:          
Cash paid for income tax 19,618 26,511   361,788  
Cash paid for interest 55,688 $ 75,254   81,333  
Cash 3,316,946     1,889,817 $ 4,482,359
Restricted Cash     100,000
Total cash and restricted cash shown in the consolidated statements of cash flows $ 3,316,946     $ 1,989,817 $ 4,482,359