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Condensed Consolidated Balance Sheets
Jun. 30, 2024
USD ($)
Jun. 30, 2024
SGD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2023
SGD ($)
Dec. 31, 2022
SGD ($)
Current assets          
Cash $ 3,407,209 $ 4,604,336 $ 3,316,946 $ 4,482,359 $ 1,889,817
Restricted cash 100,000
Accounts receivable, net 1,124,856 1,520,076 2,611,387 3,528,901 3,415,966
Contract assets 3,926,499 5,306,079 3,781,670 5,110,365 7,023,941
Prepayments and other current assets 70,223 94,896 85,159 115,080 112,028
Total current assets 8,549,234 11,553,018 9,974,830 13,479,499 12,541,752
Non-current assets          
Property, plant and equipment 2,722,701 3,679,326 2,732,338 3,692,349 3,850,803
Deferred offering cost 825,406 1,115,413 613,059 828,458 522,987
Deferred tax assets, net 210,446 284,387 198,478 268,213 272,778
Right of use assets, net - related party 785,282 1,061,191    
Total non-current assets 4,543,835 6,140,317 3,543,875 4,789,020 4,646,568
Total assets 13,093,069 17,693,335 13,518,705 18,268,519 17,188,320
Current liabilities          
Accounts payable 1,129,377 1,526,188 1,836,108 2,481,227 2,081,389
Contract liabilities 1,031,479 1,393,890 1,097,388 1,482,957 425,332
Current portion of bank borrowings 809,582 1,094,030 1,071,495 1,447,966 1,150,176
Dividend payable 4,304,783 5,817,274 4,304,783 5,817,274 5,817,274
Financing lease liabilities- current 12,343 16,680 12,343 16,680 16,680
Operating Lease liabilities, current 520,604 703,518      
Accrued expenses and other current liabilities 658,258 889,539 470,488 635,795 538,646
Tax payable 95,265 128,736 227,379 307,269 196,581
Total current liabilities 8,707,122 11,766,383 9,081,691 12,272,556 10,376,504
Non-current liabilities          
Financing lease liabilities- non-current 2,057 2,780 8,229 11,120 27,800
Bank borrowings, non-current 331,019 447,322 658,844 890,330 1,694,188
Operating Lease liabilities, non-current 264,678 357,673      
Total non-current liabilities 597,754 807,775 667,073 901,450 1,721,988
Total liabilities 9,304,876 12,574,158 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 11,250 15,203 15,203
Additional paid in capital 1,986,064 2,684,797 1,986,064 2,684,797 2,684,797
Retained earnings 1,790,879 2,419,177 1,772,627 2,394,513 2,389,828
Total shareholders' equity 3,788,193 5,119,177 3,769,941 5,094,513 5,089,828
Total liabilities and shareholders' equity 13,093,069 17,693,335 13,518,705 18,268,519 17,188,320
Related Party [Member]          
Non-current assets          
Right of use assets, net - related party 785,282 1,061,191    
Current liabilities          
Operating Lease liabilities, current 520,604 703,518    
Non-current liabilities          
Operating Lease liabilities, non-current 264,678 357,673    
Related Party [Member]          
Current assets          
Other receivables - related parties 20,447 27,631 179,668 242,794
Current liabilities          
Due to related parties $ 145,431 $ 196,528 $ 61,707 $ 83,388 $ 150,426