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Related Party Balance and Transactions (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Related Party Transaction [Line Items]

Schedule of Accounts Receivable Related Party and Allowance for Credit Loss

Movement of the allowance for accounts receivable were as follows:

 Schedule of Allowance for Accounts Receivable

		December 31, 2022				December 31, 2023				December 31, 2023
		SGD				SGD				USD
Beginning balance			6,170				6,170				4,566
Addition			-				2,750				2,035
Write-off							(2,750	)			(2,035	)
Ending balance			6,170				6,170				4,566

Schedule of Due to Related Parties and Related Party Transactions

As of December 31, 2023 and June 30, 2024, the balances of amount due to related parties were as follows:

Schedule of Due to Related Parties and Related Party Transactions 

		December 31, 2023				June 30, 2024				June 30, 2024
		SGD				SGD				USD
Due to related parties
Kelvin Ang			83,388				196,528				145,431
Total			83,388				196,528				145,431

FBS GLOBAL LIMITED

Notes to Interim Condensed Consolidated Financial Statements (Unaudited)

d. Operating lease liabilities- related party

The Company enter a 24 months lease agreement with the related party on January 1, 2024 to rent the warehouse for storage purpose with a monthly rental fee at SGD 60,000.00 (USD 44,400). The Company accounts for the leases in accordance with ASC 842. The Company’s underlying warehouse were classified as operating leases, and the related lease liabilities were recorded under operating lease liabilities – related party (see Note 8).

e. Related party transactions

		For the six months ended June 30, 2023				For the six months ended June 30, 2024				For the six months ended June 30, 2024
		SGD				SGD				USD
Fastfixs Systems Pte Ltd
Consultation fee			11,000				141,000				104,340
Supply of labour			-				107,320				79,417
54 Pandan Road Pte Ltd
Rental of warehouse			-				360,000				266,400

As of December 31, 2022 and 2023, the balances of amount due to related parties were as follows:

Schedule of Due to Related Parties and Related Party Transactions

		2022				2023				2023
		SGD				SGD				USD
Due to related parties
Kelvin Ang			150,426				83,388				61,707
Total			150,426				83,388				61,707

FBS GLOBAL LIMITED

Notes to Consolidated Financial Statements

d. Related party transactions

		2022				2023				2023
		SGD				SGD				USD
Fine Build-Ninefold Group Construction Company (Private) Limited
Supply construction material			25,633				-				-
54 Pandan Road Pte Ltd
Rental of warehouse			30,000				-				-
Fastfixs Systems Pte Ltd
Consultation fee			-				138,000				102,120
Supply of labors							43,004				31,823

Related Party [Member]

Related Party Transaction [Line Items]

Schedule of Accounts Receivable Related Party and Allowance for Credit Loss

As of December 31, 2023 and June 30, 2024, the balances of Accounts receivable – related party were as follows:

Schedule of Accounts Receivable Related Party and Allowance for Credit Loss 

				December 31, 2023				June 30, 2024				June 30, 2024
				SGD				SGD				USD
Accounts receivable – related party
Fine Build-Ninefold Group Construction Company (Private) Limited		(1)			971,780				1,001,185				740,877
Provision for credit losses		(1)			(971,780	)			(1,001,185	)			(740,877	)
Total					-				-				-

FBS GLOBAL LIMITED

Notes to Condensed Consolidated Financial Statements (Unaudited)

Movement of the provision of credit losses were as follows:

		December 31, 2023				June 30, 2024				June 30, 2024
		SGD				SGD				USD
Beginning balance			990,941				971,780				719,117
Exchange rate effect			(19,161	)			29,405				21,760
Ending balance			971,780				1,001,185				740,877

As of December 31, 2022 and 2023, the balances of Accounts receivable – related party were as follows:

Schedule of Accounts Receivable Related Party and Allowance for Credit Loss

						2022				2023				2023
						SGD				SGD				USD
Accounts receivable – related party
Fine Build-Ninefold Group Construction Company (Private) Limited			(1)				990,941				971,780				719,117
Allowance for credit loss			(1)				(990,941	)			(971,780	)			(719,117	)
Total							-				-				-

FBS GLOBAL LIMITED

Notes to Consolidated Financial Statements

Movement of the allowance for credit loss were as follows:

		2022				2023				2023
		SGD				SGD				USD
Beginning balance			970,573				990,941				733,296
Addition			20,368				-				-
Exchange rate effect			-				(19,161	)			(14,179	)
Ending balance			990,941				971,780				719,117

Schedule of Other Receivable Related Party Allowance for Credit Loss

As of December 31, 2023 and June 30, 2024, the balances of other receivables-related parties were as follows:

Schedule of Other Receivable Related Party Allowance for Credit Loss 

				December 31, 2023				June 30, 2024				June 30, 2024
				SGD				SGD				USD
Other receivables – related parties
Fine Build-Ninefold Group Construction Company (Private) Limited		(3)			575,200				592,605				438,528
Provision for credit losses		(3)			(575,200	)			(592,605	)			(438,528	)
54 Pandan Road Pte Ltd		(2)			212,794				-				-
Ang Poh Hwee		(4)			30,000				27,631				20,447
Total					242,794				27,631				20,447

Movement of the provision of credit losses were as follows:

		December 31, 2023				June 30, 2024				June 30, 2024
		SGD				SGD				USD
Beginning balance			586,542				575,200				425,648
Exchange rate effect			(11,342	)			17,405				12,880
Ending balance			575,200				592,605				438,528

(1) Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.

(2) The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date hereof, the Company has fully collected back.

(3) Management service provided to the Joint Venture company.

(4) The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.

As of December 31, 2022 and 2023, the balances of other receivables-related parties were as follows:

Schedule of Other Receivable Related Party Allowance for Credit Loss

						2022				2023				2023
						SGD				SGD				USD
Other receivables – related parties
Fine Build-Ninefold Group Construction Company (Private) Limited			(3)				586,542				575,200				425,648
Allowance for credit loss			(3)				(586,542	)			(575,200	)			(425,648	)
54 Pandan Road Pte Ltd			(2)				-				212,794				157,468
Ang Poh Hwee			(4)				-				30,000				22,200
Total							-				242,794				179,668

Movement of the allowance for credit loss were as follows:

		2022				2023				2023
		SGD				SGD				USD
Beginning balance			589,638				586,542				434,041
Exchange rate effect			(3,096	)			(11,342	)			(8,393	)
Ending balance			586,542				575,200				425,648

(1)	Supply construction material to the Joint Venture company. The Company may not be able to collect amounts due under COVID-19’s negative impact to the joint venture’s operation and financial condition, and the Company reserved 100% allowance for credit loss.
(2)	The Company approved a loan to 54 Pandan Road Pte Ltd on April 10 ,2023, provided the loan of SGD2 million, with no interest. As of the date of this report, the Company has collected back all the loan from 54 Pandan Road Pte Ltd.
(3)	Management service provided to the Joint Venture company.
(4)	The Company paid on behalf the director for a legal case between Newspaper Seng Pte Ltd and Ang Poh Hwee.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

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-SubTopic 220
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-Section S99
-Paragraph 1
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-Publisher FASB
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