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BANK LOANS | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
BANK LOANS | 9. BANK LOANS The bank loans as of December 31, 2021 and 2022 are set out below: SCHEDULE OF BANK LOANS
Bank loans |  | Currency |  | Period |  | Interest rate |  | Third Party guarantee |  | Directors’ Personal guarantee |  |  | Carrying amount |
|  |  |  |  |  |  |  |  |  |  |  |  | SGD’000 |
Secured floating rate bank loans |  | SGD |  | 2021 - 2026 |  | SIBOR+1.25% to +1.5% |  | NIL |  |  |  |  |  |  | 9,692 |
|  | USD |  | 2029 |  | London Inter Bank Offer Rate +1.25% |  | NIL |  |  |  |  |  |  | 186 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  | 3,430 |  |  |  | 9,878 |
Secured floating rate bank loans |  | SGD |  | 2022 - 2026 |  | SIBOR+1.25% to +1.5% |  | NIL |  |  |  |  |  |  | 9,269 |
|  | USD |  | 2029 |  | London Inter Bank Offer Rate +1.25% |  | NIL |  |  |  |  |  |  | 164 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  | 3,430 |  |  |  | 9,433 |
Other than directors’ personal guarantee, the bank loans are secured by corporate guarantee provided the Company, financial instrument (Note 5), leasehold buildings (Note 6) and operating lease ROU asset (Note 7). SCHEDULE OF MATURITIES OF BANK LOANS
Bank loans |  | Carrying amount |  |  | Within 1 year |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | Thereafter |
|  | SGD’000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured floating rate bank loans |  |  | 9,692 |  |  |  | 5,432 |  |  |  | 437 |  |  |  | 198 |  |  |  | 180 |  |  |  | 180 |  |  |  | 3,265 |
|  |  | 186 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 66 |
December 31, 2021 |  |  | 9,878 |  |  |  | 5,456 |  |  |  | 461 |  |  |  | 222 |  |  |  | 204 |  |  |  | 204 |  |  |  | 3,331 |
|  | Carrying amount |  |  | Within 1 year |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |
Secured floating rate bank loans |  |  | 9,269 |  |  |  | 5,437 |  |  |  | 194 |  |  |  | 180 |  |  |  | 180 |  |  |  | 180 |  |  |  | 3,098 |
|  |  | 164 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 24 |  |  |  | 44 |
December 31, 2022 |  |  | 9,433 |  |  |  | 5,461 |  |  |  | 218 |  |  |  | 204 |  |  |  | 204 |  |  |  | 204 |  |  |  | 3,142 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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