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CONTRACT LIABILITIES
12 Months Ended
Dec. 31, 2022
Contract Liabilities  
CONTRACT LIABILITIES

12. CONTRACT LIABILITIES

 

Contract liabilities primarily relate to the advance consideration received from customers.

 

Movement in contract liabilities:

 

   2021   2022 
   SGD’000   SGD’000 
As of January 1,        -    - 
Decrease in contract liabilities as a result of recognizing revenue during the year that was included in the contract liabilities at the beginning of the year   -    - 
Increase in contract liabilities as a result of receiving forward sales deposits and instalments during the year in respect of machines still under production   -    4,319 
          
As of December 31,   -    4,319