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Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2022
SGD ($)
Dec. 31, 2021
SGD ($)
Dec. 31, 2020
SGD ($)
Statement of Cash Flows [Abstract]        
Net income $ 889 $ 1,192 $ 2 $ 1,727
Adjustment:        
Depreciation and amortization 501 672 614 769
(Gain)/Loss on disposal of property, plant and equipment 27 36 (71)
Reversal/ provision of loss allowance (49) 63
Change in fair value of financial instruments (1) (2) (3) (1)
Changes in operating assets:        
(Increase)/ decrease in inventories (6,964) (9,335) (1,177) 1,597
Decrease/(increase) of accounts receivable (1,861) (2,495) 5,537 (4,549)
Increase/(decrease) of accounts payable, accruals and other current liabilities 3,501 4,693 (1,480) 1,508
Cash provided by/(used in) operating activities (3,908) (5,239) 3,373 1,114
Proceeds from disposal of property, plant and equipment 15 20 71
Purchase of property, plant and equipment (610) (817) (788) (280)
Cash used in investing activities (595) (797) (717) (280)
Proceeds from bank loans 1,750
Net proceeds from/(repayment of) controlling shareholder loan (583) (782) 1,523
Repayment of bank loans (233) (312) (2,094) (669)
Dividends paid (2,900)
Principal payment of lease liabilities (95)
Proceeds from issuance of shares 11,139 14,931
Placement of deposit with escrow agent (600) (804)
Payment of deferred financing costs (1,153) (1,546) (361) (417)
Cash (used in)/provided by financing activities 8,570 11,487 (2,082) (1,181)
Foreign currency effect 1 2 (16) 54
Net change in cash and cash equivalents 4,068 5,453 558 (293)
Cash and cash equivalents as of beginning of the year 827 1,108 550 843
Cash and cash equivalents as of the end of the year 4,895 6,561 1,108 550
Supplementary Cash Flows Information        
Cash paid for interest 236 317 217 320
Cash paid for taxes $ 531 $ 62