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v3.25.1

Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Finance and Operating leases | The following table shows finance lease liabilities and the associated financial statement line items:
|  | As of December 31, |
|  | 2023 |  |  | 2023 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | $ |
Liabilities |  |  |  |  |  |  |  |  |
Finance lease liabilities – current |  |  | 62,778 |  |  |  | 45,032 |  |  |  | 32,961 |
Finance lease liabilities – non-current |  |  | 73,173 |  |  |  | 80,476 |  |  |  | 58,905 |
Total |  |  | 135,951 |  |  |  | 125,508 |  |  |  | 91,866 |
As of December 31, 2023 and 2024, “Right-of-use assets, net” consisted of the following:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | $ |
Motor vehicles under hire purchase |  |  | 230,334 |  |  |  | 183,073 |  |  |  | 134,003 |
Leased office equipment |  |  | 73,830 |  |  |  | 71,434 |  |  |  | 52,286 |
Less: Accumulated amortization |  |  | (186,084 | ) |  |  | (135,482 | ) |  |  | (99,168 | )
Right-of-use assets (finance lease), net |  |  | 118,080 |  |  |  | 119,025 |  |  |  | 87,121 |
Information related to finance lease activities during the periods are as follows:
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2024 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | $ |
Finance lease expenses |  |  |  |  |  |  |  |  |
Amortization |  |  | 62,346 |  |  |  | 52,031 |  |  |  | 38,084 |
Interest of financing lease liabilities |  |  | 8,877 |  |  |  | 8,267 |  |  |  | 6,051 |
The following table shows the weighted-average lease terms and discount rates for finance leases:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |
Weighted average remaining lease term (Years) |  |  |  |  |  |
Finance leases |  |  | 2.70 |  |  |  | 2.91 |
Weighted average discount rate (%) |  |  |  |  |  |  |  |
Finance leases |  |  | 5.67 |  |  |  | 5.21 |
The following table shows operating lease liabilities and the associated financial statement line items:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | $ |
Liabilities |  |  |  |  |  |  |  |  |
Operating lease liabilities – current |  |  | 136,566 |  |  |  | 170,776 |  |  |  | 125,001 |
Operating lease liabilities – non-current |  |  | 42,217 |  |  |  | 96,921 |  |  |  | 70,942 |
Total |  |  | 178,783 |  |  |  | 267,697 |  |  |  | 195,943 |
As of December 31, 2023 and 2024, “Right-of-use assets, net” consisted of the following:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | $ |
Leasehold buildings |  |  | 518,964 |  |  |  | 717,262 |  |  |  | 525,005 |
Less: Accumulated amortization |  |  | (341,870 | ) |  |  | (445,607 | ) |  |  | (326,165 | )
Right-of-use assets (operating lease), net |  |  | 177,094 |  |  |  | 271,655 |  |  |  | 198,840 |
Information related to operating lease activities during the periods are as follows:
|  | For the Years Ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2024 |
|  | S$ |  |  | S$ |  |  | S$ |  |  | $ |
Operating lease expenses |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 117,878 |  |  |  | 129,675 |  |  |  | 173,256 |  |  |  | 126,816 |
Interest of operating lease liabilities |  |  | 9,953 |  |  |  | 7,157 |  |  |  | 6,576 |  |  |  | 4,813 |
The following table shows the weighted-average lease terms and discount rates for operating leases:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |
Weighted average remaining lease term (Years) |  |  |  |  |  |
Operating leases |  |  | 1.35 |  |  |  | 1.56 |
Weighted average discount rate (%) |  |  |  |  |  |  |  |
Operating leases |  |  | 3.75 |  |  |  | 3.42 |
Schedule of Future Finance Lease Payments | Future finance lease payments as of December 31, 2024 are detailed as follows:
Finance leases |  | S$ |  |  | $ |
2025 |  |  | 50,172 |  |  |  | 36,724 |
2026 |  |  | 44,846 |  |  |  | 32,825 |
2027 |  |  | 29,388 |  |  |  | 21,511 |
2028 and hereafter |  |  | 10,249 |  |  |  | 7,502 |
Total future lease payment |  |  | 134,655 |  |  |  | 98,562 |
Less: Imputed interest |  |  | (9,147 | ) |  |  | (6,696 | )
Present value of finance lease liabilities |  |  | 125,508 |  |  |  | 91,866 |
Less: Current portion |  |  | (45,032 | ) |  |  | (32,961 | )
Long-term potion of finance lease liabilities |  |  | 80,476 |  |  |  | 58,905 |
Schedule of Future Operating Lease Payments | Future operating lease payments as of December 31, 2024 are detailed as follows:
Operating leases |  | S$ |  |  | $ |
2025 |  |  | 176,613 |  |  |  | 129,273 |
2026 |  |  | 98,171 |  |  |  | 71,857 |
2027 and hereafter |  |  | — |  |  |  | — |
Total future lease payment |  |  | 274,784 |  |  |  | 201,130 |
Less: Imputed interest |  |  | (7,087 | ) |  |  | (5,187 | )
Present value of operating lease liabilities |  |  | 267,697 |  |  |  | 195,943 |
Less: Current portion |  |  | (170,776 | ) |  |  | (125,001 | )
Long-term potion of operating lease liabilities |  |  | 96,921 |  |  |  | 70,942 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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