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Consolidated Balance Sheets
Dec. 31, 2024
SGD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
SGD ($)
Current assets      
Cash $ 3,373,424 $ 2,469,202 $ 698,106
Accounts receivable, net 45,477 33,286 314,572
Contract assets – current 4,618,205 3,380,329 4,813,313
Loan receivable – third party 2,621,944 1,919,151
Other assets – current 52,491 38,421 76,249
Total current assets 10,731,442 7,854,956 6,048,082
Non-current assets      
Property and equipment, net 3,546 2,596 7,861
Right-of-use assets, net 390,680 285,961 295,174
Contract assets – non-current 333,786 244,317
Other assets – non-current 72,354 52,960 411,070
Total non-current assets 800,366 585,834 714,105
Total assets 11,531,808 8,440,790 6,762,187
Current liabilities      
Accounts payable 1,669,596 1,222,073 1,354,368
Other payables and accruals 805,850 589,848 776,424
Loans and borrowings – current 256,729 187,915 429,603
Operating lease liabilities – current 170,776 125,001 136,566
Finance lease liabilities – current 45,032 32,961 62,778
Total current liabilities 4,002,580 2,929,718 3,363,968
Non-current liabilities      
Deferred tax liabilities, net 391,836 286,807 578,383
Loans and borrowings – non-current 579,071 423,855 836,662
Operating lease liabilities – non-current 96,921 70,942 42,217
Finance lease liabilities – non-current 80,476 58,905 73,173
Total non-current liabilities 1,148,304 840,509 1,530,435
Total liabilities 5,150,884 3,770,227 4,894,403
Shareholders’ equity      
Accumulated other comprehensive income 250,665 183,476
Additional paid-in capital 6,290,712 4,604,506 997,296
Retained earnings (accumulated deficit) (163,354) (119,569) 867,784
Total shareholders’ equity 6,380,924 4,670,563 1,867,784
Total liabilities and shareholders’ equity 11,531,808 8,440,790 6,762,187
Related Party      
Current assets      
Accounts receivable – a related party 19,901 14,567 145,842
Current liabilities      
Amount due to related parties 1,054,597 771,920 604,229
Class A Ordinary Shares      
Shareholders’ equity      
Ordinary shares value [1] 1,549 1,150 1,352
Class B Ordinary Shares      
Shareholders’ equity      
Ordinary shares value [1] $ 1,352 $ 1,000 $ 1,352
[1] The shares and per share information are presented on a retrospective basis to reflect the reorganization.