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Leases (Tables)

12 Months Ended

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

X

- 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

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X

- 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

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X

- References

No definition available.

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X

- 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

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