NOTES TO THE STATEMENT OF FINANCIAL POSITION OF THE COMPANY AS AT 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) 1. Basis of Preparation and Material Accounting Policy Information The Statement of Financial Position of the Company is prepared in accordance with Singapore Financial Reporting Standards (International) ("SFRS(I)s"). The Statement of Financial Position of the Company has been prepared on the historical cost convention, except as otherwise described in the accounting policies below. The Statement of Financial Position of the Company are presented in Singapore dollars (SGD) which is the Company’s functional currency. All values are rounded to the nearest thousand ($’000) unless otherwise indicated. Accounting policies, estimates and critical accounting judgements applied to the preparation of the Statement of Financial Position of the Company is consistent with the disclosures in the consolidated financial statements. The Statement of Financial Position and Notes to the Statement of Financial Position of the Company as at 31 December 2024 were authorised and approved by the Board of Directors for issuance on 26 February 2025. 2. Property, plant and equipment Furniture, fittings, office equipment and others Total $’000 $’000 2024 Cost At 1 January 2024 588 588 Additions 6 6 At 31 December 2024 594 594 Accumulated depreciation At 1 January 2024 112 112 Depreciation charge 116 116 At 31 December 2024 228 228 Net book value At 31 December 2024 366 366 259 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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