25. TRADE AND OTHER PAYABLES (CONTINUED) Trade and other payables are denominated in the following currencies: Group Company 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Singapore dollar 78,420 96,489 13,773 14,382 United States dollar 626 609 – – 79,046 97,098 13,773 14,382 26. BANK BORROWINGS Group 2025 2024 $’000 $’000 Non-current liabilities Secured – Term loan I 3,470 4,353 Current liabilities Secured – Term loan I 9,729 9,423 – Term loan II – 432 9,729 9,855 Total bank borrowings 13,199 14,208 The Group bank borrowings are as follows: a) Term loan I The Group entered into a banking facility amounting to $8,600,000 on 5 November 2018, which is to finance the purchase of two properties. The loan carries an interest at 3.32% for the first and second year of the loan, 2.95% for the third year of loan and 6.25% thereafter plus the bank cost of borrowings. The loan is secured by a first legal mortgage over the two buildings under Group’s property, plant and equipment (Note 10). The term loan is repayable over 132 monthly instalments comprising of the principal amount and monthly interest. The monthly repayment commences on 17 June 2019 and will continue until 17 April 2030. On 11 May 2022, the banking facility was revised with conversion of interest rate on the outstanding borrowing amounts of $7,019,000. The revised loan carries an interest at 0.88% over the applicable 3-month Compound Singapore Overnight Rate Average (“SORA”) for the first year of conversion, 1.08% over the applicable 3-month Compounded SORA for the second year of conversion and 2.00% the applicable 3-month Compounded SORA for the third year of conversion and thereafter. As at the end of the reporting period, the outstanding borrowing amounts to $4,338,000 (2024: $5,147,000), comprising of both current and non-current loan amount of $868,000 (2024: $794,000) and $3,470,000 (2024: $4,353,000) respectively. The Group entered into an additional banking facility amounting to $3,000,000 on 9 April 2020, which can be drawn down based on the Group’s financing requirements. The loan carries an interest at 2.75% plus the bank cost of borrowings. The loan is secured by a corporate guarantee provided by the Company. The term loan is repayable over 60 monthly instalments comprising of the principal amount and monthly interest. The monthly repayment commences on 31 October 2020 and will continue until 30 September 2025. As at the end of reporting period, the outstanding borrowings amounted to $Nil (2024: $629,000), comprising of both current and non-current loan amount of $Nil (2024: $629,000) and $Nil (2024: $Nil) respectively. The loan was fully repaid during the financial year. ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 110 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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